Black boots and shoe polish.

Very shiny.

1 .00 % p.a. Interest rate.
Black boots and shoe polish.

High variable savings rate that’ll motivate you to save more.

No account fees means more money in your savings.

Fee-free EFTPOS.

Fee-free at ATMs with us and major banks.

Our Cadet Saver account will have you and your savings looking good. Created especially for cadets aged 12 to 17 years, it doesn’t matter if you’re a spender or saver - we’ve got your back on both with no fees and a great interest rate for savings.

Bank anywhere with the convenience you expect via Online Banking and our award-winning app on both Android and iOS. Link it to your very own camo Visa Debit card, this way your money will never be far away, thanks to Visa payWave, Apple Pay, Google Pay or Samsung Pay.

Key features.

  • No account fees.
  • No fees for over 10,000 ATMs across Australia, including those of Defence Bank and the major banks.
  • No transaction fees on EFTPOS.
  • No fees for BPAY transactions or BPAY View transactions conducted through online or mobile banking.
  • No online banking fees including external transfers and auto transfers.
  • No monthly fees on a connected Visa Debit Card.
  • No fees for SMS or email alerts.
  • No Bank@Post withdrawal fees.
Interest rate. Annual rate.
Cadet Saver rate. 1.00% p.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. Fee amount.
Statement fees. 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
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 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).
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).

 

*

 The ATM direct charge fee which is levied by the ATM Operator will be displayed on the ATM screen.

For children and teens aged between 12-17 years. At 18 years we will convert your account into an Everyday Access Account.

Interest is calculated daily on the closing balance and credited on 31 March each year.

Available only for deposits up to $1 million.

We may change our fees & charges and interest rates from time to time. For more details on our fees & charges, refer to the Fees and Charges (Domestic Transactions) & Fees and Charges Schedule (Overseas Transactions). For more details on interest rates, refer to the relevant Interest rate schedules. All schedules are located here.

All products except foreign currency facilities, insurance and superannuation are issued by Defence Bank. Before acquiring a product, Defence Bank recommends you read the Defence Bank Products and Services - Conditions of Use, the Summary of accounts and access facilities, The visa debit – conditions of use (where relevant). All documents are located here.

Any advice contained on this website is general advice only and does not take into account your needs, objectives or your financial situation.

Defence Bank’s Target Market Determination can be viewed here.

Next steps...

Discover our resources for creating a solid personal budget.
Get clear oversight on your finances with our useful savings calculator.
Any questions? Speak to our experienced, helpful staff.
Not a member? Join Defence Bank now.

Frequently asked questions.

Definitely. If you’re already a member and the account is only in your name, you can log into your online banking and open a new account under the ‘Apply’ section, or you can give us a call. If it’s a joint account, we can send you both the form to complete. If you’re not yet a member, you can join now and open accounts during the set up process.

Find out how to join Defence Bank.

 

Our Everyday Access account is free from account keeping, domestic transactional and transfer fees. Some fees that apply are if the account is used incorrectly, such as EFT decline fees and direct debit dishonours. There are also overseas fees, some ATMs and merchant fees. For a full overview, have a look at our domestic and overseas fees and charges schedules.

 

Even though we’ve traditionally focused on the Australian Defence Force, you don’t have to be a Defence Force employee or relative to take advantage of Defence Bank’s products and services – membership is open to all Australians.

You may also like...

Teen Saver.
Everyday Access account.
Digital wallet.
Max eSaver.

Let's talk.

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