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Bank of Sydney Everyday Saver Account

Advertiser disclosure
Account fee
$0.00
Payment options
Apple Pay, Google Pay, Samsung Pay
Interest rate
0% p.a.

Mozo editorial review Bank of Sydney Everyday Saver Account

Last updated: 10 November 2020.

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What's hot
  • Earn 0.01% p.a. interest on balances over $50,000
  • No account fees
  • Optional Visa Debit Card
What's not
  • 0.00% p.a. interest rate for balances under $50,000
Mozo snapshot

An everyday bank account that pays interest, yes, you read correctly. The Everyday Saver Account from Bank of Sydney (BOS) has a 0.01% p.a. interest rate for balances over $50,000 and it won't cost you a cent to keep in your wallet. There are no monthly account keeping fees, you get free ATM withdrawals from any BOS or rediATM and unlike some banks that charge for over the counter deposits or withdrawals, these are also free.

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Key features

The BOS Everyday Saver has a standard interest rate of 0.01% p.a for balances over $50,000 and 0.00% p.a. for balances under $50,000, which is almost unheard of these days for an everyday transaction account, especially one with no monthly account fees. 

The account has an optional Visa Debit Card which is great if you are planning on travelling overseas or shopping online. It comes chip enabled so you'll also be able to "tap n go" for purchases under $100 in Australia wherever Visa is accepted. 

You can use the BOS Everyday Saver ATM and Visa Debit Card overseas for making withdrawals and purchases. With the standard BOS ATM card or the Visa Debit card, overseas ATM withdrawals are free (another unheard of.) For both card options there is a 3% foreign exchange margin on all overseas transactions so factor this into your travel budgeting.

Applying for the Bank of Sydney Everyday Saver is easy, if you're not near a branch you can apply online. Plus you'll get access to online banking.

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Who is it good for

This account is good for people who are looking for an everyday account which is low on fees and great on flexibility.

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Any catches

There's a $1000 daily ATM withdrawal limit, so just watch this if you need to make a large purchase.

Details

Rates and fees information correct as at 27 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.00% p.a.
    Balances from $50,000: 0.01% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Free unlimited ATM withdrawals from any Bank of Sydney or RediATM in Australia. Free unlimited EFTPOS transactions and balance enquiries.

  • $0.00

  • Bank of Sydney, RediATM

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

  • $0.00

  • 3.00%

  • $0.00 annually

Other financial bits
  • $0.00

  • $0.00

Features
  • $1,000.00

  • yes

  • no

  • yes

  • yes

  • no

  • yes

  • yes

  • none

  • none

Atm card
  • $0.00

  • $0.00

  • 3.00%

Debit card
  • $0.00

  • $0.00

  • 3.00%

Payment options

Apple Pay, Google Pay, Samsung Pay

Customer Reviews

How are Bank of Sydney bank accounts rated by the Mozo community?

Overall
6.8/10
Price
6.6/10
Features
7.6/10
Customer service
7.7/10
Convenience
6.9/10
Trust
7.3/10

Latest reviews of Bank of Sydney Everyday Saver Account

  • Overall 2/10
    Clunky, clumsy and frustrating

    Their general banking procedures are very clunky - could never do anything I asked over the phone, instead requiring me to send a 'secure message' via online banking (that times out before you are done without telling you! and you lose the message you've carefully composed when you try to send), then once you re-type your instructions, you require an sms code to even be able to send the message, despite the fact that you are logged into your online banking and sending the message from and within their secure mailbox! Then they call you on the phone to confirm your instructions despite refusing to accept your instructions over the phone in the first place. There is also no way to get more than $10K (either transfer or bpay) via online banking, regardless of your transfer limits without incurring a substantial fee. I'm switching, I've had enough hassle!

    Read full review

    Their general banking procedures are very clunky - could never do anything I asked over the phone, instead requiring me to send a 'secure message' via online banking (that times out before you are done without telling you! and you lose the message you've carefully composed when you try to send), then once you re-type your instructions, you require an sms code to even be able to send the message, despite the fact that you are logged into your online banking and sending the message from and within their secure mailbox! Then they call you on the phone to confirm your instructions despite refusing to accept your instructions over the phone in the first place. There is also no way to get more than $10K (either transfer or bpay) via online banking, regardless of your transfer limits without incurring a substantial fee. I'm switching, I've had enough hassle!

    Price
    1/10
    Features
    -1/10
    Customer service
    5/10
    Convenience
    1/10
    Trust
    6/10
    Less
    Hal, New South Wales reviewed 7 days ago
  • Overall 5/10
    Greedy

    It's a bank we both want to spend my money differently.

    Read full review

    It's a bank we both want to spend my money differently.

    Price
    5/10
    Features
    6/10
    Customer service
    4/10
    Convenience
    8/10
    Trust
    2/10
    Less
    Daniel, New South Wales reviewed 5 months ago
  • Overall 7/10
    It's a good bank

    It's a good bank

    Read full review

    It's a good bank

    Price
    6/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -
    Less
    Michelle, New South Wales reviewed over 3 years ago
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