Compare Student Debit Cards

Information verified correct on June 28th, 2016

A student debit card is best for those everyday purchases to avoid going beyond your means and losing track of your spending.

This is because a debit card only draws money from your bank account, so you cannot spend more than you actually have. Although, a student credit card can be good for helping to establish a credit history, the obvious proviso is that you do not abuse any overdraft facility on your student debit card, or you will be hit by bank fees. The other main benefit is that you will not have to carry too much cash around with you, which cuts the risk and consequences of theft or loss.

NAB Classic Banking

Student debit card offer

Enjoy $0 monthly account fees on the NAB Classic banking account.

  • Free use at over 3,400 NAB and RediATMs in Australia
  • 24/7 Mobile Banking, including Quick Balance checker
  • Tap and Pay for Android
  • Free linked NAB Visa debit card with payWave
    Rates last updated June 28th, 2016
    $
    Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
    NAB Classic Banking
    Tap and Pay with your Android Phone using NAB Pay.
    No minimum deposit required.
    Visa $0 $0 No monthly account fees, ever. Free use at over 3,400 NAB and RediATMs Australia wide and $0 overdrawn fees. Open More
    ING DIRECT Orange Everyday Account
    $75 bonus and get up to 2% cash back on Visa payWave purchases.
    Get a competitive ongoing variable rate when linked with a Savings Maximiser.
    Visa $0 $0 No monthly fees, and you can use any ATM in Australia for free when you deposit $1,000 each month e.g your salary. Open More
    ANZ Access Advantage
    Apple Pay now available.
    Unlimited transactions at ANZ ATMs, EFTPOS, Internet, Mobile and Phone Banking.
    Visa $0 $2,000 No monthly account fee when you deposit at least $2,000 per month. Other fee waivers available based on your personal situation. Open More
    HSBC Day to Day Transaction Account
    Your Visa debit card unlocks special privileges worldwide with the HSBC home&Away Privilege Program.
    Visa $0 $0 $0 monthly fees. No ATM fees at over 3,000 HSBC, Westpac, St.George, Bank of Melbourne and BankSA ATMs. Open More
    Bankwest Student Account
    Get discounts from a range of brands like McDonalds, Hoyts and City Beach.
    Mastercard $0 $0 $0 ATM fees at over 4,000 Bankwest and CommBank ATMs, $0 monthly fees. More
    St.George Complete Freedom Student Account
    A student bank account with a linked Visa debit card and Mobile + Phone banking.
    Visa $0 $0 No monthly account fees and free withdrawals from St.George, BoM, BankSA and Westpac ATMs. More
    Bendigo Bank Student Account
    Available to full time students, apprentices and trainees over 12 years.
    Mastercard $0 $0 No monthly account service fee, unlimited e-banking transfer, BPAY and Pay Anyone. More
    Community First Student Starter Account
    Designed for students aged 17-24 and studying their first degree or traineeship full-time.
    Visa $0 $0 No monthly fee, fee-free banking with access to the RediATM network. More
    Bank of Sydney Student Transaction Account
    A flexible, student bank account with a linked Visa debit card.
    Visa $0 $0 No monthly account fee with free, unlimited ATM withdrawals from RediATM network. More
    Bank of Sydney Student Savings Account
    Available for students under 18 years of age and want to earn interest on their transaction account.
    Visa $0 $0 Free, unlimited ATM withdrawals from any RediATM. More
    Bank of Melbourne Complete Freedom Student
    Get a linked Visa debit card and $0 monthly fee for under 18's.
    Visa $0 $0 A low cost transaction account for students – no ATM withdrawal fees at Bank of Melbourne, BankSA, St.George and Westpac ATMs in Australia. More
    Westpac Choice Student
    An everyday account for full-time tertiary students.
    Mastercard $0 $2,000 No monthly service fee whilst you are a full time tertiary student More
    BankSA Complete Freedom Student Account
    An everyday banking account for students with a linked Visa debit card and $0 monthly account service fee.
