Key features:
The BankSA Complete Freedom Account has one of the largest ATM networks in Australia with free withdrawals from BankSA, Bank Of Melbourne, and Westpac ATMs. You can also access your cash through phone and internet banking, in branch or via EFTPOS.
The bank account comes with a Visa Debit Card, which means you can shop anywhere Visa is accepted around the world. Plus you’ll also be able to make “tap and go” purchases in Australia, thanks to Visa payWave functionality.
There’s no need to worry about security either, as the bank account comes with BankSA Fraud Money Back Guarantee ensuring you will be fully reimbursed for any unauthorised transactions from your account. In addition BankSA Secure guards both your information and finances with rigorous security measures, such as encryption technology.
As with many standard bank accounts, the BankSA Complete Freedom Account isn’t specifically designed for overseas spending. It comes with a 3.0% currency conversion commission, as well as a $5 overseas ATM withdrawal fee at any ATM outside the Global ATM Alliance, which could quickly take a chunk out of those travel savings, if used frequently. If you’re in the market for a travel friendly bank account, compare deals in our travel debit card section.
Also keep in mind, the bank account pays no interest so it’s best to keep the bulk of your funds in a linked high interest savings account and transfer across.
Who it's good for:
The BankSA Complete Freedom Account is an ideal choice if you’re looking for easy, around the clock access to your green.
Any catches?
There is a $4 periodical payment fee, for payments made to accounts outside of the BankSA, Bank of Melbourne or St.George networks. This means if you require BankSA to transfer your money to another account on a regular basis on your behalf, it will bill you $4 every time the transaction occurs. You can avoid this fee by doing the transfer via online banking yourself.
