Bank of Melbourne Complete Freedom Student

Bank of Melbourne Complete Freedom Student

Fee Free Deposit


Account Keeping Fee


Students and apprentices can take advantage of an everyday account that takes care of their financial transactions without any fees.

  • Access your money with no monthly fees
  • Available to under 18s, full time students and apprentices
  • A range of free everyday transactions are available

Product details

The Bank of Melbourne Complete Freedom Student Transaction Bank Account is specially designed for apprentices, full-time tertiary students and students under 18. With the combined use of online banking and ATM access, you can manage your day to day financial transactions without incurring any fees.

This is an account that a young Australian should compare with others to help get them through their educational years. You can open one in less than 5 minutes.

Product Name
Bank of Melbourne Complete Freedom Student
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Interest Rate p.a.
A low cost transaction account for students – no ATM withdrawal fees at Bank of Melbourne, BankSA, St.George and Westpac ATMs in Australia.
Joint Application
Fee Free Deposit p.m.
Overseas ATM Withdrawal Fee
Overseas Eftpos Fee
Phone Banking
Internet Banking


Open a new Bank of Melbourne Complete Freedom Student account before 30 November 2017 and deposit $100 within 45 days of opening the account, and you'll receive a $10 cash bonus. New account holders only. For full terms and conditions, please click on "Go to Site".

What are the features of the Bank of Melbourne Complete Freedom Student Transaction Bank Account?

When looking at a bank account to take care of your everyday payments and purchases, you will want to compare the following features:

  • Monthly maintenance fees. There are no fees deducted from your account for monthly maintenance.
  • Accessibility. You will be able to manage your account online from a PC or mobile device.
  • Debit card. This account comes with a Visa debit for all users over the age of 14. For younger students a Freedom Card can be applied for.
  • Visa debit card. With the Visa debit card you can make purchases wherever Visa is accepted either in store or online. The daily limit on purchases is $8,000.
  • Cash withdrawals. You can use the issued Visa debit card to make withdrawals for free at Bank of Melbourne, BankSA, St.George and Westpac ATMs. This network includes over 3,000 ATMs across Australia. Be advised that there is a daily limit of $1,000 for cash withdrawals, including cash outs when you make a purchase at an EFTPOS.
  • Overseas cash withdrawals. You are charged $5 for every cash withdrawal you make overseas.
  • Currency conversion. For any transaction that requires a conversion of currency you will be charged 3% of the Australian dollar amount.
  • Mobile banking. A Bank of Melbourne app is available for both iPhone and Android devices. With this app on your smartphone you have the same access to your account as with online banking. Bank of Melbourne has also added a cardless cash feature which allows you to make withdrawals from an ATM without having to use your Visa debit card.


  • There is a service fee of $0 each month
  • Fee free access of your funds thru internet and phone banking
  • Use of Visa card on your shopping online or overseas is secured


  • Minimum age to apply is 18 years old

How do you apply for the Bank of Melbourne Complete Freedom Student Transaction Bank Account?

If the features and benefits of the Bank of Melbourne Complete Freedom Student Transaction Account fit in with your student lifestyle, you can apply online. You should first familiarise yourself with the eligibility requirements to make sure that your application will be accepted:

  • Minimum age. The minimum age requirement for this account is 14, but those applicants over 18 must be a full time student or apprentice.
  • Residency requirements. This account can only be opened if you have an Australian residential address and are currently located in Australia.
  • Depository requirements. There is a $1 minimum deposit required to open this account.

If you are able to meet these requirements you will need to provide Bank of Melbourne with documentation in order to submit the application. This includes:

  • Identification for students. Students can provide any of the following for identification purposes; student identification card, public transport student concession card or a letter from your educational institution on official letterhead that confirms your current full-time status.
  • Identification for apprentices. Apprentices will need to provide a copy of the letter from your state or territory training authority which confirms the registration of your apprenticeship. Make sure that it includes your registration number, training contract ID and expected completion date.

Filling out the application should take approximately five minutes if you have prepared your information in advance. Make sure that you are providing Bank of Melbourne with a working email address in order for them to contact you with the details of the account once your details and identity have been verified.

You can apply for this account by visiting the Bank of Melbourne website directly and applying online, or by visiting a branch. Your son will need to provide proof of his studies such as a student card, student concession card or a letter from his institution.

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