Bank Accounts Maintenance

As we’re doing our bank accounts clean up, and maintenance, I’ve listed the banks minimum monthly deposits for debit accounts:

WBC: 2K / ANZ: 2K / CBA: 2K / NAB: None / Macq: None

Since WBC is most convenient for us, we’ll retain EKShared and Monthly, so will keep 2 debit accounts. Both will have Kathy’s Salary allocations. Not necessary for Savings.

For ANZ and CBA, we’ll close the debit accounts and instead open new joint Savings accounts so that we don’t get charged monthly, and we retain access to the banks. All funds will remain in ING Offset Acct.

For NAB, no monthly fees so we’ll keep. We’ll also open new joint Savings.

For Macq, no monthly fees so we’ll keep. Not necessary for Savings.

KP needs access to a debit card, but preferred separate from WBC Monthly, and BP needs a dedicated account, but can be a Savings account. Macq is starting to focus all transactions online, so most likely Macq will be funds transferred online, and tap as necessary. NAB can no longer make cash deposits to ATM, and customer service is crap, so most likely the debit/Savings account will be for BP.

HSBC is too restricted and digital security key is annoying, so will be closing all accounts.

Our preferred banks is WBC and Macq for debit and Savings. ANZ and CBA will be Savings only. No debit cards. NAB debit card will be idled, and Savings account for BP access. HSBC we’ll be closing all accounts.