Jan 17 2017

Monthly Fees on Australian Bank Accounts

Australian Bank Account Monthly Fees

Australia has four main banks, Australia and New Zealand Bank (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac.  There are a number of smaller banks, but these are kown as the Big Four Australian Banks

Most banks have a standard monthly account keeping fee for standard banking facilities, but there are options for Free Banking at all of them, although FREE BANKING does come standard at some.

At January 2017 the Big 4 Australian Banks show the following conditions for Free Banking.

ANZ: No monthly account service fee (normally $5 a month) if you deposit at least $2,000 a month. www.anz.com.au

CBA: We’ll waive the $4 fee for your new Everyday Account Smart Access if you deposit at least $2,000 a month www.commbank.com.au

NAB: Our everyday account with no monthly account fees, everwww.nab.com.au

Westpac: Monthly service fee $5 is waived for customers that deposit at least $2,000 each month www.westpac.com.au

It can be seen from the above that the NAB may be the account of choice for many that wish to avoid account fees with no conditions

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