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.
Student Debit Card Offer
Suncorp Everyday Options Account
Student Debit Card Offer
Monthly account keeping fee waived for life. $0 account keeping fee offer applies to all new accounts opened from 3 December 2018. Save for your individual goals by linking to up to 9 interest-earning sub accounts. Make contactless payments using Google Pay and Apple Pay
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.
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.
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.
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.
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.
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 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.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.