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The everyday offset allows you deposit your salary into the account and transact like any normal transactional bank account. The MISA is more of a dedicated savings account as you can only transfer minimum amounts of $500 in and out from another CBA account. You can't use it on a day-to-day...

I just received the formal announcement:

I suspect the fee is a deterant to avoid being overwhelmed with applications for the new offset. Can you imagine how their processing centres would look if one million customers rang up asking for a new offset account?

You can have one account for your day to day needs, another for your longer term savings. I know people who budget very tightly using multiple accounts. There's one for weekly bills such as groceries, another for quarterly such as utilities, another for annual such as rates and insurance...

On the day it's officially released, I expect there'll be a huge amount of discussion from the brokers on the forum. Until then, if you want to hold your breath, make sure you make a video and post it on YouTube for fun! :)

I've been using a debit card in one form or another for over 20 years without issue. My credit card was potentially compromised once but the bank knew about that before I did and took action. Some people don't like the temptation of having their savings immediately accessable to their card...

In 2020... One of my favorite quotes from, "Chasing Amy". Appologies for the language and completly political incorrectness... http://youtu.be/hTKTh2MRm-w