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Open an Account and Get $20 after Your First Purchase @ 86 400 Neobank


Joining 86 400

  1. Download the 86 400 app. Get it on Google Play or App Store

  2. Enter an NEWYEAR20 code on the ‘About you’ screen when signing up

  3. Make a purchase within 30 days using your card, watch or phone.

That's it! You'll receive your bonus in your Pay account within a couple of days.

Terms and Conditions:

Double bonus offer: Customers who join between 1 January 2021 and 31 January 2021 using the code NEWYEAR20 and make a purchase within 30 days of opening an account will receive a payment of $20 into their Pay account.

There are always a few people who will try to game the system, so here are some fair play conditions.

We retain the absolute right to refuse to pay or cancel a “First Purchase Bonus” payment without notice to you. The reasons for us to refuse or cancel a payment may include, but are not limited to, if:

● we believe that your access to the 86 400 app is      or may be fraudulent.
● we believe that you have threatened the security of 86 400.
● we believe you have breached any of the 86 400 General Terms
● we believe you are acting in bad faith.
● we have closed your account.
● your account contains unpaid charges or is overdrawn.

We also retain the absolute right to stop the offer at any time and to change the conditions or incentive of the offer.

Referral Links

Referral: random (922)

Referrer and referee each receive $10 after referee makes 5 settled card purchases within 30 days.

Related Stores


closed Comments

  • +1

    Any downsides to this? Anyone dealt with them before?

    • +6

      I'm very happy with them. 1.25% on savings (up to 50k) as long as you deposit 1000 per month.

      supports gpay

      only downside is that you can only log in through the app.

      sexy card and sexy socks if u tweet at them

      • +4


      • +2

        where these socks at???? :o

        • You have to tweet the card at them.

          Not sure if it's still running tho

          • +4

            @akib: still waiting for those socks from months ago, even after getting their confirmation on instagram

      • +4

        After emailing them, I received a pair of socks, a zipped tote/bookbag, a tumbler bottle, 2x retractable ballpoint pens with stylus ends and 2x stickers.
        Didn't know you could send them a Tweet, but emailing seems to work as well.

        • Did you email them out of the blue?

          I kinda want some pens and stickers :D

          • @akib: Yep. Saw people posting their sign-up merch on the 86400 FB group and I politely requested it. Pretty sure it was either email or in-app support. They said that merch is sent to new sign ups if avail and to make sure my adress was correct, yadee yadee yah. So I assumed that was them telling me no. Until ~2wks later I got their mail 😃

        • How long ago was that?

    • +4

      Been using them for 6 months overall pretty good, never had any problem the only downside is 5000 daily transfer limit but you can call to increase temporarily.

      • Downside: you do indeed have to call and the line isn’t 24/7 or even 365. Closed on weekends.

        Upside: once validated even the larger transfer is osko-enabled. You can send your entire balance in real time.

    • +1

      I'm very happy with them!

    • -2

      Yep. The downside is that the same promo runs for referrals. So with this only you get the $20 whereas with a referral you both get $20 so you share the love.

      • +18
        • +5

          How dare OP corrects commenter who didn't check facts! :P

        • +2

          Neg removed. My appolgies. I can see now that the mods have also updated the referral system.

          • @stickyfingers: do the referral and this promo stack up???

            so referee gets $10 + $20 and referral gets $10???

            • @thomalfa: Probably not.

              It seems to only allow you to enter 1 code at sign up - so you can either enter the referral code or NEWYEAR20

  • +7

    Neobanks were already going to find it tough to break the big banks before COVID-19 but it made it almost impossible. A combination of low interest rates (harder for banks to make money) and people not wanting to risk having their money in anything but a stable institution makes it nearly impossible for these guys.

    Just ask Xinja:

    • +4

      some neo banks are backed by the big banks though

    • +1

      Neobanks that are owned by legacy banks are playing catch up to fintech. They will all eventually eat dirt and so will their parents.

