Access your savings any time with an award-winning Delphi Bank Midas savings account.
Delphi Bank Midas savings account makes it simple to save with 24/7 online banking access and a competitive interest rate. With funds available at-call and no account-keeping fees, you can enjoy the flexibility of withdrawing money as often as you want without penalties.
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Alison Banney is the banking and investments editor at Finder. She has written about finance for over seven years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.
Key features
Competitive interest rate of 0.15% p.a.
An interest rate of 0.15% p.a. is applied to all funds in the Midas account. Unlike some other savings accounts, you don't need to meet any deposit requirements or withdrawal restrictions to receive this interest rate.
Membership is required before applying for an account
Delphi Bank requires that you first become a member before you're able to apply for any of their accounts. The Midas account must be linked to an existing transactional account.
$10 minimum opening balance
You'll need to deposit a minimum of $10 to open this account.
24/7 online access
You have ongoing 24/7 access to your savings account using online banking.
$0 account-keeping fees
There are no monthly fees with the Midas account.
$0 transaction fees
There are no transaction fees on the Midas account. Money is transferred into and out of the account through a linked Delphi Bank transaction account.
No maximum deposit
There's currently no maximum limit to the amount that can be deposited to a Midas account. However, Delphi Bank reserves the right to set a maximum amount that may be deposited into your account, with immediate effect.
Direct debit available
Direct debit payments can be made through the Midas account.
If you like the flexibility and interest rate of the Midas account, you'll need to download and complete the New Customer Account Opening Form on their website.
Eligibility
Check first to make sure that you are able to meet the eligibility requirements:
Account status. You must have an existing Delphi Bank account.
Age. Only applicants aged 18 years or older will be considered to open the Midas account.
Residence. You must have a valid Australian residential address to open a Midas account.
Application requirements
Once you determine that these requirements can be met, you'll need to complete the application form with the following:
Personal information. You're going to be asked for your full name, date of birth, and physical Australian address.
Account information. You'll need to be an existing Delphi Bank customer and will be asked to provide your bank state branch (BSB), customer number and account name.
What happens after I submit my application?
Once you've downloaded and completed the application form, you'll need to call a Delphi Bank branch to make an appointment. You must submit the completed form during the appointment and if you meet all the eligibility criteria, the Midas account will be opened on the same day.
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