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ME Bank savings and bank accounts

ME Bank is an online bank that offers a high interest savings account and fee-free everyday bank account.

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ME Bank savings accounts, bank accounts and term deposits

Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
ME SaveME Savings Account
Maximum Variable Rate p.a.
4.25%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Have a linked SpendME account
  • 4 settled Visa Debit card purchases per month
  • Balances up to $500,000
View details
ME Business Online Savings Account
Maximum Variable Rate p.a.
0.05%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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Showing 3 of 3 results
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
ME SpendME Transaction Account
ME logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
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Showing 1 of 1 results
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
ME Term Deposit
ME logo
$5,000 min. deposit$2,000,000 max. deposit
3 Mths p.a.
2.25%
4 Mths p.a.
5.00%
5 Mths p.a.
1.25%
6 Mths p.a.
5.10%
7 Mths p.a.
1.75%
12 Mths p.a.
5.00%
24 Mths p.a.
2.00%
More Info
ME Business Term Deposit
ME logo
$5,000 min. deposit
3 Mths p.a.
2.05%
4 Mths p.a.
4.35%
5 Mths p.a.
0.85%
6 Mths p.a.
4.50%
7 Mths p.a.
1.35%
12 Mths p.a.
4.60%
24 Mths p.a.
2.00%
More Info
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Showing 2 of 2 results
1 - 12 of 12
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
Eligible customers can receive $50 cashback when they open an Orange Everyday and a Savings Maximiser account together before 31st July 2024. Customers must make 5 settled transactions and keep the accounts active for 60 days from opening.
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
BCU Bonus Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro/Ongoing
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
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Showing 12 of 12 results
Rates accurate as at: 20 July 2024 Learn about our information service

Quick facts about ME Bank

  • ME Bank is an online-only bank with no branches and no ATM network
  • ME Bank is a relatively young bank and has been operating in Australia for about 25 years
  • ME Bank was originally collectively owned by industry super funds, but it joined the Bank of Queensland Group in 2021
  • Because it's all online, ME Bank is known for offering competitive banking products with low fees and strong rates
  • ME Bank was one of the first banks in Australia to provide a refund on all local ATM withdrawal fees, along with ING

Accounts offered by ME Bank

Here's a quick overview of the different account ME Bank has:

ME Bank term deposit

The Me Bank term deposit has a minimum deposit of $5,000 and a range of term lengths between 1 month and 5 years.

Read our full review of the ME Bank term deposit.

Different ways to bank with ME Bank

ME Bank is an online-only bank with no bank branches and no ATMs in Australia, but it does offer a few different ways to do your banking.

Bank@Post

If you need to deposit cash into your ME Bank account you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

ME Bank Internet and mobile banking

You can use ME Bank's Internet banking platform or mobile app 24/7 to do all your day-to-day banking. You can track account balances, pay bills and other direct debits, make BPAY payments, transfer funds between accounts, activate new cards or place existing ones on hold and to schedule payments. You can use the Internet Banking platform to increase your daily transfer limit to a maximum of $20,000 if needed for one-off large purchases.

The ME Bank app allows you to do most of the same things as the Internet Banking platform, but with the added convenience of being able to access the app anywhere you are. ME Bank mobile app has a 2.3-star rating on the App Store and a 1.5-star rating on Google Play, which is lower than other major banking apps.

ME Bank contactless payment options

ME Bank offers Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay to customers with a ME Bank debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items, instead of using your physical debit card.

Pros and cons of banking with ME Bank

Pros

      • No Australian ATM fees. ME will refund you any ATM withdrawal fees you pay in Australia.

Cons

  • No branches. ME Bank does not have branch banking, although it does have sales offices in Victoria, Queensland and South Australia.
  • Mobile app has low star ratings. The Me Bank app has a lower star rating in both the App Store and Google Play compared to many other banking apps.

How to apply for a ME Bank account online

You can apply for a new ME Bank account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

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Written by

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 656 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

More guides on Finder

  • ME term deposit

    With the ME term deposit you get a flexible savings plan with options that let you customise the terms to suit your needs.

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21 Responses

    Default Gravatar
    DSeptember 17, 2023

    Saving Account of %5.65 couldnt find it after I downloaded the app

      AvatarFinder
      AlisonSeptember 21, 2023Finder

      Hi, this rate is available with the ME HomeME savings account which is exclusively available via the ME Go app (not the regular ME Bank app).

    Default Gravatar
    CaroleOctober 17, 2017

    Is there a high interest savings account that can be used when share trading please?

      Default Gravatar
      ArnoldOctober 17, 2017

      Hi Carole,

      Thanks for your inquiry.

      Some trading services let you transfer money easily from your trading account to a high-interest savings account. Others offer linked to debit cards to use with your accounts. You can check our list of high-interest savings accounts and debit cards to compare your options. Both pages have a comparison table you can use to see which account suits you. Once you have chosen a particular account, you may then click the “Go to site” button to be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.

      Before applying, please ensure you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    carolineJanuary 31, 2017

    do i have to have an initial account to open a term deposit account, did phone but would take 10mins to answer….only downfall….

      AvatarFinder
      ClarizzaJanuary 31, 2017Finder

      Hi Caroline,

      Thanks for your question.

      Depending on the bank and the term (or how long you want to keep your money locked away in a term deposit), there is only a minimum deposit amount required. You can make your initial deposit from any bank account. You can also open a term deposit online, provided you satisfy the eligibility requirements.

      Our term deposit comparison page also features some term deposits. Select the “Go to site” button to be taken directly to the bank’s website to start your online application.

      Regards,
      Clarizza

    Default Gravatar
    carolineJanuary 31, 2017

    with the term deposits, can you access your funds in an emergency….and how do you deposit funds?

      AvatarFinder
      ClarizzaJanuary 31, 2017Finder

      Hi Caroline,

      Thanks for your question.

      Typically, term deposits keep your money locked away – you cannot access your money or withdraw it before maturity (when the term ends). If you do, penalty fees apply.

      If you’re looking for a way to save where you can access your savings should you need it, an online savings account could be a good option. You can link it to a transaction account to conveniently deposit and transfer money between accounts.

      Notice savers might also be another alternative. They work similar to a term deposit, however, instead of ‘terms’ you provide the bank a notice period. To find out more, please take a look at our guide discussing Notice Savers.

      Regards,
      Clarizza

      AvatarFinder
      DeeJanuary 31, 2017Finder

      Hi Caroline,

      Thanks for your question.

      Generally, you need to notify the bank 31 days in advance before you can withdraw the money. In cases of extreme financial hardship this rule can be waived. Please do note that penalties may apply.

      You can compare term deposit accounts featured on our website.

      You can make a deposit by visiting a local branch or by linking your term deposit account to another where the source of fund is.

      Cheers,
      Anndy

    Default Gravatar
    RussellOctober 25, 2016

    I have $25,000 to put in my savings account… What interest will I get paid. I currently maintain about $3000 to $6000 in my savings account.

      AvatarFinder
      ClarizzaOctober 26, 2016Finder

      Hi Russell

      Thanks for your question.

      If you deposit the whole amount ($25,000) and keep it in your account and make no other deposit for 12 months, you will earn $786.11 in interest (with the current 3.05% p.a rate). Please note there are certain conditions required to earn the max variable rate of 3.05%. To receive bonus interest for any calendar month you must have a ME Everyday Transaction Account and during that month make a weekly purchase with your Debit MasterCard using tap & go.

      You can also use the savings calculator above the tables and input your opening deposit, monthly deposit and period to compare interest earned.

      Regards
      Clarizza

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