03.Debit accounts - the way to go!
The number of accounts with debit facilities (
Visa or more recently
MasterCard debit) is growing, and we recommend you take up the option if available.
With a debit card, selecting credit and signing when making purchases at retailers instead of using EFTPOS, your transaction will be a
Visa or
MasterCard transaction, and will be fee free.
If you can properly combine
Visa or
MasterCard debit with your free transactions or rebates, you can minimise or completely eliminate transaction fees.
Most credit union and building society accounts have
Visa debit, and banks offering the facility on many accounts include:
ANZ,
Adelaide Bank,
St George/ Bank SA,
BankWest, Bendigo Bank, Elders Rural Bank, HSBC, Suncorp and
Westpac. Check the debit facility is available with the account you want.
Some institutions offer MasterCard debit, they include
BankWest and
Westpac.