ANZ Australia Bank Review: Accounts, Digital Features and Who Should Bank Here

When I first moved to a new city and needed to sort out my banking quickly, ANZ was one of the first names that came up. It has branches and ATMs almost everywhere, a reasonably polished app, and a product range wide enough to cover most financial situations. But does it actually deliver on day-to-day banking, or is it coasting on brand recognition? After spending time with its accounts and features, here is what I genuinely think.

ANZ at a Glance

ANZ, or Australia and New Zealand Banking Group, is one of the country's four major banks — commonly referred to alongside Commonwealth Bank, Westpac and NAB as the "Big Four." It is regulated by the Australian Prudential Regulation Authority (APRA) and deposits held with ANZ are protected under the Australian Government Financial Claims Scheme, which covers eligible deposits up to A$250,000 per account holder. That alone makes it a safe home for your everyday money.

ANZ operates a large physical footprint across Australia, which still matters for many customers who occasionally need to speak with someone face to face — particularly for home loans, business banking and complex financial queries. Its digital channels, however, are where most everyday customers will spend the bulk of their time.

Everyday Transaction Accounts

ANZ's primary everyday account is the ANZ Access Advantage account. It functions as a standard transaction account with a linked Visa debit card, access to the ANZ ATM network and the ability to set up direct debits and BPAY payments. The monthly account fee applies unless you meet certain conditions — such as depositing a minimum amount each month or being under a specific age threshold. ANZ periodically adjusts these fee waiver conditions, so it is worth checking the current terms directly on the ANZ website before opening an account.

There is also the ANZ Access Basic account, which is designed for customers who may not qualify for a standard account or who simply want a no-frills option with a lower fee structure. It comes without an overdraft facility and is a reasonable choice for people building or rebuilding their financial footing.

For younger customers, ANZ offers accounts with reduced or waived fees, which can be a practical starting point before transitioning to a full transaction account as income grows.

Savings Accounts Worth Knowing About

ANZ offers a few savings options, and the most commonly used is the ANZ Progress Saver. It rewards consistent saving behaviour — if you make at least one deposit and no withdrawals in a calendar month, you earn a bonus interest rate on top of the base rate. The combined rate varies depending on the current market environment and ANZ's own pricing decisions, so I would always recommend checking the current rate before committing, rather than relying on figures you saw weeks ago.

The ANZ Online Saver is another option, designed for customers who want a straightforward high-interest savings account without branch dependencies. It typically offers a higher introductory rate for the first few months, after which the standard variable rate applies. This kind of introductory structure is worth factoring into your longer-term savings strategy — it can make sense to take advantage of the bonus period while keeping your options open.

If you are thinking about how savings rates at ANZ compare to the broader market, the Reserve Bank of Australia's interest rate data is a useful reference point for understanding where bank deposit rates sit relative to the cash rate.

ANZ Plus: The Digital Banking Arm

In recent years, ANZ launched ANZ Plus, a separate digital banking platform built on a modern technology stack. It is app-only, with no branch support, and targets customers who are comfortable managing everything on their phone. ANZ Plus includes a transaction account and a savings account called Save, with the savings account typically offering competitive rates and round-up features to help you grow your balance passively.

What makes ANZ Plus feel different from the traditional ANZ experience is the interface — it is noticeably cleaner and faster than the legacy ANZ app. You can set savings goals, track spending by category and get near-real-time transaction notifications. For anyone who has tried comparable digital banking products, ANZ Plus holds up well.

That said, ANZ Plus is still maturing. Some features that traditional ANZ customers take for granted — like access to the full home loan suite or certain business banking tools — are not yet available through the Plus platform. If your financial life is relatively simple (everyday spending and saving), ANZ Plus is compelling. If you need the full ecosystem, traditional ANZ still makes more sense.

Home Loans and Credit Products

ANZ is a major player in the Australian home loan market. Its residential mortgage range covers variable rate loans, fixed rate options and split loans. The ANZ Simplicity PLUS home loan has historically appealed to borrowers who want competitive rates without an offset account, while the ANZ Breakfree package bundles a home loan with a transaction account and credit card for customers who want a more integrated setup — though package fees apply.

On the credit card side, ANZ offers a range of cards spanning low-rate options, rewards cards and frequent flyer cards, including products linked to Qantas Points. If you are weighing up whether a rewards credit card actually suits your spending patterns, it is worth reading up on how to genuinely extract value from those programs before committing to the annual fee. You can also look at how other major banks structure their card offerings — for instance, our review of the BCA Bank Indonesia shows how a different market approaches similar product layering, which can sharpen your thinking about what really matters in a card.

The ANZ App Experience

The standard ANZ app covers the basics well — balance checks, transfers, BPAY, card management, and the ability to temporarily lock your card if you misplace it. Biometric login is supported, and the app handles PayID and the New Payments Platform (NPP) for fast payments to other Australian bank accounts.

The app is not the most visually exciting in the market, but it is reliable and functional. Customers who have been with ANZ for years rarely report major complaints about the app itself — the bigger frustrations tend to come from customer service wait times rather than the technology.

Customer Service and Branch Access

ANZ still maintains a meaningful branch network compared to some competitors that have been aggressively closing physical locations. For customers in regional areas, this matters more than many banks acknowledge publicly. Phone and in-app chat support exist, but wait times can stretch during peak periods, which is a common complaint across the Big Four.

If you are someone who rarely needs to speak to a person and can resolve most queries through the app or online, you will likely have a smoother experience with ANZ than someone who depends on branch interactions regularly.

Who Gets the Most from ANZ?

ANZ suits a fairly broad range of customers, but it particularly makes sense for people who want the security of a Big Four bank with a wide physical presence, access to home lending, and a growing digital offering through ANZ Plus. It is a natural fit for professionals who want all their banking — everyday account, savings, home loan, credit card — under one roof.

It is probably less exciting for pure digital natives who want the absolute best savings rate and the leanest possible fee structure. In that space, smaller online-focused institutions often edge ahead. But for overall reliability and product breadth, ANZ is genuinely hard to dismiss.

If you are exploring how other banks in the region approach their digital and savings product design, our ASB Bank review offers a useful comparison from a different market perspective, and looking at OCBC's approach in Singapore is equally instructive for understanding how digital-first banking can coexist with a full-service offering.

Final Thoughts

ANZ is not perfect, but it earns its place as one of Australia's most used banks through sheer consistency. The combination of ANZ Plus for digital-first customers and the traditional platform for those who need the full suite gives it more flexibility than it often gets credit for. If you are weighing up your options, I would suggest spending time with the ANZ Plus app in particular — it shows a clearer picture of where the bank is heading than the legacy product range alone ever could.