Compare Zero monthly fee Transaction & Bank Accounts - Best Find
Important disclosure

Compare Zero Monthly Fee Transaction & Bank Accounts

This all-in-one account gives you the flexibility to conduct your day-to-day banking whenever and however you want. It’s completely free of transaction fees* and there are no monthly fees.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amountYes

Number of free transactionsUnlimited

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl fee$0.00

Overdrawn fee$5.00

Overseas ATM withdrawl fee$0.00

Currency conversion fee2 - 3% of the AUD transaction amount

GO TO Credit Union SA

Earn Interest

Annual interest rate0.00%

Interest calculated N/A

Interest paid N/A

GO TO Credit Union SA

Miscellaneous

Base rebateN/A

Online application Yes

Minimum age All members

Residency requirementsPermanent or Australian resident

GO TO Credit Union SA

Features

Card typeVisa Debit

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessYes

Fraud protectionYes

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access Yes

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO Credit Union SA

Other

Sponsored No

Data accurate as of23/05/2018

GO TO Credit Union SA

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Statement Savings Account

Arab Bank
$0.00
$0.00
1.80%

View fees & additional info +

Enjoy fee-free access to your cash when you transact over the counter in store, via online or phone banking, or through our extensive network of Bankwest and CommBank ATMs.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactions12

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl feeNone

Overdrawn feeTBA

Overseas ATM withdrawl feeTBA

Currency conversion feeTBA

GO TO Arab Bank

Earn Interest

Annual interest rate1.80%

Interest calculated Daily

Interest paid Monthly

GO TO Arab Bank

Miscellaneous

Base rebateTBA

Online application Yes

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO Arab Bank

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessNo

Fraud protectionN/A

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityNo

Cheque facility No

Joint access TBA

Pay using Apple PayNo

Pay using Android PayNo

BPAY Yes

GO TO Arab Bank

Other

Sponsored No

Data accurate as of26/3/2017

GO TO Arab Bank

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An everyday account with a wide range of access options.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.50

Number of free transactions6

ATM withdrawl fee$0.50

EFTPOS transaction fee$1.50

Branch withdrawl feeNone

Overdrawn feeTBA

Overseas ATM withdrawl fee$4.10

Currency conversion feeTBA

GO TO Defence Bank

Earn Interest

Annual interest rate0.01%

Interest calculated Daily

Interest paid Monthly

GO TO Defence Bank

Miscellaneous

Base rebateTBA

Online application Yes

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO Defence Bank

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessNo

Fraud protectionN/A

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityNo

Cheque facility Yes

Joint access TBA

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO Defence Bank

Other

Sponsored No

Data accurate as of29/3/2017

GO TO Defence Bank

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Premium Cash Management Account

ANZ
$0.00
$0.00
0.25%

View fees & additional info +

An all-in-one package that offers you the convenience of a transaction account for your everyday banking, and a savings account with a competitive interest rate.needs.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactions5

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl fee$1.25

Overdrawn fee$0.00

Overseas ATM withdrawl fee3% of value of withdrawal purchase

Currency conversion feeTBA

GO TO ANZ

Earn Interest

Annual interest rate0.25%

Interest calculated Daily

Interest paid Monthly

GO TO ANZ

Miscellaneous

Base rebateTBA

Online application No

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO ANZ

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessNo

Unlimited branch accessNo

Fraud protectionN/A

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access TBA

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO ANZ

Other

Sponsored Yes

Data accurate as of26/3/2017

GO TO ANZ

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Everyday Saver

MOVE- People Driven Banking
$0.00
$0.00
0.01%

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The Everyday Saver features the option of a Visa Debit card, giving you more options when making payments and giving you access to your funds wherever Visa is accepted, both in Australia and overseas.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactions2