    Visa $0 $0 No ATM withdrawal fee at over 3,000 BankSA, Bank of Melbourne, St.George & Westpac ATMs around Australia. More
    Police and Nurses Student Account
    A bank account for secondary and tertiary students aged between 16-25 years old.
    Visa $0 $0 Unlimited + free transactions via rediATM, NAB and BOQ ATMs. More
    Rates last updated June 28th, 2016
    $
    $
    months
    Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
    ME Online Savings Account
    Ongoing, variable 3.35% p.a. variable rate when you link to a ME Everyday Transaction account and make a weekly purchase with your Debit MasterCard using tap & go. Available on balances up to $250,000.
    3.35% 1.55% 1.80% $0 $0 / $0 Open More
    Citibank Online Saver
    Introductory rate of 3.40% p.a. for 4 months, reverting to a rate of 2.00% p.a. Available on balances below $500,000.
    3.40% 2.00% 1.40% $0 $0 / $0 Open More
    ING DIRECT Savings Maximiser
    Ongoing, variable 3.00% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month. Available on balances up to $100,000.
    3.00% 2.00% 1.00% $0 $0 / $0 Open More
    Bankwest TeleNet Saver
    Introductory rate of 3.25% p.a. for 4 months, reverting to a rate of 1.75% p.a. Available up to $5,000,000.
    3.25% 1.75% 1.50% $0 $0 / $1 Open More
    Bankwest Hero Saver
    Ongoing, variable 2.90% p.a. rate when you deposit at least $200 p/m with no withdrawals. Available on balances up to $250,000.
    2.90% 0.01% 2.89% $0 $0 / $0 Open More
    RaboDirect High Interest Savings Account
    Introductory rate of 3.25% p.a. for 4 months, reverting to 2.30% p.a. Available on balances up to $250,000.
    3.25% 2.30% 0.95% $0 $0 / $0 Open More
    Bank of Queensland WebSavings Account
    Introductory rate of 3.00% p.a. for 4 months, reverting to 1.80% p.a. Available on balances up to $5,000,000 (subject to approval).
    3.00% 1.80% 1.20% $0 $2,000 / $1 Open More
    ANZ Online Saver
    Introductory rate of 2.96% p.a. for 3 months, reverting to 1.55% p.a. Available on the entire balance.
    2.96% 1.55% 1.41% $0 $0 / $0 Open More
    HSBC Serious Saver
    Introductory rate of 2.50% p.a. for 4 months, reverting to 1.85% p.a. Available on balances up to $1,000,000.
    2.50% 1.85% 0.65% $0 $0 / $0 Open More
    Westpac eSaver
    Introductory rate of 2.95% p.a. for 5 months, reverting to 1.50% p.a. Available on the entire balance.
    2.95% 1.50% 1.45% $0 $0 / $0 Open More
    Bank of Queensland Bonus Interest Savings Account
    Ongoing, variable 2.75% p.a. when you only withdraw once per month. Available on the entire balance.
    2.75% 1.00% 1.75% $0 $0 / $1 Open More
    ANZ Progress Saver
    Ongoing, variable 2.26% p.a when you deposit at least $10 and make no withdrawals. Available on the entire balance.
    2.26% 0.01% 2.25% $0 $10 / $10 Open More
    St.George Maxi Saver
    Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
    3.20% 1.25% 1.95% $0 $1 / $1 Open More
    BankSA Maxi Saver
    Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
    3.20% 1.25% 1.95% $0 $1 / $0 Open More
    Bank of Melbourne Maxi Saver
    Introductory rate of 3.20% p.a. for 3 months, reverting to 1.25% p.a. Available on the entire balance.
    3.20% 1.25% 1.95% $0 $0 / $1 Open More
    BankSA Incentive Saver Account
    Ongoing, variable 2.10% p.a when you make at least one deposit and no withdrawals. Available on the entire balance.
    2.10% 0.01% 2.09% $0 $0 / $1 Open More
    Bank of Melbourne Incentive Saver
    Ongoing, variable 2.10% p.a when you make at least one deposit and no withdrawals. Available on the entire balance.
    2.10% 0.01% 2.09% $0 $0 / $1 Open More
    HSBC Flexi Saver Account
    Ongoing, variable 2.25% p.a when you make a minimum monthly deposit of $300. Available on balances up to $5,000,000.
    2.25% 1.75% 0.50% $0 $0 / $0 Open More
    Westpac Reward Saver
    Ongoing, variable 2.10% p.a when you deposit at least $50 and make no withdrawals. Available on the entire balance.
    2.10% 0.01% 2.09% $0 $0 / $0 Open More

    What is a student debit card?

