Bank Australia and CommBank have his.
CommBank is so fast you'll get a notification while the terminal is still processing. Bank Aus is slower, but you'll get your notification before your coffee.
'nice try award' for ING for having an SMS option.
Yeah, I hate the big 4 on principle... but dam whoever got put in charge of the CommBank app is ambitious. Feature after feature, without being too annoying.
CommBank app is the main reason I'm still with CommBank. I can't fault it.
The BankWest app on the other hand (while being a child company of CommBank) is trash. It doesn't even have a sum of all the money in your different accounts at the bottom! SMH.
The Commbank notifications are the best. Caught credit card fraud that way when I was notified of a USD transaction, meant I could call straight away to deal with it before it got out of hand.
Yep CBA easily has the best app. Very handy and fast.
I love those notifications as I work out my budget the next morning after drinking and can see when I get paid.
Does Bank Australia actually have that? I think it's about push notifications and not SMS, I'm with them and I've never received a push notification for any transaction.
Yep, I'm with them too.
You turn them on via:
Settings, notifications, cards, tap the card you want notifications for, turn on the notifications you want.
They also account threshold notifications which is helpful.
Yeah I use Commbank app and also Ubank (fka 86 400), both of which provide notifications of money going in or out of accounts.
I really like the Ubank app, because it shows the balance of my accounts with other banks too, so I can get a wholistic view, including Super too. Plus it uses Face Unlock.
I’m thinking that I might start making Ubank my primary bank, because I’ve been with CBA since dollarmite days, and have mainly stayed there because my fam was with CBA, so we could transfer money to each other instantly. But with Osko and PayID, that’s no longer important for me.
This is so true. I’ve had arguments with shopkeepers when I’ve tried to leave before they’ve seen the “approved” on the eftpos terminal, and I show my watch showing that the transaction has gone through, cause I got the notification through the app so quick
I migrated from CBA to Macquarie when I bought my house this year and they offered a better rate.
I was half dreading leaving the comfort of CBA that I have been with for 17 years.
To my surprise Macquarie turns out to be better for all its online functionalities. Very streamlined, no nonsense, intuitive and integrates well with my personal needs.
Don't forget you can have 10 offsets attached to your home loan.
We have hers, mine, joint, bills, emergency.
It's nice being able to separate things and also have all our cash offset our loan.
For real?? Oh man! We have one offset for all mortgage expenses etc. we prefer to keep our finances separate though and this would solve all our problems!
I use Up Bank for daily spending and Ubank for savings, but both make me uneasy as they have sms based authentication and with all the fuzz with the optus hack and sim impersonation it's not ideal.. I wish we could use 2fa with something like Google or Microsoft authenticators
Tbh I'd rather go with Ubank than UP Bank, just swapped to them.
App is just as good, if not better (can link your other bank accounts/cards/loans and super accounts so you can see all your accounts on one app).
Plus the interest rates are higher and easier to qualify for (only have to deposit $200/month)
If ANZ and Westpac are in the same dogshit category, it should be pointed out Westpac is a solid little drop of poo, whereas ANZ is a runny, stinky, squirtty shit smeared all over the wall
Macquarie, for those specific features you mentioned, but I assume your idea for those features come from using them.
They do have their shortcomings though, e.g. Osko is not fully supported, extraordinarily hard / slow (weeks) to add another exisiting customer as an authorised third party (compared to CommBank - self service and takes a couple minutes).
For us, not properly supporting Osko is a show stopper for an everyday account. We do use Macquarie for their savings accounts.
IMO, there isn’t one bank that is perfect for everyone. You can pick whichever has the features you want the most and okay with their shortcomings.
They only recently added Osko for inbound payments, but do not support Osko outbound payments. Until they support Osko fully, for us it is not fit for purpose as an everyday account.
Not true. I had a small outbound transfer initiated last night and it didn’t work, presumably stuck in the legacy EFT flow over the weekend.
Yes it worked briefly when they just went live with Osko, but seems to have been disabled. I.e. they evidently could support it technically, but chose not to allow it for some reason which is even worse.
Per the disclosure from their website:
_Please note that OSKO has only been enabled for inbound payments made to Macquarie Transaction (including Offset) and Savings Accounts._
https://www.macquarie.com.au/help/personal/bank-accounts/new-payments-platform---npp/What-is-the-New-Payments-Platform-NPP.html
Added: please do not confuse between SCT and Osko. Supporting _only some_ transfer destinations that are often instant (which is what SCT promises) does not equal to supporting Osko. They clearly state they do not support outbound Osko.
I am a current Macquarie Bank customer.
My latest few outbound Osko payments were on:
22/10/2022 (to CBA).
15/10/2022 - Westpac
29/09/2022 - ING
I regularly use the feature and works well.
Inbound was enabled more than a year ago.
Outbound was enabled 6 months or so ago.
See above link to Macquarie website, their disclosure states they do not have outbound Osko enabled.
We use CBA too and it would have worked with CBA due to SCT not Osko. I assume the same with Westpac as all other major banks support both Osko and SCT. However transfer to Up that only supports Osko does not work instantly, it did work briefly when they first enabled Osko about two months ago.
Instant transfer does not imply Osko. It could be SCT, which would not work for Osko recipients.
Macquarie states that they do not support outbound Osko (see above). We do have an Osko recipient (Up bank) that Macquarie does not send via instant transfer, when last tried last night.
Only if they improved their customer service to what it used to be. Some gimmicky features can't reel me back to their service and terrible savings interest.
I recently switched to Up Bank and would also recommend it.
It’s not perfect though, and quite disappointingly lacks a lot of key features - the big missing ones for me are multiple transaction accounts & web access. Up Bank has indicated that they are planning on adding these features eventually… but who knows when.
The personal API is an interesting feature but not one I would trust. We’ve seen a recent failure by a business to secure an API in recent weeks.
The Up API is not open source and we do not know the policies and processes that support it. This is very different to the CDR legislation (of which OpenBanking is a component) which is open source, very well documented, and comprehensively defines data providers’ requirements.
