Transaction Accounts

Please see a wide selection of Transaction Accounts on offer for Australian customers. You can use the user-friendly table to compare essential factors of different Transactions Accounts including the fees, rates and if there is a minimum deposit. Check to see if a transaction account is suited to you by looking at the possibilities for withdrawal, Direct Debit, Bpay and so on. What are the fees and is there a flat monthly fee? Is interest paid and if so, how much? These are all areas you might like to consider before going for one of these transaction bank accounts. Before you choose a particular transaction account make sure that you read the terms and conditions of each account so that you fully understand the rules of the account and your financial obligations.

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

COMPANYACCOUNT

ACCOUNT

Account name

TYPE

TYPE

Account type

INTEREST APY

INTEREST APE

Annual Equivalent Rate is the effective annual interest rate

INTEREST GROSS

INTEREST GROSS

Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations

PAID

PAID

How often interest is paid on account

ACCESS

ACCESS

How account can be accessed

OD RATE

OD RATE

Cost of overdraft

BANKING CHARGES

BANKING CHARGES

Additional banking charges

SERVICES CHARGES

SERVICES CHARGES

Charges for extra services

FEATURES

FEATURES

Account features

MORE INFO

ING DIRECT Orange Everyday Account
ING DIRECT Orange Everyday Account

ING DIRECT Orange Everyday AccountStandard Account0%0%MonthlyOnline, Branch, ATM, Tel10%Expedited Bank Cheque request - $11.00$0Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

Transacting on your Orange Everyday 

 1. Making deposits 
2. Making withdrawals 
3. Statement of account 
4. Cancelling or changing instructions 
5. The nitty gritty of using an Interactive Service or Visa Debit Card Your security and Code

ING DIRECT Orange Everyday Account
Save on everyday fees with ING DIRECT’s Everyday Bank Account. Any ATM in Australia is fee-free when you withdraw $200 or more. No monthly account fees. 24/7 Australian contact centre. Plus get 5% cash back on Visa payWave purchases under $100 for the first 6 months. Offer available for a limited time for new Orange Everyday customers. Simply sign up online right now, the sooner you start the faster you save on everyday fees. Consider the Terms and Conditions. Issued by ING Bank (Australia) Limited. DETAIL INFORMATION >>Services

Services

1. Everyday Current Account


Advantages

Advantages

Save on everyday fees with the award winning Orange Everyday Account 


You shouldn’t have to pay for your money and with an Orange Everyday account from ING DIRECT you don’t have to. 

1. Withdraw $200 or more fee-free from any ATM in Australia 
2. No monthly account keeping fees 
3. No minimum balance 
4. Low international ATM withdrawal fees 
5. 24/7 Australian based customer service 

Simply apply online right now, the sooner you start the faster you save on everyday fees. 

Consider the Terms and Conditions. Issued by ING Bank (Australia) Limited.


Disadvantages

Disadvantages

1. Expedited Bank Cheque request - $11.00

2. voucher request - $10.00 
3. Replacement Card (outside of australia) - $50.00 
4. Overdraft interest per annum 10.00% 
5. International Purchase 2.5% of txn amount 
6. International atM Withdrawal $2.50 
7. Orange Everyday does not pay interest

St.George Complete Freedom Account
St.George Complete Freedom Account

St.George Complete Freedom AccountTransaction Account0.01 % p.a.0.01 % p.a.MonthlyOnline, ATM, Branches, EFTPOS, BPAYAvailableLate Bill Payments$5.00Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

1. 10 free SMS Alerts per month alert you to balance or transaction information
2. Shop securely with your own money, online, at home, over the phone or overseas wherever Visa is accepted with your Visa Debit Card
3. Unlimited access to over 2,700 St.George, Westpac and BankSA branded ATMs around Australia.

