RAMS Action Everyday Account
A simple online transaction account with no fees could be all you need to keep up with your finances.
The RAMS Action Account is an easy-to-manage transaction account that is accessible online. This simple account has BPAY, pay-anyone transfers and direct debit to keep up with your monthly expenses. If you opt to link a debit card, you can also access cash for free using one of the largest ATM networks in Australia and make EFTPOS purchases straight out of your account.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
This account comes with unlimited, free transactions as part of the RAMS ATM alliance, EFTPOS, online and direct debits.
Monthly maintenance fee
There are no monthly charges applied to your account.
RAMS does not require that you maintain any minimum balance.
RAMS is an online financial institution only, providing you with access to your account using online banking. You can make cash deposits at any Australia Post Branch if you have opted for the debit card.
There is an app that can be used to manage your account from, yet it is only available for Apple mobile devices.
You can pay your bills without paying fees using BPAY or pay anyone transfers as well as with direct debits from the account. You are also able to transfer money in between different RAMS' accounts when logged into your online account.
There is a $1,000 daily limit for transfers that includes the total of all your RAMS accounts. You do have the option of changing that limit to as little as $1,000 or as high as $10,000 through your online banking center.
You have the option of linking a debit card to this account, which will allow you to EFTPOS transactions.
If you do opt for the debit card you will be allowed to make unlimited free withdrawals from Westpac, St.George, Bank of Melbourne and BankSA ATMs. This does not include any St.George ATM found at a BP service station. Use of ATMs outside of this network could result in additional fees deducted from your account.
You can make withdrawals overseas from any ATM that displays a Cirrus logo. This will result in a $0 fee for each transaction.
You can set up to have your salary directly credited to this account.
RAMS uses SMS security, which sends a security code to your mobile phone to enter anytime you are making a transfer to a new account or person or changing personal details.
How to apply
If you like the convenience and simplicity of this online account, you can begin your application by visiting RAMS website. There will be some eligibility requirements that RAMS will verify before the account can be issued:
- Minimum age. The minimum age allowed for an account holder is 18.
- Residency requirements. You must be an Australian resident for tax purposes with a verifiable residential address in Australia.
- Depository requirements. There is no minimum deposit amount required to open this account.
Additionally, you are going to be asked for the following documentation as you fill out the application form:
- Tax file number. Although not required for this account, a tax file number (TFN) or TFN exemption code is used to ensure that taxes on any earned interest are being withheld at the correct rate for your circumstance.
- Identification. RAMS will try and verify your identity online using information from your driver's licence. If not possible you may also need to provide details from your passport or Medicare card.
- Contact information. You will be required to provide an Australian residential address and your Australian mobile phone number for SMS security alerts and messaging.
What happens after I submit my application?
If RAMS is unable to verify your identity electronically, you may be asked to visit a Westpac branch in order to complete your application. Once all of your details have been confirmed, you will be notified by email of your account information so that you can begin to make deposits and transfers. If you opted for the debit card, this will be sent to you through the mail.