St.George Bank Incentive Saver

No fees

The St.George Bank Incentive Saver costs nothing to open and there are no monthly fees. You can make one free withdrawal a month, subsequent withdrawals will incur a fee.

Making withdrawals

This account does not include a debit card. If you need to, you can transfer money out of the account using Internet banking or the mobile banking app. You will still earn the bonus interest, so long as you grow your balance by at least $50 each month.

Making deposits

Grow your savings balance automatically by setting up a direct deposit to the Incentive Saver. You can deposit funds to the Incentive Saver the same ways you can deposit funds in any bank account: by visiting a St.George branch and making a cash deposit, online transfers using the 'Pay Anyone' feature or BPAY. If you're transferring funds from another St.George bank account, the funds will clear in the St.George Incentive Saver immediately.

SMS and email alerts

Get SMS or email notifications when there's a deposit or withdrawal to your Incentive Saver account.

Personal customers

This account is available to personal customers only. You can't apply for this account in the name of a business or fund such as a self managed super fund.

Joint application

You can apply for the Incentive Saver as an individual and you can also lodge a joint application.

Internet banking

If you're a new customer to St.George, register for St.George Internet Banking when you apply for the Incentive Saver. Internet banking lets you view and manage your money online. View electronic statements and make payments from your computer, tablet or mobile internet connected device.

Electronic statements

Get your account history and activity delivered right to your inbox when you opt to receive electronic statements. The document is password protected and electronic Statements reduce paper consumption.

Documentation needed

If you're a new customer, you need to verify your identity with St.George. The online application also includes registration for Internet banking. To verify your identity, you need to provide one of the following forms of identification.

• Identification. You're required to provide one form of photographic identification or two forms of non-photo ID to complete the online identity verification process. Primary photographic identification includes: Australian or foreign passport, Australian or foreign driver's licence, a foreign national identity card or Australian 18+ Proof of Age Card.
• Tax File Number (TFN). St.George ask you to provide your TFN so they can calculate the correct tax rate to apply to your interest earnings. If you don't provide your TFN to St.George, any money you earn from this account will be taxed at the marginal tax rate.

What happens after I submit my application?

Once you submit the application, you will be contacted on your email letting you know about the next steps. You may be required to visit a St.George branch to provide further identification, if not, you can start making deposits to your St.George Incentive Saver right away.