Bank of Melbourne Concession

Bank of Melbourne Concession

Maximum Variable Rate


Account Keeping Fee


Australian concession card holders can benefit from a bank account offered by the Bank of Melbourne.

  • Available if you have a Commonwealth Government Health Concession Card or a Seniors Card
  • No monthly fee
  • A range of free transactions are on offer

Product details

Australians who have been issued a Commonwealth Government Health Concession card or Senior’s card can make their banking requirements simpler with the Bank of Melbourne Concession Transaction Bank Account. This account has been specially designed with low fee options and easy accessibility in order to help better manage your money. Look closely at what this account offers you compared to others before you make a final choice for your everyday financial needs.

You can access Bank of Melbourne/Westpac/St.George/ BankSA ATMs, eftpos, Bank@Post and Internet, Mobile and Phone Banking for free.

Product Name
Bank of Melbourne Concession
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Interest Rate p.a.
$0 monthly account service fee and free, unlimited everyday banking transactions in BoM branches, Bank of Melbourne/Westpac/St.George/ BankSA ATMs.
Joint Application

What are the features of the Bank of Melbourne Concession Transaction Bank Account?

  • Monthly fees. There are no monthly account service fees for this account.
  • Accessibility. You are able to access your account online, over the phone and through an ATM network.
  • Visa debit card. When you open a Concession Transaction Bank Account you will be issued a Visa debit card.
  • Purchases. You can make interest free purchases with your Visa debit card both online or in person at an EFTPOS. Be advised that there is an $8,000 daily spending limit for the card.
  • Cash withdrawals. Free cash withdrawals of up to $1,000 daily can be made at any Bank of Melbourne, BankSA, Westpac, or St.George ATM. That totals over 3,000 ATMs around Australia. You should note that the daily limit also includes any cash back you receive when making an EFTPOS purchase.
  • Branch access. You are allowed an unlimited number of free transactions at any Bank of Melbourne branch.
  • Mobile banking. Bank of Melbourne has an app that can be downloaded onto iPhone or Android devices. This gives you the same access to your account that online banking does, along with the ability of making ATM withdrawals without the use of your debit card.
  • Balance requirements. You are not required to maintain any minimum balance to keep your account open.
  • Overseas transactions. If you use your debit card to make withdrawals while traveling overseas, you will be charged $5 per transaction plus any additional fees charged by the issuing financial institution.
  • Converting currency. Any transaction that requires Bank of Melbourne to convert currency to the Australian dollar will incur a charge of 3% of the Australian dollar amount.
  • Availability. You must either have a Commonwealth Government Health Concession Card or Senior’s card to qualify for this account.


  • $0 account service fee every month
  • Internet and phone banking for your 24/7 access of funds


  • Transaction fees may be applicable for everyday banking

How do you apply for the Bank of Melbourne Concession Transaction Bank Account?

If this account sounds like an ideal way for you to manage your money, you will need to apply either over the phone or at your local Bank of Melbourne branch. Before making that call or trip however, you should check to make sure that you are eligible for the account:

  • Minimum age. While there is no age requirement, you do need to hold a Commonwealth Government Health Concession card or Senior’s card to qualify.
  • Residency requirements. Applicants must be permanent residents of Australia with a residential address.
  • Depository requirements. You will be required to make a deposit of at least $1 to open the account.

If you qualify, you should gather the following information before going to your local Bank of Melbourne branch:

  • Identification. The Bank of Melbourne will need to verify your identity using a photo ID. This could be with your passport or an Australian driver’s licence.
  • Other identification. You will also have to have available your Commonwealth Government Health Concession or Senior’s card.
  • Contact details. Your full name, date of birth, physical address and email address will all be asked for when applying.

An account specialist will assist you in preparing the application and setting up your account once your eligibility and identity have been confirmed. Once your account has been opened, you will be issued a welcome pack along with your Visa debit card in order to be able to access your money when you need it.


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