Debit cards often get compared to credit cards in terms of convenience and access to funds but when it comes to fees there can be significant differences.

While debit cards do not have annual fees, unlike most credit cards, they can sometimes lead to monthly account fees that add up as the year goes on.

These fees tend to depend on the bank and the kind of account that is chosen, rather than the actual debit card.

The ANZ Access Advantage, for example, comes with a $5 monthly account fee in exchange for unlimited financial access through the Visa debit card as well as branches and internet banking.

The St George Complete Freedom account has a similar $5 monthly account fee but will waive the charges if $2000 or more is deposited every month, so for people who use this account for their wages should be able to avoid paying any fees.

This fee-free options is one of the most common conditions to come with a debit card account, with other banks like Bankwest and the Commonwealth Bank similar deals.

Monthly Fee Free Debit Card Options

There are still a number of different accounts that will not charge any monthly fees and provide the convenience of a MasterCard or Visa debit card free of charge.

Accounts like NAB’s Classic Banking and Suncorp’s Everyday Basics, for example, come with Visa debit cards, unlimited monthly transactions and no monthly account fees.

Similarly, Citibank’s Plus account has no annual fee, unlimited transactions and free international transaction options with a Visa debit card.

It also provides cardholders with the chance to get a complimentary bottle of wine when dining out through the Citibank Dining Program.

Every debit card account comes with different services and conditions, so whether or not there is a monthly fee can often depend on what account is chosen.

To help avoid these kinds of fees it is a good idea to compare a few different debit card options and accounts so that you can find the most convenient and affordable debit card for you.