Australia’s banks have offered internet banking services since the mid 1990s. As the practice has become more popular they have incorporated more and better features. There are four major banks in Australia: ANZ, Commonwealth, Westpac and NAB (National Australia Bank). All provide internet banking services for customers, but each offers different structures and options.

Internet Banking- Commonwealth Bank of Australia

The Commonwealth bank offers an internet banking service called Netbank. Consumers can use BPay, a system to pay most common bills, through Netbank, and transfer funds between credit card, loan and savings accounts.

The Commonwealth also has a high interest-bearing account called Netbank Saver, which offers higher rates of interest for clients. The account is internet-based and funds must be withdrawn through another account to be used.