Man with dog in field.

Your money comes to you when you call.

0 .75 % p.a. $50,200.01 plus (variable rate).
0 .05 % p.a. $0.00 to $50,200.00 (variable rate).
Man with dog in field.

Flexible, at-call savings account.

Great savings rate.

Multiple ways to access your money.

Australia-based Contact Centre.

Our smart Pension Saver account is ready to go for whatever’s ahead in your retirement. Available to individuals and couples 55 years an over, this savings account is a simple, ready-made option to help make your money work harder for you.

Key features.

  • At call, no minimum deposit.
  • Visa Debit Card access.
  • Secure your Card. Temporarily block and unblock your card.
  • Your choice of camo-coloured Visa Debit card.
  • A tiered variable interest rate.
  • Save as you spend with Round Ups (facility available).
  • No monthly account-keeping fees.
  • 24/7 access in online and mobile banking.
  • Compatible with digital wallets from Apple, Fitbit, Garmin, Google and Samsung.
  • Your choice of camo-coloured Visa Debit card.
  • Send and receive payments within 60 seconds using Osko and PayID.
Pension Saver. $50,200.01 plus. $0.00 to $50,200.00.
Interest rates. 0.75% p.a. 0.05% 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.
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. $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. 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
Bank@Post™. For each cheque deposited through the Bank@Post system and subsequently dishonoured. $14.47
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).

 

Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year. The first $50,200.00 earns interest at the lower interest rate regardless of account balance.

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.

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