    • +7

      Neo's were never aiming to compete with the Big 4 despite what their marketing might say. They want to create a flashy digital experience, grow fast and then get bought out by a big bank.

      None of them have of had a model to scale because as they grow their regulatory obligations also grow which make them just as hindered and cumbersome as a big bank. So endgame was always to get bought out for their digital platforms and engaged customer base.

      Xinja and Volt don't have big bank backing, so they were always likely to be the first to fold. One down…

      86400 should be good for a while longer.

      • +4

        agree, 86400 is the stand out, and offers loans indicating a significantly more mature and stable organisation and is my pick of the (neo) bunch, even though I have a soft spot for Up!

        It's also backed by Cuscal who have significant tech/infastructure in the payments space to leverage.

        Hay ( https://www.hellohay.co/ ) may also be in a precarious position. Volt have the back-end to support loans too, but they have been pretty slow out of the gates with simple debit accounts, which is a concern.

        Yep, just keeping the lights on and keeping regulators and schemes happy is difficult, never mind trying to innovate and make money without screwing your customers.

        • My guess is when AfterPay eventually gets regulated and then decides to become an ADI, you'll have a 'Neo' competitor to the banks as they'll have a large set of customers from the get go.

    • +6

      people not wanting to risk having their money in anything but a stable institution

      I need those people to continue bank with the big 4, pay monthly account fees, get peanuts saving interest, pay high interest rate on their mortgage to subsidise bargainers like us.

      I need them to be risk adverse for my benefits.


      • +13

        The Big 4 is also good for anyone that wants to do some no questions asked money laundering.

        • no questions asked money laundering, sure you're not talking about crypto?

          • +6

            @buckerooni: All the transactions were done using fiat. Legacy banks are the go-to guys for the goodfellas when they want they money laundered.


            In many cases, Westpac also failed to pass on information about the origin of these transfers, or the source of funds to other banks involved in the transactions.

            It also failed to keep records about where the money came from in some cases.

            Westpac has also admitted it failed to properly assess and monitor the risks associated with some of these foreign transfers, some of which were with banks in "higher risk jurisdictions" including Iraq, Lebanon, Ukraine, Zimbabwe and Democratic Republic of Congo.

            The bank also failed to make adequate checks on some customers who were sending regular payments overseas, and also failed to pick up on payment patterns typical of child exploitation activities, despite repeated warnings from AUSTRAC for banks to do this.


            In summary, CBA accepted that:

            it failed to carry out an appropriate assessment of the money laundering and terrorism financing (ML/TF) risks of its IDMs prior to October 2017
            it failed to complete the introduction of appropriate controls to mitigate and manage the ML/TF risks of IDMs prior to April 2018
            it failed to provide 53,506 threshold transaction reports to AUSTRAC on time for cash transactions of $10,000 or more through IDMs from November 2012 to September 2015, having a total value of about $625 million
            for a period of three years, it did not comply with the requirements of its AML/CTF program relating to monitoring transactions on 778,370 accounts
            it failed to report suspicious matters on time, or at all, involving transactions in the tens of millions of dollars
            even after it became aware of suspected money laundering or structuring on CBA accounts, it did not monitor its customers to mitigate and manage ML/TF risk, including the ongoing ML/TF risks of doing business with those customers.


            Regulators hit banks with a near record $10 billion worth of fines in a 15 month period through 2019, and the figure is expected to increase in 2020. That's according to a new report from Fenergo, a European startup that makes software to help financial institutions detect illegal transactions.

            According to Fenergo's research, 60.5% of the fines came from banks violating anti-money laundering rules, while nearly all of the rest—38.7% of fines—arose as a result of transactions with countries under sanctions. In the latter case, it was U.S. regulators that levied almost all such fines, amounting to a total of $3.67 billion in penalties.

