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$0.00
Apple Pay, Google Wallet, PayID, PayTo
0% p.a.
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
Read reviews and learn more about ING bank accounts
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$0.00
Apple Pay, Google Wallet, PayID
0.01% p.a.
Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
Read reviews and learn more about Suncorp bank accounts
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$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin Pay
0% p.a.
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
Read reviews and learn more about MyState Bank bank accounts
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$0.00
Apple Pay, Google Wallet
0% p.a.
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
Read reviews and learn more about HSBC bank accounts
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While many providers offer fee-free bank accounts, there are still some accounts that require holders to pay certain fees.
Some of these bank account fees can include:
Monthly account keeping fees
Transaction fees for ATM withdrawals, EFTPOS purchases, or branch visits
Overdraft fees if you exceed your account balance
Foreign transaction fees for overseas purchases or ATM withdrawals.
While these fees might seem small individually, they can add up significantly over time, potentially costing you hundreds of dollars per year. That’s where no fee bank accounts come in, letting you side step some common fees.
Opting for a fee-free bank account can offer several advantages. The most obvious benefit is the money you'll save on various banking fees. Over time, these savings can be substantial, which can lead to some extra cash for your savings account or term deposit.
Simplicity is another key advantage. With no fees to keep track of, banking and budgeting becomes more straightforward. You won't need to worry about keeping cash aside each month for account keeping or for extra fees on withdrawals.
Many fee-free accounts don't restrict the number of transactions you can make too, giving you more flexibility in how you manage your money. This increased banking freedom can be particularly beneficial for those who frequently use their accounts for various transactions.
When comparing fee-free bank accounts, it's important to look beyond just the lack of fees.
Consider factors such as:
Branch access and accessibility of ATMs
Online and mobile banking features
Customer service quality and availability
Additional perks or rewards programs.
By carefully evaluating these aspects, you can find a fee-free account that not only saves you money but also meets all your banking needs.
Fee-free bank accounts are offered by a variety of financial institutions in Australia, including:
Online banks: Many digital-only banks offer fee-free accounts as part of their low-cost business model. These banks often provide competitive interest rates and user-friendly mobile apps.
Traditional banks: In response to competition from online banks, many established banks now offer fee-free options, especially for younger customers or those willing to meet certain conditions.
Credit unions and customer owned banks: These member-owned providers also may offer fee-free accounts as part of serving its members' interests.
To find the best fee-free bank account for your needs, comparing options from multiple providers can help. Look at the overall features the account offers, including any requirements to maintain the fee-free status, such as minimum deposits or regular transactions.
Remember, while an account may be advertised as "fee-free," it's important to read the fine print. Some accounts may waive the monthly fee but still charge for certain transactions or services. Always review the product disclosure statement carefully before opening an account.
Take the time to compare your bank account options in the tables above. You may also want to consider pairing your fee-free account with a savings account or term deposit which you can compare on our hub page.
While many accounts are truly fee-free with no conditions, some may require you to meet certain criteria to avoid fees. This may include making a minimum number of deposits each month, maintaining a minimum balance, or being under a certain age. Make sure to check the terms and conditions to understand any requirements.
In most cases, yes. Fee-free accounts typically offer standard features like EFTPOS access, online and mobile banking, and the ability to set up direct debits and credits. However, some may have limitations on certain services, so it's important to check that the account meets all your banking needs.
Yes, you can use ATMs with a fee-free bank account. However, to avoid fees, you may need to stick to your bank's ATM network or those of partner institutions.
Fee-free accounts are usually offered by online bank accounts. Lower overhead costs allow these banks to pass savings on to customers in the form of no fees and sometimes higher interest rates. However, many traditional banks now also offer competitive fee-free options to retain customers.
They have always been reliable, helpful, caring, willing to lend a hand and a listen. No question is a problem for them. Always available to chat as well when you need to get in contact with them.
Read full reviewThey have always been reliable, helpful, caring, willing to lend a hand and a listen. No question is a problem for them. Always available to chat as well when you need to get in contact with them.
Interest Rate is amazing for people under 35.
Read full reviewInterest Rate is amazing for people under 35.
Been with them for years, had a personal loan they’ve always been helpful
Read full reviewBeen with them for years, had a personal loan they’ve always been helpful
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