ME Bank makes saving easier with 3 simple changes!

Tara McCabe

01 Oct 2019

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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. 

RELATED ARTICLE: Savers ditch big banks as rates plunge

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 - rates updated daily

  • Promoted

    UBank

    UBank

    USaver with Ultra Transaction Account

    2.10% p.a. (for $0 to $200,000)

    1.04% p.a.(for $0 to $5,000,000)

    $0.00

    *Bonus interest only applies on funds held in linked USaver account if $200 deposited into either account in the previous month from an external source and the combined balance is less than $200,000.

  • Promoted

    MyState Bank

    MyState Bank

    Bonus Saver Account

    2.50% p.a. (for $0 to $150,000)

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

    $0.00

    *Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

  • Promoted

    HSBC

    HSBC

    Serious Saver

    2.60% p.a. (for $0 to $1,000,000)

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

    $0.00

    *No withdrawals in the month. Bonus rate for first 4 months, reverting to 0.70% bonus rate after*

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