    • One problem with these banks is they take lot of deposits but there is no outgoing in terms of loans. That is where bank can make money i.e., getting deposits at lower rate and selling loans at a higher rate with a margin. Xinja got a lot of deposits for which they had to pay outgoing interests but loan accounts were never introduced. Thereby losing money every month. Without new investors to put in funds for this company, it’s running out of money and hence closing down.

      86400 have home loans but I doubt they will be able to completely use their deposits for this as they would not have much applications. But they are in better condition then Xinja.

      UP has a benefit of having Bendigo bank who would be able to utilise those funds in giving loans.

  • +4

    This or Up

    • Can't go wrong with either I reckon. I'm with Up and love how in depth the app is but I've also only heard good things about 86 400

    • Unless you want 0% on your money, it's a bit complex with UP!!

      To get UP's 1.1% interest on your money…

      Need to move money into SAVERS you set up for interest on your money…

      You need to make 5 purchases each month for base rate of 0% to have 1.1% BONUS interest added.

      Didn't realise that when added money on Jan1. Had made 5 purchases on 31/12, but needs to be added each month before interest rate is shown as increased.

      And takes time for purchases to be assessed & interest rate increase shown…

      Am new to UP.
      Seems to get any interest on your money in the account, it is necessary to make 5 purchases at start of each month. Interest is calculated daily, so I assume there is no interest until Bonus interest is added??
      (Coles/Woolies split payment - insert card, select Savings for fastest processing through Debit not Credit)

      Will confirm with UP.

      • From UP: (correction to above)
        If the interest criteria of five or more card purchases has been completed in a calendar month, the entire calendar month will be applied with bonus interest, including the days before the fifth transaction was completed 😉

        e.g If five or more card based purchases are completed by mid December, the bonus interest rate will be applied to the whole of December 💰

        The bonus interest rate then resets every calendar month 🗓

        • +1

          Thats the same for ING too…. Not that complex, just involved.

          • @avoidfullprice: Yes, once understood & set up - it's easy.

            Setting up UP account this week with conditions that seemed vague - just seemed complex. (OK now it's been clarified). Interest limited to $1M investment. It's easier than ING!

            Even easier with this offer. Just a monthly transfer of $1k. Interest limited to $50k investment.

            Am used to ING over years. Set up monthly transfer of $1k in (& out if necessary) & a reminder to make split payments at supermarkets once a month. Interest limited to $100k investment.

            In 1 purchase @Woolies today, did 5 purchases of 5c each for UP & ING & rest by discount eGift card. Already transferred $1k to ING & 86400. So all set up for January!

  • -2

    Much better to use a referral (see post bottom) so that two people get $20 each.

    • -2

      Nevermind. It has now changed to $10.

    • +7

      $10 is better than $20?
      Shows in app as $10 referral now.

      • +1

        The OzB referral system was still showing the old $20 promo as of the time as posting.

        • That's why I checked in app after signing up!

    • https://www.86400.com.au/refer-a-friend/

      Don't know how 2x $10 is better than $20.

      • It’s better for the referrer.

  • +1

    Are deposits protected through the Australian Financial Claims scheme?

    • +5

      "86 400 has a full ADI-licence from the Australian Prudential Regulation Authority (APRA). This means the bank is regulated in the same way as other ADIs in Australia, including the Big Four banks. As such, your deposit up to $250,000 with 86 400 is guaranteed by the Australian government."

      • +1

        Great. Thanks.

      • +2

        ^guaranteed by the Australian government if the government approves the scheme before the bank goes bankrupt.
        *terms and conditions and total allowed sum for all customers applies

  • +1

    Which box should I enter this? I can only find the referral box on iOS app

    • Missed it in Android app - sent them an email. Only saw option to add Referral.

      • Same, the only place I saw to enter a code was the Referral one (maybe I should have just put it in there?)

        I've sent an email in too

        • -1

          Glad / sad I'm not the only person who couldn't find it.

          • +4

            @INFIDEL: If they don't sort it out we can send each other $20 and just pretend we did it right

            • @rekuhs: 😂

            • @rekuhs: Received email:
              Unfortunately we are unable to add a referrer code once you have signed up. This option is available only through the app and a space was provided during onboarding.

