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Thirteen truly fee-free bank accounts

21/04/2011

Banks offering fee-free transaction accounts are reporting strong growth in customer numbers.

ING Direct said 90,000 customers have opened Orange Everyday accounts with them, a fee-free transaction account that was launched early last year.

National Australia Bank launched its fee-free offer, NAB Classic Banking, in January last year. It said it has seen a 10-fold increase in the rate of new account openings since then.

Bankwest, Commonwealth Bank, Newcastle Permanent, St George and Westpac have minimum monthly deposit requirements. ME Bank and CUA have limits on the number of free transactions per month.

Source: Banking Day



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