The ME Bank Online Savings Account really is a great value product. The standard interest rate is 1.30%, which has no conditions attached, so you can simply deposit your money into the account and set and forget. But why would you do that when there is a competitive 2.85% interest rate up for grabs?
All you need to do to nab that rate is open ME's Everyday Transaction Account and link it to your Online Savings Account. When you open the transaction account you'll receive a Buck debit card and as long as you make just one tap and go purchase each week the 2.85% interest rate will be applied to your Online Savings Account.
Other features of the savings account include, fee free transactions online and over the phone. And just like most savings accounts, no ATM access is included in the Online Savings Account. But that's what you have the Everyday Transaction Account for, right?
Who it's good for:
The ME Bank Online Savings Account is great for anyone looking for a high interest savings account to grow their money.
Keep in mind, if you're jetsetting overseas and don't make a weekly "tap and go" purchase with the Buck debit card within Australia for that month you won't receive the high 2.85% interest rate.