How do I open an Essential Saver account?

You can open an Essential Saver account as either a member or a customer of the bank.

• Existing members can open an account instantly through Internet Banking.
• Not a member yet? You can apply to become a member online.
• If you prefer to open the account as a customer, simply complete the customer application form.

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How can I access my Essential Saver account?

You can access your Essential Saver account anytime using Internet Banking, the Mobile App⁵, or by visiting a branch.

• Online: Login to Internet Banking to check your balance, transfer funds, or manage your account.
• Mobile: Use the Mobile App⁵ for secure access on the go.
• In branch: Visit your nearest branch for in-person support or assistance.

Find out more about ways to bank with us.

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Are my savings safe in an Essential Saver account?

Yes. Your deposits with us are protected under the Australian Government Financial Claims Scheme, up to a limit of $250,000 for each account holder at the Bank. For more information visit the Financial Claims Scheme webpage.

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Are there monthly fees on the Essential Saver account?

No. The Essential Saver has no monthly account fees, no overdraw fees, and no electronic transfer fees. Other fees and charges may apply. Please see our Fees and Charges for more information.

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Does the Essential Saver account offer bonus interest?

No. The Essential Saver offers a great variable interest rate based on the tier your balance falls within. There are no bonus conditions to meet.

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Is there a deposit limit for the Essential Saver account?

There’s no maximum deposit limit¹. You can save as much as you want and you’ll earn the applicable variable rate for your balance tier. Deposits over $5,000,000 (in aggregate across all your savings accounts) are subject to acceptance at the bank's discretion.

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Can I open an Essential Saver account as a joint account?

Yes. You can open an Essential Saver account with up to two account holders who both need to be members. If you want both account holders to authorise withdrawals, you’ll need to either:

• Visit a branch together, or
• Call the contact centre with both members present, or
• Complete and sign the Transaction and savings account application form for the account to be set up.

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