Do fee-free bank accounts earn interest?

No, typically bank accounts don't pay any interest. If you're looking for an account that pays interest, a savings account would be better suited instead.

Do savings accounts charge fees?

No, savings accounts don't charge fees as they're not designed for making transactions and don't come with debit card access.

Are there fees to use my debit card online?

Most bank accounts won't charge fees for making online purchases from Australian sites. However, if you're shopping from an international retailer an international transaction fee may apply (unless you choose a bank account that doesn't charge this fee).

What is the easiest bank to open up an account with?

Almost any Australian bank lets you open an account online in minutes. You just need some ID, a residential address, plus a phone number and email. With digital debit cards on your phone, you could even start spending money you put in your new account as soon as you transfer it in.

The best no fee bank accounts: $0 fees, more saving

1 - 3 of 92

Product	Monthly fee	Govt. Guarantee	Own network ATM fee	Card type
Suncorp Bank Everyday Options Account Apple Pay Google Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	Eligible Visa Debit cardholders can get cashback when using their card to shop at partner retailers. You can link up to 9 sub-accounts to your Everyday Options Account to help you manage your budget and different expenses.	Go to site More info Compare	loading Fetching your data...
St.George Complete Freedom Account Apple Pay Google Pay Samsung Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	Get $40 cashback on groceries when you spend $160 on your digital Visa Debit card within 60 days at Woolworths or Coles. New customers only. (T&C’s apply).	Go to site More info Compare	loading Fetching your data...
ING Orange Everyday Account Apple Pay Google Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	1% cashback on utility bills (T&Cs apply) Access unlimited rebates on all international transaction fees when the account conditions are met.	Go to site More info Compare	loading Fetching your data...

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What you need to know:

Most banks don't charge monthly account fees any more. But they do charge fees for things like banking cheques, in-branch withdrawals and foreign transactions.
The best transaction account according to the 2025 Finder Awards is the Macquarie Transaction Account, which has no fees.
Many banks charge minimal fees. Don't stick with one that charges you for every single thing.

What's the best no-fee bank account?

Here is the winner of Finder's 2025 Bank Account Awards.

Macquarie Transaction Account

This account was the Finder Awards winner for 2024 and 2025.
It has no monthly account keeping fee, and no conditions to meet.
There are no international transaction fees and no overseas ATM fees, which is great if you like to travel.
The money in your account earns interest, currently 2.5%.

Must read: How to avoid bank account fees

If you have a bank account with a $5 monthly account keeping fee, that's $60 a year gone to fees. And if you're charged $2.50 each time you withdraw cash, and you visit an ATM just once a week, you can say goodbye to another $130 a year. Adding foreign transaction fees and overseas ATM fees to the mix, you could easily be wasting over well over $200 a year on fees.

Breaking down the fees banks charge

Aside from account keeping fees, ATM fees and international transaction fees, many banks charge:

Additional card fee: If you request an additional debit card on top of the free card that's included. This could be $20-$50.
BPAY error correction fee. If you make a mistake on a BPAY payment, you can amend the details of the transaction for a fee. This can be $20-$35.
Bank@Post. If you do some of your banking at Australia Post, you might need to pay a fee to withdraw cash from your account (but deposits are free).
Bank cheque. Not many people use these anymore, but if you do there can be a fee of around $10.
Coin counting. If you empty your piggy bank and want it counted in a branch, there's usually a fee for this.
Note handling fee. Similar to coin counting, if you've got a large stack of notes the bank may charge you a small fee for their time to count them.
Periodical Payment fee. Periodical payments between transaction and savings accounts are generally free. Charges can apply when you're transferring between accounts from different institutions.
Debit card replacement fee. If you misplace your card, you'll usually need to pay a fee of around $10-$20 for a new one.
Overseas emergency replacement fee. If you misplace your card overseas and need a new card ASAP, you'll likely pay a fee of around $50.
Staff-assisted transactions. Some accounts may charge a fee if you need help to make a transaction in a branch.

Our expert says: Sneaky bank fees to watch out for

"Australians hate bank fees, and rightly so. These days very few banks actually charge a monthly just to hold your money. Although the Commonwealth Bank's popular Smart Access Account charges a small monthly fee unless you're under 30 or deposit at least $2,000 a month into the account. And banks find other ways to charge you fees, like international transaction fees or fees for doing transactions in a branch instead of online."

Richard Whitten

Money Editor

How to avoid bank account fees

Bank accounts will charge some types of fees but not others. The best way to avoid fees is to figure out the fees you're most likely to be charged, and look for an account that doesn't charge these (for example if you regularly use ATMs you'll want to avoid ATM fees the most).

What fee do you want to avoid?	Some bank accounts that don't charge this fee
Monthly fees	NAB Classic Banking HSBC Everyday Global Account ING Orange Everyday Account MyState Bank Glide Account Suncorp Bank Everyday Options Account
Domestic ATM withdrawal fees	ING Orange Everyday account (conditions apply) ME SpendME Transaction Account Macquarie Bank Transaction Account
International transaction fees	Ubank Spend Account ING Orange Everyday account (conditions apply) Macquarie Platinum Transaction Account HSBC Everyday Global Account
Overseas ATM withdrawal fees	Macquarie Transaction Account Westpac Choice transaction account Bankwest Platinum debit Mastercard (conditions apply)

How to compare fee-free accounts

The main thing you'll be looking at is the fees, but there are other features to consider when choosing an account too.

The account fees

Most bank accounts charge no account keeping fees, so if your account does charge this fee know that it can be easily avoided with another account.

Overseas fees

If you're often overseas, or you regularly shop online from international sites, look for an account that has no international transaction fees.

In-branch fees

If you like to do some of your banking in branch, choose an account that doesn't charge extra fees for deposits in branch. It's also worth checking the bank has some branch locations near you.

Online account access

It's convenient to have access to an account via a mobile banking app so you can easily and quickly keep an eye on spending and transactions at any time, wherever you are.

Deposit requirements

Some accounts, particularly business accounts, will require you to maintain a certain monthly deposit or balance to have the account fees waived. If you're considering an account that does this, make sure you can meet the requirements.

Extra perks

Some accounts offer things like cashback when opening the account or ongoing cashback offers when spending.

Payment options

Choose an account that has payment options you want to use, for example, Apple Pay or Google Pay.

Frequently asked questions

Why you can trust Finder's banking experts

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Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Serina Bird, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 638 Finder guides across topics including:

Superannuation
Savings accounts, bank accounts and term deposits
Budgeting and money-saving hacks
Managing the cost of living

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