Pay Zero Account Keeping Fees In Australia

h1// Pay zero account keeping fees in Australia

h2// Learn more about account keeping fees in Australia and how you can pay AUD$0 for your monthly account.

Accounting fees don’t need to be a thorn in the flesh. It’s a simple matter of knowing what you’re dealing with and how to get the most out of your fees.

What is account keeping fees?

An account keeping fee is a fee charged by an organisation or financial institution in exchange for granting you the benefit of an account within their organisation. It’s important to note that account keeping fees and interest charged or paid is not the same thing.

The different between account keeping fees and interest

Interest is a fee charged for the use of another party’s money. It can be either the

If an account is a joint account, the claim is limited to your share. It is important to keep a record of the calculation of your portion where the account holders did not share the expenses equally.

If a particular expense was incurred, such as interest on borrowed money, and this expense relates to certain overseas investments (or a foreign residents’ investment in Australia), a claim may be affected by the thin capitalisation rules.

With what banking products can I save on account keeping fees?

Researching different banks and their applicable accounting fees might seem like a tedious job. So, at Finder we’ve done all that so that you can make a decision on a financial product. It will save you a reasonable amount of money!

When making the decision of which bank to use, it is important to first calculate how much you can afford to deposit every month. This tends to determine whether you will pay any account keeping fees whatsoever.

Many banks have removed their monthly fees after consumers seriously started questioning what they were paying for. Here are some of the best accounts which don’t charge a monthly fee, regardless of the monthly