St.George Complete Freedom Account
A full-service account offering unlimited branch, cheque and electronic transactions, plus the benefits of a Visa Debit Card for 24/7† access to your money anywhere in the world for a low, flat monthly account service fee (does not apply in any month where a customer deposits at least $2,000 by the last business day of the month eg their salary or has their St.George home loan repayment automatically deducted from bank accounts). Read all of their terms and conditions before you apply so that you understand what you are purchasing. DETAIL INFORMATION >>Services

Services

Unlimited access to over 2,700 St.George, Westpac and BankSA branded ATMs around Australia.


Advantages

Advantages

1. Visa Debit Card available to customers who are over 18 and have an Australian residential address
2. Unlimited^ everyday transactions
3. St.George Internet and Phone Banking (including Bpay®)
4. Over 2,800 St.George, Westpac and BankSA branded ATMs
5. 10 free SMS Alerts included each month#
6. Worldwide ATM access
7. No minimum monthly balance required
8. Flat account service fee of just $5 a month
9. Monthly account service fee does not apply when a customer:
10. Deposits at least $2,000 by the last business day of a month~ into their Complete Freedom Account; or
11. Makes their St.George home loan repayments by automatic transfer from their Complete Freedom Account.


Disadvantages

Disadvantages

1. If your monthly deposits fall below $2000 a month the $5 monthly account service fee will apply.

Bank of Melbourne SENSE
Bank of Melbourne SENSE

Bank of Melbourne SENSETransaction Account3.10% p.a. on SENSE Savings3.10%DailyOnline, branch, SMSAvailablePeriodical payment - $4$0 ($5 if min monthly deposit <$2000)Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

1. Each time we process a purchase made from your SENSE Everyday Account using your Visa Debit Card, FreedomCard, Maestro/Cirrus ATM Card or BPAY® transaction, and that amount is not a whole dollar amount, we round up the transaction amount to the next dollar and transfer the amount of the rounding to your SENSE Savings Account.
2. Your savings target is set for funds in your SENSE Savings Account. You will contribute to your savings target automatically by rounding amounts. To save even faster, you can also set up a regular transfer from your SENSE Everyday Account to your SENSE Savings Account.
3. Electronic transactions are assigned to a category based on information provided by third parties. We’ve assigned 10 expense categories: Cash, Home Expenses, Daily Living, Health & Education, Transportation, Leisure, Insurance & Super, Transfers, Other.

Bank of Melbourne SENSE
Make sense of your spending - One account for everyday banking. Another for saving. All on the one statement.Bank of Melbourne SENSE is two accounts working together, so you can access your money when you want, and save at the same time. You’ll pay no account service fees when you deposit at least $2,000 a month, such as your salary, into your SENSE Everyday account. Please make sure that you read all of their terms and conditions in detail before you apply so that you thoroughly understand what you are purchasing. DETAIL INFORMATION >>Services

Services

1. Flexible - 2 linked accounts – SENSE Everyday transaction account and SENSE Savings
2. Great rate - Earn 3.85% p.a. on SENSE Savings
3. Track savings and spending - One easy statement to set savings goals and track spending history
4. Visa Debit Card -Shop securely with a Visa Debit card at home, online or overseas using money from your SENSE account
5. Convenient access -24/7 access at over 2950 Bank of Melbourne, Westpac, StGeorge and BankSA ATMs and via Phone and Internet Banking
6. Compare accounts - Compare transaction accounts and Compare savings accounts


Advantages

Advantages

1. Make sense of your spending - One account for everyday banking. Another for saving. All on the one statement.
2. See where you're spending your money and what you're saving - One easy-to-read statement, complete with helpful colour spending charts, groups your everyday transactions into ten pre-determined expense categories
3. Turn your shopping into saving. Purchases made using your Visa Debit Card are rounded up to the next dollar. This rounded amount is automatically transferred to your SENSE Savings account. It’s just like a virtual coin jar, with no monthly service fee and a high interest rate.
4. Applying online is simple! It will take up to 10 minutes - All you will need to supply is your contact details, such as address, phone number and an email address. You don’t have to be an existing Bank of Melbourne customer to complete an online application.