              As a gesture of good will, we are happy to honour a $20 payment to your account once you have satisfied the conditions of the campaign which can be found here https://www.86400.com.au/first-purchase-bonus/

              We ask that you please respond to this email once you have made a payment. Please allow a couple of days for the bonus to appear in your Pay account.

              • @INFIDEL: Thanks I got that one too, I was getting sad when I started reading it but then it got happy.

                • @rekuhs: It was the reply I expected - we can't do that, but there is another way! Almost as easy.

              • @INFIDEL: Received the $20 days after notifying bank that had spent money.
                All good.

    • +2

      Told by bank this promo code has to be entered in Referrer code box!!

      Wasn't made clear in Deal Description:
      Enter an NEWYEAR20 code on the ‘About you’ screen when signing up

  • I need account/card for overseas purchase. This or UBank? Appreciate advice. Tq.

    • try revolut. can create unlimited one-use cards. no fees.

      • +1

        Had a look, but their plan selector infers that the single use card thing is only available on their $11pm plan :(

        • i have their free plan and I'm able to use it

        • +2

          You can generate one disposable virtual card per month.

          Protip: Uber, UberEats and Netflix know how to recognise those cards and will cancel your account if you try to use it.

          • +1

            @Blue Cat: you can generate one at a time. you can use unlimited amount of times. for uber, it works if you do it through PayPal

            • @follow: What's the benefit of using virtual cards for Uber?

              • +1

                @rev0: I believe it's so you can open multiple uber accounts to recieve coupons and offers as I think they block duplicate accounts with the same card IIRC

                • @lachhelix: Ah interesting, thanks. You would need multiple phone numbers as well - disposable SIMs I'm guessing?

                  • @rev0: $2 telstra sim. not needed to add a plan. or delete your account after use and reuse in a month.

                    • @follow: You can re-use the same SIM and get different phone numbers?

      • Thanks. Will check it out.

    • Free international payments (no fee and good exchange rate) with 86400 I bought my parents xmas present from europe and was excellent

    • Either are good


      We don’t charge ATM withdrawal and foreign exchange fees when you access your USpend transaction account overseas, or for online purchases with overseas merchants.


      No monthly fees
      or international card payment fees

      • I guess UBank will be more advantage in case I need to withdrawal when in overseas. Any idea if their exchange rate is good rate.

        • It probably would as they also have the sweep feature so more of your money is kept in your savings account.

          I don't know what their rates are.

          There is also Citibank Plus which I think gives you the Visa/MasterCard rate and no fees.
          Ubank could also be the same

          • @spaceflight: If you're considering Citibank, I'd suggest Macquarie instead. All the same benefits but a much, much, much better app and website.

  • +3

    Where does the name come from? Looks like the start of a telephone number in China. Very strange choice.

    • +13

      seconds in a day

      • +13

        Hold on… counts with fingers They’re right!

    • It's the amount of seconds in a day

      • 86,400. But 86 400 looks like a phone number.

  • +1

    Any other everyday account deals they offer more money than $20?

    • Bank of Melbourne

      HSBC (was 100 not sure if running)

      St George


      (Not sure if either is running, but they run them time to time)

    • +7

      No, that was Xinja

    • +5

      It says xinja in the article…

  • fyi their bonus interest rate only applies to 50k previously this was 250k

    • +2

      I just split them up into three Savings accounts 50k max each for total of 150K.

      • 150k is a lot to put in a savings account. Are you planning on using it soon?

        • +2

          Yeah, just parking oncall cash once the right investment property comes up.
          Its 1.2%.. add in inflation and tax its basically 0%.

    • Maybe consider other form of investment than this one if u have over $50k cash available?

  • awesome just signed up. I assume I need to put money first before purchase? is there any minimums on the purchase? thinking of just putting $5 lol

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