Key features:
Nobody likes paying fees for a bank account, which is why the Newcastle Permanent Basic Access Account will leave you smiling with its simplicity and low cost. You won’t pay a cent in account fees or for internet and phone banking, but the flip side is that like many transaction accounts it doesn’t come with an interest rate.
With four free withdrawals per month using EFTPOS or over the counter withdrawals you’ll be able to keep account costs down even more. There is also a standard $0.60 EFTPOS fee and $2.50 over the counter withdrawal fee.
The Newcastle Permanent Basic Access Account comes with a Visa debit card which features tap and go capability using Visa payWave as well as access to Visas worldwide network of ATMs. Just keep in mind that if you’re travelling abroad you’ll incur a $5.00 overseas ATM fee, while there’s also a 3.00% foreign exchange commission.
Who it's good for:
Consumers looking for a straightforward, low-fee bank account will love the Newcastle Permanent Basic Access Account, especially if they’re able to make use of the four free monthly transactions on offer.
Any catches?
Like many other transaction accounts you won’t earn any interest with the Basic Access Account, so you’ll be better off finding a high interest savings account as the best place to stash the bulk of your cash.
