Compare Debit Cards for More Convenient Banking
Do you prefer spending your own money rather than charging things to credit cards? But is carrying cash around too much of a bother? Then choose a bank account with debit card access for simpler spending from your bank account! Start comparing debit cards below.
Debit Card Accounts
| Product | Bank | Monthly Account Fee |
Interest Rate % p.a |
Our Take | Apply |
|---|---|---|---|---|---|
| ANZ Access Advantage |  |
$5 | 0% | Unlimited ANZ transactions for $5 a month including a Visa Debit Card. |  |
| Bankwest Hero Transaction account |  |
$0 | 4.5% | High interest paid on your everyday bank account balance, no monthly fees when you deposit at least $2,000 per month, free access of over 4,000 Bankwest and CBA ATMs, Debit MasterCard access, Chip & PayPass technology. A bank account for Savers. | |
| Bankwest Zero Transaction Account | |
$0 | 0% | Zero ATM fees at all major bank ATMs Australia wide - that's over 10,000 Bankwest, CBA, Westpac, NAB, and ANZ branded ATMs. No monthly fees when you deposit at least $2,000 per month, Debit MasterCard access, Chip & PayPass technology. A bank account for Spenders. | |
| Citibank Plus Account |  |
$0 | 0% | Great value from Citibank - fee free banking, free ATM fees from many AU banks, free overseas ATM withdrawals + free overseas money transfers | |
| HSBC Day to Day Account |  |
$0 | 0% | $10 monthly credit (up tp $100) if you deposit $2000 per month + unlimited transactions at Westpac, St George, Bank of Melb & Bank SA | |
| ING DIRECT Everyday Orange Account |  |
$0 | 0% | No monthly fee, Visa debit card, free ATM withdrawals (over $200), no minimum balance needed, deposit funds by hand at Australia post | |
| NAB Classic Bank Account |  |
$0 | 0.01% | Winner of the 2010 CHOICE Award for Best Low-Fee Bank Account. | |
| RaboDirect High Interest Savings |  |
$0 | 5.4% | Take your dreams back with a high interest savings account with RaboDirect! Great rate of 6.01% p.a. | |
| St George Complete Freedom |  |
$0 | 0.01% | Deposit a minimum of $2000 a month and pay no monthly account service fee. No minimum balance required. | |
What are Debit Cards?
Debit cards look and act much like credit cards. But they're tied to your bank account (generally a checking account). When you use them to make purchases, the money comes directly out of your bank account as if you'd withdrawn cash to spend. Let's explore some of the benefits of debit cards and why you might want one tied to your bank account.
Benefits of Debit Cards
Debit cards have benefits over both cash and credit cards. Here are some debit card benefits compared to cash:
Debit cards are less bulky than having to carry around wads of cash.
Debit cards are more secure than cash (can be replaced if lost or stolen whereas cash can't).
Debit cards let you avoid ATM fees for cash withdrawals.
And here are some of the benefits of using debit cards instead of credit cards:
Debit cards don't have a risk of putting you in debt because you spend only the money you already have.
Debit cards don't put you at risk of paying interest on your purchases.
Debit cards' fees can often be lower than those of credit cards.
Even if a debit card isn't your only spending method of choice, hopefully you can see the benefits of at least having one on-hand as an option.
Comparing Debit Cards
There isn't always much to compare from one debit card to the next. They all serve the same purpose. You'll probably want to focus more of your comparison on the linked account you'll have to have with the card's issuing bank. For example, you might have a fee-free option on the low end, whereas a higher level bank account will require monthly fees and higher minimum deposits -- even if they issue the same debit card.
You can review information to help you compare debit cards and their linked accounts above, and apply online today if an account looks appealing to you.
