Young girls playing on a skateboard.

Give the interest you pay a push in the right direction.

Young girls playing on a skateboard.

Reduces interest payable on your home loan.

A day-to-day digital banking account.

Zero local online transaction fees.

Access to our award-winning app.

For whatever you need, for whatever’s ahead, the Offset account is the way to manage your day-to-day banking to reduce the interest payable on your home loan.

The offset account also gives you zero local online transaction fees, extensive digital banking choices and access to our award-winning app.

Key features.

  • No monthly account-keeping fees.
  • Access to more than 7,000 fee-free local ATMs.
  • All the convenience of digital banking.
  • Faster, simpler ways to make payments.
  • Your choice of Camo-coloured Visa Debit card.
  • Immediate transfers between institutions.
  • Compatible with digital wallets from Apple, Fitbit, Garmin, Google and Samsung.

The Offset account works by using 100% of the balance to ‘offset’ or effectively reduce the portion of your home loan accruing interest. For example, if your Defence Bank home loan had a balance of $350,000 with $50,000 linked to our Offset account, you would only pay interest on $300,000 of your loan balance.

To get everything running super smoothly, you’ll need to have the facility set up by your home loan consultant. Or contact your nearest branch or our Contact Centre on 1800 033 139 to arrange.

Offset Account Interest rate.0 Comparison rate.
Interest rate. 0.00% p.a. n/a

This fees and charges schedule is an important document and provides you with information about the fees and charges for domestic and overseas transactions applicable to the accounts and facilities we offer.

We have two fees and charges schedules, one for domestic transactions and the other for international transactions. This fee schedule sets out our fees and charges for transactions that you make overseas or involve transferring funds into or sending funds out of Australia.

We encourage you to read both schedules. You can obtain copies for both of these fee schedules via defencebank.com.au, by visiting your local branch or calling 1800 033 139. This document should be read in conjunction with the Defence Bank Products and Services – Conditions of Use (DPS).

We also publish a brochure - ‘Tips on Reducing your Banking Fees with Defence Bank’, which can be obtained via defencebank.com.au, by visiting your local branch or calling 1800 033 139.

Domestic transactions.

Fees. Fee description. Charge.
Declined EFTPOS transactions (insufficient funds). The fee charged by us when you seek to make an
EFTPOS transaction but your request is declined
due to insufficient funds in your account.
$1.50
Other Australian ATMs and balance enquires. Where you withdraw cash or make a balance
enquiry.
Free - at major banks; and $ATM direct charge.*
Declined transactions at an ATM. The fee charged when you seek to withdraw cash
from an ATM but your request is declined due to
insufficient funds in your account.
$0.50
Ultimate Package fees (for Banking Package holders). Package fee - For Banking Package holders. $380 per annum.
Cash advance fee (Australia Post and other banks). Payable where you obtain a cash advance at an
Australia Post office or a branch of another bank.
$4.10
Statement fees.    
  Statements of accounts are issued 6 monthly or monthly where you have a line of credit or overdraft facility with us. $0
  Where you request monthly statements. $2
Cheque/direct debit honour /dishonour fee.  Charged when:
  • We decide to honour your personal cheque for payment where there are insufficient funds in your account or the credit limit will be/has been exceeded.
  • We dishonour payment of your personal cheque due to insufficient funds, payment stopped or the cheque is incorrectly completed (e.g. no signature).
  • We decline a direct debit request due to insufficient funds.
  • We decide to honour a direct debit request where there are insufficient funds in your account or the credit limit will be/has been exceeded.
$25
Auto transfer/BPAY dishonour fee. Charged where there are insufficient funds in your
account when the Auto Transfer or BPAY payment
is due to be made.
$10
Overdrawn/over limit fees. Charged:
  • Each time your account is overdrawn or your credit limit is exceeded without authorisation, by more than $50.00.
  • On each subsequent debit transaction while your account is overdrawn or your credit limit has been exceeded, by more than $50.00.
$10
Dormant fee. This fee may be charged in certain circumstances
when your membership is redeemed by us due
to non-activity of more than 12 months. The
maximum annual fee that applies is:
$20
Cheque book fee.    
  25 cheques. $18.75
  50 cheques. $37.50
[email protected]™. For each cheque deposited through the [email protected]
system and subsequently dishonoured.
$14.47
Cash handling fee. Charged for handling notes and coins for business
transactions.
 
