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$6
Monthly
0.01%
Based on your details, you can compare and save on the following bank accounts
Pros and Cons
Pros and Cons
- App banking available
- Apple Pay, Google Pay, Samsung Pay available
- 0.01% interest applies
- Send and receive funds with New Payments Platform, eg. PayID
- $3 Overseas ATM Withdrawal Fee
Features and Fees
Account Details
Minimum opening amount $0 | Min. age restrictions N/A |
Minimum balance | Max. age restrictions N/A |
Interest Calculation Frequency | Interest payment frequency |
Features
App | Linked Account |
Npp | Joint application available |
Free International Account Transfer | Foreign Currency |
Methods of Access
Internet Banking | ATM access |
Phone Banking | EFTPOS Facility |
Branch Access | Cheque services |
Fee Details
Account Keeping Fees $6 Monthly | Min. deposit for fee free $0 |
ATM & EFTPOS Fees
ATM withdrawal fee | Other bank atm withdrawal fee |
Daily ATM withdrawal limit $0 | EFTPOS Fee |
Overseas fees
Overseas atm withdrawal fee $3 | Overseas eftpos fee |
Foreign transaction fee N/A |
Other transaction fees
Phone transaction fee | Internet transaction fee |
Counter withdrawal fee $2 | Free counter transactions |
Counter deposit fee $2 | Cheque fee |
Cheque dishonour fee |
Electronic Wallet Service
Pros and Cons
- App banking available
- Apple Pay, Google Pay, Samsung Pay available
- 0.01% interest applies
- Send and receive funds with New Payments Platform, eg. PayID
- $3 Overseas ATM Withdrawal Fee
Account Details
Minimum opening amount $0 | Min. age restrictions N/A |
Minimum balance | Max. age restrictions N/A |
Interest Calculation Frequency | Interest payment frequency |
Features
App | Linked Account |
Npp | Joint application available |
Free International Account Transfer | Foreign Currency |
Methods of Access
Internet Banking | ATM access |
Phone Banking | EFTPOS Facility |
Branch Access | Cheque services |
Fee Details
Account Keeping Fees $6 Monthly | Min. deposit for fee free $0 |
ATM & EFTPOS Fees
ATM withdrawal fee | Other bank atm withdrawal fee |
Daily ATM withdrawal limit $0 | EFTPOS Fee |
Overseas fees
Overseas atm withdrawal fee $3 | Overseas eftpos fee |
Foreign transaction fee N/A |
Other transaction fees
Phone transaction fee | Internet transaction fee |
Counter withdrawal fee $2 | Free counter transactions |
Counter deposit fee $2 | Cheque fee |
Cheque dishonour fee |
Electronic Wallet Service
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FAQs
Do you need a bank account to sell on eBay?
You don’t need a bank account to sell on eBay. But if you don’t have a bank account, you must provide either a credit card or debit card.
Can I start a bank account online?
Yes, most lenders that operate in Australia will let you set up a bank account online. The process is usually simple and takes five to 10 minutes. You will probably need to provide a passport or birth certificate, as well as a driver’s licence, Medicare card or another form of secondary identification. Requirements differ from lender to lender, so some institutions might ask for more or different forms of ID.
What do I need to open a company bank account?
To open a company bank account, you will probably have to provide 100 points of ID, an ABN and an ACN. You will probably have to provide the details of all signatories as well.
How do you deposit change into your bank account?
One way to deposit change into your bank account is to visit a branch. Many lenders will also allow you to deposit your change through one of their ATMs.
Can I have a PayPal account without a bank account?
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.
Can you get a payday loan without a bank account?
Yes. Some payday lenders are willing to transfer loans to prepaid debit cards instead of bank accounts.
How can I deposit cash into my bank account?
The traditional way to deposit cash into your bank account is to go to a branch and give it to a teller. These days, many banks will allow you to make deposits through an ATM as well.
How can you cash a cheque without a bank account?
You can cash a cheque without a bank account if you visit the bank that issued the cheque. For example, if somebody sends you a cheque from Bank X (as written on the cheque) and you visit Bank X, it’s likely that Bank X will let you cash the cheque – provided the person who wrote the cheque has enough money in their account. Bank X would probably charge you a fee for the service.
