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 BankWAW Youth Transact Account. The account is loaded with flexibility, including multiple digital payment options plus there are no monthly fees.
The Youth Transact account from BankWAW 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 atmx 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 BankWAW 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 $0.01: 0.01% p.a. |
|
n/a |
|
n/a |
$0.00 |
|
n/a |
|
Unlimited free transactions from own-bank ATM, EFTPOS, BPAY, OKSO/ NPP Payments, 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 Wallet, Samsung Pay
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.