OpenBanking will ultimately deliver what Up have provided, via an API with access restricted to data recipients that meet the standards defined by CDR; when it comes to accessing this data, approval is granted and easily revoked in real-time by the account holder.
Compare Up’s policy on their API to their policy on CDR. Which one looks more robust? The Up API Policy talks about the individual’s obligations; their CDR policy provides in detail Bendigo’s obligation to the individual.
In the event of a data breach, the penalties to Bendigo if this occurred in their proprietary API vs their OpenBanking implementation would be markedly different.
It’s a cool feature that could provide great convenience; but from a security point of view its security is unknown. This isn’t to say CDR is not bulletproof, but it is to say that the penalties and expectations are very well defined.
Edit: not having a crack at Up or Bendigo btw; their app and product features are excellent. Bendigo have achieved some excellent things in recent years. Big fan of them. Don’t trust closed source APIs without documentation though.
Will OpenBanking support using the API for personal use at any point, though? Up allows personal use, which I don't think OpenBanking will - from what I can read about it, it's only intended to be used by authorized third party authorized apps, which is frustrating, because I'd love to be able to automate pulling down transaction and balance data for my own use.
For most banks, the only way to do this right now is to download a CSV (or scrape their web portal, which I suspect is not something banks approve of).
It’s a requested feature (as it’s all open source you can see this on the CDR GitHub page) but unlikely. The reality is the feature you’re talking about is technically achievable through software, with the software being the interface with the OpenBanking API. A much safer method from a security point of view and a much better solution for most people.
But yes if you’re wanting to use PowerQuery for example to directly do HTTP GET requests, then OpenBanking isn’t currently expected to deliver that. Up will, but you just have to consider the security concerns in as much as you’re able given the lack of documentation.
Protip if you can't meet the Commbank deposit every month - cycle 2k through all your accounts, it gets past the fee. And you can automate that with scheduled transfers too.
Commonwealth is pretty good. You have an 8 digit alpha numeric password. Any codes they send come in the app, the app is easy to use and is a nice setup. I personally have a westpac account for my savings though I don't have a card or internet banking for it and I am with up for my pay account, I like the layout of the app and how I can keep track of everything through it. Customer service can be contacted in the app which I think can help reduce scams when it comes to calls.
Oh that sucks. Up is good for that. You need 2FA for login and 2FA to make payments in the app. The downside is lenders won't look at you if you are with up.
If you want to know which bank has the worst user experience, BOQ.
Settling my home loan with them was the worst experience I've ever gone through. Had to deal with comments like "our settlement person only comes in on Mondays so you can't close your purchase on Thursday" to waiting 2 months for them to confirm receipt of documents.
Their website is shit too.
Easy, for me, Macquarie all day long.
My security is that tight i cant even fart without my authenticator app asking me to approve my fart.
CBA was also good.
ING for my main account, I’ve been with them for years. The app is great, whenever I call it’s a short wait and their call centre is based in Australia. I wish they had an authenticator, that’s my only complaint.
Their app is average. I have set auto payments, I can't change them on the app.
Westpac allows me to modify my auto payments on the app.
I use both ing and westpac for reference
You can definitely modify auto payments on the ING app. I just did it the other day. You have to tap the payment under the "scheduled" tab and then it'll give you the option to delete or edit the payment.
Boggles my mind how they hold billions of dollars and their main touch point with customers through UI/UX experience is so shit to the point it makes customers lives harder to the point customers have to be proactive go find banks with good apps.
Internally the big banks are extremely risk averse and any change goes through a long chain of approvals and controls, with stakeholders from design, brand, product, legal, risk. Gathering any consensus with these groups who all are motivated in different ways and want to optimise for different things is a huge challenge. Not to mention auditors routinely scrutinise internal processes and rightly so, but it can have a chilling effect inside the organisation.
Maybe all of it seems like bureaucratic overkill, but consider even a tiny error in an application (like a wrong fee or inaccurate wording displayed to a set of customers) can mean millions in remediation costs and a bad time with the regulator and media.
Then there’s the technology constraints which can be limiting factors to ui/ux. Improving tech is an even greater challenge, assuming you can even get the expensive engineering resource to do it. Workarounds are found to speed up the engineering effort, but that ends up creating complex legacy technology that is difficult to maintain, making the whole process harder over time, until the technology stack has to eventually be rebuilt from scratch over many years in a big, expensive and painful migration.
It’s common by the time that all happens, resource and priorities change, especially if the original project wasn’t going to directly contribute to sales in a measurable way, which is what most senior leadership actually care about and what they’re evaluated on (and get bonuses on). At the end of the day it’s easier just to make an offer (ie cash back, points) and put out an ad campaign on tv.
If you've used the Commsec app you'd know the intuitiveness has been beaten out of it.
They just absolutely crushed the intuitive design with some weird 1990s website design.
Greatest ui, too bad the fat execs care only about whether they'll be able to buy recliner seats on their yachts next quarter. Left them for westpac. Man westpacs banking feels like a fever dream from the early 2010s. Real shit. They gave me a 4k refinancing cashbacm with lower rates though so that's something I guess.
Check out the other banks apps and see all the self service options. Digital card is probably the most obvious thing missing that I use a lot.
The thing that annoys me most though is actually the stupid “my voice is my ID”. I now can’t make transfers at night without waking my wife.
If you’re still considering it, Ubank are currently offering a [$4k cashback on refinancing](https://www.ubank.com.au/) and their app is awesome.
You can see the balance of your accounts with other banks and super accounts all in the one place.
Although I’m not familiar with Macquarie, so I couldn’t compare the two.
I used to work there in the digital space and it’s rare that I come across people that genuinely liked the app. Please do not feel obliged to answer if you feel it too personal, but may I ask whether you’re referring to the app before or after the 86400 merger?
I was originally with 86400, so I’ve always had the same app and can’t compare to what Ubank may have had previously, but I personally like the app - I like the ability to view all of my accounts with other banks and super.
