Best Bank Accounts Australia — No Monthly Fees (2026)
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Contents
The best everyday bank accounts in Australia are those with no monthly fees, no minimum balance requirements, and competitive features. Contrary to what many Australians expect, the Big Four are not always the best option here — several challenger banks and neobanks offer genuinely fee-free accounts with strong app features.
Key Takeaways
- NAB Classic Banking is the only Big Four account with no monthly fee and no conditions
- Ubank, Up, ING, and Macquarie all offer fee-free accounts
- Most Big Four accounts waive their monthly fee if you deposit $2,000+/month (which most salary earners meet)
- The best account for you depends on whether you need branch access, international spending, or a linked high-interest savings account
Accounts With No Monthly Fees (No Conditions)
| Bank | Account | Fee | Notable features |
|---|---|---|---|
| NAB | NAB Classic Banking | $0 (no conditions) | No fee, no minimum deposit |
| Ubank | Spend account | $0 | Linked High Interest Save |
| Up | Up Everyday | $0 | Rounding, saving tools |
| ING | ING Orange Everyday | $0 | Rebate on ATM fees (with conditions) |
| Macquarie | Macquarie Transaction Account | $0 | Strong app, linked high savings |
| HSBC | Everyday Global Account | $0 | Multi-currency, no overseas fees |
| Revolut | Standard plan | $0 | Multi-currency, instant transfers |
Big Four Accounts — Fee Waiver Conditions
| Bank | Account | Fee | Waiver condition |
|---|---|---|---|
| CommBank | Smart Access | $4/month | Deposit $2,000+/month |
| ANZ | Access Advantage | $5/month | Deposit $2,000+/month or under 25 |
| Westpac | Choice | $5/month | Deposit $2,000+/month or under 30 |
| NAB | Classic Banking | $0 | No conditions |
For most salary earners, the $2,000/month deposit condition is met automatically by their pay being deposited. If your salary goes directly into the account, you likely qualify for the fee waiver even at CommBank, ANZ, and Westpac.
What to Look For in an Everyday Account
No monthly fee — either fee-free by default or easily waivable with your salary deposit
Contactless and mobile payments — Apple Pay, Google Pay, and Samsung Pay are standard across most major banks
ATM access — check whether the bank charges ATM fees and whether they have their own ATMs or use partner networks. Some banks (ING, with conditions) rebate other banks’ ATM fees.
International spending — if you travel or shop online in foreign currencies, look for accounts with low or no overseas transaction fees. HSBC Everyday Global, Wise, and Revolut are strong options for frequent international spenders.
Linked savings — does the account pair well with a high-interest savings account? ING Orange Everyday + Savings Maximiser, Macquarie Transaction + Savings Account, and Ubank Spend + Save are all well-integrated pairings.
App quality — CommBank has the best-rated banking app in Australia. Up and Macquarie also have strong digital experiences.
Best Account for Different Needs
| Priority | Recommended account |
|---|---|
| Fee-free, no conditions | NAB Classic Banking or Ubank |
| Best app experience | CommBank Smart Access or Up Everyday |
| Paired with best savings rate | ING Orange Everyday or Ubank Spend |
| International travel | HSBC Everyday Global or Revolut |
| Branch access needed | CommBank, Westpac, or Bendigo Bank |
| Under 30, no fees | Westpac Choice, Up, or CommBank (under-25 fee waiver at ANZ) |
Youth and Student Accounts
Most banks offer fee-free accounts for students and young people:
- CommBank: Smart Access with no fee if you are under 18, then standard $4 fee (waivable at $2,000/month)
- ANZ: fee waived for under 25s on Access Advantage
- Westpac: fee waived for under 30s on Choice
- Up: no age restrictions, always free
- Ubank: always free
FAQ
What is the best bank account in Australia? For pure fee-free simplicity: NAB Classic Banking. For the best app: CommBank Smart Access. For pairing with a high savings rate: ING Orange Everyday + Savings Maximiser or Ubank Spend + Save. There is no single “best” — it depends on your priorities.
Can I open a bank account in Australia without a job? Yes. Most bank accounts do not require proof of employment. You typically need ID (passport, drivers licence, Medicare card) and proof of address. Some accounts can be opened before you have an Australian address (useful for new arrivals).
Do I need to be an Australian citizen to open a bank account? No. Most banks accept Australian residents, visa holders, and in some cases, people who are not yet in Australia (ING and HSBC allow you to apply before arriving).
See also: How to Open a Bank Account in Australia | How to Switch Banks
For advice tailored to your financial situation, speak with a licensed financial adviser via MoneySmart.