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No servicing fees banking accounts

See a list of the top fee free bank accounts

Updated: 01.09.2026

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Quick Rates Review

Compare top financial options at a glance. Comprehensive analysis for each listed offer is available further down the page

Institution

Rate (APR/APY)

Sum & Term

Australian Military Bank

4.6%

Flexible Amount

Flexible Term

Bank Australia

0.05%

Flexible Amount

Flexible Term

Bank First

1.7%

Flexible Amount

Flexible Term

BOQ Specialist

0.1%

Flexible Amount

Flexible Term

Gateway Bank

0.01% - 4.75%

Flexible Amount

Flexible Term

Greater Bank

0.01%

Flexible Amount

Flexible Term

Heritage Bank

0.01%

Up to $1

Flexible Term

P&N Bank

0.01% - 0.05%

Flexible Amount

Flexible Term

Queensland Country Bank

0.01%

Flexible Amount

Flexible Term

Suncorp Bank

0.01%

Flexible Amount

Flexible Term

Quick Expert Insights

Interest Rates

Average:0.65%

Range:0.01% - 4.75%

Product Term

Minimum: 0 days

Maximum: 0 days

Limit / Amount

Min Entry:$1

Max Limit:$0

Analysis of 10 offers shows an average rate of 0.65%, with the absolute market maximum reaching 4.75%. Flexible terms from 0 days are available at , while offers terms up to 0 days . The lowest entry is $1 (via Heritage Bank).

Full Products Review

In-depth analysis of available financial offers. Compare detailed terms and explore expert insights to choose the most suitable option for your needs.

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AMP Bank

AMP Bank GO Everyday Account

💰 Fees & Rates

Monthly account fees: Nil Domestic ATM withdrawals (at ANZ, CBA, NAB, Westpac, and ATMx): Nil International transaction fees: Nil International ATM withdrawal fees: Nil

📋 Important Terms

Earn 2 Qantas Points for every 10 dollars on average monthly balance between February and May 2026 when linked Mobile app access only (no online web portal available) No minimum monthly deposit or balance requirements Includes a numberless Debit Mastercard for enhanced security Supports real-time payments via PayID, NPP, and BPAY

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The AMP Bank GO Everyday Account is a standout choice for travelers and digital-first users, offering a rare combination of zero monthly fees and zero international transaction fees without any deposit hurdles. Compared to the Big Four banks, which typically charge 3% for international currency conversions or require monthly deposits to waive account fees, this product offers superior transparency and cost savings. However, the lack of a desktop web portal and the inability to earn interest on balances may be a dealbreaker for traditional users. It is best suited for individuals who manage their finances entirely via smartphone and want a low-cost secondary account for international spending or Qantas point accumulation.

📍 View official contacts for AMP Bank

ANZ Bank

ANZ Plus Everyday Account

💰 Fees & Rates

No monthly account fees
No withdrawal fees at major domestic Australian bank ATMs
$5 per international ATM withdrawal (free at ANZ ATMs)
3% fee on overseas transactions
Inward international transfer fee up to $15
$10 monthly fee if linked as an offset account to ANZ Plus Home Loan

📋 Important Terms

Comes with ANZ Plus Growth Saver multi-goal savings account
Access via mobile app with digital onboarding
Real-time spending insights and categorization tools
Supports Apple Pay, Google Pay, Samsung Pay and Garmin Pay
Instant payments via Osko, PayID, PayTo and Visa Debit
24/7 fraud monitoring with ANZ Falcon security system
Upcoming expenses prediction based on transaction history

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

This is a strong digital-first everyday account with no monthly fees and advanced budgeting tools, making it competitive with entry-level accounts from major Canadian banks like RBC, TD, or Scotiabank. Its biggest advantage is the integrated financial insights and automation features, which are more advanced than typical Big Five offerings. The main drawback is international usage costs, including FX and ATM fees. This product is best suited for tech-savvy users who want better control over daily spending and savings through a mobile-first banking experience.

📍 View official contacts for ANZ Bank

Australian Military Bank

Online Saver

Rate: 4.6%

💰 Fees & Rates

No monthly account keeping fees Free online and mobile banking access

📋 Important Terms

Bonus interest rate applies to balances over 0 dol when no withdrawals are made during the month Interest is calculated daily and paid monthly Available as an online-only account for personal use

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Online Saver offers a highly competitive bonus rate of 4,60%, outperforming many standard savings products from the "Big Four" (CBA, NAB, ANZ, Westpac) that often require a minimum monthly deposit. The main advantage is the high yield for disciplined savers, while the primary disadvantage is the total loss of bonus interest if even one withdrawal is made. This product is best suited for individuals who want to park their savings without the need for frequent access.

