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TRANSACTION ACCOUNTS

Whether you bank electronically online or prefer to pay-as-you-transact or if you even wish to earn interest on your account balance, we give you all the information to help you choose the account that’s right for you.

Most Transaction Accounts in New Zealand come with a monthly base fee, but this is usually waved for under 18's. Lenders also give you the chance to have this fee waived or reduced if a required minimum balance is held each month. This acts as a great incentive to save and usually at a high rate of interest similar to that of a saver account.

Before you start to look for your ideal account, make sure you know which features you require. If you want the flexibility of unlimited transactions for a flat monthly fee, plus the opportunity to earn interest on credit balances, then it’s best to take a look at the Premium Accounts on offer. If you're looking at cost-effective ways to bank and prefer doing your day-to-day banking electronically then there are many accounts available within the Standard Accounts section.

If you know your credit rating, select it by hovering your mouse over the panel to the right and clicking on the appropriate rating. If you don’t know your credit rating, click the button to calculate it for free. This will match up your rating with lender appetite to give you the best chance of success with your application.

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HSBC Everyday Account - 3%

APPLY TODAY
Find out more & apply online now
  • Bank in branch or using the internet
  • $15 monthly fee
  • Earn interest on every dollar
  • Minimum opening balance of NZD 25,000

The HSBC Everyday Account offers free internet transfers and bill payment transactions within New Zealand. You will also benefit from free ATM transactions at any HSBC or Westpac ATM and Free EFTPOS transactions all for $15 per month. To be eligible to open the Everyday Account you will need to deposit a minimum of $25,000. Once the account is active, by registering for internet banking you will be able to open an e-saver account where a high rate of interest can be earned.

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TSB Bank Connect Account - 2%

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Find out more & apply online now
  • Bank in branch or using the internet
  • No monthly fee
  • Earn interest on credit balances
  • Open an account with $1,000 or more

To open the connect account you will need to deposit at least $1,000. You will earn a healthy interest rate of 2% p.a. on all deposits above this amount which is paid to you each year on the 31 March. You will pay no monthly management fees or bank operated ATM or EFTPOS transaction fees. You will also have full use of TSB Banks mobile banking app and online banking service allowing you to make payments and transfers between accounts.

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ASB Unlimited - 1% - 2.75%

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Find out more & apply online now
  • Bank in branch or using the internet
  • $12 monthly fee
  • Earn interest on credit balances
  • Unlimited transactions

You will benefit from an unlimited number of transactions per month and will have full use of ATMs, EFTPOS and cheques, as well as ASB branches, phone banking and FastNet Classic for a monthly fee of $12. Credit balances will earn interest which is calculated daily and paid back into your account on a monthly basis. For balances up to $100,000 will receive an interest rate of 1% p.a. and anything over this will receive a rate of 2.75% p.a.

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BNZ YouMoney - 0%

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Find out more & apply online now
  • Bank in branch or using the internet
  • $5 month fee (Fee waived for students & under 18’s)
  • Unlimited transactions included
  • No credit balance interest rate

The YouMoney account from BNZ offers a simplified and affordable way to bank, especially for students. For $5 per month you will receive up to 25 YouMoney accounts with unlimited transactions, Personal OnCall savings accounts and intuitive online banking. Student's and under 18's will pay no monthly fee and will have the option to apply for an interest-free overdraft of up to $2,000. You may even be eligible for further discounted rates on personal loans.

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Kiwibank Free Up Account - 0%

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Find out more & apply online now
  • Bank in branch or using the internet
  • No monthly account or electronic transaction fees
  • Receive bank statements online or by email
  • No credit balance interest rate

KiwiBank's most basic account, the Free Up offers an affordable and simplified way to bank. To benefit from paying no monthly account or electronic transaction fees, you must agree to receive all statements online or via email and must also have internet banking. The account comes loaded with a host of smart money management tools such as 'Goal Tracker' and 'Sweep', allowing you to automatically move funds when the account reaches your chosen minimum or maximum amount.

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Kiwibank Now Account - 0%

APPLY TODAY
Find out more & apply online now
  • Bank in branch or using the internet
  • Choice of fee plans, to match the way you bank
  • Overdraft available
  • No credit balance interest rate

Kiwibank offer two different fee plans to suit the way you bank. If you frequently use your account to make transfers, deposits or withdrawals, then for only $5 per month you can enjoy unlimited transactions. Kiwibank also offers a pay as you go option, allowing you to pay for the withdrawals made from your account. So you won't have to pay a monthly account fee or transaction fees for deposits or transfers between Kiwibank accounts. Full time tertiary students, under 19's, Kiwibank home loan customers and for those who receive New Zealand Superannuation and have it paid into their Kiwibank personal account will all pay no account or transaction fees.

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ASB Streamline Introduction - 0%

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Find out more & apply online now
  • Bank in branch or using the internet
  • No monthly fee
  • No fees on electronic or manual transactions
  • No credit balance interest rate

Switch to ASB and receive six months fee-free banking. Switching couldn't be easier with a dedicated personal switcher who will take care of everything for you. Even after six months you will still pay no monthly base fee, electronic transaction fees and bill and automatic payment fees as long as you stop receiving paper copies of your statements in the mail. An overdraft of up to $1,000 can also be applied for upon approval.

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ASB Streamline - 0%

APPLY TODAY
Find out more & apply online now
  • Bank in branch or using the internet
  • No monthly base fee if you stop your paper statements
  • Pay no fees on electronic transactions
  • No credit balance interest rate

ASB have waived the monthly base fee if you bank on a monthly basis without receiving paper statements ($3.50 per month with paper statements). You won't have to worry about paying transaction fees when you use EFTPOS and ASB ATM machines as they are both inclusive. You will only be charged if you withdraw funds from another bank's ATM or choose to deposit or withdraw funds over the counter at an ASB branch ($3.00 per transaction). Unlike similar accounts on offer, the Streamline account fails to pay interest on the account balance.

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Westpac Electronic Account - 0%

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Find out more & apply online now
  • Bank in branch or using the internet
  • $3.50 monthly fee
  • Free electronic transactions
  • No credit balance interest rate

By banking online, through EFTPOS or using Westpac ATMs and if you choose to waive your monthly paper statements, you will pay no transaction fees. If you do require your paper statements then you will be charged $3.50 on a monthly basis. Superannuitant's or under 19's can still receive paper statements and not pay the monthly account or transaction fees on the account. Once the account has been set up you will automatically be registered for phone and online banking.

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Westpac Access Account - 0%

APPLY TODAY
Find out more & apply online now
  • Bank in branch or using the internet
  • Potential to have all fees waived
  • Overdraft available
  • No credit balance interest rate

With the Westpac Access account you have the choice to either pay a flat fee ($9.95) each month or per transaction you make. If you have other accounts, savings or loans with Westpac, they offer a tiered system where they will reduce your flat fee or waive it altogether depending on the amount of investments you have with them. If you have between $25,000-$99,999 of total personal banking with Westpac they will reduce the monthly fee to $5. If you hold over $100,000 then they will waive this fee.

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