OT: Useful Aussie Savings Account?

Discussion in 'Open Discussion' started by BlacKnox, Apr 18, 2006.

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  1. BlacKnox

    BlacKnox Active Member

    Jan 29, 2005
    It's been years since I've lived in Oz and wondering if any savings account is handier than others (search function didn't ruck much up :oops: ).

    I won't be travelling much this year so O/S withdrawals aren't a priority (though I presume most accounts are maestro/ cirrus enabled). Just wonderin what most AFFs use as their primary bank for everyday deposits/ withdrawals?

    I've got a fair idea of credit cards from this forum yet I need to transfer funds from my Japanese Citibank account to ????

  2. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    For my transaction account, I have a Westpac One account, which gives unlimited transactions for $5 a month (and you can avoid that if you keep a certain balance in the account). Other banks have similar sorts of products.

    Generally with all of them they will charge a fee if you use another banks ATM.
  3. dgruber

    dgruber Intern

    Oct 8, 2005
    bank fees

    Citibank Plus and Suncorp Everyday Options are examples of accounts that do not attract other bank ATM fees.

    Citibank offers 5.5%, Suncorp 5.55% and Suncorp offers a Visa Debit card which Citi does not but Citibank allows you to bank at Australia Post, and Suncorp does not offer this facility unless you are over 50km located from their branches.

    For information on bank accounts, fees and charges:
  4. JohnK

    JohnK Veteran Member

    Mar 22, 2005
    BNE, SYD and CNX
    Probably not a lot of help to you but with Commonwealth Bank if you maintain a balance of $30,000 with them they do not charge any fees.

    Home loan, margin loan, credit card, any balance would do.
  5. serfty


    Nov 16, 2004
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    If you want a basic transaction account, you could try a Woolworths "EzyAction" account; No monthly fees and the local Big W/Safeway/Woollies becomes your local bank for deposits and withdrawals. In metro areas the opening times are far better.
  6. Damien

    Damien Member

    Aug 29, 2005
    Re: bank fees

    All of my banking is done with my home loan provider (it gives me a better deal), so I can't really comment on what is the best out there anymore.

    However, I can recommend bankchoice for an overview of just about everything that it available. It will allow you to search for the features that are most important to you.

    Also, don't restrict yourself to pure banks. Credit Unions provide some of the best structures.
  7. BlacKnox

    BlacKnox Active Member

    Jan 29, 2005
    Great feedback, excellent links and some food for thought. Thank you :D .
  8. straitman


    Apr 27, 2003
    SE Oz (Sale)
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    All the regular banks NAB/Westpac/ANZ & Commbank offer prefered packages for those with better than avaerage income. These give you a variety of things (though they vary extensively) from lower than average morgage/investment loan rates, fee free and prefered CC options. You do need to ask though.

    I can give you Commbank & NAB manager contact names and details if needed.

    :) :) :) :)
  9. cbert

    cbert Intern

    Apr 17, 2006
    I reckon on of the best saving accounts is the HSBC online account.

    Unlimited Free HSBC ATM usage

    5 Free from other ATM

    Unlimted EFTPOS

    I dont think there is minium balance

    and NO service fee :D

    oh and they give a good rate of interest at just over 4%
  10. BlacKnox

    BlacKnox Active Member

    Jan 29, 2005
    Not necessary thanks straitman though appreciate the offer :D .

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