📍 View official contacts for Australian Military Bank

Australian Mutual Bank

Australian Mutual Bank General Services

💰 Fees & Rates

No specified monthly fees for digital access in this overview Bank@Post transaction fees may apply depending on account type Third-party fees for certain digital wallet transactions may apply

📋 Important Terms

Eligible deposits are protected by the Financial Claims Scheme up to 250000 dol Membership required as a 100% customer-owned institution Access to Osko and PayID for real-time payments Support for digital wallets on phones and smartwatches In-person support available via branches and Mobile Banking Specialists

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

Australian Mutual Bank offers a compelling "ethical banking" alternative to the "Big Four" (Commonwealth Bank, NAB, ANZ, Westpac). The primary advantage is its mutual structure, where customers are owners, often leading to more personalized service and a focus on community benefit rather than shareholder profit. While it lacks the massive branch density of Westpac or CBA, it effectively bridges this gap through the Bank@Post network and dedicated Mobile Banking Specialists who visit customers at home. This service model is best suited for individuals who prioritize socially responsible banking and local support without sacrificing modern digital features like PayTo and Osko.

📍 View official contacts for Australian Mutual Bank

Australian Mutual Bank

Transaction Account

💰 Fees & Rates

Annual fee: 0 dol Monthly account keeping fee: 0 dol ATM withdrawals: Free from non-direct charge ATMs Internet and Mobile banking access: Free

📋 Important Terms

Includes a Visa Debit card for global access Supports digital wallets: Apple Pay, Google Pay, Samsung Pay, and Garmin Pay No minimum opening deposit or monthly balance required BPAY and periodic payment functionality available Branch access included for over-the-counter services

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

This Transaction Account provides a straightforward, zero-fee everyday banking experience that competes well with the "Big Four" banks (Commonwealth Bank, NAB, ANZ, Westpac). Its primary advantage is the lack of monthly fees and broad digital wallet support, including less common options like Garmin Pay. However, the main disadvantage is the 0,00% interest rate, which is common for such accounts but offers no protection against inflation. It is best suited for individuals who want a simple, fee-free hub for their daily income and expenses with the flexibility of both digital and branch-based banking.

📍 View official contacts for Australian Mutual Bank

Bank Australia

Everyday Access

Rate: 0.05%

💰 Fees & Rates

Monthly account fee: $0 ATM withdrawals at Bank Australia and major banks: $0

📋 Important Terms

Applicants must be 18 years or older to apply online. Balances from $0 to $49999 earn 0% interest, while balances of $50000 or more earn 0,05% p.a. Includes a Visa Debit card with digital wallet, Osko, and PayID capabilities. Supports low-cost international transfers via app and internet banking.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Everyday Access account is a solid, fee-free transaction account designed for daily use. The primary advantage is the lack of monthly account keeping fees combined with free ATM access across all major Australian banks. The main disadvantage is the incredibly low interest rate, which only kicks in at a nominal 0,05% p.a. for balances exceeding $50000, making it entirely unsuitable as a primary savings vehicle. When compared to everyday accounts from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), Bank Australia matches the fee-free structure many majors have adopted, but adds the unique appeal of a clean money promise. This account is best suited for environmentally conscious consumers who need a reliable, fee-free hub for their daily transactions and salary deposits.

📍 View official contacts for Bank Australia

Bank Australia

Basic Access

💰 Fees & Rates

Monthly account fee: $0 ATM withdrawals at Bank Australia and major banks: $0 Overdrawn/exceeding available funds fee: $0 Debit interest on overdrawn accounts: $0

📋 Important Terms

Exclusive to health care and concession card holders. No overdraft facilities are available with this account. Includes a Visa Debit card with digital wallet compatibility. Features Round Up, Osko, and PayID capabilities for instant payments.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Basic Access account by Bank Australia is an excellent inclusionary banking product tailored for health care and concession card holders. Its main advantage is the absolute removal of monthly fees and overdrawn penalties, ensuring vulnerable customers are not penalized for tight finances. The main drawback is the lack of any interest earned on balances. Compared to basic concession accounts from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), this product stands out with its strong ethical banking mandate and equal access to modern digital features like Osko, PayID, and Round Up without hidden costs. It is perfectly suited for low-income earners or concession holders looking for a safe, completely fee-free transaction account.

📍 View official contacts for Bank Australia

Bank First

First Access Account

Rate: 1.7%

💰 Fees & Rates

Account keeping fee: $0 Transaction fees: $0 Annual fee: $0

📋 Important Terms

Designed specifically for customers under 18 years of age. Includes parental spend controls for added security and monitoring. Can be seamlessly linked with a First Saver Account to teach money management. No minimum deposit is required to open the account.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The First Access Account is an excellent everyday transaction product tailored for minors. Its main advantage is the inclusion of parental spend controls paired with an unconditional 1,70% p.a. interest rate, ensuring kids earn money on their daily balance without complex deposit conditions. The primary disadvantage is its strict age restriction, requiring a transition to a standard account upon turning 18. When compared to youth transaction accounts from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), Bank First is vastly superior, as the major banks rarely pay any interest on everyday transaction accounts for kids. It is highly recommended for parents who want to give their children financial independence in a safe, monitored, and fee-free environment while still earning a return on their spending money.

