No fee bank accounts

Stop wasting your money and start looking for an Australian bank accounts with no fees. These bank accounts won’t charge you transaction or ATM fees so you can keep your cash right where it is.

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A no fee bank account could save you thousands of dollars over time. Luckily, there are heaps of Aussie bank accounts that won't charge you account keeping, ATM or foreign transaction fees. Woohoo! The sooner you switch to a fee-free account, the sooner you'll start saving even more money.

Opening an account is quick and easy to do, and we've even done most of the work so you can just check out our table before and find one that looks right for you.

Stop wasting your money! Compare fee-free bank accounts below

Promoted
Bank account offer
HSBC Everyday Global Account
Promoted
$0
monthly fee
$0
ATM withdrawal fee
  • Google Pay, Apple Pay
  • Monthly fees: $0
  • No international transaction fees
  • Up to 10 currencies

HSBC Everyday Global Account

Special offer: $100 cash bonus for new HSBC customers. Earn 2% cashback on tap and pay purchases, and transfer money overseas online to family or friends and pay $0 International Transfer Fee (save $8). T&Cs apply on all offers.
Special offer: $100 cash bonus for new HSBC customers. Earn 2% cashback on tap and pay purchases, and transfer money overseas online to family or friends and pay $0 International Transfer Fee (save $8). T&Cs apply on all offers.
Name Product Contactless Payments Instant Payments ATM Withdrawal Fee Monthly account fee
HSBC Everyday Global Account
Google Pay, Apple Pay
N/A
$0
$0
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases, and transfer money overseas online to family or friends and pay $0 International Transfer Fee (save $8). T&Cs apply on all offers.
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.

NAB Classic Banking
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
$0
$0
Enjoy convenient, unlimited access to your money.
$0 monthly account fee.

Tap and pay with your NAB Visa Debit card or your phone using Apple Pay, Google Pay, Samsung Pay or NAB Pay for Android. Temporarily block your card at the touch of a button if you lose it.
MyState Bank Glide Account
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
$0
$0
Simplify your everyday banking with these sleek digital features.
$0 monthly account fee.
Choose the way you pay with access to Google, Samsung and Apple Pay plus Fitbit Pay and Garmin Pay. Send and receive money in less than 60 seconds with PayID.
Suncorp Everyday Options Account
Google Pay, Apple Pay, Samsung Pay
Osko, PayID
$0
$0
Link up to 9 interest-earning sub accounts.
$0 monthly account keeping fees.
Earn interest on your linked sub accounts to help you save for individual goals, with no account fees to pay. Make contactless payments using Google Pay and Apple Pay.
Great Southern Bank Everyday Edge Account
Google Pay, Apple Pay, Samsung Pay
Osko, PayID
$0
$0
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
Citi Global Currency Account
Apple Pay, Samsung Pay
Osko, PayID
$0
$0
Earn up to 0.45% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
Great Southern Bank Everyday Account
Google Pay, Apple Pay, Samsung Pay
Osko
$0
$0
Enjoy flexible payment options and access to a wide network of ATMs.
$0 monthly account fee.
Access to Google, Samsung and Apple Pay. Enjoy fee-free cash withdrawals from 10,000+ ATMs across Australia.
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You could save hundreds by switching to a fee-free bank account

If you have a bank account with a $5 monthly account keeping fee, that's $60 a year gone to fees. And if you're charged $2.50 each time you withdraw cash, and you visit an ATM just once a week, you can say goodbye to another $130 a year. Adding foreign transaction fees and overseas ATM fees to the mix, you could easily be wasting over $200 a year on fees.

How does a fee-free bank account work?

Fee-free bank accounts come in many forms. A truly fee-free account will waive the monthly fee no matter how much you deposit into the account. Other fee-free bank accounts give free ATM withdrawals, Qantas Points and cash back. There are more fee free accounts with conditions than without.

Most fee free bank accounts still have backend fees for certain transactions, like overseas withdrawals and international transaction fees.

What fee do you want to avoid?Some bank accounts that avoid this fee
Monthly fees
  • NAB Classic Banking
  • Citibank Plus transaction account
  • HSBC Day to Day transaction account
  • ING Orange Everyday account
Domestic ATM withdrawal fees
  • ING Orange Everyday account (conditions apply)
  • ME Everyday bank account
International transaction fees
  • Citibank Plus transaction account
  • Macquarie Platinum Transaction Account
Overseas ATM withdrawal fees
  • Citibank Plus transaction account (conditions apply)
  • Westpac Choice transaction account
  • Bankwest Platinum debit Mastercard (conditions apply)
Overdrawn fees
  • NAB Classic Banking account
International money transfer fees
  • Citibank Plus transaction account (conditions apply)
  • Macquarie Platinum Transaction Account (conditions apply)

Additional bank account fees you might be charged

The fees in the table above are the most common, day-to-day fees you're likely to face with a bank account. However, there's a bunch of other fees and charges you could face from time to time. Here are some example of additional fees you might face, even though they're less common in your daily banking.

