In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other transaction accounts
  • Your reviews
  • Ask a question
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Bank Australia Everyday Access Account

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Bank Australia Everyday Access Account

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Fee Free Deposit
$2,000
Account keeping fee
$5
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$3.5

Our verdict

This account is designed for easy day-to-day spending, however there are a few fees to be aware of.

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This account does charge a monthly account keeping fee of $5 unless you meet one of the fee waiver criteria. You'll have the fee waived if you deposit at least $2,000, are aged under 25, have combined Bank Australia loans or savings worth $50,000+ or have a Bank Australia Premium Home Loan. While there are several ways to get the monthly fee waived, most banks these days don't charge a monthly account fee at all. Although, if you're planning to have your regular salary or wages deposited into the account you should be able to meet the monthly deposit condition fairly easily.

If you live outside of a major city, there may not be many Bank Australia branches near you. So keep this in mind if you’re looking for a bank account with easy branch access. However, you can make free cash withdrawals and deposits at any Australia Post store via Bank@Post.

Be aware that this account also charges overseas ATM fees and international transaction fees, which can quickly add up if you travel a lot.

Bank Australia was named Green Bank of The Year in the 2023 Finder Awards for its sustainable finance options and its commitment to avoid investment in harmful industries like fossil fuels and animal exports. So if you're looking for a more ethical banking solution, it could be a great option for you.

Pros

  • Free linked Visa Debit Card
  • Pay no withdrawal fees at 3000+ rediATMs Australia wide
  • 24/7 fraud monitoring
  • Earn some interest on your everyday funds

Cons

  • Strict requirements apply to have the monthly fee waived
  • ATMs outside the rediATM network may attract a withdrawal fee
  • No branches to visits

In this guide

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

Details

Key details

Product Name Bank Australia Everyday Access Account
Monthly account fee $5
Card access Visa
Own network ATM fee $0
International ATM Fee $3.50 + 3%
International transaction fee 3%
Monthly deposit required to waive account fee $2,000
Contactless Payments Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Eligibility

Minimum Age 18
Joint account availability Yes
Minimum opening deposit $1
Residency status Permanent Australian residents with an Australian address

Key features

$0 Monthly account keeping fees if you deposit at least $2,000

There is a $5 monthly account keeping fee charged to your account that is waived when you make external deposits of $2,000 or more. This fee is also waived for account holders under the age of 25 or those who have a combined total of at least $50,000 in loans, savings and investments with Bank Australia.

Can I still spend the $2,000 after I've deposited it?

Yes – after you've deposited the amount for the month, you can spend it and still take advantage of the waived monthly fee.

Compare other Bank Australia savings and everyday accounts here


How to apply

If you've compared your options and decided this account is right for you, you can apply online in less than 10 minutes. Make sure you meet the eligibility criteria and have the necessary documents handy.

Eligibility

  • Minimum age. Only individuals aged 18 or older are able to complete the online application.
  • Residency requirements. In order to become a member of Bank Australia and open an account with them you must be an Australian resident with a residential address in the country.

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Alison Finder

Editor

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