Disadvantages

Disadvantages

1. If you deposit less then $2000 a month in to your SENSE account then you will have to pay a monthly account fee of $5
2. You are not eligible for a SENSE account if you are not a permanent resident of Australia

St.George Express Freedom Account
St.George Express Freedom Account

Express Freedom AccountTransaction Account0.01 % p.a.0.01 % p.a.MonthlyOnline, Tel, ATM, Branches, EFTPOS, BPAYAvailableExtra services$3.00Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

A low cost account ideal for electronic banking with a Visa Debit Card

St.George Express Freedom Account
St.George Express Freedom Account offers you low-cost online bank accounts for customers who don’t want to transact via the branch network or use cheques. You have unlimited^ access to Internet and Phone Banking, with a Visa Debit Card for electronic purchases. Plus the monthly account service fee does not apply in any month where a customer deposits a minimum of $1,000 by the last business day of the month~ eg their salary. If you have any questions contact their customer support team. Click for information. DETAIL INFORMATION >>Services

Services

1. Unlimited St.George /Westpac/BankSA branded ATMs in Australia, EFTPOS, direct debit, Bank@Post and Internet and Phone Banking transactions
2. Low flat monthly fee of $3
3. Chequebook available upon request
4. Pay as you go branch and cheque services


Advantages

Advantages

1. Visa Debit Card available to customers who are over 18 and have an Australian residential address
2. Unlimited^ everyday transactions
3. St.George Internet and Phone Banking (including Bpay®)
4. Over 2,800 St.George, Westpac and BankSA branded ATMs
5. 10 free SMS Alerts included each month#
6. Worldwide ATM access
7. No minimum monthly balance required
8. Flat account service fee of just $5 a month
9. Monthly account service fee does not apply when a customer:
10. Deposits at least $2,000 by the last business day of a month~ into their Complete Freedom Account; or
11. Makes their St.George home loan repayments by automatic transfer from their Complete Freedom Account.


Disadvantages

Disadvantages

1. Daily limits on cash withdrawals, and purchases

Bankwest Zero Transaction Account
Bankwest Zero Transaction Account

Bankwest Zero Transaction AccountTransaction Account0%0%MonthlyOnline, Branch, ATM, TelAvailableNo monthly account fees when you deposit at least $2,000 per month$0Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

This account offers the following optional facilities:
1. Cheque Access;
2. Periodical Payments;
3. Direct Debit Facility;
4. Bankwest Online Banking;
5. Phone Banking;
6. Bankwest Debit Cards;
7. Debit MasterCard (only available to Australian Citizens, Temporary or Permanent Residents over 18 with an Australian residential address);
8. Overdraft Facility; and
9. Mortgage Saver Facility.

Bankwest Zero Transaction Account
Get a little back with the everyday account for spenders. The Bankwest Zero Account pays your ATM fees at ANZ, NAB and Westpac. Plus, you'll also get access to Bankwest and CBA ATMs free. That means whenever and wherever you choose to spend, you'll always have fee-free, convenient access to your everyday funds at over 10,000 ATMs nationally! Even better, you also won't pay any monthly account fees. Get a little back from your banking and switch your everyday account to Zero today. Click here for information. DETAIL INFORMATION >>Services

Services

1. free access to all Bankwest, CBA, Westpac, NAB and ANZ branded ATMs Australia wide^
2. no monthly account fees
3. free unlimited electronic and counter transactions
4. Debit MasterCard access
5. optional cheque book
6. online and phone banking


Advantages

Advantages

1. No monthly account fees when you deposit at least $2,000 per month (e.g. salary)
2. Zero ATM fees when you use any ANZ, Westpac, NAB, CBA or Bankwest branded ATMs (over 10,000 ATMs Australia-wide)^
3. Unlimited electronic and cash withdrawals at the counter
4. Optional Debit MasterCard® access
5. Optional cheque book access
6. 24/7 access to online and phone banking


Disadvantages

Disadvantages

1. You must deposit a minimum of $2,000 per month (e.g. your salary) in to your account in order for it to be free.

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

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Compare Transaction Accounts

Transaction accounts for your daily finances

A transaction account gives you easy access and managing of your money

Who can apply for a transaction account?

