Bankwest Zero Transaction Account

Bankwest
Headline interest rate p.a.
0%
Monthly fee
$0
Account type
Transaction

Moneybuddy says

The Bankwest Zero Transaction account pays your ATM fees at ANZ, NAB and Westpac, as well as giving you free Commonwealth and Bankwest ATM access. There are no monthly account keeping fees, but you will need to deposit at least $2,000 per month to keep the account active - a salary is the obvious regular deposit.

The Basics

Interest paid Quarterly

Interest calculated Daily

Headline interest rate p.a. 0%

Monthly fee $0

Account type Transaction

The cool stuff: features

ATM access Yes

EFTPOS access Yes

Branch access Yes

Internet Banking Yes

Age restrictions Yes

Cheque book facility Yes

Debit card Yes

BPAY No

GiroPost No

Phone access No

The Facts & Figures

Balance less than $1k (p.a.) 0%

Balance less than $5k (p.a.) 0%

Balance less than $25k (p.a.) 0%

Balance greater than $100k (p.a.) 0%

Min. balance $0

Min. opening deposit $0

Number of free elect transactions per month -

The ugly stuff: fees

Other bank ATM fee $0

EFTPOS transaction fee $0

Branch assistance fee $0

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Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Bankwest says

Zero tolerance for fees? Then Zero Transaction Account is your kind of account. This everyday account lets you access your money at Bankwest, Commonwealth, Westpac, NAB and ANZ branded ATMs for, you guessed it, zero, zip, zilch.You also don’t have to fork out for any maintenance fees, counter transactions or electronic transactions^. If it makes you happier, we’ll even include a chequebook and Debit MasterCard® to provide you with even more convenient access.No wonder our Zero Transaction Account was awarded the 'Best Everyday Account' in Money magazine's 2010 & 2011 Best of the Best awards.To keep your Zero Transaction Account running smoothly, you just need to deposit a minimum of $2,000 per month (your salary ought to do it) into your account. But of course you can take out your cash whenever and wherever you like!

Key features

  • No ATM fees at machines owned by Bankwest, Commonwealth, ANZ, NAB and Westpac
  • Unlimited electronic and cash withdrawals at the counter
  • No monthly account fees when you deposit at least $2,000 per month (e.g. salary)
  • Optional Debit MasterCard® access

Pros

  • No monthly account fees
  • Zero ATM fees when you use any ANZ, Westpac, NAB, CBA or Bankwest branded ATMs
  • Award winning transaction account

Cons

  • No interest is paid on this account (see the Bankwest Hero account if you want interest)
  • You need to deposit at least $2,000 per month to keep the account active
 

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