In today’s fast-paced digital world, our smartphones have become the new front doors to our banks.
For many of us, especially those who remember the days of passbooks and waiting in long queues, the convenience of mobile banking is nothing short of miraculous.
But as the Australian Competition and Consumer Commission (ACCC) has recently highlighted, not all digital platforms are created equal—especially when it comes to keeping your money and personal information safe.
So, which banking apps are actually getting it right? And what should you be looking for to ensure your finances are protected in this brave new world of digital banking?
Let’s dive into the latest findings and see which banks are leading the way—and which features you should demand from your banking app.
Westpac takes the crown—again!
For the second year running, Westpac has been named Australia’s best banking app by the Mozo Experts Choice Awards for 2025.
This isn’t just a popularity contest—Mozo’s team of financial experts put 49 different mobile banking apps through their paces, analysing everything from security features to user experience, and even how easy it is to get help when you need it.
AJ Duncanson, Data Director and Mozo Experts Choice Awards judge, summed it up perfectly: ‘Mobile apps are now the frontline of banking in Australia, and the best providers are those that empower customers with visibility, security and control, all from the palm of their hand.’
Westpac’s app stood out for its smart design, comprehensive financial insights, and a suite of features that make managing your money not just easy, but actually enjoyable.
From budgeting tools and spend categorisation to robust security controls and real-time support, Westpac is setting the standard for what a modern banking app should be.
What makes a banking app truly great?
It’s not just about being able to check your balance or transfer money. The best banking apps go above and beyond, offering a personalised financial hub that helps you stay on top of your finances, avoid scams, and get help when you need it.
Here are some of the key features Mozo’s experts looked for:
- Apple Pay, Google Pay, PayID and PayTo integration for seamless payments
- Biometric login (such as fingerprint or facial recognition) for added security
- Card control (lock your card, set spending limits, block gambling transactions)
- Real-time support (chat with a real person in the app)
- Smart notifications (alerts for bills, paydays and low balances)
- Goal setting and expense tracking to help you budget
- Advanced transaction visibility and filtering so you can see exactly where your money is going
- Integration with digital wallets and wearable technology for even more convenience
Why security and transparency matter more than ever
The ACCC’s latest report on digital platforms is a wake-up call for all of us.
Nearly three-quarters of Australians surveyed said they had encountered potentially unfair tactics on digital platforms—think hidden fees, sneaky subscriptions or confusing app designs that make it hard to get help or a refund.
With scams and cyber threats on the rise, it’s never been more important to choose a banking app that puts your safety first.
Mozo’s award criteria reflect many of the ACCC’s recommendations, including transparency of transaction data, warnings for insecure Wi-Fi connections, and easy access to secure customer support.
The best of the best: Australia’s top banking apps for 2025
While Westpac took out the top spot, several other banks were hot on their heels, earning ‘Highly Commended’ status for their user-focused platforms and robust security features.
These include:
- ANZ Plus
- Commonwealth Bank
- Macquarie
- Up
Each of these apps offers a strong mix of essential features and innovative extras, making them excellent choices for anyone looking to manage their money safely and efficiently.
What about smaller banks and credit unions?
It’s worth noting that Mozo’s analysis focused on banks with at least $1.6 billion in household deposits, so some smaller regional banks and credit unions were not included.
However, many of these institutions are also investing in digital innovation, so it’s always worth checking what your local bank has to offer.
How to stay safe when banking online
No matter which app you use, there are a few simple steps you can take to protect yourself:
- Always use biometric login or a strong password.
- Enable notifications for all transactions so you will know instantly if something is amiss.
- Never share your login details with anyone, even if they claim to be from your bank.
- Be wary of public Wi-Fi—avoid logging into your banking app on unsecured networks.
- Regularly review your transactions and report anything suspicious immediately.
The bottom line: Choose wisely, stay informed
Mobile banking is here to stay, and for most of us, it has made life a whole lot easier.
But as the ACCC’s report makes clear, it pays to be vigilant and to choose a banking app that puts your security and peace of mind first.
Have you had a great or not-so-great experience with your banking app? Do you have tips for staying safe online, or questions about which features matter most?
We would love to hear from you. Share your thoughts and experiences in the comments below—let’s help each other make the most of modern banking, safely and securely.
Also read: Days are numbered for this common banking security method—here’s why
