Hume Bank Cash Management Account
A savings account for big balances that lets you access your cash anywhere, anytime.
This account is a mix between a savings account and a transaction account, for those who can't quite decide which is the best fit for their saving / spending style. It offers interest on your balance, without penalising you for accessing your money. There are no account keeping fees, and it comes with an attached Visa Debit card with payWave for extra convenience. Interest rates are tiered, with the below rates applying to balances above $500,000.
Maximum variable rate
Base interest rate
Minimum opening balance
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 account offers the best of both worlds, it pays interest on your balance like a savings account, and offers easy access to your money like you would expect from an everyday transaction account. However, you need at least $5,000 to open an account.
No account keeping fees with free Visa Debit Card with payWave.
You receive four free electronic transactions each month including EFTPOS transactions. After this, transaction fees apply.
How to apply
If you're already a member of Hume Bank you can apply online for this account. If you are not a member, you will need to visit a local branch with ID such as a drivers licence or passport in order to apply for this account.