Defence Bank savings account reviews

Defence Bank
Defence Bank's overall rating for savings accounts

(as rated by the Mozo community)

7.9 / 10

based on 15 reviews

Price

Features

Customer service

Convenience

Trust

Featured savings account from Defence Bank

Recent Defence Bank savings account reviews

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   8 / 10

Great service to Defence

A great bank for Defence members providing fast and easy banking. It is awesome to have a bank tailored to Defence members and it has easily accessible money overseas.

Full review

A great bank for Defence members providing fast and easy banking. It is awesome to have a bank tailored to Defence members and it has easily accessible money overseas.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Tony (NSW), reviewed almost 2 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

Great rates and great service, with a smile.

Defence bank treats you like a family member. They know who you are and call you by your name , you are not a number to them. The staff are friendly and go out of their way to help you. Amazing bank and amazing people.

Full review

Defence bank treats you like a family member. They know who you are and call you by your name , you are not a number to them. The staff are friendly and go out of their way to help you. Amazing bank and amazing people.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lorraine (QLD), reviewed over 2 years ago

Defence Bank

Defence Bank savings account review

Overall rating   10 / 10

Excellent

No additional comments at this time. Service of the "Defence Bank" is exceptional.

Full review

No additional comments at this time. Service of the "Defence Bank" is exceptional.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Pieter (WA), reviewed over 2 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   5 / 10

Great customer service

Owing to the placement of the bank - time taken to complete transactions are always increased.

Full review

Owing to the placement of the bank - time taken to complete transactions are always increased.

    Price   5 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   2 / 10

    Trust   5 / 10

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Peter (QLD), reviewed over 2 years ago

Defence Bank

Defence Bank savings account review

Overall rating   9 / 10

Defence Bank

Defence credit union are always friendly and trustworthy. Interest could be a little better.

Full review

Defence credit union are always friendly and trustworthy. Interest could be a little better.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Liz (NSW), reviewed over 2 years ago

Defence Bank

Defence Bank savings account review

Overall rating   9 / 10

Great customer service

Good interest rates, lovely staff, very helpful.

Full review

Good interest rates, lovely staff, very helpful.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lynette (VIC), reviewed over 2 years ago

Defence Bank

Defence Bank savings account review

Overall rating   8 / 10

Fantastic customer service

The staff are extremely helpful, more so as we are travelling and can't easily get to a branch. A simple phone call gets results, and the issue is solved. Would recommend Defence Bank at any time!

Full review

The staff are extremely helpful, more so as we are travelling and can't easily get to a branch. A simple phone call gets results, and the issue is solved. Would recommend Defence Bank at any time!

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   5 / 10

    Trust   10 / 10

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Mike (NSW), reviewed almost 3 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   9 / 10

Has all the features you want, no bells & whistles

I like that the bank is a not for profit organisation so it is running for the benefit of its members and not shareholders. They understand the military and assist in being flexible where possible.

Full review

I like that the bank is a not for profit organisation so it is running for the benefit of its members and not shareholders. They understand the military and assist in being flexible where possible.

    Price   9 / 10

    Features   2 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Carolyn (NSW), reviewed almost 3 years ago

Defence Bank

Defence Bank Max eSaver savings account review

Overall rating   8 / 10

Fantastic service.

Defence Bank is primarily for defence members but is also available for "civilians". Most branches are on defence establishments, but the staff are always more than happy to help you.

Full review

Defence Bank is primarily for defence members but is also available for "civilians". Most branches are on defence establishments, but the staff are always more than happy to help you.

    Price   6 / 10

    Features   4 / 10

    Customer service   9 / 10

    Convenience   3 / 10

    Trust   10 / 10

Less

Nathan (VIC), reviewed about 3 years ago

Defence Bank

Defence Bank savings account review

Overall rating   6 / 10

Disappointing fees

Tend to not be as competitive in many areas, one of the few banks that charge a fee for entering an incorrect pin number (ATM $0.50, EFTPOS $1.50). Although in fees schedule and meeting required disclosure, many people don't know its there, just...

Full review

Tend to not be as competitive in many areas, one of the few banks that charge a fee for entering an incorrect pin number (ATM $0.50, EFTPOS $1.50). Although in fees schedule and meeting required disclosure, many people don't know its there, just appears as a decline fee on the statement.

