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Hay Account: Digital transaction account and card

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A fee-free digital transaction account and card with no international transaction fees and free overseas ATM withdrawals.

The Hay Account is a 100% digital transaction account that's managed entirely via the Hay mobile app. It comes with a Visa card, and is designed to help you budget and save money when travelling and when at home.

$0

Account keeping fee

$0

ATM withdrawal fee

$0

Overseas ATM withdrawal fee

Details

Product NameHay Account
Monthly account fee$0
Card accessVisa
ATM Withdrawal Fee$0
Internatonal ATM Fee$0
International transaction fee0%
Monthly deposit required to waive account feeN/A
Contactless paymentsN/A

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

The Hay Account is a completely digital transaction account that operates entirely via the mobile app. The account comes with a Hay Visa Card which you can load money onto and use all over the world.

You can join the waitlist for the account by downloading the app and entering in a few basic details. Something that’s really cool about this waitlist is that the first 10,000 people to join will be considered founders. As a founder, you’ll get your own limited-edition founders card and various account perks for life. This is really unique for a banking product, as you don’t often get rewarded for being a long-term customer.

You can use this account as your day-to-day spending account in Australia, and it also makes for a good travel money option when you’re overseas. It charges no international transaction fees and you can withdraw up to $500 from overseas ATMs for free each month. If you mainly pay for things via card, this should be plenty. But if you often withdraw large amounts of cash overseas, keep in mind you will be charged 1.5% for any amount you withdraw over $500 in the month.

One important thing to note about this account is that it's not a bank account, and the card is not a debit card. So unlike other Australian banks, your deposit with Hay isn't protected under the Government Guarantee Scheme. This could be something to consider before you deposit large amounts of cash into the account.

Key features

Digital transaction account

The Hay Account is a digital transaction account designed for day-to-day spending and to help you track your budget. You can transfer money to your Hay Account like you would any other bank account using your BSB and Account Number. However, the Hay Account is not a bank account.

Prepaid Hay Card

The Hay Account comes with a prepaid Visa card. As the Hay Account is not a bank account, the card is a prepaid Visa card not a debit card. You can still use the card anywhere Visa is accepted all around the world.

First 10,000 customers will be 'founders'

The First 10,000 customers to join Hay will be classed as founders for life, and enjoy a range of special account perks and features. Founders will also receive an exclusive, limited edition founders card.


How to get a Hay Account

You can get a Hay Account and card by downloading the app on either Google Play or the App Store for free. You'll be asked to give your phone number and join the waitlist.

Eligibility

  • Residency. You must be an Australian resident with a residential address.
  • Age. You must be over 16 years old.

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