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Our verdict

Earn interest and take care of your everyday spending from one convenient account with Border Bank.

This account rewards you with reduced fees each month you maintain a balance of $5,000 or more across your Border Bank accounts. The incentive is called the Reduced Fees Program. For example, you can make up to 25 free ETFPOS transactions a month for free, and after this there’s a small fee for each additional EFTPOS transaction. However, if you maintain a balance of $5000 or more you can make unlimited free EFTPOS transactions and ATM withdrawals in Australia.

However, if you’re using the card overseas, there’s a $3.80 ATM withdraw fee and a 3% international transaction fee, which aren’t waived as part of the Reduced Fees Program.

Pros

Earn interest on your balance
Linked Visa debit card
24/7 access to your funds
Internet and phone banking

Cons

Need to maintain a high balance for some fee-free transactions

Border Bank Easy Access is an at-call account that also earns you interest on your balance. Equipped with a debit card you can make your everyday purchases without carrying cash or make a withdrawal when you need some. Plus you save on transaction fees with Border Bank reduced fees program.

Details

Key details

Product Name	Border Bank Easy Access Account
Monthly account fee	$0
Card access	Visa
Own network ATM fee	$0
International ATM Fee	$3.80
International transaction fee	3%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Apple Pay, Google Pay, Samsung Pay

Eligibility

Minimum Age	18
Joint account availability	No
Minimum opening deposit	N/A
Residency status	Permanent Australian residents with an Australian address

Key features

Monthly fees

You are not charged any monthly or annual account keeping fees with the Easy Access.

Reduced fees program

If you maintain a combined monthly balance of at least $5,000 in your various Border Bank accounts you will qualify for fee rebates and more ATM and EFTPOS transactions free of charge.

Accessing your account and your money

You have the option of using any one of these to view your account and make transactions; choice of debit card for ATM and EFTPOS, Internet banking, phone banking using Redidial, direct debit, periodical payments, e-transfers, direct credit, cheque facility, BPAY and Bank@Post.

Debit card

You are given the choice of a Visa debit card or RediCard to make ATM and EFTPOS transactions.

Visa debit card

If you choose to link your account to a Visa debit card you will be able to make purchases as if using a credit card, yet not have to worry about accruing interest fees. Using Visa PayWave you can also make purchases of under $100 without having to swipe, sign or enter your pin at participating merchants.

Overseas withdrawals

Cash withdrawals made outside of Australia will incur a charge of $3.80 per transaction.

Interest rates

You begin earning a modest interest rate once your monthly balance is maintained at $500 or more.

Interest payments

The interest rate is calculated on your daily balance and paid into the account on 30 June and 31 December.

Credit overdraft

If you qualify you can also attach a credit overdraft facility to the account to cover the cost of any transaction that exceeds your account balance.

Membership

Border Bank is a member owned financial institution serving the Australian Customs and Border Protection sector. Individuals employed by the agency, their family and friends are eligible to apply for membership.

How to apply

Eligibility

If you are already a member of Border Bank you can apply for this account through your online banking platform. If not, you can apply online for membership and for an Easy Access Account. You should make sure that you are eligible for this product before you begin:

Minimum age. You must be at least 18 years of age for Border Bank to open an Easy Access account in your name.
Residency requirements. All applicants need to be Australian residents with an Australian residential address.

Depository requirements. There are no stipulations on how much money you need to initially deposit in order for the account to be activated.

Documentation needed

As you make your way through the application you will find it helpful to have the following documentation on hand:

Tax file number. Providing your tax file number (TFN) or exemption code is not compulsory, but it will help in making sure that Border Bank is withholding tax on your interest earnings at the correct rate for your financial circumstance.
Identification. Australian law requires that your identity be verified using information from a photo identification document like your driver's licence, passport or Medicare card.

What happens after I submit my application?

Once your application has been submitted a Border Bank rep will contact you with your new transaction account details and the approximate amount of time you can expect to receive your linked debit card in the mail. You will need to activate the card before you can begin making any withdrawals or purchases.

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Border Bank Easy Access

Pros

Cons

Key features

Monthly fees

Reduced fees program

Accessing your account and your money

Debit card

Visa debit card

Overseas withdrawals

Interest rates

Interest payments

Credit overdraft

Membership

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other transaction accounts

Your reviews

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