Bank First Starting Out

Bank First Starting Out

Fee Free Deposit


Account Keeping Fee


Managing your money as an 18-25 year old can be difficult and confusing.

  • Discount on Health Insurance with Australian Unity
  • Get financing for up to 100% of the purchase price of a new or used car
  • $0 monthly account keeping fees

Product details

Many people are still getting used to the responsibility and discipline required to take control of their finances at this stage of their life, so Bank First offers a special package designed to suit the unique financial needs of people in this age bracket.

If you’re aged 18 to 25 and looking to take control of your finances, the Starting Out Package from Bank First provides a range of discounts and special offers to help you do just that.

Important Information

This product is only available to existing customers. It is no longer available to new customers. Review more banking products from Bank First

What are the features of the Bank First Starting Out Package?

Known as the Starting Out Package, this unique product is available to 18-25 year olds who open one of a number of savings, investment and transaction accounts with Bank First. In addition to the money-saving benefits of fee-free banking, this package also entitles you to discounts across a suite of financial products that includes credit cards, personal loans and insurance.

Choice of accounts

To access the Starting Out Package, you’ll need to be between 18 and 25 years old and open one of the following accounts with Bank First:

  • Savings accounts. Choose from an Online Saver, Bonus Saver, Christmas Club or First Home Bonus Saver Account.
  • Investment accounts. Available options include a Cash Management Account or a Bank First term deposit.
  • Transaction accounts. The Starting Out Package is available on an Everyday Account or a Budget Account.

No transaction fees

The Starting Out Package provides fee-free banking for eligible customers, allowing you to deposit and withdraw funds from your account without incurring any charges.

No ongoing fees

There are no ongoing monthly account-keeping fees to worry about with the Starting Out Package.

However, the main benefits of the Starting Out Package are the discounts and special offers it allows you to access from Bank First and on a wide range of products and services from other financial institutions. Offers include the following:

  • Credit card. Take advantage of a 0% p.a. interest rate for the first six months on a Visa Classic credit card.
  • Car financing. Get financing for up to 100% of the purchase price of a new or used car.
  • Student loans. Take control of your finances with a student loan from Bank First, including the flexibility to defer repayments if you wish.
  • CGU Insurance. Access premium discounts across a number of CGU Insurance policies.
  • Health insurance. Receive a discount of up to 7.5% on health insurance with Australian Unity.
  • Home loans. If you’re a first home buyer and you apply for a home loan with Bank First, the bank will waive the establishment fee.
  • Financial planning. Take advantage of a free financial planning consultation to help you take control of your finances.

See more Bank First products


  • Discount on Health Insurance with Australian Unity
  • Get financing for up to 100% of the purchase price of a new or used car
  • $0 monthly account keeping fees
  • $0 transaction fees


  • Available for only 18 and 25 years old

What you’ll need to know before applying

If you think you could benefit from the discounts and advantages included in the Starting Out Package, click on one of the “Find out more” links. This will take you directly to the Bank First website where you can peruse the package terms and conditions and also apply to become a member.

Eligibility to apply online

However, before you start applying, make sure you meet the following eligibility criteria:

  • Age requirements. You must be at least 18 years old and no older than 25.
  • Residency requirements. You will need to be an Australian resident in order to qualify for an account.
  • Other requirements. Make sure you’re aware of any specific requirements that apply to the account you choose to open. For example, if you want to earn bonus interest on a Bonus Saver Account, you’ll need to deposit at least one dollar per month and not make any withdrawals.

How can I apply?

There are four ways you can apply for the Starting Out Package:

  • Online. It only takes a few minutes to apply online by providing your name, address and contact details.
  • Over the phone. You can apply over the phone between 8:00am and 7:00pm Monday to Thursday and 8:00am and 6:00pm Friday.
  • By post. Download and complete an application form before posting it to the return address specified.
  • In person. Fill out an application at the bank’s Hawthorn East or Moonee Ponds service centre.

The Starting Out Package offers a long list of attractive benefits for 18-25 years olds, so it’s certainly worth considering if you’re looking for an affordable way to manage your money. Compare it with similar offerings from other banks to determine whether the Starting Out Package is the right fit for your finances.

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