Bank of Melbourne Concession

Bank of Melbourne Concession

Fee Free Deposit


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 no account keeping fees, low transaction fees and easy accessibility in order to help manage your money easily.


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
Fee Free Deposit p.m.
Overseas ATM Withdrawal Fee
Overseas Eftpos Fee
Phone Banking
Internet Banking

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

Compare the following features with other accounts before deciding which is best for your banking needs. If you're not a concession card holder, consider looking at the range of other accounts offered by Bank of Melbourne instead.

No monthly fees.

There are no monthly account service fees for this account.

Easy accessibility.

You are able to access your account online, over the phone and through an ATM network.

Linked Visa debit card.

When you open a Concession Transaction Bank Account you will be issued a Visa debit card which can be used online or in-store, wherever Visa is accepted. Be advised that there is an $8,000 daily spending limit for the card.

Access ATMs for free in Australia and overseas.

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, plus up to 50,000 globally through the Westpac ATM Alliance. If you use an ATM overseas outside of the network, a $5 fee applies, plus any additional fees charged by the issuing financial institution.

Free staff-assisted transactions.

You are allowed an unlimited number of free staff-assisted transactions at any Bank of Melbourne branch, or over the phone.

Mobile banking available.

Bank of Melbourne has an app that can be downloaded for free 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.

No minimum balance requirements.

You are not required to maintain any minimum balance to keep your account open.

Foreign currency conversion fee of 3%.

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.

Must be a concession card holder.

You must either have a Commonwealth Government Health Concession Card or Senior’s card to qualify for this account.


  • Unlimited free staff-assisted transactions
  • $0 monthly account service fee
  • Access ATMs around the world for free within the Westpac Global ATM Alliance


  • There is a 3.0% foreign currency conversion fee
  • There is a $5 overseas cash withdrawal fee
  • Strict eligibility criteria applies for this account

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.

Documentation you'll need:

  • 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.


What happens next?

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.


Back to top Back to top Back to top

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site