AU · States and territories

Banks in Australia

Last verified: September 2026 · Sources: Source Policy

Australia has a concentrated banking market dominated by four major banks, plus a strong mutual and credit union sector. Deposit protection is 250,000 AUD per depositor, per authorised deposit-taking institution.

Item	Detail
Currency	AUD
Regulator	APRA / ASIC
Deposit protection	250,000 AUD per depositor, per ADI
Protection scheme	Financial Claims Scheme
Residency required	Not always
Identity needed	TFN (Tax File Number)
Regions covered	8

Browse Australia by states and territories

Each page covers the local regulator, banks and credit unions with a real presence in the region, local rules and the exact steps to open an account.

NSW New South Wales VIC Victoria QLD Queensland WA Western Australia SA South Australia TAS Tasmania ACT Australian Capital Territory NT Northern Territory

National banks across Australia

These operate nationwide, so your region does not restrict access to them.

C

Commonwealth Bank

National bank

Australia's largest bank. Extensive branch and digital network.

W

Westpac

National bank

One of the big four; broad national coverage.

A

ANZ

National bank

Major bank with strong business and institutional focus.

N

NAB

National bank

National Australia Bank; strong business lending.

M

Macquarie Bank

National bank

Investment-focused bank with a growing retail deposit offering.

Digital banks

u

ubank

Digital

NAB-owned digital bank with competitive savings rates.

I

ING Australia

Digital

Strong savings account rates and no-fee transaction account.

U

Up

Digital

Bendigo Bank-backed digital bank with strong budgeting tools.

J

Judo Bank

Digital

Business-focused bank with competitive deposit rates.

G

Great Southern Bank

Digital

Formerly CUA; member-owned with digital focus.

Check the numbers before you borrow

Our calculators run entirely in your browser — no signup, no stored data.

Loan payment calculator Debt payoff calculator

Sources and verification

Australian banking supervision and deposit protection are administered by APRA and the Financial Claims Scheme.

APRA — Banking supervisionAustralian Prudential Regulation Authority
ASIC — For consumersAustralian Securities and Investments Commission
FCS — Financial Claims SchemeAustralian Government

Last reviewed September 2026. If you find an error on this page, tell us.

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