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Banking · AU · 10–14 min read

Choosing a Low-Fee Bank Account in Australia (2025 Checklist)

A practical 2025 checklist explaining common Australian bank account fees, what to look for when opening an everyday transaction account, and how fee structures work.

Updated 2025-11-20Publisher: PrimeRate Finance
Choosing a Low-Fee Bank Account in Australia (2025 Checklist)
Australian banking

Everyday bank accounts in Australia can seem similar, but the fees attached to them can vary considerably. Understanding how fee structures work helps people compare options more confidently. This guide provides general educational information about common fees associated with Australian transaction accounts. It does not recommend specific products.

Key takeaway: Many Australian banks offer accounts with low or no monthly fees, but conditions may apply.

Common Australian bank account fees

Most everyday transaction accounts in Australia include some form of fee structure. These may depend on account usage, balance requirements, or the presence of linked products.

Typical fee types

  • Monthly account keeping fees
  • ATM withdrawal fees
  • International transaction fees
  • Overseas ATM fees
  • Currency conversion margins

2025 fee comparison at a glance

Fee Type Common Cost Range
Monthly account fee $0–$6
ATM withdrawals $0–$2.50 (domestic)
International card purchases 0–3.5% of transaction
Important: Some accounts waive monthly fees if certain conditions are met, such as regular deposits or student status.

What fees to be aware of in 2025

May apply
  • Monthly maintenance fees
  • Overseas ATM withdrawals
  • International transaction fees
  • Insufficient funds fees
Often avoidable
  • Domestic ATM fees (within major networks)
  • Monthly fees with eligibility
  • Digital transfer fees
  • Cash withdrawal fees at partnered ATMs

2025 Australian banking conditions

Did you know? Many Australian banks waive fees for students, concession card holders, and new arrivals for a period.

Step-by-step: Opening an account

  • Confirm identification requirements
  • Check account fees and conditions
  • Review ATM network coverage
  • Understand international usage costs
  • Check digital banking features
Example scenario:
Someone using their Australian card for frequent overseas purchases may incur additional conversion and network fees.

When to review your account

  • Changes in personal circumstances
  • Increase in international spending
  • New eligibility for fee waivers
  • Availability of new account types

This article is general information only and is not financial advice. It does not take into account your objectives, financial situation, or needs.

This article is general information only and does not constitute financial, investment, legal, or tax advice. It does not consider your objectives, financial situation, or needs. You may wish to seek personalised advice from a licensed professional before making financial decisions.

Choosing a Low-Fee Bank Account in Australia (2025 Checklist) | PrimeRate Finance | Finov