Both actually. 86 400 is a neo bank that launched to the Australian public in late 2019 joining a number of other start up banks like Up and Xinja. Lets have a lookc loser at their offering and see if it’s worth using them as your bank account.
Signing up with 86 400
Signing up for an account with 86 400 was very easy and similar to Up. You just download their app from your app store and follow the steps for creating an account. Everything is done in the app and as you would expect with a neobank, no need to visit a branch to verify anything. The card will be sent to you shortly after you have signed up. But if you want to use the account straight away you are able to set up Apple Pay and Google Pay.
86400 – Sign Up – Identity Verification. 
86400 – Sign Up – Personal Details 
86400 – Sign Up – Address. 
86400 – Sign Up – TFN Details
The Card and Welcome pack
Like the other neo banks, 86400 has chosen a bright colour for their card – cyan/aqua. I think the colour choice is fantastic. The design is very minimal and simple, and I’m sure some other people will love the colour. Unlike the other neo banks, there is no extra welcome pack with stickers and other paraphernalia. I appreciate this as it seems a bit wasteful as it likely doesn’t get used and really doesn’t provide much value.
86400 – Delivery of card. 
86400 – Visa Debit Card
The App
Being a neo bank, 86400’s app is key to their success as a business. Their app is great, super easy to navigate and the UX experience is smooth. The quality of the app is comparable to Up’s offering and contains many of the same features. The dashboard gives an overview of the account. The account, payment and card screens offer management of those features. The profile screen allows yo to manage your account and access help if needed.
Accounts
86400 offers two types of accounts currently – Pay and Save. These are transaction and savings accounts respectively. Payments can only be made from the Pay account and not the Save account, and they utilise the OSKO/PayID network for quick payments.
The Pay account and attached Visa Debit card have recently had their international transaction fees removed. This makes it a very competitive product compared to the likes of ING, UBank and Macquarie.
The Save account also offers a respective 1.85% interest, which in this current environment is among the best. This interest rate only requires $1,000+ to be deposited per month into any of your accounts. Otherwise it reverts to a base rate of 0.25%.
86400 Bonus $10
Until the end of June, 86400 are offering $10 to all new accounts that sign up and make a purchase using the card. All you need to do is use this code, 44ZFG85, when you sign up for the account. We will also recieve $10 if you use this code.
Home loans
Recently, they have starting offering home loans which are also at a competitive rate. They could be a good option to investigate if you are looking for a new mortgage or looking to refinance.
Environmental Stance
Recently, I have become a lot more aware of climate change and the impact it could have on our future. I think this is important in relationship to my goal of financial freedom as I want our environment to be in a great condition so I can enjoy it. In saying that, 86400 have committed to not investing in any fossil fuel related investments. Many smaller and newer banks share this stance. I think this is fantastic stance to have not only morally but also economically as fossil fuels days are definitely numbered.
Summary
In summary, 86400 have created a competitive product that should be very appealing to a lot of customers. Their app and sign up process is externally slick and easy. Their actual accounts are also fantastic, offering a great interest rate on their savings and some great perks on the transaction account. I also appreciate their stance on the environment and climate change. I would hesitate to recommend 86400, as I think they have one of best offerings in the current environment.