In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

Arab Bank Statement Account

  • Avatar
Arab Bank Statement Account

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

Compare other options
Account keeping fee
$6
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$5
Overseas transaction fee of transaction value
2.5%

Our verdict

Take advantage of multiple access points and competitive interest from a Statement Account with Arab Bank Australia.

This everyday transaction account could be suited to you if you’ve got another product with Arab Bank, for example a loan or a term deposit, so you can see all your finances in one place.

However if you’re simply looking for a convenient everyday account, this account does charge more fees than most others in the market. There’s a $6 monthly account keeping fee which can’t be waived. There’s also a limit of only 12 free transactions a month (maximum of two branch transactions and 10 EFTPOS transactions). The large majority of everyday accounts in the market offer unlimited free electronic transactions.

Arab Bank is part of a large Arab banking network with more than 600 branches worldwide, which is convenient if you travel a lot and regularly visit a branch.

Pros

  • Access via ATM and EFTPOS, Internet and counter service
  • Unlimited ATM transactions at Westpac, St.George, Bank of Melbourne and BankSA ATMs

Cons

  • Up to 12 free transactions per month

In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

The Arab Bank of Australia’s Statement Account is an interest earning savings product with the accessibility of a transaction account. Make purchases and withdrawals using a linked Visa debit card and see all of the activity through an online banking portal. Your deposits of up to $250,000 are always protected through the Australian Government Financial Claims Scheme when you choose Arab Bank Australia to bank with.

Details

Key details

Product Name Arab Bank Statement Account
Monthly account fee $6
Card access Visa
Own network ATM fee $0
International ATM Fee $5
International transaction fee 2.5%
Monthly deposit required to waive account fee N/A
Contactless Payments Apple Pay, Google Pay

Eligibility

Minimum Age 18
Joint account availability Yes
Minimum opening deposit $1

Key features

$6 Monthly account keeping fee

You will be charged $6 monthly for this account. That fee is waived for individuals who are in receipt of a government pension.

Up to 12 fee-free transactions p/m

You are permitted up to 12 fee-free transactions per month; two of which may be made over the counter and ten using EFTPOS. Once you exceed that limit you will be charged $2 for each branch transaction and $0.60 for EFTPOS purchases. Other transactions such as ATM withdrawals and online transfers are always free of charge.


How to apply

Arab Bank Australia offers you three different options for opening the Statement Account. You can download an application form and mail it to their branch office or apply online.

Eligibility

Certain requirements must first be met before you are able to open a Statement Account:

  • Minimum age. All applicants must be at least 18 years of age in order to qualify for opening the Statement Account.
  • Residency requirements. This account is available for Australian residents and citizens.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site