ATM withdrawl fee$1.25

EFTPOS transaction fee$0.75

Branch withdrawl feeN/A

Overdrawn fee$10.00

Overseas ATM withdrawl fee$5.00

Currency conversion fee$0.02

GO TO MOVE- People Driven Banking

Earn Interest

Annual interest rate0.01%

Interest calculated Daily

Interest paid Monthly

GO TO MOVE- People Driven Banking

Miscellaneous

Base rebaten/a

Online application Yes

Minimum age n/a

Residency requirementsPermanent or Australian resident

GO TO MOVE- People Driven Banking

Features

Card typeVisa Debit

Contactless paymentYes

ATM access Yes

Unlimited ATM accessNo

Unlimited branch accessNo

Fraud protectionYes

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access Yes

Pay using Apple PayNo

Pay using Android PayNo

BPAY Yes

GO TO MOVE- People Driven Banking

Other

Sponsored No

Data accurate as of5/02/2017

GO TO MOVE- People Driven Banking

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Everyday Access

Auswide Bank
$0.00
$0.00
0.00%

View fees & additional info +

a quick, secure and easy way of receiving your statements. Customers who opt to receive a paper statement from this date may be charged. Existing accounts will be progressively switched to eStatements from this date

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactionsUnlimited

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl feeNone

Overdrawn feeTBA

Overseas ATM withdrawl feeNo

Currency conversion feeNo

GO TO Auswide Bank

Earn Interest

Annual interest rate0.00%

Interest calculated None

Interest paid None

GO TO Auswide Bank

Miscellaneous

Base rebateTBA

Online application Yes

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO Auswide Bank

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessYes

Fraud protectionN/A

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access Yes

Pay using Apple PayNo

Pay using Android PayNo

BPAY Yes

GO TO Auswide Bank

Other

Sponsored No

Data accurate as of27/3/2017

GO TO Auswide Bank

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ANZ Pensioner Access Advantage

ANZ
$0.00
$0.00
2.00%

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The Lite Direct Account is ideal for customers who don't transact in store but are rather online savvy. Save some cash with a low monthly fee

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactionsUnlimited

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl fee$1.25

Overdrawn fee$0.00

Overseas ATM withdrawl fee3% of value of withdrawal purchase

Currency conversion feeTBA

GO TO ANZ

Earn Interest

Annual interest rate2.00%

Interest calculated Daily

Interest paid Monthly

GO TO ANZ

Miscellaneous

Base rebateTBA

Online application No

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO ANZ

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessNo

Unlimited branch accessNo

Fraud protectionN/A

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access TBA

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO ANZ

Other

Sponsored No

Data accurate as of26/3/2017

GO TO ANZ

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Access Advantage

ANZ
$0.00
$0.00
0.02%

View fees & additional info +

Access your money, your way, with no monthly account fees!needs.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactionsUnlimited

ATM withdrawl fee$0.00

EFTPOS transaction fee$0.00

Branch withdrawl fee$1.25

Overdrawn fee$0.00

Overseas ATM withdrawl fee3% of value of withdrawal purchase

Currency conversion feeTBA

GO TO ANZ

Earn Interest

Annual interest rate0.02%

Interest calculated Daily

Interest paid Monthly

GO TO ANZ

Miscellaneous

Base rebateTBA

Online application No

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO ANZ

Features

Card typeTBA

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessYes

Fraud protectionYes

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access TBA

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO ANZ

Other

Sponsored No

Data accurate as of26/3/2017

GO TO ANZ

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Access Account

Community First Credit Union
$0.00
$0.00
0.15%

View fees & additional info +

Our Everyday access account gives you the flexibility you need for all of your day-to-day financial transactions with the one convenient account.

Fees and Charges

Monthly account fees$0.00

Fee free deposit amount$0.00

Number of free transactionsn/a

ATM withdrawl fee$1.50

EFTPOS transaction fee$1.10

Branch withdrawl feeNone

Overdrawn fee$10

Overseas ATM withdrawl fee$5

Currency conversion fee3%

GO TO Community First Credit Union

Earn Interest

Annual interest rate0.15%

Interest calculated Daily

Interest paid Tri-annually

GO TO Community First Credit Union

Miscellaneous

Base rebateNone

Online application Yes

Minimum age 18

Residency requirementsPermanent or Australian resident

GO TO Community First Credit Union

Features

Card typeVisa Debit

Contactless paymentYes

ATM access Yes

Unlimited ATM accessYes

Unlimited branch accessYes

Fraud protectionYes

EFTPOS facility Yes

Internet bankingYes

Phone bankingYes

Overdraft facilityYes

Cheque facility Yes

Joint access Yes

Pay using Apple PayYes

Pay using Android PayYes

BPAY Yes

GO TO Community First Credit Union

Other

Sponsored No

Data accurate as of22/12/2017

GO TO Community First Credit Union

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Tips for comparing zero monthly fee transaction & bank account

