Flag flying from a pole.

Salute account.

Our reward-for-service bonus interest account.*

2 .25 % p.a. Bonus rate (first 12 months).
0 .75 %^ p.a. Base rate.
Flag flying from a pole.

Rewards deployment.

Rewards your service milestones.

A high bonus interest for 12 months.

Australia-based Contact Centre.

Our Salute account rewards Australian Defence Force members who have been deployed, have reached 15 and 25 years of service or have transitioned with bonus interest for 12 months.* For those who’ve been deployed as part of Operation Bushfire Assist or Operation Covid-19 Assist, you may be eligible for the Salute account. It’s our little way of saying ‘thank you’.

Eligible milestones.

Each time you first reach one of the following milestones you may open a Salute account:

  • You have reached 15 or 25 years of service in the ADF.
  • You are deployed.
  • You start receiving a seagoing allowance.
  • You retire from the ADF.
  • You resign from the ADF.
  • You are discharged from the ADF on medical grounds.

I have achieved a milestone, what do I do now?

  1. Within 90 days of achieving a milestone, complete a Salute account application form.
  2. Deliver your application form and supporting evidence to a

When you open a Salute account, you must make a minimum monthly deposit of $1,500 into an Everyday Access account during the bonus rate period.

At the end of the 12-month period, your interest rate will revert to the then current Salute account base rate.

Salute. Bonus rate (first 12 months). Base rate.*
Salute account interest rate. 2.25% p.a. 0.75% 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 amount.
Domestic online, over the counter and EFTPOS transaction Fees (based on number of transactions). $0
Monthly/Periodic account keeping Fees (no min. deposit requirement). $0
Replacement Visa card (in Australia). $0
Declined EFTPOS transactions (insufficient funds). $1.50
Defence Bank ATMs. $0
Other Australian ATMs and balance enquires. Free - at major banks; and $ATM direct charge.*
Declined transactions at an ATM. $0.50
Ultimate Package fees. $380 per annum.
Term deposit early withdrawal fee. $30
Cash advance fee (Australia Post and other banks). $4.10
Bank cheques. $0
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.
Auto transfer/BPAY dishonour fee. $10
Overdrawn/over limit fees. $10
Dormant fee. $20
Cheque book fee.  
- 25 cheques. $18.75
- 50 cheques. $37.50
[email protected]™. $21.72
Cash handling fee.  
- Up to $500. $5
- Over $500. 2% of value of cash handled.
Record search fee. $50 per hour plus out of pocket expenses.
Same day domestic transfers (via Swift/RTGS).  
- 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).



Product available only for members who meet an ADF milestone listed in our Defence Bank Product
and Services - Condition of Use. The base rate applies for any amount after 12 months. The base rate also applies for any amounts above $100,000 during the first 12 months.


For both the bonus rate and the base rate the following applies:Interest is calculated daily on the closing balance and credited on the last day of each month. Rates offered are subject to terms and conditions in the Defence Bank Product and Services - Condition of Use.

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...

Discover our resources for creating a solid personal budget.
Get clear oversight on your finances with our useful savings calculator.
Any questions? Talk to one of our experienced, helpful staff.
Start now with our fuss-free online application process to get your savings going.

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.
Become a member.


Our Everyday Access account is free from account keeping, transactional, and transfer fees. The only fees that apply are if the account is used incorrectly, such as EFT decline fees and direct debit dishonours. For a full overview, have a look at our Fees and Charges Schedule.
View our fees and charges.


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...

Everyday Access account.
Digital wallet.
Our financial guide on transitioning from the ADF.

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