The ANZ Access Advantage Account is a simple, straightforward and low-cost account. If small print and complicated charges intimidate you this is a good option. The account has a low $5 monthly charge and is even free in some cases, and has an overdraft facility. ANZ ranks at the top the Dow Jones Sustainability index too, so banking with ANZ is reassuring.

Is This the Account For Me?

The ANZ Access Advantage Account is aimed at anyone who needs an account for every day transactions. For a low monthly fee, customers using this account have unlimited transactions. The ANZ Access Advantage Account is particularly useful if you are aged under 18 (parents, this is a good one for your teenager’s first bank account), a full-time student in Australia, disabled, or if you are aged over 60, because the monthly fee can be waived in these cases.

The Advantages of This Account

The account is very simple. There is only one monthly fee and no hidden extras. The only time customers will be charged any more is when they overdraw their account, or use their account from abroad. Additionally, customers can access their account over the phone, online or via SMS on their mobile, so you can check your balance on the go.

Cash can be withdrawn all over the world via ATMs branded with the Cirrus logo, or EFTPOS facilities with the Maestro logo. This is useful if you are planning a holiday, gap year or business trip.

ANZ Access Advantage accounts allow customers to personalise their cash card with an image of their choice to help distinguish it from other cards.

There is an overdraft facility with the ANZ Access Advantage Account, but, if you would rather not use this, or if the account is for a minor who might be tempted to overuse it, there is an option to simply switch off the overdraft facility, online, on the phone or in-branch.

Eligibility

To qualify for an ANZ Access Advantage Account, customers must be Australian residents, with an Australian address. New customers must complete the ANZ Customer Identification Process. For customers who live abroad but are planning to move to Australia, there is an non-Australian resident form.

How Do I Open an ANZ Access Advantage Account?

Opening an account at ANZ is straightforward. While customers can apply in their branch, if you have less time on your hands, you can simply fill out the necessary information online. Applications online are just as secure and the process is quick and easy. Customers will need to demonstrate proof of identity, which can be done using the online form.

For those groups eligible for a free account, there are a few extra steps. Full-time students need to provide proof of enrolment in an Australian education institution, and this will need to be renewed every 12 months. Customers aged under 18 or 60 and over will need to provide proof of age, and customers who receive disability support pensions or mobility allowances will need to demonstrate receipt of these in order to qualify for a fee waiver.

Summary

The ANZ Access Advantage Account is a great option if you are looking for somewhere to keep your everyday funds, an overdraft, easy access to cash at home and abroad, and low monthly fees.