Compare Bank of Sydney savings accounts
Open a transaction account, savings account or a term deposit depending on your needs.
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Bank of Sydney began operations under a full banking licence in April 2001, and now has branches in Sydney, Melbourne and Adelaide. It offers a range of products and services related to personal banking, business banking and international banking. Also, it provides various insurance solutions as well. The Bank of Beirut acquired the Bank of Sydney in 2011.
Awards that Bank of Sydney has earned
- Randwick City Business Excellence Awards, 2015. The bank’s Kingsford Branch team won in the Professional Services category.
Who is Bank of Sydney?
Its range of transaction accounts give you access to funds according to your needs. If you’re considering getting on the savings bandwagon, you can choose to open to savings account or a term deposit.
Mobile Banking App
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What transaction accounts are offered by Bank of Sydney?
Everyday Saver
This everyday account gives you the ability to earn interest, and you don’t have to pay any account keeping fees. You can link this account to a Visa debit card to get easy access to funds in your account, and you can benefit from free unlimited ATM and EFTPOS transactions.
What term deposits are offered by Bank of Sydney?
Term Deposits
Bank of Sydney offers term deposits of terms ranging from one month to thirteen months, and to open one you require a minimum investment of $1,000. These term deposits don’t attract any account keeping fees, and you get the option of automatic rollovers.
Foreign Currency Term Deposits
You can choose to open a term deposits with Bank of Sydney using foreign currency. Currencies Bank of Sydney accepts include American Dollars, Euros, Great Britain Pounds, and New Zealand Dollars. You also have the option of terms from one month, two months, three months, six months, and 12 months.
Back to topWhat are the pros and cons of banking with Bank of Sydney?
Pros
- Numerous choices. Bank of Sydney gives you a number of options from which to choose, so you can expect to find an account in accordance to your specific requirements.
- Foreign currency fixed deposits. Not many financial institutions accept fixed deposits in foreign currencies, but this is one of the many benefits you can look forward to as a Bank of Sydney customer.
- Branch and ATM network. Bank of Sydney has a number of branches in Sydney and Melbourne, and it has a branch in Adelaide as well. Bank of Sydney customers also get to access the Australia wide rediATM network of over 3,000 ATMs for free.
Cons
- No branches elsewhere. The absence of branches outside of Sydney, Melbourne, and Adelaide can work as a drawback, especially for customers who wish to bank in person.
How do I apply for Bank of Sydney account?
Before applying for a Bank of Sydney account, it is important that you compare the features against what other providers are offering to ensure it best meets your personal needs. If you believe a Bank of Sydney account is the best fit for you, simply click on the ‘Go to Site’ button to apply online, but make sure you meet the following eligibility criteria before you apply.
Eligibility to apply online
- You reside in Australia
- You meet account specific minimum age requirements
Documentation
To apply, you’ll need to provide the following.
- Acceptable identification documents like your Australian driver’s license, passport, proof of age card, or Medicare card
- Personal details like your complete name, date of birth, residential address, phone number, and email address
- Your country of birth and nationality
- Your occupation and your employer’s name
More guides on Finder
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Bank of Sydney Saver Account
Earn an ongoing competitive interest rate on your balance with no monthly deposit conditions to meet.
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Bank of Sydney Foreign Currency Term Deposit
Diversify your savings growth potential with a flexible Foreign Currency Term Deposit.
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Bank of Sydney Student Transaction Account
The Bank of Sydney Student Transaction Account is no longer available to new customers. This information is for existing customers only.
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Bank of Sydney SmartNet
The Bank of Sydney SmartNet is no longer available to new customers. This information is for existing customers only.
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Bank of Sydney Student Savings Account
The Bank of Sydney Student Savings Account lets you earn competitive interest, plus you may qualify for a linked Visa debit card.
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Bank of Sydney Everyday Saver Transaction Account
The Bank of Sydney provides you with a convenient way to manage your money without having to worry about fees – with interest earnings and Visa debit card access, you are getting the best of both banking worlds.
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Bank of Sydney term deposit account
The term deposit from Bank of Sydney gives you more flexibility for the same competitive rates, so for short-term savings this may be the account for you.
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