$0 Monthly Account Service Fees Savings Accounts

Being guaranteed zero monthly fees on your transaction account may sound like a dream come true, especially if you have just received another bank statement and cringed at the tally of withdrawal, deposit, enquiry and monthly service fees. There are also a number of Australian transaction accounts which offer you guaranteed $0 monthly account service fees, without making you bend over backwards.

No Fee Transaction Account Comparison

	Description	Monthly Account Fees	Debit Card Access	ATM Withdrawal Fee	Interest Rate p.a.	Details
NAB Classic Banking	No overdrawn fees. Press Credit when you shop and get complimentary 3 months Purchase Protection Insurance.	0	Yes, Visa	0	0.01%	No minimum deposits required to get $0 monthly service fee.
Citibank Plus Transaction Account	Transfer funds instantly between Citibank accounts in more than 25 participating countries.	$0	Yes, Visa	0	0.00%	No ATM fees using Citibank, Westpac, BankSA and St .George branded ATMs

Accounts currently offering $0 monthly account service fees include:

The Bankwest Zero Transaction account. Bankwest offers unlimited phone and internet banking transactions, free MasterCard debit card and free EFTPOS transactions when you deposit just $2,000 a month.
The NAB Classic Banking account. In January 2010, NAB wiped out their monthly account service fees so you have $0 account fees and access to internet, ATM, branch and cheque transactions.
The ANZ Deeming Account. If you are receiving a pension or Centrelink payment you may qualify for $0 monthly account keeping fees from ANZ.

Features of the Bankwest Zero Transaction Account

The Bankwest Zero Transaction account is a very inclusive account and just one condition to allow you $0 monthly account service fees. Plus, if you can’t meet the minimum $2,000 monthly deposits alone, you can open a joint account and combine your income with your partner’s to meet the monthly balance requirements. Other features of the Bankwest Zero Transaction account include:

• Fewer exception fees too. Exception fees are those fees which can be charged when you make an exception to how your account should be used, you bounce a cheque, you key in the wrong PIN or you dishonour a direct debit. The Zero Transaction account removes the worry of exception fees by including a $100 fee free, interest free safety net. This means that Bankwest will honour any overdrawn transaction to the value of $100, without charging you.
• Fee free ATM access at foreign banks’ ATMs. Bankwest allows you to make fee free ATM transactions at their own ATMs and at any of the Big Four Banks’ ATMs too. This means you can use an ATM from any of the Big Four Banks and any of their partners banks too, for example you can withdraw from a Westpac ATM and a St.George ATM for free.
• Fee free debit card transactions. You can link a MasterCard debit card to your Zero Transaction account for free too and make free credit-card-like transactions over the phone, in person or online.
• A two month chance to make up your minimum deposit. If you don’t meet your minimum $2,000 deposit amount in one month don’t worry because until you miss the minimum for two consecutive months you won’t miss out on $0 fee banking.

Improvements in the NAB Classic Banking Account

The National Australia Bank slashed the fees on a number of their accounts coming into 2010 and abolished the fees on the rest. The NAB Classic Banking account is one which is now fee free for you to open and use and this improvement now allows you to enjoy all of these features for $0 a month:

Your $0 monthly fee covers unlimited use of your account. You can make unlimited NAB ATM withdrawals, unlimited branch transactions, unlimited cheque facilities and unlimited phone and internet banking, fee free each and every month unconditionally.
NAB won’t charge you for using another bank’s ATM. Normally there are fees from your own bank and the foreign bank when you use their ATM, however NAB will not charge you for using another bank’s ATM, but the other bank might.
You can link to a Visa Debit Card for free too. If you want to use your NAB Classic Banking account to shop online or over the phone then you can use your linked debit card just like a credit card but without the annual fees and interest charges.

Do You Qualify for an ANZ Deeming Account?

The ANZ Deeming Account has a $0 monthly account service fee if you meet the eligibility requirement and you can conduct fee free banking with the access and features which suit you. To qualify for and use the ANZ Deeming Account:

You must receive a pension or allowance. If you are receiving a Centrelink allowance or a Veterans’ Affairs pension or allowance you may qualify for fee free banking with ANZ.
For customers over 18 you can link a Visa Debit card. This gives you fast and secure access to the funds in your transaction account to make purchases in person, online or over the phone. A debit card acts just like a credit card but does not accrue interest or charge you any fees.
Unlimited banking transactions and all your favourite features. With the ANZ Deeming Account you’ll have unlimited ANZ ATM transactions, phone and internet baking, branch access, cheque facilities and EFTPOS transactions.

It is possible to find a transaction account with inclusive features and an exclusive monthly service fee and to find out more about fee free transactions and banking you can view the Savings Account Finder™ comparison tables here to choose an account which suits your needs. To sign up for one of these $0 monthly account service fee offers or one of the other top Australian bank accounts in our comparisons, simply follow the secure links to the provider’s website and begin an online application form today.