Fee free everyday banking: Compare bank accounts with no monthly fees

Tired of paying a monthly fee to access and manage your own money? It could be time to start saving by switching over to a low-fee or no monthly fee bank account. Make life easy for yourself by comparing a range of bank accounts from different Australian banks all in the one place with the help of our handy comparison table below.

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No monthly fee bank account comparisons on Mozo - last updated 12 August 2022

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  • Everyday Options
    account fee
    Payment Options
    interest rate
    $0.00
    Apple Pay, Google Pay, PayID
    0.01% p.a.

    An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up 9 sub-accounts.

    Compare
    Details
  • Glide Account
    account fee
    Payment Options
    interest rate
    $0.00
    Apple Pay, Google Pay, PayID, Samsung Pay, FitBit Pay, Garmin
    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.

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    Details
  • Transaction Account
    account fee
    Payment Options
    interest rate
    $0.00
    Apple Pay, Google Pay, PayID
    2.25% p.a.

    Earn 1.75% p.a. interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2022^.

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    Details
  • Go Account
    account fee
    Payment Options
    interest rate
    $0.00
    Apple Pay, Google Pay, Samsung Pay
    0% p.a.

    Welcome bonus of 5000 Virgin Money Points (ends 31/8/22. Offer criteria & T&Cs apply). Plus earn points on every debit card purchase. Bundled with a high interest savings account. $0 monthly fees. Joint accounts available.

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    Details
  • Orange Everyday
    account fee
    Payment Options
    interest rate
    $0.00
    Apple Pay, Google Pay, PayID
    0% p.a.

    Rebates on ATM fees anywhere in Oz. No ING international transaction fees. Zero monthly fees. Winner of the Mozo Experts Choice Awards 2022 for Exceptional Everyday Account.^

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    Details
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^See information about the Mozo Experts Choice Bank accounts Awards

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Bank account resources

Reviews, news, tips and guides to help find the best bank account for you.

No fee bank accounts in Australia - why it’s worth ditching paying monthly fees

If you think about it, bank accounts are the focal point of financial life for many Australians. They’re where we get paid, where we pay our bills and where we transfer money to our friends. In essence, bank accounts (or transaction accounts as they’re also known) are pretty important. 

That said, who wants to fork out unnecessary bank account fees if they don’t have to? This is especially true when it comes to account fees which generally come in at around $5-6 each month. While that might not seem like a lot, over the course of a year it works out at an additional $60-$70 - money you’d probably rather spend elsewhere.   

The good news is that there are plenty of bank accounts in Australia with zero monthly account keeping fees. In fact, roughly 77% of the transaction accounts being tracked in the Mozo database currently* don’t have any monthly account keeping fees attached.

What fees come with bank accounts?

When it comes to comparing bank accounts, there are a number of potential costs to be mindful of, including monthly account fees. These include fees which you may be charged to withdraw money, to use payment options like EFTPOS, or even when making transactions overseas. Here’s a quick run through of the common fees: 

  • Account fees: Some banks charge a regular account fee for the cost of ‘account keeping’ or the privilege of holding your money. As we said above, there are plenty of fee-free options in this respect though, and even the small number of banks which do charge monthly account fees generally have a zero fee option if certain conditions are met. 

  • Domestic ATM withdrawal fees: While increasingly rare these days, some banks still charge customers a small fee to withdraw cash from ATMs in Australia. This is a separate charge to the fees some ATM operators also charge (e.g. ATMs you may find in pubs or at outdoor events). 

  • EFTPOS fees: A small number of bank accounts come with fees for electronic and EFTPOS transactions, or a limit on the number of free transactions of this type that can be made each month.

  • Overseas ATM withdrawal fees: While most banks no longer charge withdrawal fees in Australia, it’s a different case for Aussie travellers, because the majority of bank accounts come with overseas ATM withdrawal fees. Remember, these fees are separate from those charged by ATM operators - which are not only prevalent, but expensive, in many parts of the world.  

  • Overseas purchase and transaction fees: If you’re planning to use the debit card linked to your transaction account while overseas (or when shopping on an overseas website), you’ll likely have to pay an overseas transaction fee of between 2-3%. Plus some banks also charge an additional purchase fee. 

What do these fees actually cost you ask? We’ve analysed the 100+ bank accounts in our database to reveal just how much banks typically charge on a number of common fees, and how many bank accounts actually come with each type of fee attached. 


Bank accounts with no monthly fees

There’s plenty of choice for Australians looking for a monthly fee-free bank account, including the following accounts which are available to those aged 18 and above. 

