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May 2018 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.
 
 

Bank Account Offer

NAB Classic Banking

Bank Account Offer

Impressive digital perks. $0 monthly account fee. Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone. Temporarily block your card at the touch of a button if you lose it.

  • Account keeping fee: $0.00
  • Linked debit card: Visa
  • ATM withdrawal fee: $0.00
  • Overseas EFTPOS fee: 3%
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Choose a bank account with rewards

Rates last updated May 25th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
NAB Classic Banking
Visa
$0
$0
Receive 1% cashback on contactless purchases with a NAB Platinum Visa debit card and enjoy complimentary overseas travel insurance (conditions apply).
ING Orange Everyday Account
Visa
$0
$1,000
Receive a $75 cash bonus if you open a new Orange Everyday account and make 5+ card purchases within a calendar month, enter the promotional code and deposit at least $1,000 within a calendar month (conditions apply).
NAB Classic Banking with Platinum Visa Debit Card
Visa
$0
$0
Receive 1% cashback on contactless purchases with a NAB Platinum Visa debit card and enjoy complimentary overseas travel insurance (conditions apply).
St.George Complete Freedom Account
Visa
$0
$2,000
Open an account by June 29th, deposit $500 within 45 days of opening the account (or $250 for students & under 21's) and you'll receive a $50 cash bonus (conditions apply).
Bank of Melbourne Complete Freedom
Visa
$0
$2,000
Open an account by June 29th, deposit $500 within 45 days of opening the account (or $250 for students & under 21's) and you'll receive a $50 cash bonus (conditions apply)
BankSA Complete Freedom Account
Visa
$0
$2,000
Open an account by June 29th, deposit $500 within 45 days of opening the account (or $250 for students & under 21's) and you'll receive a $50 cash bonus (conditions apply)
Bankwest Qantas Transaction Account
Mastercard
$0
$2,000
Earn 12 Qantas Frequent Flyer points per $100 in your account each month.

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February 2018 featured bank account promotions

  • ING Orange Everyday account - $75 cash bonus

Not only will you receive a $75 cash bonus if you open a new Orange Everyday account (conditions apply), you also get a competitive ongoing variable rate when you link the account with a Savings Maximiser.

  • St. George Complete Freedom account - $50 cash bonus

Receive a $50 cash bonus when you open a new account and deposit $250, and enjoy waived account keeping fees when minimum deposit is met with no minimum balance.

  • NAB Classic Banking account - 1% cashback on contactless purchases

With a Visa Platinum Debit card, you'll receive 1% cashback on contactless purchases, no foreign currency fee on international purchases and a complimentary travel and lifestyle assistant.

  • Bank of Melbourne Complete Freedom account - $50 cash bonus

Receive a $50 cash bonus when you open a new account and deposit $250 and access to a free spend tracker that groups all your transactions to help you budget.

  • Westpac Choice student bank account - $50 cash bonus

If you're under 21 or studying full-time, you'll receive a $50 cash bonus when you open a new account and deposit $250. You'll also receive a complimentary student discount card and a 12-month waiver of your monthly service fees.

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.

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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Important Information*
Bankwest Hero Saver

Maximum Variable Rate

2.60

Standard Variable Rate

0.01
Bank Australia Bonus Saver Account

Maximum Variable Rate

2.60

Standard Variable Rate

0.15
Citibank Online Saver

Maximum Variable Rate

2.85

Standard Variable Rate

1.70
AMP Saver Account

Maximum Variable Rate

2.55

Standard Variable Rate

2.10
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