Compare bank accounts with no fees

What's the best no-fee bank account?

Here is the winner of Finder's 2025 Bank Account Awards.

Macquarie Transaction Account

• • • This account was the Finder Awards winner for 2024 and 2025.
    • It has no monthly account keeping fee, and no conditions to meet.
    • There are no international transaction fees and no overseas ATM fees, which is great if you like to travel.
    • The money in your account earns interest, currently 2%.

Breaking down the fees banks charge

Aside from account keeping fees, ATM fees and international transaction fees, many banks charge:

• • • Additional card fee: If you request an additional debit card on top of the free card that's included. This could be $20-$50.
    • 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 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.

Our expert says: Sneaky bank fees to watch out for

"Australians hate bank fees, and rightly so. These days very few banks actually charge a monthly just to hold your money. Although the Commonwealth Bank's popular Smart Access Account charges a small monthly fee unless you're under 30 or deposit at least $2,000 a month into the account. And banks find other ways to charge you fees, like international transaction fees or fees for doing transactions in a branch instead of online."

Richard Whitten

Senior Money Editor

How to avoid bank account fees

Bank accounts will charge some types of fees but not others. The best way to avoid fees is to figure out the fees you're most likely to be charged, and look for an account that doesn't charge these (for example if you regularly use ATMs you'll want to avoid ATM fees the most).

How to compare fee-free accounts

The main thing you'll be looking at is the fees, but there are other features to consider when choosing an account too.

The account fees

Most bank accounts charge no account keeping fees, so if your account does charge this fee know that it can be easily avoided with another account.

Overseas fees

If you're often overseas, or you regularly shop online from international sites, look for an account that has no international transaction fees.

In-branch fees

If you like to do some of your banking in branch, choose an account that doesn't charge extra fees for deposits in branch. It's also worth checking the bank has some branch locations near you.

Online account access

It's convenient to have access to an account via a mobile banking app so you can easily and quickly keep an eye on spending and transactions at any time, wherever you are.

Deposit requirements

Some accounts, particularly business accounts, will require you to maintain a certain monthly deposit or balance to have the account fees waived. If you're considering an account that does this, make sure you can meet the requirements.

Extra perks

Some accounts offer things like cashback when opening the account or ongoing cashback offers when spending.

Payment options

Choose an account that has payment options you want to use, for example, Apple Pay or Google Pay.

Frequently asked questions

• Do fee-free bank accounts earn interest?

  No, typically bank accounts don't pay any interest. If you're looking for an account that pays interest, a savings account would be better suited instead.

• Do savings accounts charge fees?

  No, savings accounts don't charge fees as they're not designed for making transactions and don't come with debit card access.

• Are there fees to use my debit card online?

  Most bank accounts won't charge fees for making online purchases from Australian sites. However, if you're shopping from an international retailer an international transaction fee may apply (unless you choose a bank account that doesn't charge this fee).

• What is the easiest bank to open up an account with?

  Almost any Australian bank lets you open an account online in minutes. You just need some ID, a residential address, plus a phone number and email.

  With digital debit cards on your phone, you could even start spending money you put in your new account as soon as you transfer it in.

Why you can trust Finder's banking experts

You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.

You save time. We spend 100s of hours researching bank accounts so you can sort the gold from the junk faster.

You compare more. Our comparison tools bring you more banking products from across the market.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Serina Bird, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 660 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living