📍 View official contacts for Bank First

Bank First

Everyday Account

💰 Fees & Rates

Account keeping fee: $0 Transaction fees: $0 Annual fee: $0 ATM withdrawal fees in Australia: $0

📋 Important Terms

No minimum deposit needed to open the account. Comes with a Visa Debit Card featuring payWave capabilities. Joint bank accounts are available. Provides 24/7 access via Internet Banking and Mobile Banking app.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Everyday Account by Bank First is a straightforward transaction account suitable for daily expenses. The main advantage is its completely fee-free structure, including zero monthly account fees and no ATM withdrawal fees across Australia. The primary disadvantage is the complete absence of any interest earned on balances, which sits at a flat 0%. Compared to everyday accounts from the Big Four banks (Commonwealth Bank, NAB, ANZ, Westpac Bank), this account matches their typical $0 monthly fee offerings but stands out by removing domestic ATM fees, providing an excellent low-cost banking experience. It is best suited for individuals looking for a simple, cost-free hub for their salary and daily spending without needing to park large savings.

📍 View official contacts for Bank First

Bank of Queensland (BOQ)

myBOQ account

💰 Fees & Rates

Monthly account keeping fees: $0
Transaction fees within Australia: $0
Withdrawal fees at BOQ ATMs within Australia: $0
International transaction fees and third-party ATM fees may apply (refer to the Personal Banking Guide to Fees and Charges)

📋 Important Terms

Available for personal everyday banking transactions.
Includes a BOQ Visa Debit Card constructed from 82% recycled plastic.
Features real-time instant domestic payments via Osko and PayID.
Provides digital wallet compatibility with Apple Pay, Samsung Pay, and Google Pay.
Protected by Visa Zero Liability Policy for unauthorized or fraudulent card purchases.
Requires the myBOQ mobile application for real-time budget tracking, card controls, and automated bill reminders.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Everyday Account is its zero-fee domestic cost structure, eliminating monthly maintenance fees, transaction charges, and BOQ ATM withdrawal fees across Australia, while incorporating advanced app-based budgeting tools. The primary disadvantage is the lack of any interest yield on deposited funds, meaning surplus capital remains stagnant unless manually swept into a linked savings product. Compared to basic transaction accounts from Canada Big Five institutions like RBC or TD Bank—which frequently charge monthly fees ranging from $4 to $16 unless high minimum balances are maintained—this account delivers far superior baseline value with no hurdle requirements. This product is best suited for everyday consumers, students, and budget-conscious retail savers who prioritize modern mobile card controls, instant domestic transfers, and fee-free transactional banking over credit extensions.

📍 View official contacts for Bank of Queensland (BOQ)

BankSA

Everyday Account

💰 Fees & Rates

$0.00 account-keeping fee
$0.00 fee for cash withdrawals on most major bank ATMs in Australia
$5.00 overseas withdrawal fee ($0 when using Global Alliance ATMs)
3.00% foreign currency conversion fee for transactions made outside Australia
$15.00 overdrawn fee
15.01% p.a. Unarranged Lending Rate (ULR) charged if the account becomes overdrawn without arrangement

📋 Important Terms

$50 cashback bonus requires opening a Complete Freedom account and an eligible savings account in the same name
Cashback promotional offer is restricted to new account holders who have not held a BankSA Complete Freedom or savings account in the past 2 years
Must deposit $50 or more into the Complete Freedom account within 10 days of opening
Comes with a Visa Debit card for online, in-store, and over-the-phone payments
Provides lifestyle rewards and discounts via My Offers Hub and ShopBack integration
Includes a 100% fraud money-back guarantee for promptly reported unauthorized transactions

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this account is the total absence of ongoing maintenance costs combined with a very accessible $50 bundle cashback bonus that requires a minimal deposit of just $50. The main disadvantage is the steep pricing structure for minor administrative slips, including a flat $15 overdrawn fee and a high 15.01% p.a. penal interest rate on unarranged debit balances. Compared to standard everyday banking accounts from Canada Big Five institutions like the RBC Day to Day Banking or TD Minimum Fee Account—which impose rigid monthly operational charges unless substantial minimum credit thresholds are maintained constantly—BankSA offers a highly flexible, baseline-free digital structure. This product is best suited for tech-savvy retail consumers, students, and budget-conscious individuals who conduct their primary financial activity electronically and want a clean fee-free framework without balance constraints.

📍 View official contacts for BankSA

BankVic

Everyday Account

💰 Fees & Rates

$0 monthly account-keeping fee
$0 fee for cash withdrawals at any of the four major banks ATMs in Australia

📋 Important Terms

Requires eligibility for BankVic membership (primarily serving police, emergency services, and health sectors)
Available for individuals aged 14 years or over
No minimum monthly balance or regular deposit rules are enforced
Comes with a linked Visa debit card supporting contactless payments and digital wallets (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, and Fitbit Pay)
Supports near-instant transfers via Osko and PayID, alongside NPP, direct debits, and BPAY
An Authority to Operate can be appointed to oversee the account management
This account does not pay credit interest and is unsuitable for wealth accumulation

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this transaction account is the absolute lack of ongoing maintenance fees and the broad accessibility to physical cash via free withdrawals across all major Australian bank ATMs. The main disadvantage is that the account pays zero interest, making it completely inefficient for keeping long-term funds, alongside its restricted membership criteria. Compared to basic everyday checking products at Canada Big Five institutions like the RBC Day to Day Banking or TD Minimum Fee Account—which demand either constant minimum balances or impose strict transaction volume caps to waive monthly fees—BankVic provides an unrestricted, baseline-free operating structure. This product is best suited for eligible BankVic members, emergency services personnel, and their family members who need an uncomplicated, fee-free daily clearing account to coordinate automatic bill scheduling and mobile digital wallet payments.

