I’m reviewing the Commonwealth Bank and its Youthsaver accounts. My kids originally opened these accounts when they started school and would bank a couple of dollars every week. After seven or so years the local branch closed (rural location) and school banking was a thing of the past. Their accounts sat dormant for a few years accruing virtually zero interest until the kids got part time jobs and their wages were deposited into their Youthsaver. The variable interest rate on balances under 50k is 2.15% with a bonus interest rate of 2.40% if the balance at the end of the month is higher than at the start and at least one deposit is made with no withdrawals. As their balances grow, so too the BONUS interest - a huge incentive to keep kids saving. As our local branch has closed, withdrawing cash if difficult, but that is a whinge for another day!
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Overall a good bank, would happily recommend. Pros: - Easily open multiple accounts. - Reasonable interest rates. - Excellent security and multi-factor authentication. - Access to discounted gift cards. - No extra hoops to jump through to access higher interest rates on savings accounts. Cons: - App could be better, no option to have 'buckets' within the one account, have to open a new account each time. - Budget/spendings tracker is not super helpful, especially if you are someone who moves money around a lot. - Have to use Bank at Post to deposit/withdraw cash, or have an account with another bank.
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I like this bank because they are very helpful. They help me manage my money. The pros are that they are friendly, heloful and reliable. Tje cons are, hard work, logs you out
More BankSA savings account customer reviewsHate all the hidden fees when direct debits bounce. I get slammed with fees constantly.
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Because there are no branches of Bank Australia in South Australia and I opted not to have an ATM Visa debit card, I do all my banking here online. I use Bank Australia solely to save for things that are necessary and essential--things such as vet costs, specialist visits, medical necessities, to replace/repair items that break down (like my washing machine!). Bank Australia's website is very user friendly and easy to navigate which is a great help when one is tired, stressed or having to manage banking with a migraine. Their online assistance is excellent, responses are swift and timely, answeriing queries in a straightforward manner. I also like that Bank Australia has an enormous committment to conservation of the Australian flora and fauna and works with local groups to do more in those areas. That was one of the main reasons I chose Bank Australia as my savings bank. Additionally, each member of the bank is a shareholder as well and can vote in such things as elections, mergers with other banks and so on. Interest rates are good, support is excellent and Bank Australia offers a wide variety of competitive services that matches any of the big four banks.
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Newcastle Permanent is an active part of the community
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There's nothing special about it, but they have gotten back to me quickly and so far are trustworthy.
More Westpac savings account customer reviewsI am loyal customer of the Commonwealth Bank 35 years. In this time my bank has been extremely helpful in many different stages of my life some good and some bad in terms of customer service, access to AYM's, account fees and the app & it's usage. There are other ways in which the Commonwealth Bank helps it's customers with extras that people may be unaware of which I'd like to mention. I found myself and my children under threat from domestic violence. The Commonwealth Bank helped me and my children to escape the violence by providing me with an $800 payment for accommodation and travel expenses. To access this payment you get to speak to a social worker through the bank. I found this very helpful indeed. My children and I could afford temporary safe accommodation away from the violence. We did become homeless for a period of time but the bank were very accommodating and helpful. They were able to refund all my account fess from both themselves and also non CBA ATM fees. This gave me a bit of extra cash in my pocket to keep my family warm and feed. Thankyou Comm Bank
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They look after your every need ,sort out any problems. Have special accounts called concession accounts so if your on a low income or not working u don't get charged any fee's .I've been with st george since my daughter was 4 she is now 21 and also bank there .My daughter has a savings account and the interest she gets on that per month also is Amazing .If you ,friends or family are looking for a new bank I cannot recommend St George highly enough. Staff are also extremely pleasant.
More St.George savings account customer reviewsThere’s been times where myself or someone in my family has been hacked with our accounts but the staff do actually get on it straight away with unusual spending and large amounts! Very grateful to them. And I’ve recommend comm bank to several close friend of mine which have ended up happily changing, and don’t regret it at all which is good to hear
More Commonwealth Bank savings account customer reviewsTheyve been around forever, and have had an account with them for nearly 40 years. unfortunately their ability to keep up with the other big banks as far as interest rates on savings accounts is a significant downfall. I would recommend comparing banks before settling here. on the other side Customer service in branch is great, cant fault them. happy to stay with them but considering not having all my eggs in one basket.
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Fantastic savings account with minimum requirements. No fuss. Good interest paid monthly.
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I Love this bank a family member got me onto them because of there amazing interest rates I haven't seen a bank yet that has better interest rates I highly recommend
More Great Southern Bank savings account customer reviewsIT IS THE BEST BANK EVER
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Bonus rate for the first 4 months from account opening
Bonus rate for the first 4 months from account opening
Minimum $500 deposited into linked transaction account, and 5 Visa Card transactions from that account
Make 5 eligible card purchases per month with a linked Westpac Choice account, make one eligible deposit and grow the balance each month. Account balance must not fall below $0.
New customers who open an account after June 9 2025 receive an introductory bonus 0.75% p.a. variable kick starter rate for the first 4 months on balances up to $500,000.
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