Transaction and savings accounts interest rates, fees, limits and lodgement times

This document provides a summary of the interest rates, fees, limits and lodgement times applicable to the:

  • Transaction Account
  • Offset Account, and
  • Savings Account.

Terms used in this document have the same meaning given to those terms in the Transaction and savings accounts terms and conditions.

You can ask us for more information on interest rates and fees.

Effective 17 March 2021

Interest rates

All interest rates below are current as at 17 March 2021, variable and subject to change. Refer to section 3 of the Transaction and savings accounts terms and conditions for further information on interest.

To view a snapshot of previous interest rates refer to the Transaction and savings accounts previous interest rates card.

Transaction Accounts

Stepped interest is payable on deposits in Transaction Accounts based on your balance as follows:

Balance Variable Interest Rate
Up to $4,999.99 0.00% p.a.
$5,000 - $24,999.99
0.35% p.a.
$25,000 - $99,999.99
0.35% p.a.
$100,000 - $249,999.99
0.35% p.a.
$250,000 - $999,999.99 0.35% p.a.
$1,000,000 and above 0.35% p.a.

Rates are variable and subject to change. Each rate applies to the portion of the total balance that falls within that balance bracket. See section 3 of the Transaction and savings accounts terms and conditions for more information.

Offset Account

There is no interest paid on deposits in Offset Accounts.

Savings Account

Stepped interest is payable on deposits in Savings Accounts based on your balance as follows:

Balance Variable Interest Rate
Up to $24,999.99 0.35% p.a
$25,000 - $99,999.99 1.35% p.a
$100,000 - $249,999.99 1.35% p.a
$250,000 – $999,999.99 1.35% p.a
$1,000,000 and above 0.35% p.a

Rates are variable and subject to change. Each rate applies to the portion of the total balance that falls within that balance bracket. See section 3 of the Transaction and savings accounts terms and conditions for more information.

Bonus offer for new Savings Account customers (applies for the first four months)

Subject to the conditions below, a welcome variable rate will apply as follows:

Balance Rate Type
Variable Interest Rate
Up to $250,000.00 Welcome variable rate 2.65%
$250,000.01 and above Standard stepped variable rate The standard stepped variable interest rates above apply.

Where you have not held a Savings Account before, the welcome variable rate applies for four months from account opening, for the first $250,000 you deposit. The welcome variable rate applies instead of (not in addition to) the standard stepped variable rate that would otherwise apply to that portion of the balance of your Savings Account. Offer available on one Savings Account per person (whether the Account is in single or joint names). After four months, the standard stepped variable interest rates above apply to your Savings Account balance.

We may debit any fees and charges payable under these Terms and Conditions to your Account.

If we incur any government tax, duty or other charge imposed by law in respect of your Account or its operation, you must pay us an amount equal to the charge. You authorise us to debit any such amount to your Account.

 

Transaction and Offset Accounts

Fee type Fee amount

Monthly account fee

Nil

Transactions within Australia

Electronic Services transactions

  • Make Funds Transfers and BPAY® payments through Electronic Services on an immediate or scheduled basis
Nil

Real Time Gross Settlement (RTGS)

  • Transfer funds within the same Business Day to another Australian financial institution (subject to cut off time below)

$30 per transfer

Domestic ATM transactions

If you’re charged a fee at an ATM in Australia, we’ll refund it to your account.

Nil

Withdrawal / balance enquiry

The ATM operator may charge you a fee, shown on screen before you complete the transaction.

International transactions

Access and transfer your funds overseas using a range of global services including Debit Mastercard transactions and real-time access.

ATM balance enquiry

  • Check your Account balance at an international ATM where Mastercard is accepted
The ATM operator may charge you a fee

International cash withdrawal

  • at an ATM, or
  • over the counter,

where Mastercard is accepted and the transaction is permitted by the ATM operator or service provider

$5 per withdrawal

From time-to-time, we may make special offers relating to this fee – contact us for more information.

The ATM operator or service provider may also charge you a fee.

International funds transfer

  • Transfer to an international financial institution account by bank draft or telegraphic transfer – contact us to arrange
$30 per transfer

International purchases

  • Card purchases or transactions made or processed outside Australia (including where the transaction was made in Australia but the merchant is not in Australia)

 

Nil

 

Other fees

Special clearance

  • Fast track a cheque deposited into your Account. Normal cheque clearance times can take up to three Business Days
$18 per cheque

Chargeback

$8 per request

Voucher request

  • Request a copy of a voucher/receipt for a payment you made using your Card
$8 per voucher

Dishonour fee

  • Failed Direct Debits or scheduled payments due to insufficient funds in your Account
Nil

Overdrawn fee

  • We may allow your Account to be debited even if there are insufficient funds to cover the amount of the debit either in full or in part

Nil

Interest will apply at the overdrawn rate – see the Interest Rates section

Transaction investigation fee

We can investigate a transaction on your Account.