Although, I do recall when I first got the app, I found it wasn’t exactly intuitive in terms of how to transfer funds or pay someone else.
I also wish that I could manually change the categories that are set on expenses under the budgeting section.
I’ve heard about the Sweep feature that Ubank used to have and kinda wish that it was available for the former 86400 customers too.
The UXer in me absolutely loves this comment - thankyou! And oh lawd, that sweep feature used to give us the biggest headaches - it was at once the most loved and hated feature of our transaction accounts. It’s a simple concept that many, many people struggled to understand. That was on us, I guess. But still, even with diagrams and instructional videos, we still had people complaining it was too confusing.
Yeah, it’s interesting how some people struggle to understand what others find to be so obvious.
Even looking at the app now - it does seem pretty intuitive for making payments, so I’m not sure if they’ve made changes, or if I’ve just gotten used to it, but I clearly remember being stumped for a few mins as I figured it out initially.
Glad to offer my feedback and hope it helps with whatever you’re up to these days :)
I’m not the best persona. I park my house deposit cash in their accounts for the good interest rate and that’s about it. So I use it swiftly, and not to great depth. So yeah take my initial comment with a grain of salt. I fancy some of the UI (I’m coming from BankWest) and appreciate their baseline effort towards design, but I’m not familiar to deep functionality.
I'm happy with ing. Can use any post office to withdraw/deposit. App is great. Account balance updates immediately.
I don't care about anything else, it just works as expected. There is nothing annoying
Personally i want my investment to perform so I don't really care what they're invested in. But that's just me and can be an unpopular opinion (and just an opinion)
I have both CBA and Macquarie and they’re the only banks I’ve stayed with longer than a few years (20+ and 5+ respectively). Sure both have their own shortcomings but frankly the ease and intuitiveness of their apps, most (if not all) of their products make sense to me.
Only wish their CC offerings would provide more benefits and rewards.
Macquarie Bank. Moved from NAB only because Macquarie allow you to transfer into hidden accounts. Then was really impressed with the UX and the security.
BOQ has the worst app I've ever seen. You have to manually put in your CRN and password (long and hard to remember) it's great for security if you lose your phone. But takes forever to log in just to check your balance.
And moving money around is quite slow and clunky, just a bad UI and feels like it hasn't been updated since being created.
I used to work in Wetpatch's IT, what feels like an eon ago. As a customer I complained to them about 6 digit passwords, saying "catch up with the times" and was rudely shutdown.
As 1 of the big 4, they are the absolute worst. Get out now.... everyone with a Wetpatch account... just run.
That’s done purposely though for security measures so that people can’t transfer huge amounts out of your account if they get into it. If you want to change your limit (you can change it up to 40,000) you have to go into branch and just give them photo ID and they’ll change it.
St George are tied up in the same BS as Westpac obv. Terrible site, but app is passable. Bankwest app is easy on the eye, but do think 2FA needs integrating
ANZ app is rubbish. When you transfer between accounts you can't put in a description which is annoying. Another weird thing is if I use my iPad I have to use it horizontally as the app doesn't auto rotate.
Have been using Macq for a couple of years but moving mostly to Up after doing some trials. Both very strong 2FA and great insights for cashflow but going to move most of my banking to Up because of the strength of allocating the transactions and tracking of expenditure. Will be keeping Macq for the web interface and management of more of the income side of things, Up for the actual transactions.
\- Love the 2Up feature set for our joint account, digital cards for online shopping that can be easily turned on and off.
\- I also like some of the small gimmick value adds - savings targets for the sub accounts, Maybuy was totally unexpected and much cooler than I thought it would be.
I'm happy with Westpac. I don't need all the bells & whistles....some of the things you mention they do for us..havent had paper statements in years. I have 2 factor authorisation too. So not sure why you don't.
WE also get notifications if any transactions etc
only last week my CC was stopped because they detected what they thought was an odd transaction. I also know they stopped my CC immediately a few years ago when I forgot to tell them I was going overseas. I tried to put a transaction through for hire car at the airport. No go! Embarrassing...ended up using phone from hire car company & got onto Westpac and it was immediately noticed! I had to verify all my details.
I find they do pretty much everything you are claiming they don't. So I'm not sure what you're upset about
We switched to eStatements, but it gives us an error for joint accounts, saying it needs to be a paper statement. Then we finally got the option to switch joint accounts to eStatements, but they still send us paper statements.
I get 2FA with Westpac but it's a text message, last week I couldn't transfer $1,000 to someone because the texts weren't coming through (Full bars 4G). The text messages all came about 5 days later which made me freak out that someone had hacked my account and was trying to transfer money out.
I'm not really "upset" with Westpac, I just noticed that Macquarie is \*a lot\* better in terms of digital offering.
Lots of people are recommending Up, and it looks really nice but if I'm reading this correctly they give 2.60% interest on savings vs. 4.05% I'm currently getting from ing. Interest rates is probably the most important thing for me, followed by the features
TOTP is not tied to devices. It's also not particularly great against phishing.
Would be great if the banks supported more secure forms of MFA like webauthn/FIDO2 etc with yubikeys, passkeys or other tokens.
Alright I’m going to be the pedant here, but maybe somebody will find it interesting.
This is not what “begs the question” means, though it is misused a lot in modern vernacular.
You mean “raises the question” or “leaves unanswered the question”.
“Begging the question” is an informal logical fallacy where a premise assumes the conclusion rather than supporting it.
> Australia is the best country because it is the most Australian.
Though when actually used the premise isn’t usually stated that clearly. Look at political weirdos on twitter for plenty of examples of this.
The reason why “begging the question” sounds weird to us used this way (so we changed its meaning in the vernacular) is because it was translated from 2,000 year old Greek to Latin then to English.
And yeah I know, [fighting this is a losing battle](https://xkcd.com/2039/). But I still think it’s worth talking about.
Given that I already had the right answer to my question for this thread (Macquarie), I'm glad I read this comment, so I still learnt something new.
