Daydreamer123

Hi All

Need a little bit of advice, we have just activated our accounts at Westpac and read through all the documentation and discoverd how expensive the fees are going to be We will stick with them for the time being, but hopefully we can get some advice on which banks offer the lowest overall fees (any with out fees???) so that we can change as soon as possible.

Any advice/thoughts on what are good banks to go with for lower banking fees?

renth

HSBC - no fees, all the Aussie banks are shite.

NJJ

To quote Alan Partridge - they're all "scum, sub-human scum"

Tiggs+Graz

hsbc no account fees, no transaction fees ... no cash machines anywhere except the cities
(although you can withdraw cash fee free from the post office)

kali

Citibank (www.citibank.com.au) has no fees accounts as well. On the down (or up) side you have to do everything on line or via the phone. There are no tellers anywhere you'll have to go to the post office or NAB when you want to put money on your account.

You can use any ATM you can find so you are not limited to just your bank ATM.

So far we are happy with them, although it was confusing when we first started.

renth

You can withdraw cash from any ATM with HSBC and the first 5 or so are free each month.

DownUnderPaddy

You can withdraw cash from any ATM for no charge, if your account is with Suncorp and you are not living in QLD.

Works great for us here in VIC :-)

NKSK version 2

Have you not wondered why the Australian banks are so insulated from the banking crisis overseas?!

ANZ has no fees if you are a teacher. (I haven't paid a cent to them (apart from when I send or receive money (from) overseas).

Otherwise it's a flat $5 a month fee I think which is pretty good.

Daydreamer123

Thanks for the response! We will investigate HSBC, who we were with in the UK, but didnt feel like spending £100 to set up Aussie accounts before we left. Now we are here maybe we will switch to them before everything becomes too difficult.... so before we start earning any money and need to be paid

theelliotts

Hi - We are with Westpac and do not incur any charges. At the end of the day, if they want to retain your custom, you just need to negotiate with them. Anytime we have had a charge, they have refunded with no hassles (this has only been a couple of times).

HTH
Nina

4lex

Lots of larger companies have a deal with their bank to give their staff fee-free banking. My lot's with ANZ, and they have a pretty extensive network of cash machines, around NSW anyway. Talk to your HR people if you work in an office environment, there are a few of these benefits about, sometimes poorly publicised - my lot pay for broadband at home too.

lastone

Are you sure about this?

Is it not just because the Aussie banks are lagging behind the Uk, who were lagging behind the US.

I only ask because I'mintending to open an account in a couple of hours, but am a little concerned about the Aussie banks.
I was going to go with citibank, but I suppose even these aren't guaranteed.

Anyone got any advice?

bridie

Yep, we have ANZ $5 a month....... of course, would rather it was free but $5 doesnt really hurt

dpande

NAB if you can deposit $5000/ month is fee-free for the gold account. Unlimited free transactions of all types, so far have incurred only $8 fee for a bankers' draft to buy a car (compared to 22 quid in the UK). It is linked to an online i-saver account, so each month you move $5000 from the i-saver to the transaction account (online and for free) then move it straight back again- voila! no fees.