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August 2017 bank account promotions that give you money back

You could be given special offers, deals and discounts just for opening a new account.

Banks are now rewarding both new and loyal customers. See how you can take advantage of what the banks are offering and use it to your benefit.

St.George Complete Freedom Account

10% Cash back for online gaming purchases

Enjoy low monthly account-keeping fees with St.George Complete Freedom Account and $0 ATM fees.

  • $0 monthly fee when at least $2,000 is deposited per month or open a Complete Freedom Student account, otherwise a fee of $5 applies per month
  • $0 ATM withdrawal fee at 50,000+ ATMs globally
  • Visa Debit with payWave

    Choose a bank account with rewards

    Rates last updated August 23rd, 2017
    $
    Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
    ANZ Access Advantage
    Apple Pay, Android Pay & ANZ Mobile Pay.
    Take advantage of Apple Pay by linking your ANZ Visa Debit card to an eligible iPhone and seamlessly pay for purchases with your phone.
    Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at ANZ ATMs. Go to site More
    ING Orange Everyday Account
    $75 cash bonus & Apple Pay available.
    Get a competitive ongoing variable rate when linked with an ING Savings Maximiser.
    Visa $0 $1,000 $0 monthly account keeping fees. Unlimited free withdrawals at any ATM in Australia if you deposit $1,000 each month. Go to site More
    Bankwest Easy Transaction Account
    Get up to $50 cash back per month for new customers (conditions apply).
    Click on "More" to see full conditions.
    Mastercard $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $6 monthly fee applies. Unlimited free withdrawals at CommBank, NAB, ANZ, Westpac, St.George, Bank of Melbourne and BankSA ATMs. Go to site More
    St.George Complete Freedom Student Account
    10% Cash back for online gaming purchases and $50 cash bonus offer.
    A student bank account with a linked Visa debit card and Mobile + Phone banking.
    Visa $0 $2,000 $0 account keeping fee for students. Unlimited Free withdrawals at St.George, Bank of Melbourne, BankSA and Westpac ATMs. Go to site More
    St.George Complete Freedom Account
    10% Cash back for online gaming purchases and $50 cash bonus offer.
    Waived account keeping fees when minimum deposit is met with no minimum balance.
    Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 fee applies. Unlimited free withdrawals at St.George, Westpac and BankSA ATMs. Go to site More
    Bankwest Qantas Transaction Account
    Earn Qantas Points on eligible purchases and on your account balance.
    Conditions apply.
    Mastercard $0 $2,000 $0 account keeping fees when you deposit at least $2,000 into your account each month. Otherwise, a $6 monthly fee applies. Unlimited Free withdrawals at Bankwest and CommBank ATMs in Australia. Go to site More

    finder.com.au's featured bank accounts with rewards

    RewardDebit Card Access
    ING Orange Everyday Account$75 Cash Bonus. Get a competitive ongoing variable rate when linked with a Savings Maximiser.Visa
    Bankwest Qantas Transaction AccountEarn Qantas Points on eligible purchases and on your account balance. Conditions apply.Mastercard
    HSBC Day to Day Transaction AccountYour Visa debit card unlocks special privileges worldwide with the HSBC home&Away Privilege Program.Visa

    What special promotions do I receive for savings accounts?

    Every individual should have a savings account for storing extra money, even children should start a savings account early so that they learn the proper value of money and how to save for long-term goals.

    It is quite common to see online savings accounts since more and more Australians are turning to the Internet to do their banking. When you open a new bank account online for savings there are some regular features that you should expect on the account. These include:

    • Interest added monthly to your new bank account.
    • Interest worked out on a daily basis.
    • A minimum amount is not required.
    • No limits for withdrawal or deposit amounts.
    • Transactions are limited. In most cases you will not be able to have access to debit and credit cards, overdraft, branch services and withdrawals from ATMs.
    • Processing for credits and debits are usually free.

    Banks and other financial institutions understand that many people prefer the convenience of online banking and the rate of interest for online bank accounts is usually higher than the basic savings accounts. If you're the type of person, however, that still likes to walk into the bank to do your transactions, you will have to weigh the pros and cons of both savings accounts.

    What special deals do I receive for opening a new term deposit?

    Term deposit accounts have the attraction of offering interest rates that are usually comparable to the rates you would get with a new high interest online savings account. The interest rate on these types of accounts is fixed for the term duration. This is good news if the interest rates go down, and not so good news if they rise.

    The nice thing about them is you can plan your savings with a stable rate and know exactly how much interest you will get. There is an option of annual or monthly terms and you can be paid interest yearly or monthly depending on your preference.

    When you are comparing new bank account promotions you should look for any hidden costs and how much interest is paid yearly. There can be very large differences between these new bank account offers, and with careful consideration you can end up walking away with a fantastic deal.

    Opening up a new bank account to take advantage of a great promotion does not take a lot of time or effort on your part. If you spend a bit of time comparing the different offers available you may end up earning a lot more on your accounts than you are with any of your current accounts.

    Shirley Liu

    Shirley is finder.com.au's publisher for banking and investments. She has completed a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

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