When you open an Australian bank account, the bank will issue you a debit card to use as a way to access your money. You can use your debit card to get cash out at ATMs, make purchases in stores and online and manage your money via the linked mobile banking app or Internet banking.
Almost every debit card in Australia will use either Visa or Mastercard, however this is just branding and there are no real differences between the two.
At Finder, we've been helping people compare debit cards for more than a decade. Here are some of the features you should look out for when comparing debit cards:
Some debit cards will charge ongoing fees. When comparing cards, first check what fees the debit card charges and try to find one with lower fees (or no fees at all).
Common fees include monthly account keeping fees, ATM fees and overdraft fees (which is a fee you'll pay if you let your account go into negative balance).
If you're planning to use your debit card overseas it's a good idea to choose one with no international transaction fees and, if available, no overseas ATM fees.
You may even want to apply for a separate debit card that charges no foreign transaction fees that you use exclusively for travelling.
If you withdraw cash a lot look for a debit card that has no local ATM fees, or has free access to a large number of ATMs via its ATM network.
Most new debit cards today enable you to make tap-and-go purchases without having to swipe your card or enter a pin. This feature lets you pay for items, usually costing $100 or less, by just holding your card to the reader.
These days, almost all debit cards can be managed via a mobile banking app, so you can check your account easily anywhere at anytime via your phone.
It can be useful to find a bank that lets you change your PIN, put a block on your card or even apply for a new card straight from its app to save you having to go into a branch or call the bank directly.
As you're probably aware, Visa and Mastercard are the two major payment processing companies. The vast majority of debit cards will be issued by one of these providers.
Choosing either a Visa or Mastercard debit card can give you more flexibility and benefits and are supported all around the world.
Some bank accounts will occasionally have special offers like a cash bonus when you open an account, a cashback offer when you shop or the ability to earn points and discounts.
Just make sure the card doesn't charge you fees that outweigh any benefits you get from having the card.
A debit card lets you use the money that's available in your bank account. You can use the card to pay for things in stores, cafes and supermarkets by inserting the card into the EFTPOS machine and entering in your 4-digit PIN.
Most debit cards these days also come with contactless payment functionality, meaning you can simply tap or hover your card over the EFTPOS terminal to make payments without having to enter your PIN.
When you've made a payment using your debit card it will often display as 'pending' in your mobile banking app transaction history until it clears with the merchant (this can happen instantly or within a couple of days).
If you don't have enough money in your 'available funds' you won't be able to make payments with your card, it'll be declined on the spot.
You can use a debit card for pretty much everything these days. This is not an exhaustive list, but here are some common examples.
A debit card is linked to your transaction account, so the money available for you to spend using your debit card is only what you actually have in your bank account.
A credit card is lets you access money borrowed from the bank (up to your credit limit), which you need to pay back in full each month or you'll be charged interest on the amount you've spent.
With a debit card, you aren't charged interest on the money because it's not borrowed money - it's your money.
Most debit cards are fairly similar, however some do have particular features that make them better suited to different people.
Debit cards are very safe, and here are a few reasons why:
One of the biggest risks with a debit card is sharing your PIN or losing your card and not locking it in time. According to Moneysmart, if someone makes unauthorised transactions on your card you're less likely to have the bank reimburse you if you didn't keep your PIN secret, accidentally left your card in an ATM or delayed telling your bank that your card was lost or stolen.
It's easy and quick to apply for a debit card - all you need to do is complete the online application form on the bank's site. As debit cards come attached to an everyday transaction account, when you complete the application you'll be opening a new transaction account which will come with your debit card.
You'll need to meet some basic eligibility criteria to get a debit card in Australia.
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.
Explore how the typical Australian uses their debit card in our detailed guide to debit card statistics.
If your bank account has been locked, here’s what you need to do to access your funds.
You can meet the 100 points of ID requirement when opening a bank account by showing your passport, birth certificate or driver's license. If you don't have these, there are a few other things you can use as ID.
Debit card declined? Here are 9 of the most common reasons for your debit card declining and how to fix it.
A travel debit card is just a regular Australian debit card with less international fees an charges, making it a great option to use overseas. See a range of debit cards suited for travel in this guide.
Now is the best time to start looking at the new bank account offers and promotions available. There is fierce competition between banks for your business so you should take advantage of this opportunity and get yourself a deal.
International transaction fees can add up to a lot of wasted money. These debit cards are great for travelling and online shopping and will save you money by waiving this annoying fee.
Want to withdraw cash without your card? Learn what cardless cash options are offered with NAB, ANZ, Westpac and CBA.
The best bank account will help you manage your everyday spending with low fees and easy access to your money. Check out our Top Picks curated by experts.
hi
Is there a debit/master card where I can have multi cards (a card for my partner and myself) and can earn Qantas points or rewards points?
Thanks
Hi there!
Thank you for contacting Finder.
Regarding your question, thankfully there. We have a list of credit cards with free additional cardholders. Please go to that page and you’ll find credit cards that will also allow you to earn Qantas Points and/or other rewards points.
I recommend that you check the details of the credit card you’re interested in, its eligibility criteria as well as the Product Disclosure Statements/Terms and Conditions before you apply.
Also if you can, contact first the issuing bank and discuss your options and chances of approval before you send anything final for your application. Just apply for one credit card at a time and ensure your eligibility before submitting your final application. This way you can avoid credit enquiries on your file.
I hope this helps.
Cheers,
Danielle
Are there any banks issuing access cards for everyday transactions that do not have the PayWave or contactless pay attached? I have been burnt already by Pay N Go type card and it’s very inconvenient. I don’t want it but my current bank said it can’t issue any card now without this as it’s set by Visa!
Hi Mary!
Mastercard Paypass and Visa Paywave is an in-built credit and debit card technology that lets you make contactless payments. You can tap your card against the contactless reader and purchases under $100 are processed in seconds. There’s no need to enter your PIN. This also helps prevent card fraud.
It will be hard pressed to find a debit card that is not contactless. However, there may be travel cards that don’t have this feature. You can find them in our page that lists travel money cards. This page also includes the full-guide about how this may be an alternative.
Hope this helps.
Cheers,
Jonathan
Pl advise best debit card for use overseas with zero or min transaction and or other fees. Prefer ANZ, CBA or NAB but would like comparison of other inexpensive cards.
Impending overseas trip to Asia including South Korea & Japan.
Thanks
Hi Kevrub,
Thanks for your question.
If you are travelling to Japan and other countries in Asia, you may want to compare your debit card options in Southeast Asia. We also have useful travel money tips on the same page.
Cheers,
Anndy
I don’t have a drivers license and was hoping my DSP health care card from centrelink would suffice ? Or a NZ issued passport ? Thank you for your help ,
Hi Anton,
Thanks for your question.
If you are looking to apply for a debit card, the requirements may differ among the different providers. For most debit cards, you can use any two forms of the following identifications:
– Driver’s licence
– Passport
– Medicare card
– Birth certificate
You can check the details of the requirements and eligibility criteria to apply for a particular card by clicking its name on our comparison table above.
To check the card’s terms and conditions and open an account, you may click the ‘open’ button.
Cheers,
Anndy
Does anz ATM machines have cardless withdrawal
Hi Kevin,
Thanks for your question.
Currently, only Commonwealth Bank, Westpac, and St. George have cardless cash withdrawal options.
Please read our cardless cash guide to learn more about how withdrawals work.
Cheers,
Anndy