Transaction accounts – choose wisely

The Australian Bankers’ Association (ABA) has updated and re-published its consumer booklet – “Smarter Banking: Make the most of your money.” The booklet advises that before you can decide which bank account is right for you, first you need to know what’s on offer.

Transaction accounts are for your everyday banking needs, whether it’s somewhere to deposit your pay, or an account to use to pay bills or do some shopping. Some transaction accounts offer unlimited transactions, while others offer a set number of free transactions, and charge for any transactions over this limit.

The Smarter banking booklet can be found at www.bankers.asn.au/smarter-banking/default.html.

Source: Australian Bankers Association

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