Bank First Cash Management Account

Bank First Cash Management Account

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Maximum Variable Rate

0.25

Standard Variable Rate

0.25

Enjoy competitive interest and 24/7 access to your funds with this cash management account.

  • Get quickly and easily access to funds while earning competitive interest
  • Tiered Interest rate
  • 24/7 access to your funds

Product details

No matter what your savings goal is, it’s vital that you find a bank account that pays competitive interest on your balance. At the same time, you need to be able to quickly and easily access your funds.

Product Name
Bank First Cash Management Account
Maximum Variable Rate
0.25% p.a.
Standard Variable Rate
0.25% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$0
Minimum Opening Deposit
$0
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Minimum Age Requirement
18

What are the features of the Bank First Cash Management Account?

Earn interest on your savings

The Bank First Cash Management Account offers a competitive variable interest rate on your savings balance. Interest rates are tiered so that the bigger your balance, the higher the interest rate you can earn. The interest rate tiers are as follows:

    • $0–$4,999
    • $5,000–$19,999
    • $20,000–$49,999
    • $50,000–$99,999
    • $100,000 and over

24/7 access to your funds

You can make deposits into and withdrawals from your cash management account whenever you wish. Both Internet and phone banking can be linked to the account, so you have quick access if ever you need funds to pay a bill or make a purchase.

Minimum opening deposit

The account has a minimum opening deposit of $0.

Interest calculated daily

Interest is calculated daily and credited to your balance quarterly.

Online calculator

Bank First provides a handy online budget planner calculator to help you work out how much you can save with a cash management account. You can also use it to calculate the extra interest you would earn with a larger savings balance.

Launch savings calculator

Pros

  • Get quickly and easily access to funds while earning competitive interest
  • Tiered Interest rate
  • 24/7 access to your funds

Cons

  • Minimum opening deposit is $0

What you need to know before applying

If the features of the Bank First Cash Management Account sound perfect for you, click one of the “Find out more” links on this page. The link will take you to the bank’s website where you can read up on all the features, terms and conditions of the account.

Eligibility to apply online

You’ll also find all the information you need to complete an account application. First, make sure that you satisfy all the eligibility criteria for opening an account:

  • Minimum age. You must be at least 18 years of age.
  • Residency requirements. The account is only available for Australian residents.
  • Deposit requirements. You need a minimum opening deposit of $0.

Documentation for your online application

There are four ways you can apply for a cash management account from Bank First:

  • Online. Fill out an online application form via the Bank First website. You need to provide your name, address, date of birth and contact information, as well as proof of ID if you’re a new customer. Existing customers also have the option of opening a cash management account through the bank’s Internet banking portal.

You will need to specify your opening deposit amount when you apply for an account. Remember this must be at least $0. Applications are processed as quickly as possible so you can start saving.

The Bank First Cash Management Account offers competitive interest rates, with the flexibility of easy access to your money. Compare it with other cash management accounts to find the right account for your savings goals.

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