    Price   6 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   5 / 10

Less

Col (SA), reviewed over 3 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   8 / 10

Competitive, supportive and convenient

I have been very satisfied with my banking at Defence Bank and have found them to be competitive, helpful and convenient. They understand Defence and work with their members to reach a common goal.

Full review

I have been very satisfied with my banking at Defence Bank and have found them to be competitive, helpful and convenient. They understand Defence and work with their members to reach a common goal.

    Price   9 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Ellen (NSW), reviewed about 4 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   2 / 10

Uncompetitive with poor interest rates

The interest rates on the savings account is very low compared to other banks. The Internet banking site is complex and difficult to use. The customer service is not the best and simple activities may take longer to process than at other...

Full review

The interest rates on the savings account is very low compared to other banks. The Internet banking site is complex and difficult to use. The customer service is not the best and simple activities may take longer to process than at other banks. Good for defence members as it is situated on base and has some useful products just for defence members such as barracks insurance.

    Price   4 / 10

    Features   4 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   10 / 10

Less

Rachael (NSW), reviewed about 4 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

Excellent customer service and great intiatives

Defence Bank at RAAF Base Pearce has staff who are very conciuous of providing the best service possible to their customers. They even have the intitiative to offer improvements to existing bank accounts as well as offering best options for...

Full review

Defence Bank at RAAF Base Pearce has staff who are very conciuous of providing the best service possible to their customers. They even have the intitiative to offer improvements to existing bank accounts as well as offering best options for overseas travel. Their demeanour is friendly and very courteous. Additionally their help line in Melbourne is just as courteous when having to use that service too.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Paul (WA), reviewed about 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   4 / 10

Competitive

I am moving away from this bank because it changed from a credit union to its now bank status, it also has no branches in Tasmania.

Full review

I am moving away from this bank because it changed from a credit union to its now bank status, it also has no branches in Tasmania.

    Price   5 / 10

    Features   6 / 10

    Customer service   1 / 10

    Convenience   1 / 10

    Trust   5 / 10

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Mozo reviewer (TAS), reviewed over 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   4 / 10

Great customer service and accessability,high fees

There are a lot of fees involved with a bank account with this bank, some of which seem unnecessary, and relatively uncompetitive. However the customer service has always been friendly and helpful. Accessing the bank either through branches or...

Full review

There are a lot of fees involved with a bank account with this bank, some of which seem unnecessary, and relatively uncompetitive. However the customer service has always been friendly and helpful. Accessing the bank either through branches or online has also always been easy and straight forward.

    Price   2 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   5 / 10

Less

Mozo reviewer (QLD), reviewed over 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   2 / 10

Fees are astronomical; beyond a joke.

Does not look after their customers. Computer says, 'NO'; Enough said. Just like the 'Big 4'.

Full review

Does not look after their customers. Computer says, 'NO'; Enough said. Just like the 'Big 4'.

    Price   2 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   3 / 10

    Trust   2 / 10

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Mozo reviewer (VIC), reviewed over 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   5 / 10

Easy to use online

Branches are on Defence bases not all ways easy to access due to security.

Full review

Branches are on Defence bases not all ways easy to access due to security.

    Price   5 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Mozo reviewer (NSW), reviewed over 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   8 / 10

Defence Bank a secure bank used by Armed Forces.

A: All account types are available W: Welcomes you E: Easy over the phone help S: Simple step by step internet O: Overall banking needs looked at M: Mortgages, personnel loans and all insurance needs provided E: Easy to set up direct...

Full review

A: All account types are available W: Welcomes you E: Easy over the phone help S: Simple step by step internet O: Overall banking needs looked at M: Mortgages, personnel loans and all insurance needs provided E: Easy to set up direct debits with no fees and statements showing all transactions in an easy format

    Price   -1 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Rosalie (VIC), reviewed over 4 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   10 / 10

The best bank on the market

Every transaction I have had with this bank has been very satisfactory. They are on the ball at all times. Very quick to note if something does not seem correct. After selling my house they invested my money extremely well. Online banking is...

Full review

Every transaction I have had with this bank has been very satisfactory. They are on the ball at all times. Very quick to note if something does not seem correct. After selling my house they invested my money extremely well. Online banking is straight forward and very easy to follow especially for me as I am not computer savvy. Never had a problem with this bank in over 20 years. Their staff are always friendly, which makes banking a pleasure.

