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The Bank of Sydney SmartNet gives you the features of a high interest savings account and transaction account all in one. Maintain a deposit of more than $10,000 and less than $24,999 and get rewarded with 0.05% interest. Other rates apply for different account balances. Make ATM withdrawals, purchases and transfer money. This account gives you a Visa Debit Card and unlimited online transfers.
$0
Account keeping fee
$2
ATM withdrawal fee
3%
Overseas transaction fee
of transaction value
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Product Name | Bank of Sydney SmartNet - DISCONTINUED |
---|---|
Monthly account fee | $0 |
Card access | Visa |
ATM Withdrawal Fee | $2 |
International transaction fee | 3% |
Monthly deposit required to waive account fee | N/A |
Review by
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This is a convenient two-in-one account that’s a mix between an everyday transaction account and a savings account. You get at-call access to your money, which means you can access it at any time without restrictions. It comes with a Visa Debit Card that you can use to make purchases online, in store via EFTPOS and to withdraw your cash at ATMs.
At the same time, you’ll also earn interest on your balance. This isn’t common for an account that offers at-call access to your money. On balances up to $10,000 you’ll earn 0.05% interest. And the interest rates are tiered, so you’ll earn even more interest on larger balances.
This interest rate isn’t nearly as high as what you’d get from a savings account, but the majority of savings accounts don’t offer at-call access to your money. So in terms of a transaction account, this interest rate is actually quite generous.