ME Bank makes saving easier with 3 simple changes!

Tara McCabe

01 Oct 2019

Three dogs content

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. Advertiser disclosure.

  • Promoted

    MyState Bank

    MyState Bank

    Bonus Saver Account

    1.10% p.a. (for $0 to $250,000)

    0.05% p.a.(for $0 and over)

    Yes up to $250,000

    *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

    Virgin Money

    Virgin Money

    Boost Saver with Go Account

    1.50% p.a. (for $0 to $250,000)

    0.10% p.a.(for $0 and over)

    Yes up to $250,000

    *Intro bonus rate of 1.50% for first 3 months, reverting to 1.20% after. Bonus interest only applies when you deposit $2,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month. If you are between 18 and 25 you need to deposit $1,000 and fulfil the other criteria.

  • Promoted

    Rabobank

    Rabobank

    High Interest Savings Account

    1.35% p.a. (for $0 to $250,001)

    0.25% p.a.(for $0 to $250,001)

    Yes up to $250,000

    *Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.

^See information about the Mozo Experts Choice Savings accounts Awards