📍 View official contacts for BankVic

Bankwest

Easy Transaction Account

💰 Fees & Rates

$0 monthly account-keeping fee
$0 fee for using your card in Australia (both ATMs and transactions)
$0 fee for using your card overseas (both ATMs and transactions)
$0 foreign transaction fees
$0 dishonour and honour fees
$0 debit card replacement fee (both domestic and overseas)
$0 paper statement fees

📋 Important Terms

Comes with a linked Platinum Debit Mastercard supporting digital wallets and contactless payments
Features advanced digital security options including the creation of single-use or multi-use virtual cards
Provides subscription tracking, deep transaction searching, and immediate mobile notification alerts
Enables biometric login security alongside instantaneous in-app card locking and unlocking capabilities
Can be linked directly to an Easy Saver account to help optimize and build interest on surplus cash
Does not pay credit interest on the transaction balance itself

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of the Easy Transaction Account is its absolute zero-fee structure across both domestic and international channels, completely eliminating standard banking annoyances like foreign exchange surcharges and overseas ATM network penalties. The main disadvantage is that the clearing balance itself yields zero interest, meaning any idle funds require active manual relocation to a linked savings account to counteract inflation. Compared to basic transactional offerings from Canada Big Five institutions like the RBC Day to Day Banking or TD Minimum Fee Account—which impose rigid transaction quotas, levy foreign currency conversion markups, and charge monthly maintenance fees unless steep baseline balance thresholds are locked away—Bankwest presents an unrestrictive, consumer-first global utility. This product is best suited for digitally native consumers, frequent overseas travelers, and online international shoppers who want a heavily fortified daily debit platform with zero administrative overhead and full freedom from currency conversion fees.

📍 View official contacts for Bankwest

Bendigo Bank

Everyday Account

💰 Fees & Rates

Monthly fees: $0
Bendigo Bank ATM withdrawals: $0 (unlimited)
In-branch staff assisted services (including cash withdrawals and transfers): $2.50 per transaction
EFTPOS withdrawals within Australia: $0 (unlimited)
Retail purchases within Australia: $0 (unlimited)
e-banking transfers, BPAY, Pay Anyone (including OSKO), and phone banking transfers: $0 (unlimited)

📋 Important Terms

Designed as an all-in-one transaction account to help manage money for everyday needs
Allows linking to a Bendigo home loan to offset monthly mortgage interest
Provides access to money via a Debit Mastercard with 24/7 fraud monitoring
Supports digital banking features including e-banking, phone banking, and payments via phone or wearable watch
Offers the option to set up eco-friendly e-statements on the account
Includes security protection via Multi-Factor Authentication (MFA)

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The primary advantage of this everyday transaction account is its exceptional cost efficiency, delivering completely unlimited free domestic electronic transfers, retail purchases, and ATM withdrawals paired with a permanent $0 monthly maintenance fee. The main drawback is the $2.50 friction fee applied to each staff-assisted or in-branch transaction, meaning users who rely heavily on over-the-counter banking services will encounter sudden operational costs. Compared to basic transactional offerings from Big Five institutions, which frequently dictate strict minimum monthly cash injection rules or demand holding flat capital balances to successfully waive account keeping overheads, this product provides a highly transparent and predictable fee-free environment. This account is best suited for tech-savvy retail consumers, salary earners, and mortgage holders who primarily execute digital self-service transactions and wish to maximize interest savings by linking their fluid day-to-day capital to an active home loan offset facility.

📍 View official contacts for Bendigo Bank

Beyond Bank Australia

Purple Transactor Account

BOQ Specialist

One Account

Rate: 0.1%

💰 Fees & Rates

No monthly account keeping fees. Free ATM withdrawals at all BOQ ATMs within Australia. Interest charges apply only to the utilized amount of the optional overdraft.

📋 Important Terms

Earns variable interest on daily closing credit balances, paid monthly. Optional unsecured overdraft facility available without tying it to property or personal assets. Includes a Visa Debit card for easy access, payments, and BPAY. When using the overdraft, interest is not earned on the account balance. Deposits protected by the government guarantee up to 250000 dollars.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The One Account is a highly versatile everyday transaction account. The standout advantage is the optional unsecured overdraft, providing a flexible financial safety net without requiring property security. The main downside is the negligible interest rate earned on positive credit balances. Compared to transaction accounts from the Big Four (Commonwealth Bank, NAB, ANZ, Westpac Bank), the seamless integration of an unsecured overdraft makes it highly attractive for managing unexpected expenses. It is ideal for individuals looking for a low-fee primary account with built-in emergency credit flexibility to smooth out cash flow.