  • 86 400 - Pay Account

  • AMP Bank - Access Account

  • AMP Bank - Bett3r Spend Account

  • ANZ - Student Access Advantage

  • Australian Military Bank - Access Account

  • Australian Unity - Transaction Account

  • Auswide Bank - Instant Access Account

  • Bank First - Everyday

  • Bank of Melbourne - Complete Freedom Account

  • Bank of Queensland - Day2Day Plus Account

  • Bank of Sydney - Everyday Saver Account

  • BankSA - Complete Freedom Account

  • BankVic - Everyday Account

  • Bankwest - Easy Transaction Account

  • bcu - Access Account

  • bcu - Concession Account

  • Bendigo Bank - Student Account

  • Beyond Bank - Purple Transactor

  • BOQ Specialist - Everyday Plus Account

  • BOQ Specialist - One Account

  • Citi - Global Currency Account

  • Citi - Plus Transaction Account

  • Coastline Credit Union - Pay As You Go Account

  • Commonwealth Bank - Student Smart Access

  • Community First Credit Union - Access

  • Community First Credit Union - Student Starter

  • Credit Union SA - Access Account

  • Defence Bank - Everyday Access

  • Endeavour Mutual Bank - Transaction Account

  • Family First Credit Union - Everyday Access

  • Firefighters Mutual Bank - Everyday Direct Account

  • Gateway Bank - Edge Account

  • GMCU - My Connect Account

  • GMCU - My Everyday Account

  • Goldfields Money - Essential Account

  • Great Southern Bank - Everyday Account

  • Great Southern Bank - Everyday Snap Account

  • Greater Bank - Access Account

  • Greater Bank - Ultimate Access Account

  • Health Professionals Bank - Everyday Direct Account

  • Heritage Bank - Simply Access

  • HSBC - Day to Day Account

  • HSBC - Everyday Global Account

  • Hume Bank - All Purpose

  • Illawarra Credit Union - Everyday Student

  • IMB Bank - Everyday Account

  • IMB Bank - Everyday Unlimited Kick Start

  • ING - Orange Everyday

  • Macquarie - Platinum Transaction Account

  • Macquarie - Transaction Account

  • Macquarie Credit Union - Access Account

  • ME - Everyday Transaction Account

  • MyLife MyFinance - Access Account

  • MyState Bank - Glide Account

  • NAB - Classic Banking Account (with Standard Visa Debit Card)

  • Newcastle Permanent - Basic Access Account

  • Orange Credit Union - All Purpose Savings Account

  • Orange Credit Union - Budget Account

  • P&N Bank - & Transaction Account

  • P&N Bank - Budgeting Account

  • P&N Bank - Concession Account

  • P&N Bank - Easypay Access Account

  • P&N Bank - Student Account

  • People's Choice - Everyday Living Account

  • Police Bank - Easy Access Account

  • Police Credit Union - RediAccess Account

  • QBANK - On Call

  • Qudos Bank - General Savings Account

  • Queensland Country Bank - Learners and Earners Account

  • RACQ Bank - Everyday Account

  • RAMS - Action Account

  • Regional Australia Bank - eFree

  • St.George - Complete Freedom Account

  • Summerland Credit Union - Everyday Account

  • Suncorp - Everyday Options

  • Sydney Mutual Bank - Transaction Account

  • Teachers Mutual Bank - Everyday Direct Account

  • The Capricornian - Student Access Account

  • The Mutual Bank - Express Savings Account

  • UBank - USpend Transaction Account

  • UniBank - Everyday Direct Account

  • Unity Bank - Access Saving Account

  • Up - Everyday Account

  • Virgin Money - Go Account

  • WAW Credit Union - Youth Transact

  • Westpac - Choice (Student)

Bank accounts for travellers with no international fees

We know that Australians love to travel, but it’s safe to say that most people would rather not have their holiday budgets eaten into by bank fees. Thankfully there are a growing number of bank accounts which don’t come with overseas ATM withdrawal fees, overseas purchase fees and overseas transaction fees when paying with a debit card linked to the account. Some of these include:

  • 86 400 - Pay Account

  • Citi - Global Currency Account

  • Citi - Plus Transaction Account

  • HSBC - Everyday Global Account

  • Macquarie - Platinum Transaction Account

  • Macquarie - Transaction Account

  • Suncorp - Everyday Options

  • UBank - USpend Transaction Account

  • Up - Everyday Account

Better still, none of the transaction accounts listed above currently* have a monthly fee, nor are there any conditions which need to be met in order to activate these fee waivers. But if you’re interested in learning more about the different travel money options on offer, check out our dedicated travel debit card hub.

How can I avoid bank account fees?

According to ASICs MoneySmart, there are two important steps to take when comparing transaction accounts: work out which bank account features you need, then opt for a no-fee or low-fee account. That’s why when it comes to avoiding bank fees, one of the best strategies is simply to pick an account which doesn’t charge them. However, depending on your bank account, these other tips may prove useful: 

  • Be aware of any conditions: If you have an account which does require you to meet monthly conditions in order to get particular fees waived, then make sure you know exactly what they are so you can meet them each month. Finding it difficult to do so? It might be worth looking for a basic account with no strings attached. 

  • Withdraw cash wisely: Just because your bank doesn’t charge you an ATM withdrawal fee doesn’t mean that the actual ATM operator won’t sting you with a $2 fee for every withdrawal or balance inquiry you make. To avoid this, stick to ATMs which you know are free e.g. those within your bank's network, or ATMs from the four major banks (ANZ, Commonwealth Bank, NAB and Westpac). 

