The banking hack that’s saved Aussies over half a billion dollars

_{Feature image above: NAB customer Isabella Carlini-Rath said It’s helpful not being stung with account fees, that’s one of the reasons she opened a transaction account with NAB.}

_{Updated 04.08.2025 | First Published 29.07.2025}

• NAB’s zero-dollar fee transaction account has saved over 7 million customers more than $500m
• The account remains the only zero fee transaction account offered by a major bank in Australia
• Over one-in-four Australians have a better understanding of their finances

Since its launch in 2010, NAB’s zero-dollar fee transaction account has saved customers more than half a billion dollars, putting real money back into their pockets.

As cost-of-living pressures continue to challenge household budgets, NAB research reveals one in four Australians now feel more informed about their personal finances compared to a year ago. Encouragingly, nearly half say they’re more confident in seeking out better value products and services.

How does this look in practice? The most common money moves Australians are making right now are*:

1. Ditching fees on transaction banking accounts

More than seven million Australians have signed up to NAB’s zero-dollar fee transaction account, saving customers a combined $500 million in account fees since 2010. It remains the only fee free transaction account offered by a major bank in Australia.

5. The great “subscription audit”

More than one-in-three Australians say they’ve cut back on food delivery, saving an average of $92 per month, while a similar number have reduced paid streaming services, saving about $31 per month. Together they form part of a growing “subscription audit” trend as people reassess recurring, convenience-based spending.

NAB customer Isabella Carlini-Rath said she’s trying to rein in those ‘treat me’ moments, spending less when she eats out and thinking twice before tapping.

“I’ve definitely been feeling the pinch lately,” Isabella said.

“I used to buy takeaway coffee every day, but now I’m cutting back.

“And I’ve been using the NAB app to go through my upcoming recurring payments and check what’s actually coming out each month. There were a few subscriptions I thought I had cancelled – music, food delivery, video streaming – but they were still charging me. It really adds up.”

“We know people are feeling the pinch, and we want to support smart money choices. That’s why we’re focused on products like our transaction account that has no monthly account fees – because every dollar counts.”

“Australians are getting smarter about how they spend and save. From cancelling unused subscriptions to switching to fee-free accounts, these small moves are adding up to big savings.”

Ms Young also notes that consumer stress has dropped to its lowest point in two years, thanks to easing cost-of-living pressures and growing hope around more interest rate cuts.

“There’s still stress out there, but this is the first time we’re seeing evidence that there is light at the end of the tunnel with Aussies feeling cautiously optimistic and a little more in control of their finances.”

Notes to the Editor:

• *According to NAB’s latest Consumer Sentiment report and a banking hack that’s saved Aussies over half a billion dollars in account fees since 2010.

Learn more about NAB's Classic Banking Account

Our everyday account has no monthly account fee and is fast, easy to open and convenient to use.