Perhaps cursed by the very popularity of online banking, ANZ leads this month’s pack in the inauspicious category of Most Number of Timeouts during testing. Timeouts are not only frustrating, but they can lead to more serious issues, such as being unsure whether you’ve successfully logged out and interruption of transfers or other activities. We even had it interfere with password changes, causing us to be locked out on subsequent login attempts. We can only hope this is a temporary problem and it will be fixed soon.

Otherwise, ANZ presents a slick and well-featured online banking service. When you log in it presents you with a quick summary of recent logins and any changes to your contact details, so you can determine if anything fishy has occurred. We wonder how many people will actually pause to reconcile the record with their calendar, but it’s a useful security addition.

The interface to the site is clean, with a single navigation menu down the left hand side, which gives access to the huge array of features on offer. You can also customise your online banking to some extent by giving individual accounts nicknames and changing the order in which they appear. You can only update your email address online, leaving address and phone number changes to be done over the phone or at a branch.

Security is handled in a fairly conventional manner, with a single password to log in and no additional safeguards, such as SMS or tokens, unless you’re using a business account. There is a visible link underneath the login on the front page that points you towards important anti-phishing information, but there’s no additional support in terms of security software on offer.

ANZ allows you to do all the regular activities, including internal and external transfers, as well as scheduling, overseas transfers and stop cheques. You can even order a bank cheque, which will be delivered to any address in Australia. Another innovative feature is the ability to add a $500 credit to your account for a $5 monthly fee to protect against overdraft fees. Bills can be paid through BPAY View and transfers can be made within Australia and overseas. Sadly, transaction history only goes back 120 days, although it can be exported in a number of formats.

ANZ is a leader in this month’s roundup in terms of mobile banking, with both SMS and GPRS supported. Not only can you access mini statements via SMS, but you can download a full banking app that allows you to transfer funds, change your password and issues time triggered account balance alerts.