📍 View official contacts for BOQ Specialist

Commonwealth Bank (CBA)

Everyday Account Smart Access

💰 Fees & Rates

Monthly account fee: 4 AUD or 0 AUD if you deposit at least 2000 dol per month, are under 30, or meet other criteria CommBank ATM withdrawals: 0 AUD Overdraw fee: 15 AUD (max one per day) International Money Transfer fee: 0 AUD via NetBank or app (excludes AUD to AUD) Paper statement fee: 2,50 AUD

📋 Important Terms

Must be 14 years or older Requires identity verification at a branch within 20 days if applying from overseas Includes physical and digital Debit Mastercard Eligible for CommBank Yello rewards with 5+ transactions monthly Access to digital tools like Bill Sense and Spend Tracker

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Smart Access account is a powerhouse for digital banking, with its main advantage being the award-winning CommBank app and its suite of money management tools like Bill Sense. The primary disadvantage is the 4 dol monthly fee for those over 30 who cannot meet the 2000 dol deposit requirement. Compared to everyday accounts from NAB or Westpac, CommBank offers a more robust reward ecosystem through CommBank Yello. This account is best suited for tech-savvy individuals and students who want a feature-rich banking experience and can easily meet the fee-waiver conditions.

📍 View official contacts for Commonwealth Bank (CBA)

Defence Bank

Everyday Access

Gateway Bank

100% Offset Account

💰 Fees & Rates

Monthly account keeping fee: $0
Annual fee: $0
Visa Eco Debit Card monthly fee: $0

📋 Important Terms

Must be linked to an eligible Gateway Bank variable home loan, construction loan, or land loan
Operates as an at-call transaction account with 24/7 online banking and BPAY access
No minimum balance requirements
Includes a biodegradable Visa Eco Debit Card made from PLA plant-based material

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The primary advantage of this product is its true 100% offset functionality combined with full transactional flexibility and zero ongoing fees, which outperforms standard transactional accounts. The main limitation is that it provides no benefit unless linked specifically to an eligible variable rate mortgage with the institution. Compared to similar offset structures at Big Five banks, which often bundle these accounts with high monthly package fees or multi-product requirements, this standalone fee-free option is highly competitive. It is best suited for mortgage holders with variable loans who maintain liquid savings and want to maximize interest reduction while retaining daily access to their funds.

📍 View official contacts for Gateway Bank

Gateway Bank

Edge Account

Rate: 0.01% - 4.75%

💰 Fees & Rates

Monthly account keeping fee: $0
Annual fee: $0
Visa Debit fees: $0

📋 Important Terms

Standard interest rate: 0.01% p.a. for balances up to $999.99, and 0.10% p.a. for balances of $1,000 and above
Bonus interest rate criteria: Must deposit at least $2,000 from an external source each calendar month (applies to balances up to $100,000)
Promotional interest rate criteria: Maximum rate of 4.75% p.a. is available until June 30, 2026, for new members or existing members with no current at-call deposit relationship who also meet the monthly $2,000 external deposit requirement
Balances exceeding $100,000 revert to the standard interest rate only
Optional overdraft credit limit up to $20,000 available subject to approval

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage of this product is the exceptionally high yield for an everyday transaction account, combined with zero ongoing fees and a strong ethical investment framework that explicitly avoids environmentally detrimental industries. The primary limitation is the strict qualification criteria required to trigger the maximum rate, including a substantial monthly external deposit and a hard cap on promotional benefits after June 30, 2026. Compared to transaction accounts offered by the Big Five retail institutions, which rarely provide meaningful interest and frequently impose monthly fees unless high minimum balances are kept, this account delivers significantly higher financial utility and transparency. It is best suited for eco-conscious individuals and active savers who can consistently route their primary income through the account to unlock the premium bonus tiers.

📍 View official contacts for Gateway Bank

Greater Bank

UItimate Access Account

Greater Bank

Access Account

Rate: 0.01%

Heritage Bank

Simply Access

Rate: 0.01%

Sum: $1

HSBC Bank

Day to Day Account

HSBC Bank

Everyday Global Account

Hume Bank

Essential account

ING Bank

Orange Everyday bank account

ME Bank

SpendME Everyday Transaction Account

MyState Bank

Glide

NAB

NAB Retirement Account

💰 Fees & Rates

Monthly account fee: 0 AUDATM fee at over 4000 ATMs across Australia: 0 AUDAustralian transaction fee: 0 AUDOverdrawn fee: 0 AUDNo minimum monthly deposit required

📋 Important Terms

Applicants must be over 55 years old and retiredAvailable to Australian residents for tax purposes onlyOnly available for individual applications (no joint accounts)Interest is calculated daily and paid quarterly based on credit balance tiersIncludes NAB Visa Debit card with NAB Defence and Visa Zero Liability protection

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The NAB Retirement Account provides a secure and cost-effective hub for retirees to manage their funds. The primary advantage is the tiered interest structure combined with a total lack of monthly service fees, allowing seniors to earn a return on every dollar. The main drawback is the strict eligibility criteria and the restriction to individual-only accounts. When compared to Westpac's 55+ and Retired account or ANZ's Pensioner Advantage, NAB's broad ATM network and fee-free transaction structure are highly favorable. This product is ideal for retirees over 55 who prioritize easy access to their money and a simple, no-fee banking environment.

