- WilkoMember@wilkoJoin Date: 2004Post Count: 35
Can anyone recommend a savings account with no account keeping fees? With the way I am structuring my home loan, i need an account that my wife and can use as an every day account. This account will probably have no more than $100 in it at any given time.
thank allchallyParticipant@challyJoin Date: 2003Post Count: 4
We have an account from National with a Yearly fee only. No bounced cheques fees, (thats people bouncing them on me) no maximum tranactions, no internet banking fees etc.
I’m sure other banks offer the same. Just go & ask, it may suprise you.
Challytribe_of_danParticipant@tribe_of_danJoin Date: 2004Post Count: 22
http://www.Infochoice.com.au is a great resource to find all sorts of rates and fees associated with many different banks.
[email protected]balooParticipant@balooJoin Date: 2003Post Count: 122
For what you need, the HSBC Online account sounds perfect.Robbie BMember@robbie-bJoin Date: 2004Post Count: 2,493
I use an ANZ account for personal use. There are absolutely no ongoing fees. It does not pay any interest either. I use ING Direct for interest bearing accounts although BankWest has one that pays more. Either one of these accounts also requires a standard transaction account like my ANZ one to access the money.
Mortgage AdviserhifloMember@hifloJoin Date: 2005Post Count: 33
I probably recommend HSBC.
HSBC has unlimited free transactions.
ANZ bank has only 6 free transactions per month.
Both accounts have no interest, except that HSBC has interest rate of 4.5% if the balance is $2000 or more.Liz2005Member@liz2005Join Date: 2005Post Count: 29
Bankwest will give you 6% for one year with money at call
Liz2005brahmsParticipant@brahmsJoin Date: 2004Post Count: 485
I’d focus on finding an account with no transactional fees – Heritage?? from memory may suit.
If your only wanting to hold $100 max in the account at any time, well, the interest earnt whether its 5.25 or 6% is totally irrelevant.
Purveyor of Fine Finances
aka Mortgage Broker BrisbaneMarvinMember@marvinJoin Date: 2003Post Count: 24
How about if you were wanting to put up a $10k savings. I heard quite a lot about compound interest saving. Which kinda savings account would that be akin to within the banks? What would you guys recommend in that situation?
I’m currently using Westpac One, which gives me 2 accounts. one transaction account for everday stuff, no transaction fees and includes internet and phone banking. The second account is a savings account that gives 4% per anum, calculated every month, so long as you do no withdrawals from that savings account that month.
Another tip, Wilko. If you still have your student card unexpired, you can get savings accounts from banks as a student, thus waving all transaction and upkeep fees.
My Commonwealth savings account was created when I was still a student. I went to update my information, and the clerk told me NOT to change it. Its free transactions and no upkeep, why change it… she said.Robbie BMember@robbie-bJoin Date: 2004Post Count: 2,493scotty3Member@scotty3Join Date: 2003Post Count: 54
I find ING great. Money always at call, min. balance $10 to start, no fees and you can have up to 9 separate accounts under one name – great for AIPs and budgets. Currently @ 5.75%.tribe_of_danParticipant@tribe_of_danJoin Date: 2004Post Count: 22
I have 9 accounts with ING Direct Savings Maximizer and find it great. Did you know ING’s rate changed recently to 5.40% (Variable)?