    Price   10 / 10

    Features   -1 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Lynette (ACT), reviewed over 4 years ago

Defence Bank

Defence Bank savings account review

Overall rating   0 / 10

Treats customers like fools!

I have been with the Australian Defence Force for 7 years. I joined Defence Bank (Formerly DefCredit) when I joined. This bank charges fees for anything you do!! Eftpos transactions, ATM withdrawals etc... I recently enquired about a home...

Full review

I have been with the Australian Defence Force for 7 years. I joined Defence Bank (Formerly DefCredit) when I joined. This bank charges fees for anything you do!! Eftpos transactions, ATM withdrawals etc... I recently enquired about a home loan and was after some further information about a package. Whoever I spoke to had no idea what she was doing and could not give me any further information other than what was on the website. When I asked to speak to someone else she told me that she handled all home loan applications.....what a joke!! Do not join this bank, you will regret it!

    Price   2 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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Adam (VIC), reviewed almost 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   2 / 10

Defence Bank by name, turn coates by nature.

When i joined the army,i was introduced to Defence Bank. I banked proudly with them during and after my service. However, it didn't take me long to realise that Defence Bank only supported current serving members for my loyalty was not returned...

Full review

When i joined the army,i was introduced to Defence Bank. I banked proudly with them during and after my service. However, it didn't take me long to realise that Defence Bank only supported current serving members for my loyalty was not returned after i discharged. I hit hard times but i met my financial obligations however Defence Bank turned their back on me and i nearly lost my new family car. If not for St George and Westpac, I would have been over run,so to speak. Thank you St George and Westpac for defending me when i needed it the most.

    Price   8 / 10

    Features   8 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   3 / 10

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Paul (VIC), reviewed over 5 years ago

Defence Bank

Defence Bank iSaver savings account review

Overall rating   4 / 10

High fees and poor customer service

No overly impressed with this bank/credit union. I have been with them for 15 years now and all they seem to do is raise there fees and charges. It is definitely a sure fire way to drive all you customers away. Why would we stay with a credit...

Full review

No overly impressed with this bank/credit union. I have been with them for 15 years now and all they seem to do is raise there fees and charges. It is definitely a sure fire way to drive all you customers away. Why would we stay with a credit union that raises its fee when we can go to a bank that lowers there fee and has awesome customer service that goes with it. I will be closing my account with this credit union within the next 6 months.

    Price   4 / 10

    Features   3 / 10

    Customer service   4 / 10

    Convenience   2 / 10

    Trust   3 / 10

Less

Natalie (NT), reviewed over 5 years ago

Defence Bank

Defence Bank savings account review

Overall rating   8 / 10

The staff are always friendly and know me by name if I go into the branch or ring on the phone. It is a very strong institution that has links to free financial planning, cheap insurance rates, and competitive loans. Their website is easy to...

Full review

The staff are always friendly and know me by name if I go into the branch or ring on the phone. It is a very strong institution that has links to free financial planning, cheap insurance rates, and competitive loans. Their website is easy to navigate and contains many useful tools such as budget planning, downloadable statements in PDF and formats for in-home finance software like "Quicken," and a simple interface for creating regular payments from your accounts. The fees are quite low too I believe. You need to be a member (or spouse) of Defence to join and all of the branches are inside barracks, so it is a little exclusive in that way unfortunately.

    Price   7 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Cameron (VIC), reviewed about 6 years ago

Defence Bank

Defence Bank savings account review

Overall rating   2 / 10

As a defence family I really loved that we had a bank that we thought was looking after us. Sadly though in the last 12 months DEFCREDIT has introduced many new fees including a monthly fee just to have a debit card linked to my account. I'm now...

Full review

As a defence family I really loved that we had a bank that we thought was looking after us. Sadly though in the last 12 months DEFCREDIT has introduced many new fees including a monthly fee just to have a debit card linked to my account. I'm now in the process of moving my accounts to another fee free bank.

    Price   2 / 10

    Features   2 / 10

    Customer service   6 / 10

    Convenience   5 / 10

    Trust   4 / 10

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Sharon (SA), reviewed over 6 years ago

Defence Bank

Defence Bank savings account review

Overall rating   10 / 10

They are very helpful. ATM access is great as they have NAB backup. Transferring money online and telephone banking is easy and very secure. Email notification is constant.

Full review

They are very helpful. ATM access is great as they have NAB backup. Transferring money online and telephone banking is easy and very secure. Email notification is constant.