📍 View official contacts for NAB

NAB

NAB Classic Banking account

💰 Fees & Rates

Monthly account fee: 0 AUDAustralian transaction fee: 0 AUDOverdrawn fee: 0 AUD (debit interest may apply)ATM fee at over 4000 ATMs across Australia: 0 AUDInternational transaction fee applies to standard card

📋 Important Terms

Includes choice between NAB Visa Debit ($0 monthly card fee) or NAB Platinum Visa Debit ($10 monthly card fee)NAB Goodies provides personalised cash back offers via the appDigital wallet support for immediate payments before card arrivalStandard card includes access to Visa Entertainment and NAB Defence protectionPlatinum version offers 0% international transaction fees and complimentary insurances

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The NAB Classic Banking account is a highly competitive transaction account within the Big Four, primarily due to its lack of monthly account fees and overdrawn fees. Its standout advantage is the "NAB Goodies" cashback feature and the rare option to upgrade to a Platinum debit card for travel benefits. The main disadvantage is that international transaction fees still apply to the basic card tier. Compared to Commonwealth Bank's Everyday Account or ANZ Access Advantage, NAB offers better value for those prone to occasional overdrawing. This account is best suited for everyday spenders who want a fee-free digital banking experience with integrated rewards.

📍 View official contacts for NAB

P&N Bank

P&N Budgeting Account

Rate: 0.01% - 0.05%

P&N Bank

P&N Transaction Account

Queensland Country Bank

All Access account

Rate: 0.01%

RACQ Bank

Everyday Account

Rural Bank

Everyday Account

St. George Bank

Complete Freedom Account

Suncorp Bank

Everyday Essentials Account

💰 Fees & Rates

No monthly account keeping fees.
No minimum balance or deposit requirements.
0% foreign currency conversion fee on online and overseas purchases.
Unlimited fee-free Suncorp Bank transactions.
Fee-free withdrawals at Suncorp Bank, atmx and major bank ATMs in Australia.
ATM operator fees apply when using non-partner ATMs.
No overdraft fees or interest if the account becomes overdrawn.

📋 Important Terms

Available to low- and no-income earners, concession card holders, or government benefit recipients.
Applicants must be at least 11 years old.
Cashback available through Feel Good Rewards on eligible Visa Debit purchases.
Includes overdraft prevention to reduce risk of negative balance.
Visa Debit card supports digital wallets such as Apple Pay and Google Pay.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The main advantage is the complete absence of fees combined with overdraft protection, making it highly accessible for financially vulnerable customers. The main drawback is the lack of interest earnings and limited premium features. Compared to entry-level accounts from RBC, TD, BMO, Scotiabank, and CIBC, this product is more inclusive and cost-effective, especially for low-income users, but does not offer bundled benefits or relationship perks. It is best suited for individuals seeking a simple, no-cost transaction account with basic functionality and spending control.

📍 View official contacts for Suncorp Bank

Suncorp Bank

Everyday Options Account

Rate: 0.01%

💰 Fees & Rates

No monthly account keeping fees.
No deposit requirements or minimum balance fees.
0% foreign currency conversion fee on online and overseas purchases.
Unlimited fee-free Suncorp Bank transfers between accounts.
Fee-free withdrawals at Suncorp Bank, atmx, and major bank ATMs in Australia.
ATM operator fees apply when using non-partner ATMs.

📋 Important Terms

Earn cashback through Feel Good Rewards when making eligible purchases with a Suncorp Bank Visa Debit card.
Ability to open up to 9 Sub-Accounts for budgeting and savings goals.
Interest rate is 0.01% p.a. on both main and sub-accounts.
Sub-Accounts allow bill payments via BPAY or direct debit.
Account can be opened online with digital ID verification.

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The key advantage is the combination of zero monthly fees and strong budgeting functionality through multiple sub-accounts, which is more flexible than many Big Five banks’ basic chequing accounts. The main drawback is the extremely low interest rate, making it unsuitable for saving purposes. Compared to RBC, TD, BMO, Scotiabank, and CIBC everyday accounts, this product stands out for fee simplicity and cashback features, but lacks premium perks or higher interest tiers. It is best suited for everyday users focused on spending control and fee minimization rather than earning interest.

