Account fee
$0.00
Payment options
Apple Pay, Google Pay, PayID, Samsung Pay
Interest rate
0% p.a.

Mozo editorial review Hiver Everyday Account - last updated: 3 September 2021

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What's hot
  • $0 monthly account fee
  • Apple Pay and Google Pay functionality
  • No fees on overseas ATM withdrawals (provider fees may apply)
  • 1% cashback on ‘essential’ purchases
What's not
  • 2.90% foreign exchange commission
  • Currently only available to essential workers
Mozo snapshot

There’s a lot to like about the new Everyday Transaction Account from digital bank Hiver. The account comes with no monthly fee, there’s plenty of payment flexibility (including digital payment options like Apple and Google Pay), and users will even be able to earn 1% cashback on their ‘essential’ purchases.

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Key features

First and foremost, the Everyday Transaction Account has been built to be used on Hiver’s smartphone app, so you’ll want to be comfortable with the idea of banking on your phone (although online banking is also available). And who is Hiver? It’s a brand new digital bank which is part of the Teachers Mutual Bank group (one of Australia's largest mutual banks). 

As we said above, there’s no monthly fee with the Everyday Transaction Account, plus there are a host of different ways users can spend their money: with the physical Hiver Visa debit card or via digital wallets like Apple Pay or Google Pay. Plus when it comes to sending money, transfers can be made near-instantly using Osko.    

Speaking of spending, Hiver is also giving its users 1% cashback (up to $50 per calendar year) on every dollar spent on ‘essential’ purchases like groceries and public transport costs. 

Still use cash every now and then? Don’t worry, you’ll still be able to use the Hiver Visa debit card to withdraw cash, plus Hiver won’t actually charge a fee for ATM withdrawals made in Australia, or anywhere in the world for that matter. Just bear in mind that many ATM providers will charge their own separate fees. 

The Hiver debit card can also be used to make in-person and online purchases abroad wherever Visa is accepted, though the bank will charge a 2.90% foreign exchange commission.

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Who is it good for

The Everyday Transaction Account could be a great pick for anyone looking for a low-cost bank account option which comes with a bunch of flexible payment options and other handy features - especially those who like managing their money on their smartphone. 

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Any catches

At the moment, Hiver Bank and the Hiver Everyday Transaction Account are only available to essential workers in the education, emergency services and health sectors, and to present students and former graduates of an Australian university.

Details

Rates and fees information correct as at 25 September 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Balances from $0: 0.00% p.a.

n/a

n/a

Fees

$0.00

n/a

Unlimited eftpos, debit, ATM, and online banking transactions.

$0.00

n/a

$0.00

n/a

n/a

$0.00

n/a

$0.00

n/a

$0.00

2.90%

$0.00 monthly

Other financial bits

$1.00

$0.00

Features

$1,000.00

no

no

yes

no

no

yes

no

Available only for essential workers in education, emergency services & health sectors plus students & graduates of an Australian university.

1% cashback on grocery store and public transport transactions, up to $50 per calendar year.

Atm card

none

none

none

Debit card

$0.00

$0.00

2.90%

Payment options

Apple Pay, Google Pay, PayID, Samsung Pay

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