online savings account FAQs.


How does an Online Savings Account work?

The Online Savings Account is designed to help you save money with a high interest rate, while giving you access to funds when you need it. Simply link your Online Savings Account to any other bank account in the same name (where your account is held in joint names your nominated account must also be in the name of the joint account holders).


Who can open an Online Savings Account?

Anyone who’s at least 12 years old, is opening the account for personal use, and who fits one of the following categories:

  • an Australian citizen
  • an Australian permanent resident 
  • an Australian resident for taxation purposes, with an Australian residential address

Anyone applying for an account needs to personally complete their application. No ifs, ands or buts.


Can I open an Online Savings Account for business use?

No, this account is specifically for personal use only.


Can I open an Online Savings Account if I am not a member of a super fund or union?

Yes.


How much money do I need to open my account?

There is no minimum balance. You earn high interest on the full balance of your account.


How long will it take to open my account?

You can open your account straight away online provided we can successfully ID you. 


Will my Online Savings Account appear on Online Banking?

Yes, you will be able to view all your transactions once you have registered for our internet banking services. You will also be able to deposit and withdraw money using internet banking.

If you already have access to our internet banking services, simply use your same customer ID and access code.


How do I deposit money to my Online Savings Account?

You can make deposits whenever you like by transferring money from your nominated linked account using internet banking. You can also make deposits from an non-nominated account i.e. an account that is not currently linked to your Online Savings Account.


How do I withdraw money from my Online Savings Account?

You can withdraw money by transferring funds to your nominated account any time via Internet Banking.


Are there any fees on my account?

No, our Online Savings Account comes with absolutely zero bank fees!


Will I be informed if the interest rate on my Online Savings Account changes?

Yes, you'll receive notice in your statements. Our website will also feature the most up-to-date interest rates, or you can call us for more information.


How do I meet the bonus interest condition of making a weekly purchase using tap and go?

You’ll meet the condition for the month if you make one tap and go purchase:

  • every successive 7 day period (1st day of the month to the 7th, 8th to the 14th, 15th to the 21st and 22nd to the end of the month), OR
  • every calendar week (e.g. Monday to Sunday) ending within the month

To keep it simple, just use tap and go at least once every Monday to Sunday and you’ll always get bonus interest.


I’ve been making my tap & goTM purchases – why can’t I see the bonus interest rate?

The bonus rate won’t show up on internet banking until the last few days of the month; and it’ll only show up then if you’ve actually qualified for the rate.


What is my BSB number?

The BSB for our Online Savings Account is 944 600


How can I tell if I got paid the bonus interest rate?

At the end of the month, if you qualified for the bonus you’ll see two interest payments: one for your base interest rate, and one for the bonus


How often will I receive statements for my Online Savings Account?

Statements are issued six monthly at the end of  June and December.


Can I pay bills from my Online Savings Account?

No.