Bank account types

Hi Xinja’s,

Long time no speak.

Just wanted to clarify what bank account offerings we’re looking to roll out when the full licence comes through?

Will there be separate transaction account and savings account products, each with their own account number and interest rate?

Can customers open multiple accounts of each?

I know you’re looking to implement ways to separate functions within a single account, but my preference will be to have them completely independent of each other. Is this going to be the case?




Hey @brett,
Nice to hear from you :+1: These are all very good questions. We’re sharing our bank account roadmap (subject to full ADI) this week so if you can bear :teddy_bear: to wait a few days, we’ll answer your questions very soon! :_ninja_emojis_lilac_01:
@nanoxinja :ninja_emojis_pink_02: :_ninja_emojis_lilac_01::ninja_emojis_blue_03:


Hi Sarah,

I had a look at the roadmap, but it didn’t really answer my questions or provide any timelines between releases.

Ie. Google Pay not until release 2, and BPay in a release after that. Would be good to know how far away they are as I couldn’t really consider using it until they’re supported as they’re pretty standard things I use regularly.



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Yes, I too was surprised that BPay was in release three. I guess I’d have to wait until then until I move my finances across completely! Though I could probably move my pay across before then and leave my old account and just transfer it back…
Is there a possibility of prioritising BPay over e.g. categorising transactions if it gets enough votes?

Hi @brett,
Sorry for the delay in getting back to you on these. Taking these in turn: :ferris_wheel:

On separate products: the plan is the beta xinja transaction account won’t pay interest. Only xinja savings account earns interest. :chart_with_upwards_trend:

In the first few releases of xinja bank accounts launch, a customer will only be able to open one account of each of transaction & savings accounts. :balance_scale: This may change in the future.

On independence: the savings account is linked to transaction account but will act as it’s own account. You can’t get a savings account without a transaction account. An independent account for savings is on our future roadmap down the track :crystal_ball: :railway_track: e.g. term deposits, cash management accounts. As soon as we’ve got a better handle on time frame, they’ll go in the roadmap :railway_track: :wink:

The above product answers are obviously pending Xinja receiving our full banking license (ADI), which is down to the regulator.

Let me know if I answered your questions & feel free to jump back on :man_cartwheeling::woman_cartwheeling: & ask away :nerd_face:

Hey @brett,
:+1:Good questions. I’ve just jumped on & answered your queries in original thread. Let me know if you have any others.

On timing of Google Pay & BPAY within releases. Releases will be a matter of weeks :biking_man::biking_man:

I hope this helps you make a decision to trial us - as we’re looking forward to launching the beta Xinja bank account to you @brett & :australia:!

Hi Sarah @nanoxinja

Thanks for answering my questions.

I say this with no spite intended because I realise you’re all working hard and doing your best. As an investor though I really hoped that I’d be able to move all of my banking to Xinja right away (and encourage friends and family to do so), but what you’re planning to launch with is simply missing too many of the ‘must haves’ that I need in my day to day banking.

It is disappointing because my banking habits are not overly complicated, but having three separate accounts is a must have… I can’t be without that. One transaction account (interest earning not important, but given most other banks pay a nominal amount Xinja’s lack of is a bit of a miss), and two Savings accounts with higher interest (one for savings, and one for mortgage funds to go in and out of). There isn’t a bank I know of in the market that I couldn’t have that with.

I use Bpay regularly to pay utilities, rates and almost any other bills that come in as part of running a household, so not having that upfront is another missed opportunity.

The other interesting decision is that you’re launching in Beta? Seems strange given Xinja was born with a Beta app and debit card. Makes that initial process seem to be a bit of a waste of time.

In any case, all the best with the license and launch, but I’ll have to wait until you’re ready to offer the accounts I need.



Hi Brett

Its Eric here, I saw your thread and the very reasonable requests you were talking about and I wanted to reach out.

Firstly thanks for all your support, investment and advice. It’s all very much appreciated.

