What Is The Best Account for Everyday Transactions?

realsniper09 on 10/05/2017 - 19:18

I want to open an everyday transaction account for me and the wife (joint), one which we will use for all our payments, bills, everyday expenses etc…

We'll still have our own long-term bank accounts (I'm with CommBank, her with HSBC) where we will deposit our pay mainly, before transferring over.
Now, I use CommBank GoalSaver but now their interest has totally dropped away, so an extra benefit may be to switch most, if not all my savings into that new bank's savings account as well.

What I'm looking for is a good, easy website interface to view transactions, and real-time transaction history. I know CommBank has this, but haven't experienced the other bank's interface yet. Fee-free is probably a must.

Can anyone recommend something?

Financial

Comments

  • bluesky on 10/05/2017 - 19:38
    +2

    I think ING has a great transaction/savings account combination. Here is the post on the account. In summary, fee-free withdrawal on any ATMs in Aust, good app/good cust support etc. Yes, I also have the goalsaver, but with the May 1 change - bonus only if no withdrawals - it is no longer useful, and the rate is not even that high.

    The ING savings account interest rate is 3%, much higher than goalsaver has ever given.
    But to get all the benefits, it does require a deposit of $1000 into the savings or transaction acc in the previous month. However, this $1000 does not have to remain in the account.

    Not only that, if you use the random referrer in the post to open an account, you will get at least $75, maybe even $100 - depending on the referrer's code.

      • bluesky on 10/05/2017 - 19:51

        Yes, send it straight to the Savings Maximiser account - which maximises your interest and save you having to do the move. I do this every month. You will be eligible for the bonus.

        • bluesky on 10/05/2017 - 20:05
          +1

          @Gerbil: That should be fine too, according to the T&C :

          The ATM Rebate offer will apply for the next calendar month when a deposit of at least $1,000 from an external bank account is made to any personal ING DIRECT account in your name (excluding Living Super) by the last day of the preceding calendar month. The ATM fee charged by the ATM operator is rebated immediately following the transaction. The ATM Rebate offer may be changed or withdrawn at any time at ING DIRECT's sole discretion.

        • SimbaGirl on 10/05/2017 - 22:36
          +1

          @Gerbil: Yes, can confirm this. I have my pay credited directly to my Savings Maximiser account and get the bonus interest and the free ATM withdrawals. I only transfer money into my Orange Everyday account when I want to withdraw cash or need to BPay something.

        • dingdong3000 on 11/05/2017 - 09:25
          +1

          @Gerbil:
          Yes

  • [Deactivated] on 10/05/2017 - 19:43
    -3

    cash

  • E5TOQUE on 10/05/2017 - 20:45
    +3

    Best Bank Accounts for everyday transactions:

    They all offer some form of free ATM Withdrawals from any bank
    They all offer Android Pay
    They all have very good apps
    They all have decent customer service
    They all have transactions that appear almost straight away online and apps.

    • forumninja on 10/05/2017 - 22:10

      Bankwest offers ATM deposits and brick & mortar branches, Macquarie and ING doesn't.

      Macquarie and ING offer Apple Pay, Bankwest doesn't.

      • E5TOQUE on 11/05/2017 - 04:50

        ING offers Bank@Post so any Australia Post branch is your 'branch'.
        Macquarie doesn't offer any of this, but they do have offices in Sydney and Melbourne from memory you can go into and deposit money if you need to.

    • inherentchoice on 11/05/2017 - 03:18
      +2

      +1 for Macquarie. They give you $0.50 per $100 EFTPOS withdrawal. And the linked savings account permits direct debits and external transfers, whereas ING does not.

      • E5TOQUE on 11/05/2017 - 04:52
        +1

        ING Savings account has a higher interest rate then Macquarie offers.

  • roundnumbersonly on 11/05/2017 - 08:11

    I'm about to go and open up an account with Bank of Queensland. Apparently there's no fees at all, but that probably means you won't be earning any interest.

    https://www.boq.com.au/day2day.htm

    • bluedufflecoat on 11/05/2017 - 08:25

      wouldn't an ING direct account be better? No fees (as mentioned above).

      You can still earn interest on the savings maximiser account (and the app lets you transfer funds between the transaction account and savings account in seconds, literally).

      And you still get the 1x referral credit (~$100) if you deposit $1000 into the account.

      • John Kimble on 11/05/2017 - 08:46

        ING app much better than BOQs too

  • ilikeradiohead on 11/05/2017 - 13:42

    With regards to apps, I've banked with the big 4 + citi, macquarie, bankwest and st George. Commbank easily has the best app/website. The others are catching up but Commonwealth is still ahead of the game. I haven't used macquarie much but I would think that theirs is second, with a bonus feature that it notifies you when you make a transaction (or possibly just OS transaction as I was in HK when I tried it) which will assuage the more paranoid users.
    Citi has the worst app and website if anyone was wondering.

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