    Providing you with electronic and branch access to your bank account, a student debit card is popular among university and high school students who have not yet established their credit history. An application for a student debit card is convenient and easy as there is no credit history generally required for approval. You only spend the money you have stored in your credit card, and some student debit cards can be used to shop online.

    How does a student debit card work?

    A student debit card draws funds from your own money in the bank every time you use it. You can swipe it for payment in shops, restaurants, online transactions, link it to your PayPal account, or withdraw money directly from ATM machines.

    How do I compare debit cards for students?

    When planning to apply for a student debit card, make sure to find the bank that gives you the most benefits. Be mindful that most transaction accounts that are linked to your student debit card usually earn minimum interest.

    • MasterCard or Visa. The two main players in the student debit card space in Australia is MasterCard or Visa. Both have a global ATM network, use the latest in chip and data encryption technology and offer purchase protection if you meet the terms and conditions
    • No monthly or ongoing fees. Spend time to know what they have in store for a student depositor like you. Find out if there are card maintenance fees. Some banks usually waive monthly service fees for full time students.
    • Easy accessibility. Choose one that offers unlimited transactions and ATM withdrawals for free, and one that has an extensive ATM network. Most banks have partnered with other banking institutions that allow ATM withdrawals for free. You may also want to opt for a bank that allows 24/7 online access through their banking portal.
    • Mobile and internet bankingAs mobile banking nowadays makes day-to-day transactions faster and more convenient, it is wiser to check the bank's mobile app as well and make sure it works on your Android phone, tablet or iOS device.
    • Special student offers. Promotional offers like discounts at shops may also be included in some student debit cards so it's great to take a look as to which debit card gives you the best value for advantage in terms of charges, security and incentives. Don't forget to carefully review your cardholder agreement.
    • PayPass or PayWave. You can shop faster using PayPass or PayWave technology, which allows you to just tap and go for purchases under $100.

    What are the benefits of student debit cards?

    • Fast and easy application without the need of a credit history as you're using your own money.
    • Gives you protection against overspending as you only spend your money that is in your bank account.
    • Most student debit cards have secure chip technology and utilise NFC so you shop faster by tapping and go for your purchases under $100.
    • Works similar to a credit card as you have access to most Visa and MasterCard merchants, locations and ATMs.
    • Debit cards are generally protected with a PIN and Zero Liability Protection.
    Things to avoid about student debit cards
    • Fees are the one thing that you must try and avoid with student debit cards. These can include service fees charged per month, ATM withdrawal fees, transaction fees and dishonour fees.

    Frequently asked questions

    • How do I apply for a student debit card? After you've looked at your options and decided the student debit card that is best for your needs, you can apply online or through a branch.
    • How long will it take for me to wait for a student debit card application? This depends on the financial institution - generally you can have your card within five working days of lodging the application.
    • Will the bank conduct credit checks upon application for a student debit card? Since a student debit card is tied up with your bank account, it is not subject to credit checks.
    • Can I still use my student debit card overseas? You can use your student debit card and withdraw money from ATMs when you travel internationally but you may be charged with currency conversion and international ATM withdrawal fees. You may want to opt for an alternative travel money option instead.

    Shirley Liu

    Shirley is finder.com.au's publisher for banking and investments. She is currently studying a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

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    Savings Account Offers

    Learn about our information service
    ME Online Savings Account

    Maximum Variable Rate

    3.35%

    Standard Variable Rate

    1.55
    Citibank Online Saver

    Maximum Variable Rate

    3.40%

    Standard Variable Rate

    2.00
    ING DIRECT Savings Maximiser

    Maximum Variable Rate

    3.00%

    Standard Variable Rate

    2.00
    Bankwest Hero Saver

    Maximum Variable Rate

    2.90%

    Standard Variable Rate

    0.01

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