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.
Finder makes money from featured partners, but editorial opinions are our own.
Australian Military Bank Recruit Salary Saver Account
- Account keeping fee
- $0
- ATM withdrawal fee
- $0
- Overseas ATM withdrawal fee
- $4.5
- Overseas transaction fee of transaction value
- 2.95%
Our verdict
New Australian Defence Force recruits can benefit by opening this everyday banking account that offers interest too.
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 $0 monthly account fee, but this is waived if you deposit 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.
Pros
-
24 hour access to funds through Internet Banking
-
Linked Visa debit card
-
No monthly account fee if you meet deposit requirements
Cons
-
Only available for members
Details
Key details
| Product Name | Australian Military Bank Recruit Salary Saver Account |
| Monthly account fee | $0 |
| Card access | Visa |
| Own network ATM fee | $0 |
| International ATM Fee | $4.50 |
| International transaction fee | 2.95% |
| Monthly deposit required to waive account fee | N/A |
| Contactless Payments | Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay |
Eligibility
| Minimum Age | 12 |
| Joint account availability | No |
| Minimum opening deposit | N/A |
| Residency status | Permanent Australian residents with an Australian address |
Key features
Interest
The money in your Recruit Salary Saver Account earns 1.05% p.a. interest. The bank calculates interest on your everyday balance and pays it monthly.
Visa debit card
This account comes with a linked Visa debit card that you can use to transact the world over, at ATMs and EFTPOS terminals alike. All you have to do is look for the Visa logo. You can use your card to make fee-free withdrawals from rediATMs across Australia. You can also use your card details to pay bills and make purchases online and over the phone.
Your reviews
No reviews yet.
Write a review
Alison Finder
Editor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.
More resources on Finder
Banking
Investments
Banks