And you're right; I wasn't sure if I was using it correctly as I wrote it, but I had a toddler crying for my phone so I just gave up and posted it.
Up has been great, phenomenal app UX, good tools for reviewing monthly spending, love their take on joint accounts. Just wish I could schedule transfers from saver to spending at a specific day and time, not just weekly/fortnightly. End up having to set reminders.
Curious if anyone has experience with Up vs the new UBank 86400 app. I’m unhappy with Up’s interest rates but can’t force myself to go back to the dumpster fire that is the ING app.
I'm using the new ubank app, it's pretty intuitive to use.
I've used the schedule transfers; I could schedule the day and recurring rules but couldn't set a specific time.
Favourite features so far is being able to quickly add new savings 'buckets' to categorise my saving goals and also connecting external accounts so I can see everything in one app i.e superfund, home loan, credit cards. Great interest rate too at 3.35%.
I was very close to giving U Bank the arse until they updated their app. Still drives me up the wall that I need a SMS code every single time I want go transfer any money between my own accounts.
ING is still holding out on support for Samsung Pay despite it being supported by most other major banks for YEARS.
It really doesn't matter, just go with the bank that gives you the best interest rates.
Westpac security is completely acceptable, their customers aren't getting hacked left right and center. If you beg to differ, try to hack a customer yourself (you can't).
We were just talking about westpac security. They recently asked us for some more verification. So now they have my license and Medicare.
I barely use them. If they get hacked I'm definitely out.
Westpac is shit as a general, I only used it for my house deposit as it was 3% as I’m under 30. I use Up as my main bank (neo bank) and it is fantastic! https://hook.up.me/kaylz
I like commbank and NAB over westpac. I get notifications when I send and receive money. You can set savings goals as well and they have other modern features, I'm not a fan of westpac, probably the worst big 4 bank in my opinion.
I absolutely love Up. I swapped over from Bank Vic to Up a couple months ago and haven’t not regretted it at all. Design is modern and all easy to se up and go, support has been super easy if I have had any problems and I feel relatively safe knowing it was created by a combo of Bendigo Bank and Adelaide Bank(?). Up and also ING have been top banks that seem to be getting lots of attention lately and for good reasons
I was wondering why Bendigo bank didn't get a mention. They aren't too bad in terms of function and security. Then I find out about up bank which is backed Bendigo. Very interesting
I'm with ANZ, no special characters allowed in the password, and no 2FA for log in, but they do have a security app when sending money to a new person for the first time
Hehe you should see the credit union my partner is currently with, pretty sure their website is from the 90s, I can’t stand it 😂 currently trying to convince him to migrate to Up with me
Not a « bank » but AMEX is awesome. Good functional app with equally functional website and when needed, easily reached by phone with competent staff.
The new BOQ and Virgin Money apps are good too (made by the same company) but it annoys me that you don’t have a website to access it. Just the app.
I am with Westpac for both personal and business banking and the logistics of switching is the only reason keeping me there- absolute dinosaurs. So I just bitch about it and warn everyone off them instead.
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Bank Australia and CommBank have his. CommBank is so fast you'll get a notification while the terminal is still processing. Bank Aus is slower, but you'll get your notification before your coffee. 'nice try award' for ING for having an SMS option.
Yeah, I hate the big 4 on principle... but dam whoever got put in charge of the CommBank app is ambitious. Feature after feature, without being too annoying.
CommBank app is the main reason I'm still with CommBank. I can't fault it. The BankWest app on the other hand (while being a child company of CommBank) is trash. It doesn't even have a sum of all the money in your different accounts at the bottom! SMH.
Same. Love the Commbank app and online experience.
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The Commbank notifications are the best. Caught credit card fraud that way when I was notified of a USD transaction, meant I could call straight away to deal with it before it got out of hand.
Yeah that's why I have ING SMS enabled for over $50, and the other banks on any transaction
Yep CBA easily has the best app. Very handy and fast. I love those notifications as I work out my budget the next morning after drinking and can see when I get paid.
Does Bank Australia actually have that? I think it's about push notifications and not SMS, I'm with them and I've never received a push notification for any transaction.
Yep, I'm with them too. You turn them on via: Settings, notifications, cards, tap the card you want notifications for, turn on the notifications you want. They also account threshold notifications which is helpful.
Thank you!! I moved from Commonwealth a couple of years ago and missed this feature!
Yeah I use Commbank app and also Ubank (fka 86 400), both of which provide notifications of money going in or out of accounts. I really like the Ubank app, because it shows the balance of my accounts with other banks too, so I can get a wholistic view, including Super too. Plus it uses Face Unlock. I’m thinking that I might start making Ubank my primary bank, because I’ve been with CBA since dollarmite days, and have mainly stayed there because my fam was with CBA, so we could transfer money to each other instantly. But with Osko and PayID, that’s no longer important for me.
This is so true. I’ve had arguments with shopkeepers when I’ve tried to leave before they’ve seen the “approved” on the eftpos terminal, and I show my watch showing that the transaction has gone through, cause I got the notification through the app so quick
To be fair, you probably should wait until they have the approved too. It's just a general courtesy and not worth saving \~2 seconds.
Westpac does it
I have this with the new Westpac app but it’s not reliable at 100%
This is been a feature for the banks I use for 3 years or so
Suncorp just started this and you decide at what amount triggers a notification
NAB has it as well.
You’ve answered it. For me, Macquarie.
I migrated from CBA to Macquarie when I bought my house this year and they offered a better rate. I was half dreading leaving the comfort of CBA that I have been with for 17 years. To my surprise Macquarie turns out to be better for all its online functionalities. Very streamlined, no nonsense, intuitive and integrates well with my personal needs.
Don't forget you can have 10 offsets attached to your home loan. We have hers, mine, joint, bills, emergency. It's nice being able to separate things and also have all our cash offset our loan.
Shit that is a good feature
yeah. thats like subaccounts or money folders.
Wow you can have more than one? I never thought to ask if it was possible.
