Compare SERVICE ONE Alliance Bank Savings Accounts

SERVICE ONE Alliance Bank may just be one of the best kept banks in regional NSW and the ACT.

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Service One Alliance Bank

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SERVICE ONE Alliance Bank is a regional mutual bank. Buy a small share when you open a savings account to become a member. Mutual banks are operated to benefit members through better rates and fees.

Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Westpac Life (18-29 year olds only)
If you’re between 18-29, you can earn a 3% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your Westpac Choice account, up to a balance of $30,000.
MyState Bank Bonus Saver Account
Ongoing, variable 1.2% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.
Virgin Money Boost Saver (25+ year olds)
Customers aged 25+ can earn an ongoing variable 1.2% p.a. each month you deposit at least $2,000 into your linked Virgin Money Go Transaction Account and make 5+ transactions.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Citibank Online Saver
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Bank of Queensland Fast Track Saver Account
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Virgin Money Grow Saver
Earn an ongoing variable 0.65% p.a. each month you make at least one deposit of any amount and no more than one withdrawal.
Bank of Queensland WebSavings Account
Introductory rate of 0.01% p.a. for months, reverting to the standard rate of 0.01% p.a. for balances between $0 and $1,999.
HSBC Flexi Saver Account
Ongoing, variable 0.25% p.a. when you grow your balance by $300+ per month. Earn bonus interest even if you make withdrawals during the month. Available on balances up to $5,000,000.
Westpac Life
Ongoing, variable 0.4% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
HSBC Serious Saver
Receive a maximum variable rate of 0.3% p.a. for 4 months, reverting to an ongoing rate of 0.15% p.a. for each month you don't make any withdrawals from the account. Available on balances below $1,000,000.

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SERVICE ONE Alliance Bank awards

  • Money Magazine Consumer Finance Awards - Personal Lender of the Year - 2008

Who is SERVICE ONE Alliance Bank?

SERVICE ONE Alliance Bank have a diverse product mix. Although they do not offer a high interest saving account with bonus interest, they have an account for you if you’re a student, on an aged pension or just looking for an everyday banking solution.

What is internet banking like for SERVICE ONE Alliance Bank?

SERVICE ONE Alliance Bank let you manage your transaction and investment accounts online. This browser based platform lets you make payments to other accounts in Australia or overseas, view account balances and interest earned and make BPAY payments all from the comfort of your home, or when you’re on the go from your mobile device.

If you’re applying for a transaction or investment account in the name of more than one person, you have the option of setting the level of internet banking access for each account owner when you apply. You can choose to limit the access of signatories to view only, no access or grant full online access to the account.

Notable features include:

  • Limit the level of online access for each account signatory.
  • Access your money 24/7 in your home or on the go using Alliance Bank e-link internet banking.
  • Make BPAY payments and transfer funds to other accounts in Australia and overseas.
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What about the mobile app?

Image Source: App Store
Login PagePaymentsLocate ATM/Branch

What transaction accounts are provided are by Service One Alliance Bank?

  • SERVICE ONE Day to Day Account
    This is Alliance Bank’s everyday banking account and a home for your day to day spending money. Get paid into this account and buy goods at shops, online or make ATM withdrawals by linking either an EFTPOS card or Visa Debit Card. Register for e-link internet or telephone banking so you can pay bills using BPAY and set up direct debits with your service providers.
  • SERVICE ONE FREEStyle Student Access Account
    Just for students and apprentices. Other SERVICE ONE Alliance Bank transaction accounts may attract transaction fees, the Student Access Account offers unlimited free transactions and withdrawals. Link an EFTPOS card or a Visa Card to this account to shop at stores, online and make ATM withdrawals. This account also offers telephone and online access.

What high interest savings accounts are offered by Service One Alliance Bank?

  • SERVICE ONE Alliance Bank Christmas Club Account
    Save for Christmas so you know you’ll have enough to cover holiday spending. Avoid the temptation to spend, you can only access the money in your Christmas Club between the 1st of November and the 31st of January. Have money automatically paid into this account and get rewarded with a competitive rate of interest on your Christmas Club balance.
  • SERVICE ONE Alliance Bank Senior Saver Account
    Apply for this savings account if you receive a Centrelink aged pension. The Senior Saver doubles as a transaction account giving you EFTPOS or Visa Card access so you can make purchases in stores, online and ATM withdrawals. As well as e-link online and telephone banking, you can make withdrawals and deposits at Alliance Bank branches and at Australia Post retail outlets via Bank@Post.
  • SERVICE ONE Alliance Bank Money Management Account
    Deposit $2,000 or more to open a Money Management Account and earn a tiered interest on your balance — calculated daily. The minimum withdrawal and deposit amount is $500 and you can withdraw your money 7 days after you make a deposit.
  • SERVICE ONE Alliance Bank Term Deposit
    Ideal if you’re looking to budget into the future, The Alliance Bank Term Deposit gives you a guaranteed return on your investment. Terms range from 1 to 60 months. Open a term deposit with as little as $500.

What are the pros and cons of banking with SERVICE ONE Alliance Bank?


  • Fee reduction. Get a partial or complete reduction in transaction fees through the SERVICE ONE Alliance Bank Average Relationship Balance. The more money you hold across multiple Alliance Bank accounts the more free transactions you get each month.
  • E-Link internet banking. Access your money when you want it through the Alliance One e-link internet banking facility.
  • RediATM. SERVICE ONE Alliance Bank are partnered with rediATM, one of Australia’s largest ATM networks.


  • Regional presence. SERVICE ONE Alliance Bank have a strong regional presence in N.S.W and the A.C.T but lack branch facilities in Sydney.
  • No bonus interest savings account. This bank doesn’t offer a high interest savings account which rewards you with bonus interest when you meet specific deposit and withdrawal conditions.
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How do I apply for a SERVICE ONE Alliance Bank account?

To apply for a SERVICE ONE Alliance Bank savings or transaction account, download and complete an application form and return the document to a SERVICE ONE Alliance Bank branch. If you need some extra help, an Alliance One customer service agent can guide you through the process.


When you open one of these accounts, you’ll also be registered as a member of the mutual bank. You’re required to purchase a $10 member share, which entitles you to a say in the operation of the institution.

If you have any questions about the products listed on this page, we can help answer questions about fees and features, just ask us a question using the form below.

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