We absolutely intend to provide a full service bank (subject to regulatory approval) that you can move all of your financial life to, and very much hope that it will revolutionise the way you think about banking….that’s the reason we have spent so much time with our crowd funders and customers to actually build an entire bank, not just a front end to stick on someone else’s.

The downside of that however is that we have to start slowly and in beta. A big bang release of everything all at once carries an amount of technology and implementation risk. So we made the call to go conservative, start off small and start to iterate and develop rapidly from there. It’s worth noting the very successful Monzo over in the UK stayed in beta for a long time, and they like us, didn’t suggest customers dump their other bank during the beta process.

It’s probably also worth us being clearer in communicating that this roadmap is over a fairly short time frame…its not over a year or even over six months. We also intend to give existing customers and those on the wait list access first in the beta period…so by the time we go out to the “wild” its pretty likely we will be onto the next roadmap period with more of the features you mentioned.

We wouldn’t recommend moving your entire account to us in the first few months of the beta, just open an account and have a play, give us feedback and enjoy seeing the bank develop in front of your eyes. Once we are out of Beta and you are feeling confident that the account can handle everything you need, then it’s time to swap.

I hope we will amaze you by how fast the functionality will develop from the starting point, and the things we can offer. This roadmap is just the starting point for the first few months… and of course we might also have a few surprises in development for you as well!

Thanks again for your support, it means a huge amount to us. We built this bank to help people, as well as make money, so it’s really important to me and to all of us here, to understand what you need and want.

All the best


PS Reach out to me over DM’s if you want to catch up over a coffee to talk this through in more detail. E


In a similar vein to Brett’s post, I’m saying this with the best intentions as an investor who genuinely wants to see Xinja knock the lights out.

I think as an investor it is very hard to accurately assess where Xinja is at relative to its peers at the moment.

It is my opinion this can be partially explained by the different approaches to building hype. The Xinja team seem to be taking a more traditional start-up approach and yelling the message from the rooftop. Whereas Volt are quietly kicking goals in the corner and doing the opposite. Hence, I think an expectation gap has opened of where Xinja is at relative to the hype.

Will be very interesting to see how it all plays out though and I’ll be more than happy to eat my words. All of the neo-bank founders/CEO’s have said that customer acquisition is one of the biggest challenges and I think Xinja have by far done the best job at building a tribe so far.

Hi Eric @XinjaMaker ,

Thanks for taking the time to read my post and to give me a personal reply. It’s much appreciated and you’ve given me and anyone else who reads some great insight on the process and good advice about when to move all our banking over to Xinja. At the end of the day I’m really excited to be a part of something new and to be honest, if you were based in Melbourne I’d be knocking your door down for a job!

I think some of the confusion, or disappointment in my case, is probably around how the process has been communicated publicly. My understanding based on everything the team has been saying was that the initial Beta app and debit card were the precursor to the banking license and a market ready bank account (singular, not plural). So to hear that the next phase would also be in beta makes the process so far seem a little bit of a waste.

@nanoxinja Does being part of the initial beta mean I’m om the wait list?

Thanks again.


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Hey @brett,
Getting back to you on your waitlist query… :point_right:If you are an existing :ninja_emojis_pink_01:Xinja Prepaid Beta customer it means, you are automatically on our waitlist for Xinja’s Beta Bank Accounts (via the email we have on your :lock_with_ink_pen:prepaid file). :ninja_emojis_pink_02:

Broadly speaking, the earlier you signed up for Xinja’s Beta Prepaid card, (& have been on the journey :railway_track:with Xinja), the earlier you’ll be up the waitlist, to receive an invite to open Xinja’s Beta Bank account.

Did I answer your question? In any case, I hope this answer @XinjaMaker’s response & offer to reach out personally, has helped to answer all your questions, so far.

Do let us know if you have any other questions :bulb: or feel free to contact us in any way you prefer. Via these forum threads or forum DMs to either of us.

Or if you have any specific account queries feel free to ask via in-app chat, 1800 946 527 (or +61 2 8598 8525 if overseas) or email us at


nb: The above answers on Xinja’s beta bank accounts are pending Xinja receiving our full banking license (ADI), which is down to the regulator.