03 August 2012 6:40am

ME Bank is hoping to capitalise on new account-switching rules, with a number of changes to its EveryDay transaction account.

The bank has dropped the $5 a month account-keeping fee. A limit of 15 free monthly ATM transactions has also been dropped.

Under new account-switching rules, introduced on July 1, the task of transferring direct entry arrangements from one financial provider to another passes from the customer to the financial institution.

Customers will sign a document authorising their new financial institution to execute such transfers on their behalf. The...