Do fee-free bank accounts earn interest?

Most fee-free bank accounts pay little or no interest, though a few, such as the Macquarie Transaction Account, do pay interest on your balance. If you're looking for a higher return on your money, a savings account would be better suited instead.

Do savings accounts charge fees?

No, savings accounts don't charge fees as they're not designed for making transactions and don't come with debit card access.

Are there fees to use my debit card online?

Most bank accounts won't charge fees for making online purchases from Australian sites. However, if you're shopping from an international retailer an international transaction fee may apply (unless you choose a bank account that doesn't charge this fee).

What is the easiest bank to open up an account with?

Almost any Australian bank lets you open an account online in minutes. You just need some ID, a residential address, plus a phone number and email. With digital debit cards on your phone, you could even start spending money you put in your new account as soon as you transfer it in.

No Fee Bank Accounts 2026: $0 Fees, 35+ Accounts

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Finder Score	Monthly fee	Own network ATM fee	International transaction fee	International ATM Fee
Finder score 9.8Excellent ING Orange Everyday Account Apple PayGoogle Pay	Finder score 9.8Excellent	Monthly fee $0	Own network ATM fee $0	International transaction fee 0%	N/A	Cashback: Get a 1% utility cashback worth up to $100 per year with eligible providers. T&Cs apply.	Go to site View details Compare product selectionCompare	loading

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Finder Score for bank accounts

We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.

Read the full methodology

Most banks don't charge monthly account fees any more. But they do charge fees for things like banking cheques, in-branch withdrawals and foreign transactions.
The best transaction account according to the 2026 Finder Awards is the Macquarie Transaction Account, which has no fees.
Many banks charge minimal fees. Don't stick with one that charges you for every single thing.

What's the best no-fee bank account?

Here is the winner of Finder's 2026 Bank Account Awards.

Macquarie Transaction Account

- - This account was the Finder Awards winner for 2026.
  - It has no monthly account keeping fee, and no conditions to meet.
  - There are no international transaction fees and no overseas ATM fees, which is great if you like to travel.
  - The money in your account earns interest, currently 3%.

Must read: How to avoid bank account fees

If you have a bank account with a $5 monthly account keeping fee, that's $60 a year gone to fees. And if you're charged $2.50 each time you withdraw cash, and you visit an ATM just once a week, you can say goodbye to another $130 a year. Adding foreign transaction fees and overseas ATM fees to the mix, you could easily be wasting over well over $200 a year on fees.

Breaking down the fees banks charge

Aside from account keeping fees, ATM fees and international transaction fees, many banks charge:

- - Additional card fee: If you request an additional debit card on top of the free card that's included. This could be $20-$50.
  - BPAY error correction fee. If you make a mistake on a BPAY payment, you can amend the details of the transaction for a fee. This can be $20-$35.
  - Bank@Post. If you do some of your banking at Australia Post, you might need to pay a fee to withdraw cash from your account (but deposits are free).
  - Bank cheque. Not many people use these anymore, but if you do there can be a fee of around $10.
  - Coin counting. If you empty your piggy bank and want it counted in a branch, there's usually a fee for this.
  - Note handling fee. Similar to coin counting, if you've got a large stack of notes the bank may charge you a small fee for their time to count them.
  - Periodical Payment fee. Periodical payments between transaction and savings accounts are generally free. Charges can apply when you're transferring between accounts from different institutions.
  - Debit card replacement fee. If you misplace your card, you'll usually need to pay a fee of around $10-$20 for a new one.
  - Overseas emergency replacement fee. If you misplace your card overseas and need a new card ASAP, you'll likely pay a fee of around $50.
  - Staff-assisted transactions. Some accounts may charge a fee if you need help to make a transaction in a branch.

Our expert says: Sneaky bank fees to watch out for

"Australians hate bank fees, and rightly so. These days very few banks actually charge a monthly just to hold your money. Although the Commonwealth Bank's popular Smart Access Account charges a small monthly fee unless you're under 30 or deposit at least $2,000 a month into the account. And banks find other ways to charge you fees, like international transaction fees or fees for doing transactions in a branch instead of online."

Richard Whitten

Senior Money Editor

How to avoid bank account fees

Bank accounts will charge some types of fees but not others. The best way to avoid fees is to figure out the fees you're most likely to be charged, and look for an account that doesn't charge these (for example if you regularly use ATMs you'll want to avoid ATM fees the most).

What fee do you want to avoid?	Some bank accounts that don't charge this fee
Monthly fees	NAB Classic Banking ING Orange Everyday Account MyState Bank Glide Account Suncorp Bank Everyday Options Account
Domestic ATM withdrawal fees	ING Orange Everyday account (conditions apply) ME SpendME Transaction Account Macquarie Bank Transaction Account
International transaction fees	Ubank Spend Account ING Orange Everyday account (conditions apply) Macquarie Platinum Transaction Account
Overseas ATM withdrawal fees	Macquarie Transaction Account Westpac Choice transaction account Bankwest Platinum debit Mastercard (conditions apply)

Multiple accounts

Finder data found 40% of Aussies have 2 or more bank accounts. If you're paying fees on each one, these can really add up.

Source: Finder Savings Account Statistics

How to compare fee-free accounts

The main thing you'll be looking at is the fees, but there are other features to consider when choosing an account too.

The account fees

Most bank accounts charge no account keeping fees, so if your account does charge this fee know that it can be easily avoided with another account.

Overseas fees

If you're often overseas, or you regularly shop online from international sites, look for an account that has no international transaction fees.

In-branch fees

If you like to do some of your banking in branch, choose an account that doesn't charge extra fees for deposits in branch. It's also worth checking the bank has some branch locations near you.

Online account access

It's convenient to have access to an account via a mobile banking app so you can easily and quickly keep an eye on spending and transactions at any time, wherever you are.

Deposit requirements

Some accounts, particularly business accounts, will require you to maintain a certain monthly deposit or balance to have the account fees waived. If you're considering an account that does this, make sure you can meet the requirements.

Extra perks

Some accounts offer things like cashback when opening the account or ongoing cashback offers when spending.

Payment options

Choose an account that has payment options you want to use, for example, Apple Pay or Google Pay.

Frequently asked questions

Why you can trust Finder's banking experts

You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.

You save time. We spend 100s of hours researching bank accounts so you can sort the gold from the junk faster.

You compare more. Our comparison tools bring you more banking products from across the market.

Sources

Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.

Written by

Alison Banney

Editorial Manager, Money

Add to Preferred Sources

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 575 Finder guides across topics including:

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

More resources on Finder

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Compare bank accounts with no fees