pompeyblonde

I pay $5 a month for westpac unlimited ATM transactions etc, I ve never been overdrawn, so thats all Ive paid, and they have been pretty good.

DadAgain

Until recently I've not paid any bank fees in Australia.

HSBC have paid me on average $10 a month to use their account, and since I rarely use ATMs the '5 free a month' was perfectly sufficient and allowed me to get money out of any ATM without worrying about fees.

Having said that its all about to change and even HSBC will start passing on ATM fees from non Westapc/HSBC machines. I'm REALLY pissed off about that, but will probably continue since nobody else to my knowledge will run a 'fee-free any-ATM' account either.

I guess I'll just get even MORE crazy about paying for thing on plastic!! and boycott cash altogether!

Swerv-o

Yes, I agree - I'm pretty peeved that it's been taken out of the control of your own bank and passed on to others.

And I'm with you on the plastic thing - I buy pretty much everything on plastic now, so I will just extend this. Some places I insist on it (Coles for one), just to make them pay the transaction costs, especially if it's for a really small and tiddly amount.


S

comet555

Ditto. I put almost everything on my credit card because we get points back (could redeem for cash if we wanted). It's paid off in full every month so technically they pay me to use the card.

As long as paying by card is the same as by cash I will always choose card. My only exceptions are small businesses that are likely family owned, I make more of an effort to pay cash or EFTPOS for them.

Swerv-o

I have an offset mortgage, so it is in my interests to keep as much of my cash in the bank as possible, as opposed to spending it. Up to now I have usually only really used cash when in pubs, but I think I will start bunging it all on the credit card from now on.


S

comet555

I have the offset too, so yes, it does make more sense to keep the cash in your account longer so that you earn more interest.

To be honest, I usually only pay cash if it's for something under $10 because I feel a bit silly pulling out a credit card. Or, as I said for really small businesses which I don't frequent that often.

dave99

All banks here charge here, except HSBC thats why I hold an account with them, they also have great interest rates.

Aussie banks like to charge a lot for everything thats why they are the richest in the world

ABCDiamond

After Barclays bank of course

ChickChock

Didint realise that barclays were in australia. would i be able to just use my existing uk account or tranfer it over with barclays? would they do monthly charge?

sj oldfield

Try www.bankwest.com.au

They have a migration section. Look for the Hero or Zero account. No fees on either of these!

ABCDiamond

Actually they closed down in Australia some years ago.

What I was saying is that Barclays are actually richer than the Australian banks, at least their profits are bigger.

sparkley23

NAB Gold banking is monthly fee free providing you pay in $5000 a month. You can take it straight out again and no minimum balance. Free access to all atms in Australia (not just their own) and pretty sure free atm access worldwide too and no fees for using the visa debit card abroad either. Plus you get purchase protection insurance and free extended warranty on most purchases if you select "Credit" when using visa debit (money come straight out of your account rather than it being a credit card as such).

If you can afford to put in $5k a month, its an excellent choice. You can have a direct debit from a savings account to put that in each month and then a standing order to take it out again a day or two later if you want.

paul30

I opened an account with NAB online and verified it when I came on a reccie last year so got all my cards and everything but they said because I wasn't moving there and then they would open me an investment account or something like that which gave me a card and allowed cash withdrawals/deposits and eftpos but no monthly fee I just had to upgrade it wen I got here perm and got a job so direct debits etc could be paid from it so there is a way of getting an account without charges till you move here

beebopaloola

with WESTPAC you have to have $3000 in a month to get no fees from a choice account however a basic account has NO fees at all

highersights

BankWest