The Finder app is here! 🥳🥳 Download the new Finder app!
Get your savings sorted.Take control of your money with the all-new Finder app. Now available for free for iOS and Android. It's your new way to save, sorted.
Do you want to open a savings account that supports your favourite charity or community organisation?
The Beyond Bank Community Reward Account is essentially a savings account that lets your money earn competitive interest in a tiered manner. The bank donates a percentage of your account’s average annual balance to a registered charity or community organisation of your choice every year. You get access to funds in your account in different ways. This account does not charge any account keeping fees.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Key features
Minimum balance
This account does not have a minimum balance requirement.
Account keeping fees
You don't have to pay any monthly account keeping fees to use this savings account.
Interest rates
The balance in your account will earn interest in a tiered manner. If the balance is up to $4,999, it earns 0.2% p.a. interest. If it is from $5,000 to $199,999, it earns 0.35% p.a. If the balance in your account exceeds $200,000, you'll earn 0.4% p.a. The bank calculates interest on your daily balance and pays it monthly.
Internet, mobile and phone banking
You can access account related information and perform different banking related functions using Beyond Bank's online and phone banking platforms. These include going through transaction history, checking account balances, transferring funds and paying bills. An iPhone and Android phone app lets you bank on the move.
SMS banking
The 'TEXT ME!' feature lets you access a range of information through simple text messages.
Banking at branches
Visiting Beyond Bank branches to transact is an option. You can make over-the-counter cash and cheque deposits for free. You get to make four free over-the-counter transfers and cash withdrawals per month, after which you have to pay a $4 fee per transaction. These exclude transfers made using the bank's Member Contact Centre.
Bank@Post
You can visit Australian Post Bank@Post outlets to transact, in which case you'll have to pay applicable fees.
Free transactions
Direct credits into your account don't attract any fees. You can transfer funds between your Beyond Bank accounts using the bank's online and mobile banking platforms as well as its Account Information Line. Transferring funds to accounts held with other Australian financial institutions using online and phone banking is free. Making BPAY payments using online banking, phone banking or the Account Information Line is also free.
Community rewards
Beyond Bank calculates a percentage of your account's average annual balance and donates the amount to your nominated organisation. This can be a charity, local sporting club, local community group or school. In case the organisation you wish to make the donation to is not on Beyond Bank's list, you can get it to register first.
How to apply
Eligibility
You can apply for the Community Reward Account by visiting any Beyond Bank branch, you can get started over the phone or you can submit an online enquiry. To enquire online or to locate your nearest branch, visit Beyond Bank website. To open this account, you have to meet basic eligibility criteria:
Residency requirements. You are a resident of Australia and have an Australian residential address
Depository requirements. This account does not require you to maintain a minimum ongoing balance.
Documentation needed
Completing the account successfully requires that you submit different kinds of information, which includes:
Identification. If you're not an existing Beyond Bank customer you'll have to go through an identity verification process, as required by the law. You can complete this process using an acceptable form of ID such as your Australian driver's license, passport or Medicare card.
Tax file number. It is not mandatory to provide your tax file number. However, submit it if you don't want the bank to deduct withholding tax from the interest your money earns.
Other information. The application also requires details such as your name, date of birth, home address, phone number and email address.
What happens after I submit my application?
The bank opens your account as soon as you complete the required formalities, which includes the legally required ID check.
Ask an expert
To ask a question simply log in via your email or Facebook or create an account.
Thanks for your inquiry. Please note that we are not affiliated with Beyond Bank or any company we feature on our site and so we can only offer you general advice.
If you are referring to Beyond Bank Community Reward Savings Account, you can send money overseas quickly and reliably using our International Transfer service. This can be done at a Beyond Bank branch or over the internet using our Internet Banking service.
You may contact Beyond Bank directly for further assistance or visit their official site.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
