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.
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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.
Can I use visa debit to transfer English pounds to a nominated account in the U.K.?
Hi Raymond,
You can send money to a UK account using an Australian bank account, however it’ll need to be converted into GBP in the process unless you have a multi currency account that holds GBP.
Thanks,
Alison
I have put an incorrect figure into my debit card number. How do I correct it
Thank you
Hi Margaret,
Is this in reference to an application? You can resubmit your details or reach out to the provider directly to advise them of the needed correction.
Thanks,
Alison
My partner and I each have two private accounts, one with a debit card facility, and we share a joint account which also has a debit card facility. We are looking for a provider that will allow us to open five more joint accounts with debit card facilities for each. At the moment, our provider only allows a single joint account with a debit facility. Do you know of a provider where we can have more than one joint account with debit cards?
Kind Regards,
Brian
Hi Brian,
Thank you for getting in touch with Finder.
You may refer to our list of joint bank accounts. These accounts are all able to be opened in more than one name. You can use our comparison table to help you find the account that suits you. It is still best for you to contact your preferred bank to check if you can open up to 5 joint accounts with a debit card facility. When you are ready, please click on the ‘Go to site’ button to proceed with your online application. Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Do any debit cards offer membership to rewards programs?
Hi Rowan,
Thank you for reaching out.
Yes, there are bank accounts and debit cards that offer a rewards program depending on the type of rewards you feel will be beneficial for you. There are rewards such as points to dollar ratio, bonus points, cashback offers, and prizes.
You can head to our list of rewards debit cards to compare your options. Please use our comparison table to help you find the card that suits you. When you are ready, press the ‘Go to site’ button to apply.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this helps! 😊
Kind Regards,
Mai
do you offer the cards for people out AU?
Hi Ahmed,
Thanks for leaving a question on finder.
finder caters to users who live in Australia, Canada, New Zealand, UK and USA. If you are not from these countries, unfortunately, you will have to check with your local banks to see what offers they have available for you.
Cheers,
Joel