Best debit card Australia

Who Is The Best Aussie?

Asking which is the best debit card in Australia is sort of like asking: “Who is the best Aussie in Australia?” Well, that depends on what you’re looking for in a good Australian man or woman. As well, it depends on what you need in terms of a good debit card. As is usual in our commercial world, you have many choices.

One Billion Australian Dollars A Day!

There are about 40 million debit cards, and about 20 million credit cards, on issue in Australia today, and every day there are nearly 10 million plastic transactions with a value of around one billion dollars. You’ll can realise from these statistics that the market for debit cards is intensely competitive, with banks and other financial institutions constantly striving to develop new products to appeal to a variety of customers.

Debit Card Comparison

Debit Card	Account Details	Type	Monthly Fee/Min Deposit	Fee without Minimum Monthly Deposit
NAB Classic Banking	Pay no monthly account service fee ever. No minimum deposits to be eligible. Added benefits include your choice of 4 colours – black, red, white and pink, 90 day Purchase Protection Insurance, and enhanced security with NAB Visa Debit Cards chip technology and Visa Zero Liability. You can also link your account to a NAB iSaver or NAB Smart Reward Saver savings account.	Visa Debit Card	$0	$0
HSBC Day to Day Transaction Account	Get $10 monthly Feebate for each month if you make deposits of at least $2,000, Plus $0 monthly account keeping fee.	Visa Debit Card	$0	$0
ANZ Access Advantage with ANZ Everyday Visa Debit Card	Enjoy unlimited everyday ANZ transactions for $5 per month – including ANZ ATMs, Phone and Internet Banking, Branch, Cheque and EFTPOS transactions. Monitored by ANZ Falcon for added transaction security. No credit history needed.	Visa Debit Card	$0	$5
St.George Complete Freedom Account	Unlimited ATM and branch access. No monthly account service fee, so long as you deposite a minimum of $2,000 by the last business day of every month or have your St.George Home Loan repayment deducted from your account. 10 free SMS alerts per month.	Visa Debit Card	$0 / $2,000	0 / $5
St.George Express Freedom Account	Pay as you go for branch and cheque services, meaning you only pay for what you actually use. Great card for online and electronic banking with a Visa Debit Card.	Visa Debit Card	-	$3
St.George SENSE	Transaction account that is linked to your savings account. Allows you to earn a competitive interest rate on your money, with the convenience of 24/7 access as it is linked to your debit card.	Visa Debit Card	$0 / $2,000	$5

Really! Just What Is A Debit Card?

A debit card vies with a credit card as the next best thing to cash. Debit cards have their advantages over credit cards and vice versa, depending on who you are and what you’re doing. If you’re strapped for cash, fine, use a credit card. Use it and you have just taken out a loan and you will pay dearly for it unless you have the wherewithal to pay it off within a month. Really, debit cards are on par with credit cards – or even better – in so many ways. For instance:

• No credit check.
• No interest rates.
• No overspending.
• Low (maybe no) fees.
• Safety of not carrying cash.
• Convenience of paying with plastic.
• Special benefits regarding insurances, warranties, etc.
• Online and phone purchases as easy as with credit cards.
• Safety, convenience and travel features of the MasterCard or Visa networks.

Debit cards are like plastic cheques. Any charges are drawn from an account you have established with a financial institution, such as a bank, building society, or credit union. You can’t go over your limit unless you have somehow managed to unintentionally outfox the electronic signals to your account holder. (Then you could be charged for an overdraft, just as with a cheque.) Your account is replenished either from the direct deposit of your salary or whatever other means you may choose.

What Do You Like to Do? What Do You Need to Do?

Usually, when you open a chequeing account or a savings account, the representative will ask you if you would like a debit card to go along with the new account. You might want to take a step back and really consider who you’re doing your banking with and what kind of opportunities that particular institution may offer.

Before you open any banking account, and especially if you have an eye on getting a debit card, you need to ask yourself some specific questions. And come up with some thoughtful answers. Then open the appropriate banking account and get the best Australian debit card for you and your financial situation. Important matters include:

• “A Little for This, a Little for That.” (Fees) Nothing is so irksome as to have to pay to use your own money. Sometimes though, the convenience of having your cash stashed in a safe place where you can get a hold of it easily, just might be worth a small fee. However, there are many financial institutions that will take care of your money for no charge at all. You will benefit by shopping diligently, just remember that a fee may be worth an advantage or two. Students, pensioners, and veterans should take particular notice of fee concession offers.
• “I Want My Money!” (Transaction Limitations) Not being able to get a hold of your money when you please can be irksome as well. You may have a limited number of transactions or purchases that you can make per month without paying a fee.
• “Where Does the Money Go?” (Minimum Balances) Some institutions will demand that you keep a minimum balance. Sometimes it is as little as $10, but it could be more. If you go under, fees may be incurred or sometimes the account is cancelled altogether.
• “But I Need a $1000!” (ATM Withdrawals) Sometimes this is a matter of safety, sometimes it is a matter of how many transactions an institution wants to deal with. Your withdrawals may limited per month, and they are usually limited as to amount, $500 being a usual per-day limit. Also, if you do make withdrawals, they should be free at ATM’s owned or used by your bank. You will be charged a processing fee at other ATM’s. How close is a fee-free ATM to your home or office?
• “Shopping in Singapore?” (Transaction Monitoring) During your inquiry regarding a debit card, ask about security. Does the issuer monitor the usage of your card much as is done for credit cards? Will they alert you or put a “hold” on your card if they detect unusual usage? Do they guarantee a refund for losses due to unauthorised usage? What kind of response will they provide if your card is lost or stolen? Find out how easy it would be to seek advice or service reviews. Is help available twenty-four-seven? (Should you plan to travel or make unusual purchases, notify your issuer so they don’t put a block on your card if they notice it’s being used for shopping in Singapore, for instance.)
• “Hello? Hello?” (Account Access) Do you like to monitor your banking account online? Do you sometimes use a smart-phone to do so? You need to ask your debit card issuer these questions. They may not have online banking available or the may charge for such a service.
• “Off We Go!” (Travel) If you will be using a debit card overseas you need to check out a card provider’s customer service arrangements. It’s important that you can contact your card provider twenty-four-seven if you have any difficulties using your card when travelling. Because debit cards are either MasterCards or Visa cards, they are recognised all over the world. Frequent travellers can save hundreds of dollars on travel insurance just by choosing the right debit card and using it to pay fares.
• “I’ve Been Robbed!” (Special Features) How important are special benefits such as purchasing insurance and extended warranties? Some card providers give rewards such as discounts and exclusive entertainment offers that could save you a lot of money if you often buy tickets to concerts or sporting events. If a costly item was stolen from your car would your debit card issuer offer to pay for full replacement? Check to see if the issuer offers warranties on purchased items.

Your Best Australian Debit Card

If you already have a banking account, it would be prudent to ask the institution if they can link a debit card to it. Ask the same questions posed above, though. This may seem like quite a lot to consider just to get a simple debit card, but it’s not really when you consider how important it will be to you financially. Often it’s trying to work out a balance between fees and charges and the facilities and extras you want with your card. As you can see, debit cards come packaged in many ways, you need to find the best debit card that best suits you. Then it will become the best Australian debit card – for you.

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1. Difference between Debit Card and Credit Card
2. How to get a Debit Card
3. Advantages of Having a Debit Card
4. Virtual debit card
5. Cheapest Debit Card
6. Maestro Debit Card
7. Free Prepaid Debit Card