Compare Student Debit Cards

A student debit card is convenient for everyday purchases to avoid dipping into your savings and losing track of your spending.

A debit card only draws money from your bank account, so you cannot spend more than you actually have. The other main benefit is that you will not have to carry too much cash around with you, which cuts the risk and consequences of theft or loss. Just make sure that you do not abuse any overdraft facility on your student debit card, or you will likely be hit by bank fees. Use our table below to instantly compare some great debit card options.

Students Debit Card Offer

NAB Classic Banking

Students Debit Card Offer

$0 monthly account fees.
Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone.

  • Account keeping fee: $0.00
  • Linked debit card: Visa
  • ATM withdrawal fee: $0.00
  • Overseas EFTPOS fee: 3%
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Promoted
Rates last updated February 24th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
NAB Classic Banking
Visa
$0
$0
$0 monthly account fees.

Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone.
Westpac Choice Student
Mastercard
$0
$2,000
$50 cash bonus and $0 monthly account fee.

Receive a $50 cash bonus when you open a new Westpac Choice Student account online before 29 March 2018 and deposit $250 within 45 days of opening the account. You must be under 21 years old or a full time student, or new to Australia to be eligible.
St.George Complete Freedom Student Account
Visa
$0
$50 cash bonus
A student bank account with a linked Visa debit card and Mobile + Phone banking. Get a $50 cash bonus if you open a new account and deposit $250 within the first 45 days (conditions apply)
Bankwest Student Account
Mastercard
$0
$0
Get discounts from a range of brands like McDonalds, Hoyts and City Beach.
Community First Student Starter Account
Visa
$0
$0
Designed for students aged 17-24 and studying their first degree or traineeship full-time.
Bank of Sydney Student Transaction Account
Visa
$0
$0
A flexible, student bank account with a linked Visa debit card.
P&N Student Account
Visa
$0
$0
A bank account for secondary and tertiary students aged between 16-25 years old.
Bendigo Bank Student Account
Mastercard
$0
$0
Available to full time students, apprentices and trainees over 12 years.

Compare up to 4 providers

Rates last updated February 25th, 2018
$
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Monthly Account Fee
Westpac Life
Ongoing, variable 2.30% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
2.30% 1.50% 0.80% $0 $0 / $0 Go to site More
ANZ Progress Saver
Ongoing, variable 1.71% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
1.71% 0.01% 1.70% $0 $10 / $10 Go to site More
Westpac eSaver
Total introductory rate of 2.41% p.a. for 5 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.41% 0.80% 1.61% $0 $0 / $0 Go to site More
ANZ Online Saver
Introductory rate of 2.55% p.a. for 3 months, reverting to 0.50% p.a. Available on the entire balance.
2.55% 0.50% 2.05% $0 $0 / $0 Go to site More
St.George Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $1 / $1 Go to site More
Bank of Melbourne Incentive Saver
Ongoing competitive interest rate applied to your entire balance when you make at least one deposit and no withdrawals each month.
2.30% 1.10% 1.20% $0 $1 / $1 Go to site More
BankSA Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $1 / $1 Go to site More
Bank of Melbourne Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $0 / $0 Go to site More
BankSA Incentive Saver Account
Earn a competitive interest rate when you make one deposit of any amount per month and don't make any withdrawals. Available on the entire balance.
2.30% 1.10% 1.20% $0 $0 / $0 Go to site More
CUA eSaver Boost Account
Ongoing, variable 2.75% p.a. when you make a total deposit of at least $250 and no withdrawals in a calendar month. Available on balances up to $500,000.
2.75% 0.25% 2.50% $0 $0 / $1 Go to site More

What is a student debit card?

Providing you with electronic and branch access to your bank account, a student debit card is popular among university and high school students who have not yet established their credit history. An application for a student debit card is convenient and easy as there is no credit history generally required for approval. You only spend the money you have stored in your credit card, and some student debit cards can be used to shop online.

How does a student debit card work?

A student debit card draws funds from your own money in the bank every time you use it. You can swipe it for payment in shops, restaurants, online transactions, link it to your PayPal account, or withdraw money directly from ATM machines.

How do I compare debit cards for students?

When planning to apply for a student debit card, make sure to find the bank that gives you the most benefits. Be mindful that most transaction accounts that are linked to your student debit card usually earn minimum interest.

  • Mastercard or Visa. The two main players in the student debit card space in Australia is Mastercard or Visa. Both have a global ATM network, use the latest in chip and data encryption technology and offer purchase protection if you meet the terms and conditions
  • No monthly or ongoing fees. Spend time to know what they have in store for a student depositor like you. Find out if there are card maintenance fees. Some banks usually waive monthly service fees for full time students.
  • Easy accessibility. Choose one that offers unlimited transactions and ATM withdrawals for free, and one that has an extensive ATM network. Most banks have partnered with other banking institutions that allow ATM withdrawals for free. You may also want to opt for a bank that allows 24/7 online access through their banking portal.
  • Mobile and internet banking. As mobile banking nowadays makes day-to-day transactions faster and more convenient, it is wiser to check the bank's mobile app as well and make sure it works on your Android phone, tablet or iOS device.
  • Special student offers. Promotional offers like discounts at shops may also be included in some student debit cards so it's great to take a look as to which debit card gives you the best value for advantage in terms of charges, security and incentives. Don't forget to carefully review your cardholder agreement.
  • PayPass or PayWave. You can shop faster using PayPass or PayWave technology, which allows you to just tap and go for purchases under $100.

What are the benefits of student debit cards?

  • Fast and easy application without the need of a credit history as you're using your own money.
  • Gives you protection against overspending as you only spend your money that is in your bank account.
  • Most student debit cards have secure chip technology and utilise NFC so you shop faster by tapping and go for your purchases under $100.
  • Works similar to a credit card as you have access to most Visa and Mastercard merchants, locations and ATMs.
  • Debit cards are generally protected with a PIN and Zero Liability Protection.

Things to avoid about student debit cards

  • Fees are the one thing that you must try and avoid with student debit cards. These can include service fees charged per month, ATM withdrawal fees, transaction fees and dishonour fees.

Frequently asked questions

  • How do I apply for a student debit card? After you've looked at your options and decided the student debit card that is best for your needs, you can apply online or through a branch.
  • How long will it take for me to wait for a student debit card application? This depends on the financial institution - generally you can have your card within five working days of lodging the application.
  • Will the bank conduct credit checks upon application for a student debit card? Since a student debit card is tied up with your bank account, it is not subject to credit checks.
  • Can I still use my student debit card overseas? You can use your student debit card and withdraw money from ATMs when you travel internationally but you may be charged with currency conversion and international ATM withdrawal fees. You may want to opt for an alternative travel money option instead.

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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Savings Account Offers

Important Information*
ANZ Progress Saver

Maximum Variable Rate

1.71

Standard Variable Rate

0.01
ANZ Online Saver

Maximum Variable Rate

2.55

Standard Variable Rate

0.50

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