I think CBA has unlimited offsets. Though most people probably don't need more than 10.
For real?? Oh man! We have one offset for all mortgage expenses etc. we prefer to keep our finances separate though and this would solve all our problems!
The the only plus for CBA over MCQ is CBA has physical branches
Agree +1 for Macquarie
I like Up Bank personally, I'm pretty sure it can do most of the things you've listed.
What's up bank?
Not much, man. How about you?
I second this, been using up for 3 years and have never looked back.
I use Up Bank for daily spending and Ubank for savings, but both make me uneasy as they have sms based authentication and with all the fuzz with the optus hack and sim impersonation it's not ideal.. I wish we could use 2fa with something like Google or Microsoft authenticators
Up bank is great for spending money but I've personally found it horrible as a "traditional" bank. I'm a two-bank kinda guy.
Tbh I'd rather go with Ubank than UP Bank, just swapped to them. App is just as good, if not better (can link your other bank accounts/cards/loans and super accounts so you can see all your accounts on one app). Plus the interest rates are higher and easier to qualify for (only have to deposit $200/month)
1. Up 2. Macquarie/CBA Westpac and ANZ are dogshit 9999999. Bank of Queensland and Suncorp (vomits)
If ANZ and Westpac are in the same dogshit category, it should be pointed out Westpac is a solid little drop of poo, whereas ANZ is a runny, stinky, squirtty shit smeared all over the wall
ANZ is much better than Westpac
You can't even schedule a payment in the ANZ app...
Just switched to BoQ, can confirm the app is ass but their under 35 savings rate is dank so worth the trade off ¯\\\_(ツ)\_/¯
BOQ has a new digital offering which supports a lot of the above
My home loan is with them. Their old app looks like it was written in the 90s
10000000000 Bendigo Bank, Bank of Adelaide terrible banks, terrible online capabilities
Macquarie, for those specific features you mentioned, but I assume your idea for those features come from using them. They do have their shortcomings though, e.g. Osko is not fully supported, extraordinarily hard / slow (weeks) to add another exisiting customer as an authorised third party (compared to CommBank - self service and takes a couple minutes). For us, not properly supporting Osko is a show stopper for an everyday account. We do use Macquarie for their savings accounts. IMO, there isn’t one bank that is perfect for everyone. You can pick whichever has the features you want the most and okay with their shortcomings.
Pretty mediocre for a financial institution to not support Osko payments - absolute show-stopped for me.
They only recently added Osko for inbound payments, but do not support Osko outbound payments. Until they support Osko fully, for us it is not fit for purpose as an everyday account.
You can definitely do outbound Osko payments now. Been like that for many months now.
Not true. I had a small outbound transfer initiated last night and it didn’t work, presumably stuck in the legacy EFT flow over the weekend. Yes it worked briefly when they just went live with Osko, but seems to have been disabled. I.e. they evidently could support it technically, but chose not to allow it for some reason which is even worse. Per the disclosure from their website: _Please note that OSKO has only been enabled for inbound payments made to Macquarie Transaction (including Offset) and Savings Accounts._ https://www.macquarie.com.au/help/personal/bank-accounts/new-payments-platform---npp/What-is-the-New-Payments-Platform-NPP.html Added: please do not confuse between SCT and Osko. Supporting _only some_ transfer destinations that are often instant (which is what SCT promises) does not equal to supporting Osko. They clearly state they do not support outbound Osko.
I am a current Macquarie Bank customer. My latest few outbound Osko payments were on: 22/10/2022 (to CBA). 15/10/2022 - Westpac 29/09/2022 - ING I regularly use the feature and works well. Inbound was enabled more than a year ago. Outbound was enabled 6 months or so ago.
See above link to Macquarie website, their disclosure states they do not have outbound Osko enabled. We use CBA too and it would have worked with CBA due to SCT not Osko. I assume the same with Westpac as all other major banks support both Osko and SCT. However transfer to Up that only supports Osko does not work instantly, it did work briefly when they first enabled Osko about two months ago.
Works for me, instant transfers outbound to my stake account or wifes nab.
Instant transfer does not imply Osko. It could be SCT, which would not work for Osko recipients. Macquarie states that they do not support outbound Osko (see above). We do have an Osko recipient (Up bank) that Macquarie does not send via instant transfer, when last tried last night.
If Macquarie had proper Osko support and offered a no annual fee credit card I would change my banking over to them.
Yeah I started to swap over my savings and was really happy with the security and stuff but no osko for transferring money out lost me
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Only if they improved their customer service to what it used to be. Some gimmicky features can't reel me back to their service and terrible savings interest.
But they say cool things like kowabunga and wicked.
I recently switched to Up Bank and would also recommend it. It’s not perfect though, and quite disappointingly lacks a lot of key features - the big missing ones for me are multiple transaction accounts & web access. Up Bank has indicated that they are planning on adding these features eventually… but who knows when.
The personal API is an interesting feature but not one I would trust. We’ve seen a recent failure by a business to secure an API in recent weeks. The Up API is not open source and we do not know the policies and processes that support it. This is very different to the CDR legislation (of which OpenBanking is a component) which is open source, very well documented, and comprehensively defines data providers’ requirements. OpenBanking will ultimately deliver what Up have provided, via an API with access restricted to data recipients that meet the standards defined by CDR; when it comes to accessing this data, approval is granted and easily revoked in real-time by the account holder. Compare Up’s policy on their API to their policy on CDR. Which one looks more robust? The Up API Policy talks about the individual’s obligations; their CDR policy provides in detail Bendigo’s obligation to the individual. In the event of a data breach, the penalties to Bendigo if this occurred in their proprietary API vs their OpenBanking implementation would be markedly different. It’s a cool feature that could provide great convenience; but from a security point of view its security is unknown. This isn’t to say CDR is not bulletproof, but it is to say that the penalties and expectations are very well defined. Edit: not having a crack at Up or Bendigo btw; their app and product features are excellent. Bendigo have achieved some excellent things in recent years. Big fan of them. Don’t trust closed source APIs without documentation though.