  • Keep an eye on your balance: If your account balance falls below zero then you may have to pay an overdraft fee or dishonour fee, or even interest on the outstanding balance. That’s why it’s always a good idea to regularly check your balance, and if you can, create a buffer to ensure that you’ve always got enough in your account. 

*Accurate as of 05 October, 2021. The Mozo database tracks over 100 Australian bank accounts for personal use, including accounts for kids, students and pensioners.

Picture of JP Pelosi
JP Pelosi
Managing editor

Jean-Paul (JP) Pelosi is an experienced journalist and editor who has contributed to many of Australia's leading media outlets including The Guardian, News.com.au, Domain.com.au, Investment Magazine and ANZ's Bluenotes. He has also edited news and communications for large financial services companies such as CommBank, Suncorp, Allianz and Amex. He loves a well told story and applying his editorial experience to content that readers both care about and enjoy. JP heads up our writing team.

Other frequently asked questions about fee free bank accounts 

Do kids' bank accounts charge fees? 

Many bank accounts for children and even students don’t come with monthly account fees and some of the more common bank fees. Many do come with overseas transaction fees though, so that may be something worth considering for any holidays or trips abroad. 

What are ATM fees?

There are two different types of automated teller machine (ATM) fees which customers can be charged for withdrawing cash: those charged by banks and those charged by ATM operators. Many bank accounts don’t come with fees for cash withdrawals from ATMs though, and there are a number ATMs in which you can withdraw money for free in Australia (e.g. those from the big four banks).  

Do savings accounts have fees?

The vast majority of Australian savings accounts being tracked in the Mozo database don’t come with a monthly account fee. Savers may need to meet monthly requirements or conditions in order to earn the maximum interest rate available on some accounts though. 

Should I choose a bank account with an interest rate?

Most bank accounts don’t come with an interest rate attached, and even the ones that do offer relatively low rates. So if you’re looking to earn an interest rate on your money, a better option may be to compare high interest savings accounts instead. 

Which bank accounts are best?  

Different bank accounts will suit the needs of different people depending on what they want in the way of features and fees, so there’s no single ‘right’ option. However, if you are looking for Australia’s best bank accounts then you might be interested in our Mozo Experts Choice Awards for Bank Accounts which are named by our panel of expert judges.

How can I compare bank accounts with no monthly fee?  

If you’re ready to make the switch to a bank account with no monthly account keeping fee then a great place to start is by scrolling up to the comparison table at the top of this page. Or if you’re interested in running your eyes over even more accounts, head on over to our bank account comparison table.

Bank Account Reviews

ING Orange Everyday
Overall 8/10
A Good Aussie Bank

Good features and Cashback options customer service can be not great due to the online nature and long wait times on the phone but you can utilise app chat which helps. Overall good bank!

Read full review

Good features and Cashback options customer service can be not great due to the online nature and long wait times on the phone but you can utilise app chat which helps. Overall good bank!

Price
9/10
Features
8/10
Customer service
5/10
Convenience
8/10
Trust
8/10
Less
Renee, Victoria, reviewed about 23 hours ago
Commonwealth Bank Student Smart Access
Overall 8/10
Commonwealth bank is alright.

I have been with commonwealth bank for 10 years now since i was 16. I never have had any problems, always been a pleasure to deal with to be honest. Pro - Reliable, great banking app, good customer service. Cons - none that come to mind.

Read full review

I have been with commonwealth bank for 10 years now since i was 16. I never have had any problems, always been a pleasure to deal with to be honest. Pro - Reliable, great banking app, good customer service. Cons - none that come to mind.

Features
6/10
Customer service
10/10
Convenience
10/10
Trust
7/10
Less
Bradley, New South Wales, reviewed about 23 hours ago
Up Everyday Account
Overall 10/10
I wish I had heard of UP sooner

I'm really loving UP, the flexible options and great saving tips and ideas are phenomenal. I've never been great at saving but since joining UP and utilizing their offers ( rounding up) Rainy day and Every day savings I'm finding it easier ( if not enjoyable) watching my money grow. The customer service is brilliant. I've needed to contact them a couple of times ( nothing serious) and every single time the person on the other end is awesome, so polite, extremely helpful and nothing is to much of a bother. They're really quick to respond to any query and they do so in such a way that it's really uplifting to be treated with dignity and respect. As I've said..my only regret is not hearing about UP sooner!

Read full review

I'm really loving UP, the flexible options and great saving tips and ideas are phenomenal. I've never been great at saving but since joining UP and utilizing their offers ( rounding up) Rainy day and Every day savings I'm finding it easier ( if not enjoyable) watching my money grow. The customer service is brilliant. I've needed to contact them a couple of times ( nothing serious) and every single time the person on the other end is awesome, so polite, extremely helpful and nothing is to much of a bother. They're really quick to respond to any query and they do so in such a way that it's really uplifting to be treated with dignity and respect. As I've said..my only regret is not hearing about UP sooner!

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ange, Victoria, reviewed about 23 hours ago

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