Investigation fee

$60 for a complex investigation

$30 for a simple investigation

We will tell you which fee applies when you contact us

Statements

Statements are issued every six months and are available through Electronic Services. You can also view your transaction history and perform transaction searches based on defined periods.

View and print statements online

Nil

Requests for historical or reprints of statements

$7 for a mailed or emailed statement

 

Savings Account

Fee type Fee amount
Monthly account fee
Nil

Electronic Services transactions

  • Make Funds Transfers and BPAY® payments through Electronic Services on an immediate or scheduled basis
Nil

Real Time Gross Settlement (RTGS)

  • Transfer funds within the same Business Day to another Australian financial institution (subject to cut off time below)
$30 per transfer
Other fees  

Special clearance fee

Fast track a cheque deposited to your Account. Normal cheque clearance times can take up to three Business Days

$18 per cheque

Dishonour fee

Failed Direct Debits or scheduled payments due to insufficient funds in your Account

Nil

Overdrawn fee

We may allow your Account to be debited even if there are insufficient funds to cover the amount of the debit either in full or in part

Nil
Interest will apply at the overdrawn rate - see the Interest Rates section

Transaction investigation fee

We can investigate a transaction on your Account.

Investigation fee

$60 for a complex investigation

$30 for a simple investigation

We will tell you which fee applies when you contact us

Statements

Statements are issued every six months and are available through Electronic Services. You can also view your transaction history and perform transaction searches based on defined periods.

View and print statements online
Nil
Requests for historical or reprints of statements
$7 for a mailed or emailed statement

 

Account limits and lodgement times

 

Valid transaction requests must be submitted by the below times to allow for same day processing. If a request is unclear, incomplete or requires additional information, we may not be able to process it on the same day.

 

All times in the table below refer to Sydney time.


Transaction Type Cut off time Processed by us Daily Limit

Funds Transfer from your Transaction, Offset or Savings Account to any of your accounts available via Electronic Services

n/a

Immediately

Up to the available balance of your Account

Funds Transfer from your Transaction, Offset or Savings Account to another Australian bank account1

5:00pm on a Business Day

Same Business Day2

$20,0003

After 5:00pm or on a non-Business Day

Next Business Day2

BPAY® from your Transaction, Offset or Savings Account1

5:00pm on a Business Day

Processed and treated as received by the Biller on same Business Day4

Up to the available balance of your Account5

After 5:00pm on a Business Day or on a non-Business Day

Processed and treated as received by the Biller on next Business Day4

Transfer through Real Time Gross Settlement

12:00pm on a Business Day

Same Business Day

$100,000

Overseas telegraphic transfers6

12:00pm on a Business Day

Same Business Day

Up to the available balance of your Account

Overseas bank drafts6

12:00pm on a Business Day

Collect after:

  • 4:00pm on the same Business Day in Sydney; or
  • 10:00am the next Business Day in all other states.

Up to the available balance of your Account

Card limits

The limits set out in the table below apply per Card, per day, for a Card issued in connection with a Transaction Account or Offset Account.

 


Transaction Type Limit

These limits only apply to cards with the EFTPOS logo.

Daily limit for purchases made by selecting ‘savings’ or ‘EFTPOS savings’ at POS Terminals, and / or

Cash out transactions made by selecting ‘savings’ or ‘EFTPOS savings’ at POS Terminals.

$2,000 daily

Daily debit Mastercard transaction limit

Purchases made online, by telephone or when selecting 'Mastercard Debit', 'credit' or 'CR' in stores

Up to the available balance of your Account

Mastercard contactless limit with no PIN

$200 per transaction

Additional information

1

To modify or cancel a scheduled Funds Transfer or BPAY® payment, you must make the change via Electronic Services by 11:59pm the day before it is scheduled to be made.

2

After being processed by us, Funds Transfers are generally received the following Business Day. Funds Transfers to Building Societies and Credit Unions may take up to 2 Business Days to be received.

3

If you need to temporarily increase this limit, please contact us. You should be aware that increasing this limit may increase your liability in the case of unauthorised funds transfer transactions. Refer to section 11 of the Transaction and savings accounts terms and conditions for information on liability for unauthorised transactions.

4

Although funds may be treated as received by the Biller, they may not be available in the Biller's account for up to 3 Business Days.

5

Note that individual BPAY® billers may set their own limits.

6

We offer overseas transfers via our International Money Transfer service provided by OzForex Limited, ABN 65 092 375 703 AFSL 226 484 (OFX). Register for this service online at internationalmoneytransfers.com.au.