hey guys
looking for the best everyday banking account
I am currently with HSBC but I am getting really sick of there customer service looking to change banks
what do you guys recommend?
thanks
Best Everyday Bank Account?
Gravediggaz on 05/05/2013 - 16:38
Comments
ing direct. no physical branches though. to get money you need to use atm (>=$200) or use eftpos at coles/woolworths.
I don't mind Citibank, no fees and whatnot, overseas free ATM's, but not aware of any promos going on.
Go for ING Direct, they are very good and I am happy with them. You can withdrawl from any ATM for free as long as the amount is $200+
+1 for ING Orange Everyday account.
Also worth mentioning statements are PDF only, not mailed to you.+1 for Citibank…
I've been happy with Commbank. Netbank is excellent and can always find an ATM.
Avoid NAB.
If u r a student -> go for CBA
no I am not a student….thinking about Citibank since they don't charge 3% when you buy stuff online
From July 1 they will charge 2.5% on all foreign transaction purchases.
ING direct charge 2.5% too, but are a much better bank to deal with
Have you got a link for that? Seriously their gonna start charging :(
https://twitter.com/citibankaus/status/334221380314857472
I asked them and they said they don't have any plans to add any fees.
I don't recommend Citibank, their customer service is terrible and the internet banking is stuck in the mid 2000s.
A) Wrong. Their service is always helpful and they actually try to resolve your issues.
B) Wrong. They are revamping everything and their apps are pretty good.
Other banks simply can't match them currently. If it isn't that stupid foreign transaction fee its an ATM restriction like ING's retarded withdraw $200 minimum.
And Commbank? Pffft, shoot yourself instead.
You're right about A and B, but the $200 minimum for IngDirect has never been an issue for me, and anyway I use the Paywave/Paypass more often and get the 5% rebate. I use Citibank for overseas withdrawals. Why have to choose one or the other? Have the best of both worlds.
I know it's "cool" to hate the major banks but +1 Commbank.
Good service and Netbank & Kaching are excellent.I have the following (for free)
CBA
Netbank is amazing/great, not an free option if you are not a student.
Citi
Good, but old/annoying internet banking setup.
NAB
Better internet banking system than Citi but not as good as CBA.
If you want a free account with heaps of ATMs NAB is a good option.
citibank is sounding like the best options since its free doesn't charge exchange rate too
The choice is yours:
- ING => get 5% rebate for first 6 months
- Bankwest Hero Transaction account => 3.5% interest on balance up to 5K (can use CommBank ATM)
- Citi => if you go oversea or buy stuff in foreign currency a lotI just closed my Citi bank Savings account
They use Westpac to do all their transactions etc and as such were really slow to process things.
My boss would send my pay Monday for a wednesday credit to my account, everyone else was getting their money on Wednesday, i would never see mine until Thursday due to "processing"They also sent me a letter informing me that they will be introducing a 2.5% fee on Foreign base transactions from July 1st this year.
+1 for Bankwest Hero.
I had the same question. Spoke to someone from COm Bank and found out that the fee for everyday banking (usually $4 or $6 monthly) can be waived if you have $1000 salary per month (under 24) or $2000 salary per month (over 24) DD into the account every month.
I have the ING card but the problem is I have to withdraw $200 to avoid the fee every time I used ATM, which is annoying cuz its hard for me to track my spending in cash. Decided to keep both - redirect the salary to Com Bank and transfer that to ING to get ING interest rate. Com Bank Net Bank interest rate is only 3%. So then I can get the good rate and able to use Com ATM card to withdraw.
Just go to a supermarket and ask for Cash out.
Woolworths let you do the cash out only at the Self Serve Checkouts too.Though you don't get the 5% rebate with cashout.
This is correct :) But i was just saying if you were wanting to avoid the ATM fee for smaller withdrawls you can just do it at a supermarket :)
issue i noticed to.. lets say you have $200 in the bank and you want to withdraw it at an ATM which you know will be free.
You need to have $202.50 (for a $2.50atm fee) in your account for it to go through which can be annoying i geuss.
But yeah i just get cash at supermarkets.. but rarely carry cash much these days.I don't mind withdrawing $200 or more at one go because I still use cash a lot. This is a way that I prefer to operate to help keep my spending in check.
This is understood by anybody who has read behavioural economics. The further the distance the funds are from cash, the easier it is to part with it. That's why people with budget problems are advised to cut up their cards.
So ironically if one wants to control spending better, switch back to cash. Sure with EFTPOS there is an itemised statement from the bank, but by then it's just regret time and not as painful as when one parts with cash.
cash rate just dropped -0.25% :(
No self respecting ozbargainer would pay fees on a transaction bank account!
My recommendations:
NAB - fee free, good ATM network
Bankwest Hero - fee free (minimum deposit conditions) - CBA ATM network + interest
Bankwest Zero - fee free (minimum deposit conditions) - Use any of the big 4 ATM for free.Bankwest heror/zero looks really good. If I am only depositing $500 in the account the interest wouldn't mean that much so I suppose Bankwest Zero would be a better option?
My wife is with bankwest and they have good customer service due to their retail outlets in shopping centres. They are open retail hours instead of bank hours. They also have useful things like automated change counters (small thing, but annoying if you take in a money tin or tips).
if you are ok not having branches, (you may have mentioned but i didnt read through)
but i am with ING Direct
they are pretty good, their customer service is awesome too.
I lost my card recently and they express posted it so i got replacement next day.They have an offer at the moment for all new customers too, if you sign up and use your everday card with Paywave you get 5% cash back on each purchase under $100 (so up to $5 cash back per purchase)
They dont have any account keeping fees,
You can withdraw money from any ATM and if you withdaw more than $200 they pay the ATM fee for you
If you withdraw less then you pay that fee.I just go to supermarkets to get my cash out :) no fees :)
Also if you make a purchase on eftpos and withdraw $200 or more as well they give you 0.50c every time.Customer seervice team is awesome and helpful.
Internet banking is simple and intutitive.Highly reccomended
One more thing:
ING do all their processing before 8pm each day, so if you get salary, pensions, bank-bank transfers done before 2pm you get money in your bank by 8pm same day.
They are launching a "kaching" service later this year.. and will be sure to offer some incentive to get people to use them.
I also have my Super with them.. i did months of research and found they were the best.. the results are showing already :)Is the 5% cashback immediate? Im asking as I bought petrol last night and thought it would be credited immediately, but doesn't seem to have come through as yet.
The rebate is immediate when the money is taken by the merchant, but the merchant may not take it immediately, and it's just held. You tell this is the case when the available funds is less than the current amount. Why worry? Until the money is taken you still have the 95% you were supposed to pay.
BOQ Day2Day Plus Account, a no monthly fee account with branch in all states, also sharing second largest ATM network: rediATM.
http://www.boq.com.au/day2day.htm- no monthly account fee
- free unlimited through: through: Internet and Mobile Banking, BOQ Branches, Visa Debit, rediATMs, EasyPhone Banking.
- free access to over 3,400 rediATMs
- free Visa Debit Card access, with PayWave
- the latest Award winning Internet and Mobile Banking
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Of course no one beats ING Direct's 5% cash back program at them moment.
Have a look at the IngDirect 5% rebate and MEBank $50 bonus deals elsewhere on this site.