upthehammers

Can anyone tell me what bank it was that charge one fee per month for all transactions.I know some charge per transaction .Thank you

Lindsay Clan

Not sure which bank you are after but we bank with HSBC and don't pay any fees!!! Well worth looking into and you can get your acct sorted and opened whilst still in the UK ready for use when you get "Down Under".

Lorraine

Teliko21

ANZ charge $5 a month but I don't think this is for unlimited transactions. Could be wrong though

upthehammers

Thanks i will go onto the website.

phoenixinoz

Most banks will charge a fee unless you have X amount in the account at any one time [varies depending which bank ], and then the fee is waivered.

It's worth shopping around, even go speak to the banks as quite often they have a package that suits your individual needs best.

Banks are a business like any other.

Nowt's "free" at the end of the day

phoenixinoz

So do Westpac. But you have to have a balance of $2,000 in the account at any one time.

We're with HSBC and the same applies

Wol

No it doesn't - it just means that for each day you have les than $2000 in the account the interest rate is miniscule. You still get interest, and pay no fees.

phoenixinoz

Which bank?

I was talking about Westpac.

Westpac one account = $5 fee per month unless you have $2000 in the account and then the fee is waivered.

The same principle applies for the HSBC account.

Wol

No it does not!

HSBC does not charge a fee - unless you go over a very reasonable no. of transactions - whatever your positive account amount. I am talking about the online savings account, BTW, which is exactly like a current account in all but words: it has a cheque book, debit card etc.

CadburysFingers

I posted a thread recently to try and collate some info before we changed banks from the very expensive Commonwealth Bank. The result of all the info received was I opened two accounts with the National Bank (www.national.com.au) Seems an excellent bank from the staff I have encountered thus far.

We opened a Smart Saver account $3 per month, with unlimited EFTPOS and ATM transactions, which suits us perfectly.

We also linked it to an I Saver account (5.45% interest calculated daily) The good thing about this account is it has no minimum balance required to get your 5.45% so we simply keep all our dosh in there, then transfer it via the net to the other account if we know we need some money for anything.

$3 a month for everything we need from a bank, at the Commonwealth we were paying around $20 a month and had to keep a balance of over $5000 to earn the higher rate of interest in our second account. It was an easy choice to make.

Neil & Shell

I agree with you Wol.

I bank with HSBC and pay NO bank charges that is why we choose them.

I set the account up before I left the UK and collected the cheque books, ATM cards the day I arrived in Brisbane. I cannot fault the service from them.

Shell

matt-and-jenny

Suncorp and St George do aswell

phoenixinoz

So then what you have is not an unlimited transaction account.

It sounds like you have a SAVINGS account, which is online. Which is not quite the same thing I was talking about. But thanks for the clarification.

I was talking about my TRANSACTION account.

So contradicting my post is pretty pointless as you are matching apples with pears

If there is anyone on here that gets absolutely free banking with no strings attached, i.e no minimum deposits required, unlimited free transactions, no monthly fee and a good rate of interest for any money that's in there, .....then please tell.

Oh, I'm not talking about a savings account where you keep money in there earning shite interest cos you use it as a transaction account either.

I put my savings in a high interest savings account.

I put my everyday money in a transaction account.

And I keep just enough in the transaction account to not to have to pay a fee.

There's the difference.

mand8002

We bank with the Commonwealth Bank and only pay $5 per month account keeping fee as we never exceed the allowed number of withdrawals a month. We have just opened a high interest savings account and yes you have to keep $5000 in there to get this interest but it will stop me from spending it!!

phoenixinoz

EXACTLY Mand....and that's the same principle as me.

You have a transaction account....and a savings account.

Both for different purposes [low fee transaction account, high interest savings account].

With my transaction account though, the monthly fee is waivered if I have $2000 in the account.