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Compare bank accounts with no fees

$0 fees = more money in your pocket. Because banks should work for you, not the other way round.

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
ING Orange Everyday Account
ING logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
1% cashback on utility bills (T&Cs apply)
Suncorp Bank Everyday Options Account
Suncorp Bank logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Go to siteMore Info
Eligible Visa Debit cardholders can get cashback when using their card to shop at partner retailers.

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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 no-fee bank accounts according to the 2024 Finder Awards are the Macquarie Transaction Account, HSBC Everyday Global and Suncorp Everyday Options Account.
  • Many banks charge minimal fees. Don't stick with one that charges you for every single thing.

What are the best no-fee bank accounts?

Here are the winners of Finder's 2024 Bank Account Awards. All of these accounts have no monthly fees and also no fees for using ATMs on the bank's own network.

Macquarie Transaction Account

  • This account was a Finder Awards winner for 2024.
  • 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 2.75%.

HSBC Everyday Global Account

  • This account finished highly commended in the 2024 Finder Awards in the best bank account category. It also won for best travel debit card.
  • You can earn 2% cashback on tap and pay purchases, and with 2 people spending from the account you'll be able to boost the amount of cashback you earn.
  • There are no international transaction fees, so if one or both of you like to travel you will save money on fees.

Suncorp Everyday Options Account

  • Suncorp's Everyday Options Account also finished highly commended at this year's Finder Awards.
  • You can open up to 9 mini sub-accounts linked to this account which can help you both manage shared expenses and budget for specific things e.g. a holiday fund.
  • There are no international transaction fees, so if one or both of you like to travel you will save money on fees.

Methodology: How we chose these bank accounts

The Finder Banking Awards use a rigorous methodology to select the winning transaction accounts. To qualify for selection, a bank account should have:

  • No account fees.
  • No local ATM fees.
  • No international transaction fees.

Then we scored each account based on rates, other fees and features like cashback. 50% of the final score comes from the fee component.

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.

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
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

freeYou pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
expert adviceYou save time. We spend 100s of hours researching bank accounts so you can sort the gold from the junk faster.
independentYou compare more. Our comparison tools bring you more banking products from across the market.
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Serina Bird's headshot
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.
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Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 626 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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