No fee bank accounts

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

Stop wasting your money! Check out fee-free bank accounts below

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

HSBC Everyday Global Account

Earn 2% cashback on tap and pay purchases. T&Cs apply.
Earn 2% cashback on tap and pay purchases. T&Cs apply.
1 - 7 of 7
Name Product Contactless Payments Instant Payments ATM Withdrawal Fee Monthly account fee
HSBC Everyday Global Account
Google Pay, Apple Pay
Earn 2% cashback on tap and pay purchases. T&Cs apply.
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.

MyState Bank Glide Account
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
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.
Great Southern Bank Everyday Account
Google Pay, Apple Pay, Samsung Pay
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.
Great Southern Bank Everyday Edge Account
Google Pay, Apple Pay, Samsung Pay
Osko, PayID
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.
Westpac Choice Student
Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay
Osko, PayID
$0 account keeping fee for students and customers under 30
Make purchases 24/7 using your Westpac Digital Card in the Westpac App.
Students will pay no monthly account keeping fee with no deposit conditions to meet. Pay with your phone or wearable device anywhere and anytime, and access cash without your debit card using Cardless Cash.
Citi Global Currency Account
Apple Pay, Samsung Pay
Osko, PayID
Earn up to 0.7% 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 Youth Account
Google Pay, Apple Pay, Samsung Pay
Osko, PayID
Designed for young Australians between 10 and 17 years old, a Great Southern Bank Everyday Youth Account is designed to make everyday banking easier.

Compare up to 4 providers

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 well 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
  • HSBC Everyday Global account
  • ING Orange Everyday account
  • MyState Bank Glide Account
  • Suncorp Everyday Options Account
Domestic ATM withdrawal fees
  • ING Orange Everyday account (conditions apply)
  • ME Everyday bank account
  • Macquarie Bank Transaction Account
International transaction fees
  • ING Orange Everyday account (conditions apply)
  • Macquarie Platinum Transaction Account
  • HSBC Everyday Global Account
Overseas ATM withdrawal fees
  • ING Orange Everyday
  • Westpac Choice transaction account
  • Bankwest Platinum debit Mastercard (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.

What's the catch with a fee-free bank account?

A lot of banks today simply charge no monthly account keeping fee, with no strings attached. However some accounts will need you to meet a certain deposit condition each month before the fee is waived. This could catch you out if you're not aware of it before opening the account, so just make sure to check if there are any conditions attached.

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.

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