A bank account is an account through a financial institution where you can deposit income and withdraw money in a variety of ways. The best bank account for you is the account that helps you manage your finances without unnecessary fees and access your money when you need it.

You will need a bank account to access the following types of services:

  • Debit card
  • Electronic or online payments
  • Google Wallet, Samsung Pay, or Apple Pay.
  • ATMs
  • Direct debit
  • BPAY
  • Cheques

What are key features to compare between zero monthly fee transaction & bank account?

Not all zero monthly fee transaction & bank account are made equal. Depending on your lifestyle, some banks and credit unions might offer features that best fit your needs.

  • Linked to your savings account. If you open a bank account with the same bank as your savings account, you can easily transfer and access money between the two accounts.
  • Monthly fees. There any many zero monthly fee transaction & bank account with $0 monthly fees, however, this usually comes at cost such as limited branch access, limited fee-free transactions, etc
  • Other fees. Banks can also charge fees for a range of reasons
  • Overseas transaction fee. If you’re a frequent traveller, you may wish to avoid banks that charge high conversion fees for using your debit card overseas
  • ATM fees. Banks will usually waive ATM fees from their network of ATMs
  • EFTPOS transaction fee. Some banks will charge for EFTPOS payments over a specified threshold
  • Branch assistance fee. Prefer that personal service? Be aware that some banks will charge for in-person assistance at their branch. Mobile banking is a good option for avoiding these fees
  • Excess transaction fee. If you’re a frequent spender, accounts with a limit on the number of transactions you can make a month could charge you fees. If you’re a regular spender or need regular access to branches, you may wish to look into accounts for high frequency users or conversely accounts for infrequent users
  • Account overdrawn fee. If you overspend the money on your account, you could be charged a fee
  • While not technically fees, using services like payWave or PayPass for charges under $100 often have surcharges associated with them. To avoid these, insert the card and choose the ‘Savings’ or ‘Cheque’ option instead during payment
  • High interest rate. Some zero monthly fee transaction & bank account will offer a higher interest rate so you can earn interest on the money deposited in your account, but look out for honeymoon rates that are too good to be true and revert to a base rate after a few months
  • Mobile banking. If you want to manage your money online instead of heading to a branch location, financial institutions that offer mobile banking are a desirable choice
  • High density of ATMs. A financial institution might be the right fit for you in every other way, but if you’re constantly heading out of your way to access your money, it might not be a good fit
  • Easy overseas accessibility. Some financial institutions are global, which can make accessing your money overseas easy
  • Good customer service. If something goes wrong and your money is on the line, you want to know that your bank will handle the situation quickly and responsively
  • Senior banking. If you’re over 55, you can enjoy unlimited access to ATM withdrawals, internet and phone banking, reduced or waived fees, and more
  • Kids / Students / Youth. Some financial institutions offer zero monthly fee transaction & bank account specifically for students and young adults
  • Foreigners /457 visa holders. Not all zero monthly fee transaction & bank account are accessible to visitors who may be staying in Australia temporarily

What else should I consider when comparing zero monthly fee transaction & bank account?

When choosing a bank account, many factors come into play including spending style, location, future financial goals, comfort with technology, and general preference.

You should consider how you like to deposit, spend, and save money. You should consider whether there’s a branch location near where you live as well as ATMs in your area for easy access. Ask yourself whether you’re comfortable banking online or if you’d prefer to do your business in person at a branch location. Finally, consider your goals and where your wish to be in your financial life in the future. Choosing a bank that offers good mortgages, savings accounts, and other financial products in anticipation of the future can be an effective way to create a strong relationship with your bank.