📍 View official contacts for Suncorp Bank

Ubank

Spend account

Virgin Money

Virgin Money Go Account

Sum: $250,000

💰 Fees & Rates

Monthly Account Keeping Fee: Free
BPAY, Pay Someone, and Card Transactions: Free (merchants may charge separate fees)
Domestic ATM Withdrawals: Free from Virgin Money (ATM operators may charge their own fees)

📋 Important Terms

Welcome Offer: 5,000 Bonus Points for new customers who make 1 settled debit card purchase, direct debit, or BPAY payment within 30 days
Points Earning: 8 Standard Points per settled eligible debit card purchase, direct debit, or BPAY payment
Security: Visa Zero Liability Policy for unauthorized charges
Deposit Guarantee: Protected up to $250,000 by the Australian Government Financial Claims Scheme
Additional Features: Round Up tool to automate savings into Boost or Grow Saver accounts

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

The Virgin Money Go Account stands out as a highly competitive digital everyday banking product when compared to the standard "Big Five" (RBC, TD, BMO, Scotiabank, CIBC) basic checking accounts, which often require minimum balances to waive monthly fees. Its primary advantage is the robust reward ecosystem, allowing users to earn points on everyday transactions like BPAY and direct debits—categories rarely rewarded by traditional banks. The main disadvantage is the reliance on a digital-first infrastructure, which may not suit users requiring physical branch access for complex transactions. This account is best suited for tech-savvy Australian consumers who want a zero-fee transaction account that actively rewards their regular spending and bill payments.

📍 View official contacts for Virgin Money

Westpac Bank

Westpac Choice

💰 Fees & Rates

Monthly account-keeping fee: 5,00 AUD (waived for monthly deposits of 2000 AUD or more, for customers under 35, or for new online accounts for the first 12 months) Domestic ATM withdrawal fees: 0,00 AUD at Westpac and select partner ATMs Transactions and account enquiries: Unlimited at 0,00 AUD

📋 Important Terms

Age requirement: 14 years or older (special conditions apply for those under 14) Residency: Must have a fixed Australian residential address Promotional bonus: 50 AUD cashback when opening a Choice and eligible savings account together (between 1 February 2026 and 8 June 2026) and depositing at least 50 AUD within 10 days New customer rule: Bonus is restricted to those who have not held a Westpac account in the last 2 years Home loan link: Can be utilized as an offset account to reduce interest on eligible Westpac home loans

💡 Adviser’s Tip

Olesya Krasavtseva Analytic & Editor at Prostobank Consulting

Westpac Choice is a highly decorated transactional account, recently winning WeMoney's 2025 award for Best Quality. Its primary advantage is the industry-leading digital security suite, including a dynamic CVC that refreshes daily and the SafeBlock feature. The main disadvantage is the standard 5,00 AUD monthly fee, which applies if waiver conditions (like the 2000 AUD deposit threshold) aren't met. Compared to everyday accounts from Commonwealth Bank, NAB, and ANZ, Westpac offers a more robust ecosystem for younger users, particularly those aged 18-34 who can unlock high-interest savings pairings. This product is best suited for tech-savvy individuals and students who prioritize mobile banking utility and security features.

📍 View official contacts for Westpac Bank

Author: Prostobank Consulting

Video Guides

Watch our expert video reviews to navigate Australian banking with ease.

Contacts of companies offering the financial services:

AMP Bank

Address: 2-12 Macquarie St

Contact: 131 267

Web: www.amp.com.au

SWIFT: AMPBAU2S

Stock: AMP

ANZ Bank

Address: 833 Collins Street

Contact: 13-13-14

Web: www.anz.com

SWIFT: ANZBAU3M

Stock: ANZ

Australian Military Bank

Address: 45 Clarence St

Contact: 1300 13 23 28

Web: www.australianmilitarybank.com.au

SWIFT: AUMLAU21

Australian Mutual Bank

Address: 59 Buckingham St

Contact: 13 61 91

Web: australianmutual.bank

SWIFT: CUSCAU2S

Australian Mutual Bank

Address: 59 Buckingham St

Contact: 13 61 91

Web: australianmutual.bank

SWIFT: CUSCAU2S

Bank Australia

Address: 222 High Street

Contact: 132 888

Web: bankaust.com.au

SWIFT: CUSCAU2S

Bank Australia

Address: 222 High Street

Contact: 132 888

Web: bankaust.com.au

SWIFT: CUSCAU2S

Bank First

Address: 117 Camberwell Rd

Contact: 1 300 654 822

Web: www.bankfirst.com.au

Bank First

Address: 117 Camberwell Rd

Contact: 1 300 654 822

Web: www.bankfirst.com.au

Bank of Queensland (BOQ)

Address: 100 Skyring Terrace

Contact: 1300 55 72 72

Web: www.boq.com.au

SWIFT: QBANAU4B

Stock: BOQ

BankSA

Address: 97 King William St

Contact: 13 13 76

Web: www.banksa.com.au

SWIFT: SGBLAU2S

Stock: WBC

BankVic

Address: 107 Victoria St

Contact: 13 63 73

Web: bankvic.com.au

Bankwest

Address: 300 Murray St

Contact: 13 17 19

Web: www.bankwest.com.au

SWIFT: BKWAAU6P

Stock: CBA

Bendigo Bank

Address: The Bendigo Centre

Contact: 1 300 361 911

Web: www.bendigobank.com.au

SWIFT: BENDAU3B

Stock: BEN

Beyond Bank Australia

Address: 100 Waymouth St

Contact: 13 25 85

Web: www.beyondbank.com.au

SWIFT: CUSCAU2S

BOQ Specialist

Address: 255 George St

Contact: 1 300 160 160

Web: www.boqspecialist.com.au

SWIFT: QBANAU4B

Stock: BOQ

Commonwealth Bank (CBA)

