Green Company

Bank Australia Overdraft

Take advantage of added financial protection by linking an overdraft facility to your everyday banking account.

With the Bank Australia Overdraft you will never have to worry about running out of funds. This facility links to your transaction account and allows you to still make purchases, withdraw cash, or pay bills even when you are out of funds. You will be charged interest on the money that you use, but that could be the better alternative to a declined transaction when you need it.

No reviews yet. Write a review


Account keeping fee


ATM withdrawal fee


Overseas transaction fee

of transaction value

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!


Product NameBank Australia Overdraft Account - Discontinued
Monthly account fee$2
Card accessVisa
ATM Withdrawal Fee$0
International transaction fee3%
Monthly deposit required to waive account feeN/A
Contactless PaymentsGoogle Pay, Apple Pay, Samsung Pay

Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

You have the option of adding this overdraft facility to your Bank Australia Everyday Access transaction account if you feel like you might need a bit of extra cash from time to time. With the overdraft attached, you can continue to spend even if the balance of your Everyday Access account goes below $0. This feature could be particularly handy if you get paid irregularly (for example you do shift work or you’re a freelancer) to help manage cash flow.

It’s a form of credit, so you do need to pay interest on the money you loan from the bank in the form of an overdraft. Plus, when you deposit money into the account it’ll reduce your overdraft amount owed first, before topping up your transaction account balance. So make sure you weigh up the cost of paying interest on the overdraft amount versus the inconvenience of being short of cash.

Bank Australia Overdraft Account is no longer available​ to apply.

Key features

Account maintenance fee

With an overdraft, you will be charged $2 a year which will automatically be deducted from your account.

How it works

An overdraft is a credit facility that can extend your available balance when your funds have been exhausted. When you deposit money into the attached Everyday Access Account, the balance of your overdraft will be cleared first.

How to apply

The application process for an overdraft differs from applying for a savings account, as you are applying for product that is extending you credit. For that reason, when you start an online application you will be directed to a loan application. If you don't already have a Bank Australia Everyday Access Account, you will need to apply for that transaction product first.


Other eligibility requirements you will have to meet include:

  • Minimum age. As with the linked Everyday Access Account, you must be at least 18 years of age to be considered for the overdraft.
  • Residency requirements. Only Australian residents with a verifiable residential address are permitted by Bank Australia to become a member and apply for any of their products.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site