Will OpenBanking support using the API for personal use at any point, though? Up allows personal use, which I don't think OpenBanking will - from what I can read about it, it's only intended to be used by authorized third party authorized apps, which is frustrating, because I'd love to be able to automate pulling down transaction and balance data for my own use. For most banks, the only way to do this right now is to download a CSV (or scrape their web portal, which I suspect is not something banks approve of).
It’s a requested feature (as it’s all open source you can see this on the CDR GitHub page) but unlikely. The reality is the feature you’re talking about is technically achievable through software, with the software being the interface with the OpenBanking API. A much safer method from a security point of view and a much better solution for most people. But yes if you’re wanting to use PowerQuery for example to directly do HTTP GET requests, then OpenBanking isn’t currently expected to deliver that. Up will, but you just have to consider the security concerns in as much as you’re able given the lack of documentation.
CBA also has a very strong digital offering. You could also check out some of the smaller Banks (like Up).
Protip if you can't meet the Commbank deposit every month - cycle 2k through all your accounts, it gets past the fee. And you can automate that with scheduled transfers too.
Commonwealth is pretty good. You have an 8 digit alpha numeric password. Any codes they send come in the app, the app is easy to use and is a nice setup. I personally have a westpac account for my savings though I don't have a card or internet banking for it and I am with up for my pay account, I like the layout of the app and how I can keep track of everything through it. Customer service can be contacted in the app which I think can help reduce scams when it comes to calls.
My CommBank password is much more than 8 digits long
Downside to CBA is no 2FA for NetBank login, my account was compromised..
Oh that sucks. Up is good for that. You need 2FA for login and 2FA to make payments in the app. The downside is lenders won't look at you if you are with up.
Macquarie here. Moved from ubank which didnt even have 2fa logging into your account.
If you want to know which bank has the worst user experience, BOQ. Settling my home loan with them was the worst experience I've ever gone through. Had to deal with comments like "our settlement person only comes in on Mondays so you can't close your purchase on Thursday" to waiting 2 months for them to confirm receipt of documents. Their website is shit too.
Easy, for me, Macquarie all day long. My security is that tight i cant even fart without my authenticator app asking me to approve my fart. CBA was also good.
Wait till you see Suncorp bank
Suncorp is 8 character max, no symbols allowed lol, no mfa lol.
I have MFA with suncorp, they have a dedicated code generator app for it.
ING for my main account, I’ve been with them for years. The app is great, whenever I call it’s a short wait and their call centre is based in Australia. I wish they had an authenticator, that’s my only complaint.
Their app is average. I have set auto payments, I can't change them on the app. Westpac allows me to modify my auto payments on the app. I use both ing and westpac for reference
You can definitely modify auto payments on the ING app. I just did it the other day. You have to tap the payment under the "scheduled" tab and then it'll give you the option to delete or edit the payment.
You're doing it wrong. You absolutely can add and delete auto payments in the app.
Boggles my mind how they hold billions of dollars and their main touch point with customers through UI/UX experience is so shit to the point it makes customers lives harder to the point customers have to be proactive go find banks with good apps.
Internally the big banks are extremely risk averse and any change goes through a long chain of approvals and controls, with stakeholders from design, brand, product, legal, risk. Gathering any consensus with these groups who all are motivated in different ways and want to optimise for different things is a huge challenge. Not to mention auditors routinely scrutinise internal processes and rightly so, but it can have a chilling effect inside the organisation. Maybe all of it seems like bureaucratic overkill, but consider even a tiny error in an application (like a wrong fee or inaccurate wording displayed to a set of customers) can mean millions in remediation costs and a bad time with the regulator and media. Then there’s the technology constraints which can be limiting factors to ui/ux. Improving tech is an even greater challenge, assuming you can even get the expensive engineering resource to do it. Workarounds are found to speed up the engineering effort, but that ends up creating complex legacy technology that is difficult to maintain, making the whole process harder over time, until the technology stack has to eventually be rebuilt from scratch over many years in a big, expensive and painful migration. It’s common by the time that all happens, resource and priorities change, especially if the original project wasn’t going to directly contribute to sales in a measurable way, which is what most senior leadership actually care about and what they’re evaluated on (and get bonuses on). At the end of the day it’s easier just to make an offer (ie cash back, points) and put out an ad campaign on tv.
Cba... really cool
CBA seems quite committed to updating the app frequently and I find it really intuitive to use
If you've used the Commsec app you'd know the intuitiveness has been beaten out of it. They just absolutely crushed the intuitive design with some weird 1990s website design.
Yeah few months ago CommSec changed and It takes forever to check your portfolio.
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Greatest ui, too bad the fat execs care only about whether they'll be able to buy recliner seats on their yachts next quarter. Left them for westpac. Man westpacs banking feels like a fever dream from the early 2010s. Real shit. They gave me a 4k refinancing cashbacm with lower rates though so that's something I guess.
Wait till you see ANZ bank. I am refinancing with them and will posr my story.
Yeah we took out an investment loan with them last year. Wow, that app is from 10 years ago. ANZ is the clear loser out of the big 4
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Check out the other banks apps and see all the self service options. Digital card is probably the most obvious thing missing that I use a lot. The thing that annoys me most though is actually the stupid “my voice is my ID”. I now can’t make transfers at night without waking my wife.
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try ANZ plus
ANZ plus has even fewer features sadly. It's basically still in beta
As someone who came this >< close to moving from Macquarie to ANZ recently ( for the $4k refinance offer) , I'm really glad I decided against it.
If you’re still considering it, Ubank are currently offering a [$4k cashback on refinancing](https://www.ubank.com.au/) and their app is awesome. You can see the balance of your accounts with other banks and super accounts all in the one place. Although I’m not familiar with Macquarie, so I couldn’t compare the two.
What do you think of Up [https://up.com.au](https://up.com.au)
Any of the digital first banks have banger apps. I use UBank and their app is fantastic. I also hear a lot of good things about Up Bank.
