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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.
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.
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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.
This account also enables you to earn interest and it does not attract any account keeping fees. This is essentially an online account which gives you free unlimited online banking transactions and five free other transactions per month. You can access funds in your account using a cheque book, using a Visa debit card, and by visiting a branch.
This account is for independent retirees and pensioners over 55 years of age, and offers tiered interest rates. It does not charge any account keeping fees, and comes with a Visa debit card.
This account does not offer any interest, and it does not charge account keeping fees. Account holders can access funds in their accounts using a Visa debit card or by visiting a branch, although the latter attracts a fee.
This account does not charge any transaction fees for EFTPOS transactions and ATM withdrawals, and students under 18 years of age can apply. This card does not charge account keeping fees, and account holders stand to earn interest.
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.
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 topBefore 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.
To apply, you’ll need to provide the following.
Earn an ongoing competitive interest rate on your balance with no monthly deposit conditions to meet.
Diversify your savings growth potential with a flexible Foreign Currency Term Deposit.
The Bank of Sydney Student Transaction Account is no longer available to new customers. This information is for existing customers only.
The Bank of Sydney SmartNet is no longer available to new customers. This information is for existing customers only.
The Bank of Sydney Student Savings Account lets you earn competitive interest, plus you may qualify for a linked Visa debit card.
The Bank of Sydney Retirement Account lets you access your money at any time and you get to earn interest.
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.
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.