ME Bank makes saving easier with 3 simple changes!
Calling all keen savers! If you love keeping a padlock on your pennies, and watching your savings stash grow, then you’ll be pleased to hear that ME bank just made saving even more effortless.
If you currently make use of ME bank’s Everyday Transaction Account and Online Savings Account bundle, then as of today you’ll no longer have to tap and go your everyday account debit Mastercard once a week to achieve the maximum interest rate of 2.35% p.a. on your savings account.
Instead, you’ll only have to tap and go four times a month to boost your savings and earn that bonus interest rate of 1.55% p.a. (base rate 0.80% p.a.). So if you’re not a big spender or you make most of your purchases online, then you no longer have to worry about remembering to buy something with your ‘buck’ card every week.
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But not only have ME bank made achieving the bonus interest rate on your savings just that little bit easier, as of today the online bank won’t just pay bonus interest on your first savings account, but all of your savings accounts!
So if you have multiple Online Savings Accounts with ME, with balances under $250,000 and you remember to make four purchases with your Everyday Transaction Account throughout the month, then you could be earning the maximum 2.35% p.a. interest rate on all of them.
“We’re adapting to our customers, and servicing their changing behaviours and needs with these product changes,” said ME’s General Manager of Personal Banking, Claudio Mazzarella.
The online bank didn’t stop there either, introducing new different coloured debit cards for each Everyday Transaction Account. So if you’re someone who loves colour coding your calendar or diary then you can now also colour code your bank accounts.
With this new colour coding system, ME hope to help customers who partake in what Mazzarella described as ‘bucket budgeting’; if you store your money in separate everyday accounts or even separate saving accounts to keep track of how you spend and on what, then you’re already doing bucket budgeting.
RELATED ARTICLE: 6 places to store your savings with declining rates
If these changes have caught your interest, you might also like to hear that ME bank’s bonus savings account currently ranks in the top 7 bonus interest rate savings accounts in the Mozo database. Plus with more RBA cuts on the horizon and the game of saving becoming more and more tricky, ME’s Everyday Transaction Account and Online Savings Account bundle might just be worth checking out if you haven’t already.
Now, if all this talk of savings has got you thinking about where you keep your hard earned dollars, why not check out Mozo’s savings accounts’ comparison page. Or take a look at the deals below to see if you could be earning a better interest rate.
Compare bonus saver accounts
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Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first 4 months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
CompareCompareSavings Account
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.
- Maximum rate
- 5.35% p.a. (for $0 to $250,000)
- Standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- Standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Account fee per month
- $0.00
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must have a Macquarie Transaction Account to link with.
Read our Mozo Review to learn more about the Macquarie Savings Account
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Mozo experts choice awards won:
- High Interest Savings - 2024
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
CompareCompareSavings Maximiser
Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
- Maximum rate
- 5.50% p.a. (for $0 to $100,000)
- Standard interest rate
- 0.55% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- Standard interest rate
- 0.55% p.a.(for $0 and over)
- Account fee per month
- $0.00
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must be linked to an Orange Everyday transaction account to receive the bonus rate. Where multiple Savings Maximiser Accounts are held, the bonus rate is only applied to one nominated account.
Read our Mozo Review to learn more about the ING Savings Maximiser
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Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
- Maximum rate
- 5.25% p.a. (for $0 to $1,000,000)
- Standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- Standard interest rate
- 0% p.a.(for $0 and over)
- Account fee per month
- $0.00
- Access
- ATM, EFTPOS, Visa Debit, Cheque book, BPay, Branch access, Phone banking, Internet banking, Bank@Post
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
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^See information about the Mozo Experts Choice Savings Account Awards
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