If you’re a student on the hunt for a bank account that can keep up with your spending needs, then look no further than the WAW Credit Union Youth Transact Account. The account is loaded with flexibility, including multiple digital payment options plus there are no monthly fees. Best of all, it was named a 2020 Mozo Experts Choice Award winner in the best Student Bank Account category.
The Youth Transact account from WAW Credit Union is available to Australians aged 13 to 25, so it could be a good student bank account option for those in school or university, or other young Australians starting their financial journey.
Like most bank accounts the Youth Transact account doesn’t come with a monthly fee, though there are some costs that anyone travelling abroad will want to be aware of including the $3 overseas ATM withdrawal fee and the 2.75% foreign exchange commission.
Speaking of ATMs, withdrawals in Australia can be made for free using either the rediATM network or an ATM from one of the big four banks (ANZ, Commonwealth Bank, NAB or Westpac).
Account holders will be issued their own Visa Debit Card which can be used for purchases made in-person and online. The card can also be linked to an Apple Pay, Google Pay or Samsung Pay account, which means users can pay using their phones.
The lack of a monthly account fee and the digital payment options available mean that the WAW Credit Union Youth Transact Account could be a flexible account option for younger Aussies aged 13-25.
Just remember that if you do need to take the card with you on a trip overseas, the $3 overseas ATM fee and 2.75% foreign exchange margin may come into play.
Balances from $0: 0.01% p.a.
n/a
n/a
$0.00
n/a
Unlimited free transactions from own-bank ATM, EFTPOS, counter deposits, counter withdrawals and internet
$0.00
rediATM
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
n/a
$3.00
2.75%
$0.00 monthly
$0.00
$0.00
$1,000.00
yes
no
yes
yes
no
yes
none
none
none
$3.00
$0.00
2.75%
$3.00
$0.00
2.75%
Apple Pay, Google Pay, Samsung Pay
WAW credit union provides a range of financial products and services to members in the North East Victoria and Southern NSW areas. Since 1956 WAW has been providing financial products such as home loans, personal loans, savings and investment accounts, insurance and financial planning products to its customers. In addition to these financial products WAW also offers credit and debit cards to customers, whilst providing a range of products for its business banking customers.
MyState Bank
Glide Account
$0.00
Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
NAB
Classic Banking Account (with Standard Visa Debit Card)
$0.00
Apple Pay, Google Pay, PayID, Samsung Pay
0.01% p.a.
