Online Savings Account terms and conditions
Everyday Transaction Account terms and conditions
Fees and charges guide
1. Interest rate is current at
Date Display Widget (C#)
01-Mar-2019 and subject to change.
2. Online Savings Account (OSA) variable bonus interest terms and conditions.
To receive bonus interest on your OSA for any calendar month you must have a ME Everyday Transaction Account (ETA) and during that month we process at least one purchase you make with your ETA debit Mastercard® per week using tap & go™. Bonus interest is only payable on balances up to $250,000 on the first OSA you open. You’re automatically eligible for bonus interest on your first OSA unless it was opened before 10/08/15, in which case you’re only eligible upon request. Purchases made in a calendar month which are processed in the next calendar month (for reasons beyond our control) are not eligible purchases for bonus interest. If you don’t meet all of these bonus interest conditions you’ll receive variable base rate interest only, however in any month we may without notice waive the requirement for you to meet all of these conditions. We may change or withdraw the bonus interest offer at any time.
3. Free ATM access terms and conditions.
Open your new
Everyday Transaction Account & receive a refund on fees incurred at all ATMs in Australia within 30 days of the transaction. We may change or withdraw this offer at any time.
Your total deposits in ME are protected up to a limit of $250,000. This protection is provided as part of the Financial Claims Scheme (FCS), which is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. For more information about the FCS go to
www.fcs.gov.au
Terms, conditions, fees and charges apply.
This is general information only and you should consider if these products are appropriate for you.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Savings Calculator Information:
The results from this calculator are indicative only and shouldn’t be used for financial planning purposes. The calculation is based on the information input by you and assumes you qualify for the OSA bonus interest rate each month, the interest rate doesn’t change, you deposit the daily required savings each day and interest is calculated and paid in accordance with the OSA terms and conditions. This is general information only and you should consider if these products are appropriate for you.
Award notes
ME took out the Finder Award for Best Savings Account with the best interest rate across the year. It was the highest interest rate, taking into account the base rate and bonus rate, averaged across four quarters between September 2017 and June 2018
Money magazine, Money Minder of the Year is awarded to the provider most likely to have an account that delivers value for money and includes personal transaction accounts, children’s accounts, regular saver accounts, online saving accounts and term deposits
Mozo Experts Choice Award: The awards recognise products that deliver exceptional value or benefits to consumers. Judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Experts Choice Awards are awarded to the top 10% of products that meet the selection criteria in each awards category.
Canstar ranks savings accounts based on value-for-money measures and then awards a star rating according to rank. The top accounts will be awarded a five-star (or outstanding) rating. ME was awarded a 5-star rating in the following categories: Flexible Saver – customers looking to maximize their savings with no restrictions. To be eligible, the account must offer a base rate of 0.50% or higher on a balance of $25,000; and Regular Saver - for more active savers who are willing to meet stricter conditions to achieve higher levels of interest. To be eligible the account must offer a total rate (base plus conditional bonus rate) of 1% or higher on a balance of $10,000.