How do you open a bank account under 18?
If you’re under 18 and you want to open an Australian bank account, you will need your passport or birth certificate. (Some lenders might require just a Medicare card or driver’s licence.) You can apply online or at a branch. If you’re 13 or under, you will probably need a parent to accompany you to a branch.
Can you open a bank account at 16?
Yes, you can open a bank account at 16, or even younger. If you’re 13 or under, you will probably need a parent to accompany you to a branch.
How can I wire money to a bank account?
You can wire money to an Australian bank account either through your own bank or by using a money transfer company such as Western Union or MoneyGram. Either way, you’ll need the other person’s name, BSB number and account number. If you use a money transfer company, you might also need to provide the recipient’s address for large payments.
Can foreigners open bank accounts in Australia?
Many Australian lenders allow foreigners to open bank accounts in Australia. Often, this can be done before you arrive in the country – with no Australian address required. When you get to Australia, you can pick up your debit card, using your passport as identification.
Which bank is best for business accounts?
Unfortunately, there’s no definitive answer to the question of which bank is best for business accounts. That’s because ‘best’ will differ from customer to customer, depending on their unique circumstances. These include not only your company’s financial position, but also its size, its age and the sector in which it operates. Another factor to consider is what features you want in a bank account. Your business may require different features than another business; and your business may require different features tomorrow than it does today.
The best thing to do is to thoroughly research the market before opening a business account. And when you do open an account, you should reassess your options every year or two, because the market moves quickly. A particular bank might offer the best account today, but be surpassed by one or several rivals tomorrow.
Can I find my bank account number online?
Yes, you can find your bank account number by logging into your online banking and clicking on the relevant account.
Do you need a bank account to get a credit card?
To get a credit card, you need to show proof of income, which will almost certainly require you to have a bank account.
How can I check my bank account balance online?
Checking your bank account balance online is a simple process. Once you’ve logged in to your online banking, clock on the relevant account and the balance should be visible.
Can I link a bank account to Paypal?
Paypal is a safe and convenient way to pay online without the need to share your financial details. You can send and receive money or accept credit and debit cards as a seller using Paypal.
It’s easy to link your bank account to a Paypal account and start making transactions within minutes.
To start, you first need a Paypal account (it’s free to join). When setting up your Paypal account, you will be prompted to link a credit card or bank account (or both if you wish).
PayPal works without a balance; you can use Paypal to shop or send money when your balance is zero.
When your Paypal balance is zero, Paypal will ask you to choose your preferred payment method at the checkout.
This could be either your linked bank account or credit card. Your bank details can be updated if you change banks or credit cards.
Can you deposit money into somebody else's bank account?
One of the easiest banking tasks in the world is depositing money. You can even deposit money into someone else’s bank account if you wish.
The basic information you need to deposit money into a third-party bank account is:
- Payee’s name
- Bank, building society or credit union (though this isn’t necessary)
- BSB (or bank code, which is the branch identifier)
- Account number
Including the name of the financial institution isn’t necessary – particularly with online banking – because the BSB will identify this for you.
A handy tip is to record yourself (or add a personal message) in the transaction description or reference. This will show up on the recipients account, letting them know who’s paid them the money.
How do you transfer money from PayPal to a bank account?
Transferring money from PayPal to an Australian bank account is simple. Just follow these three steps:
- Go to your Wallet
- Click ‘Transfer Money’
- Follow the instructions
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.
How do I open a bank account if I'm under 18?
The good news for savvy young folks like you wanting to take charge of your finances is that there are many bank accounts available for under-18s.
For bank accounts that require you to be 18 or older, you’ll have to rope in a parent or guardian to open the account for you.
Otherwise, you can apply by yourself online or at the branch of the bank, credit union or building society that has the account you would like to open.
If applying online, you might be asked for a form of identification. For under-18s, this could be a Medicare card you’re listed on, your birth certificate and/or your current home address.
In most cases, you can verify your identity online (at the time of applying) or at the branch afterwards.