Address: 1 Harbour St

Contact: 13 22 21

Web: www.commbank.com.au

SWIFT: CTBAAU2S

Stock: CBA

Defence Bank

Address: 31 Queen St

Contact: 1 800 033 139

Web: www.defencebank.com.au

Gateway Bank

Address: 68 York St

Contact: 1 300 302 474

Web: www.gatewaybank.com.au

SWIFT: ASLLAU2C

Gateway Bank

Address: 68 York St

Contact: 1 300 302 474

Web: www.gatewaybank.com.au

SWIFT: ASLLAU2C

Greater Bank

Address: 103 Tudor Street

Contact: 13 13 86

Web: www.greater.com.au

SWIFT: ASLLAU2CGBS

Greater Bank

Address: 103 Tudor Street

Contact: 13 13 86

Web: www.greater.com.au

SWIFT: ASLLAU2CGBS

Heritage Bank

Address: 400 Ruthven St

Contact: 13 14 22

Web: www.heritage.com.au

SWIFT: HBSLAU4T

HSBC Bank

Address: 100 Barangaroo Ave

Contact: 1 300 308 008

Web: www.hsbc.com.au

SWIFT: HSBCAU2S

Stock: HSBA (LON)

HSBC Bank

Address: 100 Barangaroo Ave

Contact: 1 300 308 008

Web: www.hsbc.com.au

SWIFT: HSBCAU2S

Stock: HSBA (LON)

Hume Bank

Address: 492 Olive St

Contact: 1 300 004 863

Web: www.humebank.com.au

SWIFT: CUSCAU2S

ING Bank

Address: 60 Margaret St

Contact: 13 34 64

Web: www.ing.com.au

SWIFT: INGBAU2S

Stock: INGA (AMS)

ME Bank

Address: 360 Elizabeth St

Contact: 13 15 63

Web: www.mebank.com.au

SWIFT: MEQBAU3M

Stock: BOQ

MyState Bank

Address: 137 Harrington St

Contact: 13 80 01

Web: mystate.com.au

SWIFT: MSBBAU3S

Stock: MYS

NAB

Address: 800 Bourke Street

Contact: 13 22 65

Web: www.nab.com.au

SWIFT: NATAAU33

Stock: NAB

NAB

Address: 800 Bourke Street

Contact: 13 22 65

Web: www.nab.com.au

SWIFT: NATAAU33

Stock: NAB

P&N Bank

Address: 556 Wellington St

Contact: 13 25 77

Web: www.pnbank.com.au

SWIFT: PNBLAU2P

P&N Bank

Address: 556 Wellington St

Contact: 13 25 77

Web: www.pnbank.com.au

SWIFT: PNBLAU2P

Queensland Country Bank

Address: 333 Ross River Rd

Contact: 1 800 075 078

Web: www.queenslandcountry.bank

SWIFT: QCCNAU41

RACQ Bank

Address: 2649 Logan Rd

Contact: 13 19 05

Web: www.racq.com.au

SWIFT: QTMBAU41

Rural Bank

Address: 80 Grenfell Street

Contact: 1 300 660 115

Web: www.ruralbank.com.au

SWIFT: BENDAU3B

Stock: BEN

St. George Bank

Address: 275 Kent Street

Contact: 13 33 30

Web: www.stgeorge.com.au

SWIFT: SGBLAU2S

Stock: WBC

Suncorp Bank

Address: 80 Ann Street

Contact: 13 11 55

Web: www.suncorpbank.com.au

SWIFT: METWAU4B

Stock: SUN

Suncorp Bank

Address: 80 Ann Street

Contact: 13 11 55

Web: www.suncorpbank.com.au

SWIFT: METWAU4B

Stock: SUN

Ubank

Address: 2 Carrington St

Contact: 13 30 80

Web: www.ubank.com.au

Stock: NAB

Virgin Money

Address: 100 Skyring Terrace

Contact: 13 81 51

Web: virginmoney.com.au

Stock: BOQ

Westpac Bank

Address: 275 Kent Street

Contact: 13 20 32

Web: www.westpac.com.au

SWIFT: WPACAU2S

Stock: WBC

Find bank, branch or ATM

Locate the nearest financial services, interactive maps, and contact details across Australia.

Amount, $	Rate, %	Accrued %, $
25,000	3.85%	963
25,000	3.90%	975
25,000	3.95%	988
60,000	4.00%	2,400
60,000	4.05%	2,430
60,000	4.10%	2,460
120,000	4.15%	4,980
120,000	4.20%	5,040
120,000	4.25%	5,100
240,000	4.30%	10,320
240,000	4.35%	10,440
240,000	4.40%	10,560