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Finding the best bank account can save you hundreds on fees and connect you with the very latest in smart banking technology. Compare bank accounts from a wide variety of providers with Savvy to find the very best offers available on the market right 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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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.
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.
International exchange rates and transaction fees can mean the difference between splashing out on indulgent restaurant meals or having takeaway every night when you’re on holiday. If you prepare in advance and find yourself the best fee-free travel bank account, you can save hundreds on overseas transaction and ATM fees and have more left to spend on luxuries. Savvy offers free comparisons to help you find the best travel account to suit your needs.
Smaller banks and neobanks have started offering travel bank accounts in response to demand for a cheaper way for Aussies to access their funds overseas, particularly in relation to high overseas ATM and international transaction fees. These accounts are accessed through a mobile app and sometimes an online platform, depending on which bank you choose. They offer a far cheaper travel finance solution to students, travel enthusiasts and everyday Aussies venturing overseas, combining low or no fees, convenient currency management, ease of use and peace-of-mind security features.
Most have a travel card linked to the account, either Visa or Mastercard, which allows you to use ATMs to withdraw cash overseas and pay for goods and services wherever you are with no expensive transaction fees hanging over your head. Many offer free ATM access in most countries or a free cash withdrawal limit, after which you’re charged a percentage fee to use overseas ATMs. Some also allow you to load your card with overseas currency before you leave, so you’re able to choose an exchange rate which is advantageous to you in advance.
Some more of the features currently offered by travel bank accounts include:
However, for all the convenience of travel cards, there can be hidden fees to watch out for. Some cards are free to use on a weekday but charge you to use the card on a weekend. Some are fee-free, but others charge a monthly fee to use the app. Others charge a premium per ATM withdrawal if you exceed the free withdrawal allowance per month (which is often between 2% and 5% of the value of the transaction). For this reason, it’s important to compare travel bank accounts and apps with Savvy to find one that offers you the features and cost structure that will best suit your travel plans.
If a travel bank card or banking app isn’t your thing, there are plenty of other options which may be best for you when travelling overseas. Some of these include:
A global currency bank account and linked card
Also known as an international account, this is a regular everyday transaction account offered by many of the major and smaller banks in Australia. A global account allows you to have a linked credit or debit card to enable you to withdraw cash from overseas ATMs, often free of charge or with a set number of free overseas ATM transactions permitted per month. They often have no fees for international transactions and allow you to make and receive payments in many different currencies. You can also hold payments in different currencies and choose to convert the funds to Australian dollars when the exchange rate is right for you.
An international pre-paid travel money card
These Mastercard or Visa debit cards allow you to load up your card with Aussie dollars before you leave and convert them to the currency of your holiday destination when the time is right. You’ll be able to use the card to pay for drinks, meals and trips in the currency of the country you’re in, so you can keep tabs on exactly how much you’ve spent. Any unused foreign currency can be left on the card for use another time or converted back to dollars at a time when the exchange rate is favourable. One major advantage of such a card is that it isn’t linked to your other bank cards or accounts, so if it’s lost or stolen there won’t be any access to your main accounts.
Traveller’s cheques
These are paper documents which you buy in advance of your holiday in the currency of your choice. You can cash them in for local currency at most overseas banks and airports. Before the internet and mobile banking, traveller’s cheques were the most common form of currency for people on holiday in foreign lands, with their main advantage being they were individually numbered and insured, protecting the owner from theft as a result. However, traveller’s cheques have largely been replaced by travel debit and credit cards, which are increasingly held in digital wallets.
Our comparison service is free to use, meaning you can compare bank account offers at any time.
You can compare accounts and choose to open one online from wherever you are, at home or on the go.
By partnering with trusted Australian institutions, you can be more confident when comparing offers with us.
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.
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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.