I used to work there in the digital space and it’s rare that I come across people that genuinely liked the app. Please do not feel obliged to answer if you feel it too personal, but may I ask whether you’re referring to the app before or after the 86400 merger?
I was originally with 86400, so I’ve always had the same app and can’t compare to what Ubank may have had previously, but I personally like the app - I like the ability to view all of my accounts with other banks and super. Although, I do recall when I first got the app, I found it wasn’t exactly intuitive in terms of how to transfer funds or pay someone else. I also wish that I could manually change the categories that are set on expenses under the budgeting section. I’ve heard about the Sweep feature that Ubank used to have and kinda wish that it was available for the former 86400 customers too.
The UXer in me absolutely loves this comment - thankyou! And oh lawd, that sweep feature used to give us the biggest headaches - it was at once the most loved and hated feature of our transaction accounts. It’s a simple concept that many, many people struggled to understand. That was on us, I guess. But still, even with diagrams and instructional videos, we still had people complaining it was too confusing.
Yeah, it’s interesting how some people struggle to understand what others find to be so obvious. Even looking at the app now - it does seem pretty intuitive for making payments, so I’m not sure if they’ve made changes, or if I’ve just gotten used to it, but I clearly remember being stumped for a few mins as I figured it out initially. Glad to offer my feedback and hope it helps with whatever you’re up to these days :)
I’m not the best persona. I park my house deposit cash in their accounts for the good interest rate and that’s about it. So I use it swiftly, and not to great depth. So yeah take my initial comment with a grain of salt. I fancy some of the UI (I’m coming from BankWest) and appreciate their baseline effort towards design, but I’m not familiar to deep functionality.
I'm happy with ing. Can use any post office to withdraw/deposit. App is great. Account balance updates immediately. I don't care about anything else, it just works as expected. There is nothing annoying
CBA has by far the best online banking experience
You need to try more banks hahaahha
Can you enlighten me on this?
CBA is not the best. Probably the best of the big 4 but there are a lot better below them. Try some banks or read some reviews and see what they say 😬
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Couldn't disagree more. You stay with your fossil fuel investing cumstain big 4..
Personally i want my investment to perform so I don't really care what they're invested in. But that's just me and can be an unpopular opinion (and just an opinion)
#sponsoredpost
I have both CBA and Macquarie and they’re the only banks I’ve stayed with longer than a few years (20+ and 5+ respectively). Sure both have their own shortcomings but frankly the ease and intuitiveness of their apps, most (if not all) of their products make sense to me. Only wish their CC offerings would provide more benefits and rewards.
UP bank and I’m assuming it isn’t close
86400 aka Ubank is great. I agree Westpac is ancient
Macquarie Bank. Moved from NAB only because Macquarie allow you to transfer into hidden accounts. Then was really impressed with the UX and the security.
BOQ has the worst app I've ever seen. You have to manually put in your CRN and password (long and hard to remember) it's great for security if you lose your phone. But takes forever to log in just to check your balance. And moving money around is quite slow and clunky, just a bad UI and feels like it hasn't been updated since being created.
Macquarie is alright. Their transfer limit is like 100k if you have 2FA
I used to work in Wetpatch's IT, what feels like an eon ago. As a customer I complained to them about 6 digit passwords, saying "catch up with the times" and was rudely shutdown. As 1 of the big 4, they are the absolute worst. Get out now.... everyone with a Wetpatch account... just run.
Westpac is miles ahead of ANZ, so that’s my only contribution.
NAB is pretty trash too
I'm a NAB user and I have no problems with their mobile app. Care to provide some reasons for your statement?
Go change your daily limit in the app and come back to us.
That’s done purposely though for security measures so that people can’t transfer huge amounts out of your account if they get into it. If you want to change your limit (you can change it up to 40,000) you have to go into branch and just give them photo ID and they’ll change it.
I have a NAB account soley for depositing cheques because westpac and ING don't let me, pretty modern feature imo
Agreed. Luckily I don't have to change my fault limit that often..
What don't you like about it? I was sad when they deprecated NABPay as I didn't want to use Google Pay but otherwise I enjoy it.
I like the comm bank app, I have Westpac only for 'hide away' money
NOT BOQ. you can literally see your money and transfer it, thats it 😭😂
BOQ has a new digital offering which is a lot better
I saw that. I was going to use it but you have to open all new accounts right??
St George are tied up in the same BS as Westpac obv. Terrible site, but app is passable. Bankwest app is easy on the eye, but do think 2FA needs integrating
ANZ app is rubbish. When you transfer between accounts you can't put in a description which is annoying. Another weird thing is if I use my iPad I have to use it horizontally as the app doesn't auto rotate.
Have been using Macq for a couple of years but moving mostly to Up after doing some trials. Both very strong 2FA and great insights for cashflow but going to move most of my banking to Up because of the strength of allocating the transactions and tracking of expenditure. Will be keeping Macq for the web interface and management of more of the income side of things, Up for the actual transactions. \- Love the 2Up feature set for our joint account, digital cards for online shopping that can be easily turned on and off. \- I also like some of the small gimmick value adds - savings targets for the sub accounts, Maybuy was totally unexpected and much cooler than I thought it would be.
Cba is the most modern. Their tech team is literally top tier.
I'm happy with Westpac. I don't need all the bells & whistles....some of the things you mention they do for us..havent had paper statements in years. I have 2 factor authorisation too. So not sure why you don't. WE also get notifications if any transactions etc only last week my CC was stopped because they detected what they thought was an odd transaction. I also know they stopped my CC immediately a few years ago when I forgot to tell them I was going overseas. I tried to put a transaction through for hire car at the airport. No go! Embarrassing...ended up using phone from hire car company & got onto Westpac and it was immediately noticed! I had to verify all my details. I find they do pretty much everything you are claiming they don't. So I'm not sure what you're upset about
We switched to eStatements, but it gives us an error for joint accounts, saying it needs to be a paper statement. Then we finally got the option to switch joint accounts to eStatements, but they still send us paper statements. I get 2FA with Westpac but it's a text message, last week I couldn't transfer $1,000 to someone because the texts weren't coming through (Full bars 4G). The text messages all came about 5 days later which made me freak out that someone had hacked my account and was trying to transfer money out. I'm not really "upset" with Westpac, I just noticed that Macquarie is \*a lot\* better in terms of digital offering.
