How the NPP will revolutionise personal banking
Ever wanted to pay your bill with emojis? The New Payments Platform is slowly rolling out across Australia, and it’s going to revolutionise the way we bank.
CashbackGet $40 cash when you open a new account by 31 March 2020 and deposit $500 within 30 days. Only for new customers.
The Xinja bank account is an everyday transaction account with zero ATM fees, zero account fees and no currency conversion fees.
Xinja Bank Account
Over 3,000 Westpac Group ATMs
Minimum opening amount
Internet banking Facility
Min. deposit for fee free
Min. age restrictions
14 years old
Max. age restrictions
Free counter transactions
Daily ATM withdrawal limit
Joint application available
Interest Calculation Frequency
Interest payment frequency
Min. balance to activate rate
Account Keeping Fees
Cheque dishonour fee
Internet transaction fee
Counter deposit fee
Counter withdrawal fee
Foreign transaction fee
Phone transaction fee
ATM withdrawal fee
Overseas eftpos fee
Network bank atm fee waiver
Overseas atm withdrawal fee
Other bank atm withdrawal fee
Over 13,000 ATMs customers can use in Australia with no ATM fees
Cashback$100 Bonus for new HSBC customers and 2% cashback (upto AUD 50/month) on tap and pay (payWave, Apple Pay and Google Pay) for purchases under $100.
You can close a bank account with pending transactions. But after the account is closed, any incoming transactions will be declined by your (old) bank.
The best way to ensure this doesn’t occur is to either wait to close your account until all pending transactions are complete, or contact the creditor and supply them with alternate bank details.
If you’re unsure whether you have any scheduled transactions, you can speak to a banking representative over the phone or via online support.
In most cases, your bank withholds the amount owing for pending transactions (such as online purchases).
Because the pending amount is deducted from your bank balance, you can close your bank account and the purchase will be honoured.
Deleting your bank account from PayPal is a simple three-step process:
You don’t need a bank account to send or receive money through PayPal. However, you do need a bank account if you want to withdraw money from your PayPal account.
Opening a bank account online is a simple process and only takes between five to 10 minutes to complete. To get started you will need a computer or smartphone with internet access.
Information to have available when you’re ready to apply is:
In some cases, you might be asked to provide employment details. If you’re not able to verify your identity online, most financial institutions let you provide this in the branch at a later date.
There are some types of bank account that you can apply for only in a branch. However, most bank accounts can be applied for conveniently online.
Once you’ve compared bank accounts and found the right one, the process of opening a bank account online is quite simple and can be done in around 10 minutes.
To set up a bank account online, you’ll need to prove your identity and provide an approved form of ID as well as your tax file number (TFN).
If you’re a new customer of the bank, you’ll need to verify your identity and potentially upload documents before you can complete your online application.
Once your ID has been verified and you’ve set up your bank account online, you should receive your bank cards in the mail along with your PIN and any other account details.
Transferring money from PayPal to an Australian bank account is simple. Just follow these three steps:
The money will take three to seven business days to reach your bank account.
Once you’ve made the transfer request, it can’t be withdrawn.