  • Additional card fee: If you request an additional extra debit card on top of the free card that's included.
  • BPAY error correction fee. If you make a mistake on a BPAY payment, you can amend the details of the transaction for a fee. This can be $20-$35.
  • Bank@Post. If you do some of your banking at an Australia Post, you might need to pay a fee to withdraw cash from your account (but deposits are free).
  • Bank cheque. Not many people use these anymore, but if you do there can be a fee of around $10.
  • Coin counting. If you empty your piggy bank and want it counted in a branch, there's usually a fee for this.
  • Note handling fee. Similar to coin counting, if you've got a large stack of notes the bank may charge you a small fee for their time to count them.
  • Periodical Payment fee. Periodical payments between transaction and savings accounts are generally free. Charges can apply when you're transferring between accounts from different institutions.
  • Debit card replacement fee. If you misplace your card, you'll usually need to pay a fee of around $10-$20 for a new one.
  • Overseas emergency replacement fee. If you misplace your card overseas and need a new card asap, you'll likely pay a fee of around $50.
  • Staff-assisted transactions. Some accounts may charge a fee if you need help to make a transaction in a branch.

Do fee-free bank accounts earn interest?

These accounts don’t reward you with interest, though there are many fee-free savings accounts that reward you with bonus interest to help grow your savings balance.


bank-accountsHow do I compare fee-free bank accounts?

Read the fee-free conditions

Some bank accounts do not charge monthly fees when you meet conditions like depositing over a certain amount each month. This amount ranges from $1,000 to $2,000 depending on the account.

Determine if your salary can cover the fee-free deposit

In most cases, your salary should be enough to have the monthly fee waived. Have your employer deposit your pay into a fee free bank account so you can automatically meet the service fee waiver each month.

Look at the other non-traditional fees that may apply

These accounts do waive the monthly service fee but other fees could apply. You may be charged for using your bank account overseas and for overseas ATM withdrawals. The product disclosure statement has a full breakdown of fee free bank account fees.

Linked debit card access

Financial institutions give you a debit card to use at the ATM, over the counter or to shop online. You get a Visa or Mastercard debit card or an EFTPOS to use over the counter, online or at an ATM.

ATM network and cost for withdrawals

Most banks charge a fee when you make an ATM withdrawal from a non-partner ATM. Naturally, the financial institution with the largest ATM network looks the most favourable, but there are accounts that do not charge ATM fees.

Other products offerings

What else does the financial institution offer? You can make instant transfers between a high interest savings account and fee free bank account if both accounts are held with the same institution.


What are the good and bad points for a fee-free bank account?

The good points

  • There are $0 account keeping fees. By choosing a fee free bank account you can save money by not paying a monthly account service fee. This is a saving of approximately $50 a year. Check the case study above for more information on savings.
  • You get ATM access. Some of these fee free bank accounts also give you a deal on ATM transactions. Some accounts do not charge for transactions at a non-partner ATMs.
  • You can also look forward to other perks. Waiving the monthly service fee is the least you should expect. Some bank accounts give you perks like cash back or Qantas Points when you spend.

The bad points

  • You still get charged other odd fees. Unfortunately truly fee-free baking is not common. Bank account issuers will still charge for certain types of transactions, like making a purchase or withdrawing money overseas and overdrawing from your account. However it is possible to get by without incurring any of these fees.

Have more questions you need answered?

Q. How do I know if an account is really fee free?

A. Read our fee free bank account review and application pages for a full list of the fees and charges. There are many accounts that waive the monthly transaction fee; however, other fees may still apply. Common backend fees include:

  • Statement reissue fees,
  • Fees for issuing an additional card,
  • Fees for telephone banking transactions and staff-assisted transactions made at a branch,
  • Fees for overdrawing your account,
  • Fees for making a purchase in a foreign currency,
  • Fees for overseas ATM withdrawals.

Q. Can I overdraw my transaction account?

A. Some financial institutions let you overdraw your transaction account, for example, if you have direct debit your bank account can go into a negative balance. Bank fees can overdraw your account as well. Some banks charge a fee if you overdraw your account. You can find out which fee free bank accounts charge a debit dishonour fee by reading or bank account review and application pages and the product disclosure statement.

Overdrawn fees charged by the Big 4 Banks

From Australia's Big 4 banking institutions: ANZ, NAB, Commonwealth Bank and Westpac; only NAB do not charge a fee if you overdraw your transaction account. These two banks may decline a transaction which takes you past your available balance.

Commonwealth Bank and Westpac may allow you to spend more money than you have in your account; however, you'll incur an overdrawn fee for doing so.

BankOverdrawn fee
NAB$0
ANZ$6 daily (each day overdrawn by more than $50)
CommBank$10 daily
Westpac$15

Q. How do I switch to a fee free bank account?

A. If you find a fee free bank account and you would like to apply, you can switch your bank account in a few simple steps. Have a look at our bank account comparison page for information on how to switch bank accounts.

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