Head-to-head
Hnry Account vs Up Bank: Tax-Routed or DIY Bucketing? (2026)
Both are popular with AU sole traders. They take very different approaches to the same problem — making sure you don't accidentally spend your tax money. Hnry deducts tax automatically before you ever see the funds. Up gives you the tools to bucket it yourself.
In this comparison
- Tax automation vs DIY bucketing — two philosophies.
- 10-row side-by-side feature comparison.
- Cost math: 1% capped vs $0 monthly.
- Verdict per use case + FAQ.
Last updated
30 April 2026
Format
Head-to-head + verdict
Tools compared
2 (Hnry, Up Bank)
The structural difference
Hnry vs Up Bank, in one line
Hnry routes your customer payments through them — they deduct income tax + GST + super on every payment and pay you the post-tax amount. Up gives you a free everyday account + powerful Saver Spaces + an auto-Rules engine, and you do the bucketing yourself. Same outcome (you don't accidentally spend tax money), very different philosophies.
Hnry
Sole trader tax + invoicing on autopilot
Hnry — tax automation built into the account
1% of income (capped $1,500 +GST/yr). Customer pays Hnry; Hnry deducts income tax + GST + super; you receive the post-tax amount. BAS and tax return lodged for you. The account is the tax service.
Best for sole traders who'll forget to bucket
Up Bank
Fee-free everyday banking with great Saver Spaces
Up — DIY bucketing, $0 fees
Free AU everyday account with unlimited Saver Spaces and a powerful Rules engine. Set up rules to auto-move 1/11th of every payment to a GST Space + your tax % to a Tax Space. You lodge BAS + tax yourself.
Best for disciplined sole traders who'll stick to the rules
Side-by-side
10 rows of honest comparison
Pricing accurate as of the last update date. Both providers change plans periodically — confirm before signing up.
| Feature | Hnry | Up Bank |
|---|---|---|
| Cost | 1% of income, capped at $1,500 +GST/yr | $0 monthly, no minimum |
| Tax routing | Hnry deducts tax + GST + super on every invoice | You set up the Rules; you transfer to ATO yourself |
| BAS lodgement | Lodged for you (included in fee) | You lodge (Up doesn't touch BAS) |
| Income tax return | Lodged for you (included in fee) | Separate — you / your accountant lodge |
| Super contributions | Auto-deducted + paid | You set up the rule + manual transfer to your super fund |
| Bucketing UX | Not needed (it happens before you see the money) | Class-leading — Saver Spaces + Rules engine |
| Discipline required | None — Hnry just does it | You set the rules once + check quarterly |
| Mobile app | Functional — primary purpose is tax service | Class-leading — playful, phone-first |
| Best at | Outsourcing all tax admin | Free everyday banking + tax bucketing visibility |
| Best fit | Solo operators who hate tax admin | Disciplined sole traders who want zero fees |
Verdict
Pick by use case, not by hype
Verdict
Pick Hnry if…
- • You've previously been hit by a tax bill you couldn't cover.
- • You don't trust yourself to keep tax money ring-fenced.
- • Your time is worth more than the 1% fee — you want tax to just stop being your job.
- • You're earning under ~$150k (where the 1% cap stays competitive vs paying for an accountant).
Verdict
Pick Up if…
- • You're disciplined about money and won't dip into Saver Spaces.
- • You're earning enough that 1% would cost more than DIY + an accountant.
- • You want a 'normal' bank account experience with great bucketing.
- • You want to control which deductions you claim yourself (or via your accountant).
FAQ
Common questions
- What's the actual cost difference?
- Hnry: 1% of every dollar of income, capped at $1,500 +GST/yr. So at $50k income, that's $500. At $150k income, the cap kicks in at $1,500 (~1%). Up: $0 forever. But the Hnry fee INCLUDES BAS lodgement + income tax return + super admin (worth $300-1500/yr if you'd pay an accountant). True comparison: Up + (your time or accountant fees) vs Hnry's flat 1%.
- Can I use Up but get Hnry-style automation via Saver Space Rules?
- Mostly yes. Up's Rules can auto-move a % of any incoming payment into a Saver Space. So you set rules: 1/11th of every incoming payment → GST Space; 28% (or your bracket %) → Tax Space; 12% → Super Space. You still have to (a) manually transfer money to the ATO at BAS time, (b) lodge BAS yourself, (c) lodge your tax return yourself, and (d) contribute to super manually. Hnry does all of that.
- What if I switch from Hnry to Up later?
- Update your customers' payment details to your new Up account number (Hnry will give you a 30-day handover). Set up Up's Saver Spaces and Rules. Make sure you take over BAS lodgement (talk to your accountant or use the ATO's Business Portal). Most operators switch at the start of a new financial year for a clean cut.
- Can I use both?
- Technically yes — Hnry as the income-receiving + tax routing account, Up as the post-tax operating account where Hnry deposits your take-home pay. But this defeats most of Hnry's value (you're paying 1% for tax routing only). Most operators pick one.
Related
If you want the broader picture
Comparison
All 5 sole-trader bank accounts compared
Up, Macquarie, Wise, ANZ Plus, Hnry Account — the full listicle.
Read →
Comparison
Hnry vs Rounded
If you're picking your sole-trader software (not just an account), this is the deeper comparison.
Read →
Comparison
How much tax to save as sole trader
Rules of thumb per income bracket — useful for Up's bucketing setup.
Read →
Disclosure + disclaimer
How this comparison was put together
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