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You qualify for the Australian Defence Bank Recruit Salary Saver Account if you apply for it within four months of marching in as a new Australian Defence Force (ADF) recruit. This account lets your money earn competitive interest. It gives you access to your money in different ways. By meeting a simple depository criterion you don’t have to pay any monthly account keeping fees.
$1,500
Fee Free Deposit
$4
Account keeping fee
$0
ATM withdrawal fee
$4.5
Overseas ATM withdrawal fee
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Product Name | Australian Military Bank Recruit Salary Saver Account |
---|---|
Monthly account fee | $4 |
Card access | Visa |
ATM Withdrawal Fee | $0 |
Internatonal ATM Fee | $4.50 + 2.95% |
International transaction fee | 2.95% |
Monthly deposit required to waive account fee | $1,500 |
Contactless Payments | Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay |
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.
This account is for new Defence Force recruits only, and is designed to give new recruits a bit of a financial helping hand. It’s a transaction account that also pays 1.05% interest on your balance for the first four months. Earning interest on a transaction account that offers 24/7 access to your money with a linked Visa Debit Card is really rare.
Note that there is a $4 monthly account fee, but this is waived if you deposit $1,500 a month.
If you’re not a new recruit, you can take a look at the Military Rewards Accountinstead. This doesn’t pay any interest, but you do earn 1% cashback on tap and go purchases under $100, up to the value of $25 a month.