Compare debit Mastercards here with Savvy so you can confidently find a card that perfectly fits your spending needs.
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If you are looking for a debit card, use our table to compare Australia's best debit card offers with $0 monthly fees, free ATM withdrawals, cashback offers, budgeting apps, security features and much more. Start your debit card search with us now.
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Use invite code SAVVY10 for $10 upon successful sign-up. (Refer to offer T&Cs on Up website)More details |
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ING Orange Everyday |
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Rebates on ATM fees anywhere in Oz. No ING international transaction fees. Zero monthly fees.More details |
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No monthly account fees ever, with no conditions. Free use at over 7,000 ATMs around Australia. No overdrawn fees if you happen to go over your account balance. Open an account in less than 7 minutes.More details |
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Get $40 with a new Complete Freedom everyday bank account.More details |
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Westpac Choice |
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Westpac Choice for easy day-to-day bankingMore details |
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You should always consult a given offer's PDS or further documentation in the process of deciding on which loan to choose, as well as seeking independent, professional advice. If you decide to apply with one of the lenders listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the lender offering that product.
Are you thinking of getting a new debit card and want to know what the differences are between various types of Mastercards? Savvy can help you choose which type of Mastercard will be the best one for your needs. You can compare a range of cards here with Savvy and compare card features so you’re able to choose the best card for your needs with confidence. Start the process with us today and get the wheels in motion on your new card before you know it.
Mastercard holds the title of the world’s second largest financial payment services company (behind Visa), with an estimated 200 million people around the world owning one of their cards. They are a fintech company that facilitates payments between customers, merchants and banks in over 210 countries.
As well as providing a payment network to move money around, they supply a wide range of cards to banks and other financial institutions and retailers. Their cards include credit and debit cards, prepaid, travel and gift cards.
Mastercard does not extend credit or issue cards directly to the public, but rather has a co-branding relationship with a large number of banks, financial institutions and retailers around the world. These partners, in turn, issue Mastercards to their own customers, and pay Mastercard a data processing service fee to use their payment network. This fee is based on the volume or dollar value of transactions made, and is the main source of Mastercard’s income worldwide.
The cashback offers and rewards that come with various Mastercards are determined by the bank or financial authority issuing the card, rather than by Mastercard itself.
When choosing a new debit card, it’s important to ensure the bank account linked to the card is suitable for your banking needs. Read the terms and conditions carefully so you understand how the bank account works. These are some of the other features of a debit card you should consider:
Fees
Although most debit cards are issued fee-free, there can be fees associated with the use of the card. Watch out for overdrawn fees if you accidentally take your card balance into the red (often around $30 – $50), and also for foreign transaction fees and ATM fees charged if you use your card overseas.
Cashback offers
Some banks and financial institutions offer immediate cash back when you open a new transaction bank account and take out a linked debit Mastercard or Visa card.
Reward and frequent flyer points
These are offered by individual banks and financial institutions to attract new customers to spend their money. These benefits range from frequent flyer points and other airline reward points, to unique deals on concert and movie tickets, and special offers on PayTV and subscriptions. It pays to compare the various reward programmes and choose one that will benefit you the most without requiring you to alter your regular spending habits. Choose a reward program affiliated with your favourite supermarket and airline so that you can maximise your points just through regular spending and paying bills.
Withdrawal and spending limits
Many debit Mastercards have daily withdrawal and transaction limits. For example, there may be a daily transaction limit of $2,000, or a $1,000 cash withdrawal limit at ATMs. If you contact your bank via online banking or a mobile app, you can frequently request an increase in these daily limits. If raising your limit is not an option, you might have to spread out your larger withdrawals or payments across several days.
Security and purchase protection
Make sure your debit card can be locked through online banking or a mobile app. It is better to be able to do this immediately yourself, rather than having to phone a card fraud hotline if your card is lost or stolen. Also, compare what additional purchase protection is offered with your debit Mastercard. This card protection can reimburse you if an item you purchase is stolen or damaged in transit. Some protection schemes also increase the length of the warranty offered on a purchased item.
These are the main differences between debit cards, credit cards, travel cards, prepaid debit cards and gift cards:
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We partner with reputable Australian banks and institutions to help you choose with more confidence.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
