Find the right account to help you reach your savings goals with AWA Alliance Bank.
AWA Alliance Bank is a member-owned bank with a focus on friendly customer service and a more personal approach to banking. Through its alliance with Bendigo and Adelaide Bank (as part of the Alliance Bank Group), AWA is able to provide a wide range of financial products and services on behalf of Bendigo and Adelaide Bank.
With branches in Geelong and Portland in Victoria and Mandurah in WA, AWA Alliance Bank offers home loans, credit cards, personal loans, savings accounts and transaction accounts.
Who is AWA Alliance Bank?
AWA Alliance Bank is part of the Alliance Bank Group. The Group was formed by the alliance of four independent mutual entities (AWA Mutual Limited, Service One Mutual Limited, Circle Mutual Limited and BDCU Mutual Limited) with Bendigo and Adelaide Bank. As a result of this alliance, AWA Alliance Bank is able to offer a wide range of financial products on behalf of Bendigo and Adelaide Bank, but at the same time it can maintain its own independent brand and local presence.
AWA Alliance Bank offers several savings accounts designed to suit a variety of needs. There are everyday savings accounts, youth saver accounts, bonus saver accounts and options to suit the specific needs of different customers, including pensioners. As of September 2016, there are no transaction or account-keeping fees on any of the bank’s savings accounts.
These accounts are backed by AWA’s friendly customer service and, because this bank is owned by its members, it puts any profits made towards delivering better products for its customers.
What is Internet banking like for AWA Alliance Bank?
AWA Alliance Bank’s Internet banking platform helps members access account information, pay bills and transfer funds. It offers all the standard features you would expect from an online banking portal, and there are no additional fees associated with online banking or transfers.
To sign up for AWA Internet banking, customers can visit their nearest branch or contact the bank via phone or email. For added security, access to Internet banking is locked after three incorrect login attempts.
Notable features include:
- Pay bills via BPAY
- Transfer funds to other bank accounts
- Redraw on your home loan
- View transaction details and account statements
- Obtain details of interest earned
What about the mobile app?
Image Source: App Store| Login Page | Locating the near ATM/Branch | Pay Bills |
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What transaction accounts are offered by AWA Alliance Bank?
- Everyday Account. This everyday at-call account comes with a RediCard, cheque book and easy access via Internet banking. You can set up direct debits from your account, make periodical payments, and pay bills via BPAY and Bank@Post (Australia Post’s personal banking services).
- Bill Paying Account. The AWA Alliance Bank Bill Paying Account allows you to periodically set aside funds to cover bills – for example, you may want to put a portion of your salary aside each payday. The account can have a number of features attached, including an overdraft, periodical payments, direct debit and direct credit.
What high interest savings accounts are offered by AWA Alliance Bank?
- Pensioner Account. This at-call savings account is available to pensioners and Health Care Card holders. It pays tiered interest based on your account balance and also comes with a RediCard, cheque book, direct debit functionality and the flexibility to perform a variety of electronic transactions.
- Christmas Club Account. This special-purpose account is designed to help you put money aside for Christmas. You can set up a payroll deduction or regular payment into the account, and interest applies to your balance throughout the year. You can then withdraw some or all of the funds any time between 1 November and 31 December.
- Online Saver Account. The Online Saver Account is an at-call savings account that pays a high rate of interest on your balance. The minimum account balance is $1,000.
- Youth Saver Account. Designed for members aged under 21, this everyday at-call account combines a competitive interest rate with a range of flexible features. These include a RediCard, Internet and phone banking, Bank@Post functionality and more.
What term deposits are offered by AWA Alliance Bank?
If you’re looking for the security of a term deposit, AWA Alliance Bank offers term deposits with terms ranging from 1 to 24 months. Interest rates vary depending on the term you choose and the amount you invest, with a minimum deposit of $5,000 required. There are no account-keeping fees on the bank’s term deposits.
What are the pros and cons of banking with AWA Alliance Bank?
Pros
- Choice. With multiple savings accounts available, you can choose the savings product that best matches your financial goals.
- Customer service. As an independent mutual, AWA Alliance Bank prides itself on providing friendly customer service and a personalised banking experience.
- Member-owned. As AWA Alliance Bank is owned by its members, profits are put towards providing better products and services for customers.
Cons
- Few branches. AWA Alliance Bank has two branches in Victoria and one in WA, so it may not be easy to access for all customers.
How do I apply for an AWA Alliance Bank account?
If you’d like to apply for a savings account with AWA Alliance Bank you can:
- Phone the bank directly
- Fill out an online enquiry form with your name, contact details and the type of account you’re interested in
An AWA Alliance Bank representative will then discuss your account needs with you and talk you through the application process.
AWA Alliance Bank offers an extensive range of savings accounts to suit the needs of a variety of savers. However, be sure to compare a number of options from other banks and credit unions before deciding on the best savings account for you.
