Adelaide Bank MyEveryday Account

Enjoy the flexibility of easy access to your funds and a Visa debit card with this everyday transaction account.

Minimal fees and the ability to easily access your funds are two important requirements of any transaction account, and they’re two of the reasons why the Adelaide Bank MyEveryday Account is worth a closer look. Featuring a Visa Debit card, the MyEveryday Account provides a wide range of fee-free access options that allow you to spend your money whenever you want.

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Alison Banney

Last Updated Dec 30, 2020

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

Overseas transaction fee

of transaction value

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Details

Product Name	Adelaide Bank MyEveryday Account
Monthly account fee	$0
Card access	Visa
ATM Withdrawal Fee	$0
International ATM Fee	$4 + 2%
International transaction fee	2%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Google Pay, Apple Pay

Minimum Age	18
Joint account availability	No
Minimum opening deposit	$1

Pros

$1 minimum opening balance
$0 account keeping fees
Online banking is available

Cons

$4 Overseas ATM Withdrawal Fee

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This everyday transaction account has no monthly account keeping fees and no minimum balance requirement to meet. There are no fees for EFTPOS, BPAY or electronic transactions in Australia, and you can make free withdrawals at Big Four ATMs as well as Adelaide and Bendigo Bank ATMs.

Adelaide Bank will charge you a $4 withdrawal fee at overseas ATMs, and a 2% international transaction fee on overseas purchases. While this is a bit less than the standard 3% fee that a lot of banks charge, there are several bank accounts that don’t charge this fee at all.

Adelaide Bank is part of the Bendigo Bank network, so you can make cash withdrawals and deposit cheques at Bendigo branches as well as Adelaide Bank branches.

Key features

Visa Debit card

The Adelaide Bank MyEveryday Account features a free Visa Debit card, providing convenient access to your funds anywhere that Visa is accepted around the world.

Fee-free transactions

You can make a wide range of everyday transactions on this at-call account without incurring any fees. Fee-free transaction options include: ATM withdrawals, transfers and balance enquiries from any ATM in the Bendigo Bank network; cash deposits at any Bendigo Bank branch; BPAY/AnyPay; online banking transfers; telephone banking transfers; regular payment plans and more.

Minimum opening balance of $1

A minimum balance of just $1 is required to open an Adelaide Bank MyEveryday Account.

Minimum operating balance of $1

You will only need to maintain a minimum balance of $1 in your account to ensure that it stays open. The bank reserves the right to close your account if you do not meet this requirement. No maximum account balance limit applies.

No administration fees

There are no monthly or annual account-keeping fees attached to the Adelaide Bank MyEveryday Account.

Monthly statements

Account statements are issued monthly, but you can monitor your transaction history at any time via Internet banking.

Fees for other services

Some other transactions on this account will incur a small fee, for example making a Bank@Post withdrawal or deposit or making a branch withdrawal or transfer. A full schedule of transaction fees is available from Adelaide Bank.

Available for

The following individuals and entities are eligible to open an Adelaide Bank MyEveryday Account: individuals, companies, partnerships, trusts and super funds.

Compare other Adelaide Bank products

How to apply

If the Adelaide Bank MyEveryday Account sounds like it could be the perfect transaction account for your needs, click on one of the "Apply Now" links on this page to be taken to the Adelaide Bank website. There you can find more information about the account and contact the bank for an application form.

Eligibility

Minimum age. You must be at least 18 years of age to open an account.
Residency requirements. You'll need to be an Australian resident to apply; applications from outside Australia will not be accepted.

Depository requirements. A minimum opening deposit of $1 is required to open an Adelaide Bank MyEveryday Account. You will also need to maintain a balance of at least $1 in your account at all times.

Documentation needed

If you're a new customer, you'll also need to provide valid proof of ID (for example, a current driver's licence or passport) when you apply to open an account.

What happens after I submit my application?

Once your application has been submitted and approved, you'll be sent your linked Visa debit card so that you can quickly and easily access your funds anywhere that Visa is accepted.

The Adelaide Bank MyEveryday Account combines a range of flexible access options with minimal fees to make it easy to manage your finances from one day to the next. However, before deciding whether it's the right transaction account for you, compare it with a range of other everyday accounts featured at finder.com.au.

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