    Price   6 / 10

    Features   0 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ruth kuss (QLD), reviewed over 6 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Savings account comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2016

    AMP Saver Account

    AMP Saver Account

    • Competitive interest rates, calculated daily and paid monthly
    • A bonus interest rate of 0.45% per annum for the first four months
    • No Monthly fees

    special rate*

    2.55% p.a. (for $0 to $5,000,000)

    bonus rate for 4 months

    standard interest rate

    2.10% p.a.(for $0 to $5,000,000)

    account fee per month

    $0.00

    Go to site

    More info

    • Competitive interest rates, calculated daily and paid monthly
    • A bonus interest rate of 0.45% per annum for the first four months
    • No Monthly fees
    • Special rate conditions: Bonus rate for the first 4 months from account opening
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account.
    Overall rating

    7.1

    Based on 24 AMP savings account reviews

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  • ANZ Online Saver

    ANZ Online Saver

    • Flexible high interest savings account plus exclusive online bonus interest offer for 3 months. Limited time only
    • Interest calculated daily and paid monthly
    • No minimum balance, no withdrawal fees and no fixed term requirements

    special rate*

    2.55% p.a. (for $0 and over)

    Bonus rate for the first 3 months from account opening. The bonus rate offer is only available to new ANZ Online Saver customers who have not held an ANZ Online Saver account during the last 6 months, and apply online.

    standard interest rate

    0.50% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • Flexible high interest savings account plus exclusive online bonus interest offer for 3 months. Limited time only
    • Interest calculated daily and paid monthly
    • No minimum balance, no withdrawal fees and no fixed term requirements
    • Special rate conditions: Bonus rate for the first 3 months from account opening. The bonus rate offer is only available to new ANZ Online Saver customers who have not held an ANZ Online Saver account during the last 6 months, and apply online. Offer not available to beneficiaries for an ANZ Online Saver account held on trust within the past 6 months
    • Access: BPay, Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must be linked to ANZ deposit account.
    Overall rating

    7.7

    Based on 2117 ANZ savings account reviews

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  • ME Online Savings Account

    ME Online Savings Account

    • Savings Bank of the Year 2016
    • No minimum monthly deposit. Ongoing variable bonus rate
    • No monthly account-keeping fees

    special rate*

    2.95% p.a. (for $0 to $250,000)

    Ongoing bonus rate if during the month you make a weekly Tap & Go purchase with your ME Everyday Transaction Account buck Debit MasterCard.

    standard interest rate

    1.30% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • Savings Bank of the Year 2016
    • No minimum monthly deposit. Ongoing variable bonus rate
    • No monthly account-keeping fees
    • Special rate conditions: Ongoing bonus rate if during the month you make a weekly Tap & Go purchase with your ME Everyday Transaction Account buck Debit MasterCard.
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account
    Overall rating

    8.1

    Based on 119 ME savings account reviews

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  • St.George Maxi Saver

    St.George Maxi Saver

    • 24/7 access online savings account
    • No monthly service fees
    • No minimum monthly balance or deposit required

    special rate*

    2.70% p.a. (for $0 and over)

    bonus rate for first 3 months

    standard interest rate

    0.80% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • 24/7 access online savings account
    • No monthly service fees
    • No minimum monthly balance or deposit required
    • Special rate conditions: Bonus rate for the first 3 months from account opening
    • Access: Branch access, Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account with this provider
    Overall rating

    7.9

    Based on 724 St.George savings account reviews

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    Go to site

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  • Westpac eSaver

    Westpac eSaver

    • Unlimited access to your money
    • Earn interest on every dollar
    • No monthly account service fee

    special rate*

    2.51% p.a. (for $0 and over)

    Bonus rate for the first 5 months from account opening

    standard interest rate

    0.80% p.a.(for $0 and over)

    account fee per month

    $0.00

    Go to site

    More info

    • Unlimited access to your money
    • Earn interest on every dollar
    • No monthly account service fee
    • Special rate conditions: Bonus rate for the first 5 months from account opening
    • Access: Phone banking, Internet banking
    • Minimum balance: $0.00
    • Other restrictions: Must link to a transaction account with this provider. $5 fee applies for all transactions except phone and internet banking
    Overall rating

    7.9

    Based on 1602 Westpac savings account reviews

    Need more information?
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