  Up to $500. $5
  Over $500. 2% of value of cash handled.
Record search fee. Charged where you request we search our records
and retrieve documents.
$50 per hour plus out of pocket expenses.
Same day domestic transfers (via Swift/RTGS). Charged when funds transferred domestically via
Swift/RTGS (same day).
 
  Outward bound. $11.80
  Inward bound. $6.80

 

Overseas transactions.

Fee name. Fee description. Fee amount.
Visa cash advances overseas (ATM and Bank transactions). The fee we charge when you obtain a cash advance using a Visa Card overseas. $4.10
Visa foreign currency conversion fee. The fee we charge when you make a payment or a deposit or obtain a cash advance overseas. 3% (percentage of transaction value).
Emergency card replacement. The fee we charge when you request that we replace your Visa card while you are overseas. $US175.00
Emergency cash - max $1,000 (your choice). The fee we charge when you request emergency cash while overseas other than through an ATM. The maximum amount of emergency cash available is $1000 (at our discretion). $US175.00
Mastercard prepaid management services. The fee we charge where you hold a Mastercard Cash Passport Platinum Travel Money Card and you transfer funds to that Card. 1% of the initial load/reload amount.
We have arranged for the following services to be provided to you by Western Union Business Solutions (WUBS). WUBS may charge an extra fee for the services, additional to the fee charged by us as specified below. Please refer to WUBS schedule of fees and charges for further details.
Foreign cash. The fee we charge when you request cash in a foreign currency. foreign currency.
1% of the $AUD equivalent of the amount requested.
Bank draft. The fee we charge when you request a bank draft denominated in foreign currency. $12.50
Outbound foreign currency international telegraphic transfer. The fee we charge when you request we make a foreign currency telegraphic transfer to an overseas destination.

$30 when requested at a branch.

$20 when requested via online banking or the mobile app.

(Debited to your account overnight).

Outbound AUD telegraphic transfer. The fee we charge when you request we make an AUD denominated telegraphic transfer to an overseas destination. $50.00 when requested at a branch.
Foreign currency cheque. The fee we charge when you deposit a cheque denominated in a foreign currency to your account.

$15.00 (less than AUD $25,000.

$65.00 (AUD $25,000 and above).

Foreign cash. The fee we charge when you deposit foreign cash to your account.

$7.00 (less than AUD $700 equivalent).

1% of the AUD equivalent (greater than AUD $700 equivalent).

 

We may change our fees & charges and interest rates from time to time.

All products except foreign currency and insurance are issued by Defence Bank. Defence Bank recommends you read the Defence Bank Products and Services - Conditions of Use for any product you choose to take. Any advice contained on this website is general advice only.

Next steps...

We offer a range of DHOAS-compatible home loans for owner-occupiers.
Use our home loan calculators to see how your dream home fits into your budget.
Any questions? Talk to one of our experienced, helpful staff.
Find a home loan consultant at a branch near you.

Frequently asked questions.

  • Our Offset account is a convenient way to save yourself money on your home loan.
  • Money is readily available.
  • The interest you save on your loan can be greater than interest you earn in a regular savings account.
  • It’s a day-to-day transactional account with convenient card access, including digital banking and access to our award-winning app.

First, to have everything run super smoothly, you’ll need to have the facility set up by your home loan consultant. Or contact your nearest branch or our Contact Centre on 1800 033 139 to arrange. Once your home loan is linked to the Offset account, simply make a deposit. You can choose to add a Visa Debit card to your account for easy access. However, try to maximise every dollar and keep as much money in the Offset account as possible.

You can also have your salary, or other deposits, credited straight to the Offset account. That way, you get the immediate benefit of saving on your home loan interest.

Every dollar you have in your linked Offset account saves you interest every day it’s there. Even maintaining a balance of a few hundred dollars can save thousands in interest.

Your home loan interest is worked out each day, calculated on the balance of your loan (and then charged monthly).

You may also like...

DHOAS home loans.
Home and contents insurance.
Our award-winning app.
Digital wallet.

Let's talk.

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