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BankSA Complete Freedom Account

Alison Banney
Alison Banney
Last updated:  

The monthly account fee is waived for under 21s, students and customers who deposit at least $2,000 a month

This account comes with a Visa Debit Card that you can use in stores, online or at ATMs all around the world. You'll pay no ATM fees at over 3,000 ATMs in Australia and at over 50,000 ATMs globally.

Enjoy 24/7 access to your account with Internet, phone and mobile banking and make payments with your phone without your debit card using Apple Pay.

$2,000

Fee Free Deposit

$5

Account keeping fee

$0

ATM withdrawal fee

$5

Overseas ATM withdrawal fee

Details

Product NameBankSA Complete Freedom Account
Monthly account fee$5
Card accessVisa
ATM Withdrawal Fee$0
Internatonal ATM Fee$5
International transaction fee3%

Expert review

Alison Banney

Review by

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

Expert review

This is an everyday transaction account with a free linked Visa Debit Card for customers over the age of 14. It offers Apple Pay as well as Cardless Cash, which is a feature in the mobile banking app that allows you to withdraw cash from eligible ATMs using your phone without your debit card.

There is a $5 monthly account keeping fee, however this is waived if you’re under 21, a full time student or apprentice or if you deposit at least $2,000 a month. If you’re planning to deposit your salary into the account to meet the monthly deposit condition, make sure the money is in the account before the last business day of the month.

You can make free ATM withdrawals at all major bank ATMs here in Australia, and at 50,000+ international ATMs all over the world through the Global ATM Alliance. You can also use the Visa Debit Card overseas in shops and stores just like you would in Australia, but there is a foreign transaction fee of 3% applied to each transaction where a currency conversion is required. So if you travel a lot and prefer to use your debit card to make purchases instead of withdrawing cash, you could save some money with an account that doesn’t charge this fee.

This account offers free staff-assisted transactions, which is great if you like to go into a branch to deposit money or cheques.

SPECIAL OFFER: $50 CASH BONUS

Receive a $50 cash bonus when you open a new BankSA Complete Freedom Account account online by 30 June 2020 and deposit $500 within 30 days of opening the account. You must also make sure the account remains open for at least 45 days from the date of account opening. New account holders only. T&Cs apply.

Key features

$5 waivable monthly account fee

There is a $5 monthly account service fee for the Complete Freedom account, but if you are able to deposit at least $2,000 by the last business day of the month, that fee is waived. This is a month to month feature so if you're unable to deposit $5 one month, you can still take advantage of it the next.

No account keeping fees for students

The monthly fee is waived entirely for those aged under 21 and for tertiary students without having to meet the monthly deposit condition.

How to apply

If after making your comparisons between the BankSA Complete Freedom Account and other banks' transaction accounts you find that this one has all that you need, click 'go to site' to be redirected to a secure application site. Before doing so, check the following to make sure that you are eligible for the account and have the necessary documents handy.

Eligibility

  • Age requirement. All applicants must be at least 18 years of age to be considered for this account.
  • Residency requirement. In order to open a Complete Freedom everyday account you must currently be in Australia with a verifiable Australian residential address.

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