Depends on what you're looking for really.

I swear by my BankWest Zero account which is our everyday transaction account, needs a minimum of $2K deposited a month (so our pay), has no fees, free withdrawals from any of the "big 4" bank atms and unlimited eftpos. Plus it has a handy $100 overdraft for just in case and is a debit mastercard as well for online stuff. I think Commonwealth and ING do similar type accounts.

I found it does help to go into your bank and tell them exactly what you want and what you're looking to use it for and see what they recommend. Most will try to match you up to the best product for your needs and if you're not convinced, look elsewhere.