Bankwest Easy Transaction Account

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The Bankwest Easy Transaction Account has earned its name, with no monthly maintenance fee and no domestic electronic, cheque, phone or over the counter fees (withdrawal and deposit). Plus, you can avoid pesky ATM fees at over 10,000 major bank ATMs Australia wide within the Bankwest, Commonwealth, Westpac, NAB and ANZ networks.

Key features

Bankwest Easy Alerts is a feature on the Easy Transaction Account that helps you keep on top of your everyday banking by providing updates on your personal transaction and saving accounts.

With the Easy Transaction Account you'll pay no monthly maintenance fee, and there's no opening deposit or minimum balance required. And no matter the time or day, you can access your cash 24/7 with Bankwest's online banking and phone banking services.

Not only will you have great ATM access in Australia within the Bankwest, Commonwealth, ANZ, Westpac, NAB, St.George, Bank of Melbourne and Bank SA networks but you'll also be able to use your card wherever Mastercard is accepted around the globe with its Debit Mastercard. Speaking of Mastercard, the Easy Transaction Account lets you "tap and go" at the check out with Mastercard for purchases under $100.

If you're a big earner and deposit $4,000 a month you'll be eligible for the Platinum Debit Mastercard with exclusive benefits, including a complimentary concierge service, purchase security, extended warranty and dining, retail and entertainment privileges. 

Remember, just like most transaction accounts in Australia, there's no interest rate and the Easy Transaction Account has a $1,000 a day ATM withdrawal limit (or $2,000 at Bankwest and CBA ATMs). So if you're planning on splurging, plan ahead! 

If you happen to lose your card, the good news is you can put a temporary lock on it through the app until it turns up. But keep in mind, if you lose it for good and need a replacement, there is a $15 debit card replacement fee (free if your card is stolen). 

Who is it good for

The Bankwest Easy Transaction Account is designed for Aussies over the age of 11 who are looking for a debit card with a large ATM network in Australia. It's also ideal for those who prefer banking face to face, with fee-free withdrawal and deposits over the counter. 

Any catches

Jet-setters beware, the Easy Transaction Account is not the card for big overseas spending with a hefty $5 overseas ATM withdrawal fee and a 2.95% foreign exchange fee on top of that.