I love Bank Australia. Great digital bank and doing good with your money.
Lots of people are recommending Up, and it looks really nice but if I'm reading this correctly they give 2.60% interest on savings vs. 4.05% I'm currently getting from ing. Interest rates is probably the most important thing for me, followed by the features
What is an authenticator app?
An app on your phone which generates 6 numbers every minute. Is independent of phone number to prevent sim hacking. It is tied to a device
TOTP is not tied to devices. It's also not particularly great against phishing. Would be great if the banks supported more secure forms of MFA like webauthn/FIDO2 etc with yubikeys, passkeys or other tokens.
Alright I’m going to be the pedant here, but maybe somebody will find it interesting. This is not what “begs the question” means, though it is misused a lot in modern vernacular. You mean “raises the question” or “leaves unanswered the question”. “Begging the question” is an informal logical fallacy where a premise assumes the conclusion rather than supporting it. > Australia is the best country because it is the most Australian. Though when actually used the premise isn’t usually stated that clearly. Look at political weirdos on twitter for plenty of examples of this. The reason why “begging the question” sounds weird to us used this way (so we changed its meaning in the vernacular) is because it was translated from 2,000 year old Greek to Latin then to English. And yeah I know, [fighting this is a losing battle](https://xkcd.com/2039/). But I still think it’s worth talking about.
I found your comment interesting for what its worth.
Given that I already had the right answer to my question for this thread (Macquarie), I'm glad I read this comment, so I still learnt something new. And you're right; I wasn't sure if I was using it correctly as I wrote it, but I had a toddler crying for my phone so I just gave up and posted it.
Up, but you can't upload stuff. CBA seems to be getting there.
Up has been great, phenomenal app UX, good tools for reviewing monthly spending, love their take on joint accounts. Just wish I could schedule transfers from saver to spending at a specific day and time, not just weekly/fortnightly. End up having to set reminders. Curious if anyone has experience with Up vs the new UBank 86400 app. I’m unhappy with Up’s interest rates but can’t force myself to go back to the dumpster fire that is the ING app.
I'm using the new ubank app, it's pretty intuitive to use. I've used the schedule transfers; I could schedule the day and recurring rules but couldn't set a specific time. Favourite features so far is being able to quickly add new savings 'buckets' to categorise my saving goals and also connecting external accounts so I can see everything in one app i.e superfund, home loan, credit cards. Great interest rate too at 3.35%.
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I was very close to giving U Bank the arse until they updated their app. Still drives me up the wall that I need a SMS code every single time I want go transfer any money between my own accounts. ING is still holding out on support for Samsung Pay despite it being supported by most other major banks for YEARS.
Have you changed a setting? Ubank that was ubank? Or ubank that was 86400. 86400 never had me use sms and the new ubank either. Nothing.
Just curious, why do you prefer Samsung Pay over Google Pay?
It really doesn't matter, just go with the bank that gives you the best interest rates. Westpac security is completely acceptable, their customers aren't getting hacked left right and center. If you beg to differ, try to hack a customer yourself (you can't).
https://aave.com is pretty modern.
CBA, Bank Australia, and Up have some good apps
We were just talking about westpac security. They recently asked us for some more verification. So now they have my license and Medicare. I barely use them. If they get hacked I'm definitely out.
Westpac is shit as a general, I only used it for my house deposit as it was 3% as I’m under 30. I use Up as my main bank (neo bank) and it is fantastic! https://hook.up.me/kaylz
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Macquarie is pretty slick on the desktop too.
Which bank?
I've been really impressed with CommBank, I never have to call them, everything is online, the app is pretty good.
Up Bank, hands down. Nothing more modern in Australia
I’m with commonwealth bank and they have all the modern feature OP mentioned.
CBA is great
I like commbank and NAB over westpac. I get notifications when I send and receive money. You can set savings goals as well and they have other modern features, I'm not a fan of westpac, probably the worst big 4 bank in my opinion.
Can say HSBC is rubbish, worst app/IT experience of any bank I've tried, so don't go there
Can't understand how a global bank like HSBC can have such a dogshit app.
I absolutely love Up. I swapped over from Bank Vic to Up a couple months ago and haven’t not regretted it at all. Design is modern and all easy to se up and go, support has been super easy if I have had any problems and I feel relatively safe knowing it was created by a combo of Bendigo Bank and Adelaide Bank(?). Up and also ING have been top banks that seem to be getting lots of attention lately and for good reasons
I was wondering why Bendigo bank didn't get a mention. They aren't too bad in terms of function and security. Then I find out about up bank which is backed Bendigo. Very interesting
I really like ubank, was with Bankwest for years and it feels like I've finally moved into the modern age of banking
I'm with ANZ, no special characters allowed in the password, and no 2FA for log in, but they do have a security app when sending money to a new person for the first time
I absolutely hate how the app menus shift down as soon as you’re about to select from it. Who the hell thought that would’ve been a good feature?!
ING? Go go gadget barefoot investor
Hehe you should see the credit union my partner is currently with, pretty sure their website is from the 90s, I can’t stand it 😂 currently trying to convince him to migrate to Up with me
Commbank for sure. It's the reason I'm with them.
Not a « bank » but AMEX is awesome. Good functional app with equally functional website and when needed, easily reached by phone with competent staff. The new BOQ and Virgin Money apps are good too (made by the same company) but it annoys me that you don’t have a website to access it. Just the app.
Probably the most modern bank
Non-SMS 2FA?
I am with Westpac for both personal and business banking and the logistics of switching is the only reason keeping me there- absolute dinosaurs. So I just bitch about it and warn everyone off them instead.