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Australian Military Bank Military Rewards Account

Alison Banney
Alison Banney
Last updated:  

Do you want an everyday bank account that rewards you as well as the Defence community?

The Australian Military Bank Military Rewards Account is an everyday account that gives you easy access to your money in different ways. If you meet a basic deposit criterion you don’t have to pay any account keeping fees. You stand to earn cash back when you use your Visa debit card to make payWave purchases. You, along with the bank, regularly contribute to a Defence related charity that you select.

$2,000

Fee Free Deposit

$4

Account keeping fee

$0

ATM withdrawal fee

2.95%

Overseas transaction fee

of transaction value

Details

Product NameAustralian Military Bank Military Rewards Account
Monthly account fee$4
Card accessVisa
ATM Withdrawal Fee$0
International transaction fee2.95%
Monthly deposit required to waive account fee$2,000

Expert review

Alison Banney

Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This is one of only a few transaction accounts that offer cashback on purchases. You can earn 1% cashback on tap and go purchases under $100, up to the value of $25 a month.

To get this cashback perk you need to deposit $2,000 per month. When you deposit $2,000 a month you’ll also get the $4 account keeping fee waived.

The cashback offer is a cool perk, but make sure you don’t fall into the trap of spending just to get the cashback.

Key features

You get 1% cash back on payWave purchases under $100

When you use your payWave enabled Visa debit card to make contactless payments of less than $100 you earn 1% cash back, provided you deposit at least $2,000 in your account every month. The bank credits this cash back on a monthly basis.

Includes a linked Visa debit card

This account comes with a linked debit card that you can use at over 2.2 million locations worldwide, at ATMs and EFTPOS terminals alike. You can use your card to make unlimited withdrawals at rediATMs across Australia. You can also use your card details to make purchases and pay bills online and over the phone. This card does not attract any monthly or annual fees. You get to choose the card’s design.

Compare more products from the Australian Military Bank

How to apply

Opening the Military Rewards Account requires that you become a member of Australian Military Bank. You can apply for this account online. Visit the Australian Military Bank website if you wish to apply online.

Eligibility

Bear in mind you have to meet these eligibility criteria:

  • Minimum age. You are over 18 years old
  • Residency requirements. You are an Australian citizen or a permanent resident of Australia

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