To open a transaction account you probably have to be a minimum of 18 years old and a full Australian resident.

How does one open a transaction account?

It is possible to open a transaction account at a branch of the bank or building society, but it can be done comfortably online as well. You will have to provide documents to prove your identity and your full address.

How much does a transaction account cost?

The fees for a transaction account vary from bank to bank and it is worth checking different account providers to see what they charge. Sometimes this can be a monthly maintenance fee, sometimes there will be transaction fees, or you will be charged when you withdraw money from a cash machine.

How to manage a transaction account?

To manage an account is easily done online, but it always is important to check your statements to protect yourself from fraud. It is possible to access your money from around the world, make payments and move money around from the comfort of your own chair.

How to find the best transaction account

On the chart above you will see a list of transaction accounts on which your money will be safe, and which you can open online in a few easy steps. Compare their terms and conditions, check their fees and account limits and read the small print before you apply.

Does one need a savings account as well?

On a transaction account you probably will receive interest payments if you are in credit, but this will not be much. If you want to save money and make it grow, then it is worth putting some money on to a savings account regularly and take advantage of the much higher interest you will be paid there.

Transaction Accounts Information

Money Area Transaction Accounts Information Transaction Accounts Reviews Savings Accounts Information Saving Accounts Reviews Foreign Exchange Information Private Foreign Exchange Reviews Personal Loans Reviews Unsecured Loans Reviews Unsecured Loans Information Secured Loans Reviews Secured Loans Information Credit Cards Information Credit Cards Reviews Debt Management Information Debt Management Reviews Credit Reports Information Credit Reports Reviews Identity Theft Protection Information Identity Theft Protection Reviews Legal Services Information Legal Services Reviews Latest News for Transaction Account Whats New for Transaction Account? Advice Articles for Transaction Account Search Website for Transaction Account Search News for Transaction Account Economic Calendar Interest Rates

Transaction Accounts Gallery

ANZ Access Advantage with Visa DebitANZ Access Advantage with Visa Debit Transaction AccountANZ Access Advantage with Visa DebitANZ Access Advantage with Visa Debit Transaction AccountANZ Access SelectANZ Access Select Transaction AccountBank of Melbourne SENSEBank of Melbourne SENSE Transaction AccountBankwest Hero AccountBankwest Hero Account Transaction AccountBankwest Zero Transaction AccountBankwest Zero Transaction Account Transaction AccountHSBC Day to Day AccountHSBC Day to Day Account Transaction AccountING DIRECT Orange Everyday AccountING DIRECT Orange Everyday Account Transaction AccountNAB Classic BankingNAB Classic Banking Transaction AccountNAB Gold BankingNAB Gold Banking Transaction AccountSt.George Complete Freedom AccountSt.George Complete Freedom Account Transaction AccountSt.George Express Freedom AccountSt.George Express Freedom Account Transaction AccountSuncorp AUSuncorp AU Transaction AccountSuncorp Bank Term DepositsSuncorp Bank Term Deposits Transaction Account

Transaction Account Reviews

Bank of Melbourne SENSE Transaction Account ReviewBank of Melbourne SENSE Transaction Account ReviewANZ Access Advantage with Visa Debit Transaction Account ReviewSt.George Complete Freedom Account Transaction Account ReviewBankwest Hero Account Transaction Account ReviewSuncorp Bank Term Deposits Transaction Account ReviewSuncorp AU Transaction Account ReviewSt.George Express Freedom Account Transaction Account ReviewANZ Access Select Transaction Account ReviewCitibank AU - Citibank Online Saver Transaction Account Review

Transaction Accounts - Latest News News and Charts

Green Reforms may cost Banks over $2bn

25 November 2010
Which Way To Pay

The Australian Green party wants the Government to force Australian lenders to offer fee free transaction accounts, and to limit interest rate changes to simply tracking the central bank’s rate decisions for the next couple of years.

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