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Thread: Debit accounts

  1. #1

    Default Debit accounts

    Hi All,

    I am on the look-out for my first debit card account. To date I have been using prepaid credit cards to make online/international purchases, but the fees associated with them are now becoming ridiculous ($5 for the card, $0.10 per transaction + 3.5% of AUD price for international transactions).

    Which institutions offer debit cards without charging any monthly account fees, transaction fees or international transaction fees?
    Are there any that you would personally recommend?

    Cheers

  2. #2
    Self Funded Retiree Bill M's Avatar
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    Default Re: Debit accounts

    Hello waterbottle, the best debit card on the market for me is the Citibank Plus Everyday Account Visa Debit card. It does not charge any currency conversion fees when overseas and this is very important to me. I also do not pay any account keeping fees. There are no ATM fees if you withdraw at Westpac, St.George, BankSA and Bank of Melbourne ATMs throughout Australia. For more info google Citibank Plus Everyday Account.

    Another good account for use within Australia is the ING Orange Everyday Visa Debit. It in my opinion it is good within Australia but not so good overseas and there are rules on how to get the most out of that account.

    The best out of the two for me is the Citibank Plus Everyday Account, I hope that helps, cheers.
    There's one thing we have learnt from history, it's that we don't learn from history.
    Nothing I say is a recommendation or advise, do your own research.

  3. #3

    Default Re: Debit accounts

    Quote Originally Posted by Bill M View Post
    Hello waterbottle, the best debit card on the market for me is the Citibank Plus Everyday Account Visa Debit card. It does not charge any currency conversion fees when overseas and this is very important to me. I also do not pay any account keeping fees. There are no ATM fees if you withdraw at Westpac, St.George, BankSA and Bank of Melbourne ATMs throughout Australia. For more info google Citibank Plus Everyday Account.

    Another good account for use within Australia is the ING Orange Everyday Visa Debit. It in my opinion it is good within Australia but not so good overseas and there are rules on how to get the most out of that account.

    The best out of the two for me is the Citibank Plus Everyday Account, I hope that helps, cheers.
    It does Bill M, thanks!

    Do you have a savings account with another institution? If so, how long does it take you transfer money from that account to your debit account?
    One of the advantages of my EFTPOS account is that I can instantly top it up from my savings as both accounts are with the same bank.

  4. #4
    Self Funded Retiree Bill M's Avatar
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    Default Re: Debit accounts

    If I do the transfer online before my banks cut off time (around 4.30 PM on a business day) then it is in that account the next day. If you do a transfer on Saturday then it will be in your account Tuesday or Wednesday if Monday is a Public holiday, cheers.
    There's one thing we have learnt from history, it's that we don't learn from history.
    Nothing I say is a recommendation or advise, do your own research.

  5. #5
    sydboy007's Avatar
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    Default Re: Debit accounts

    check out bankwest

    http://www.bankwest.com.au/personal/...ounts-overview

    I'm using their Qantas account as it has good ATM availability in Australia and no fees for overseas ATM withdrawals, though they do charge the standard 3.5% fee.

    The Citibank account BillM mentioned is prob currently the best option, especially if you travel internationally. I have both. Use the CB account when on holiday and the BW in Australia which also gives me a handy amount of QFF points each month.
    A budget tells us what we canít afford, but it doesnít keep us from buying it.

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