ME Online Savings Account
ME Online Savings Account
Mozo Review ME Online Savings Account Review
Last updated: 13 September 2019.
What's hot:
Mozo Experts Choice Award winner 2019
No account or transaction fees
Special 2.35% interest rate (conditions apply)
What's not:
No BPay or Australia Post banking facilities
Mozo snapshot:
Want a savings account with one of the highest interest rates in the market that's free of the bite of fees? Well, the ME Online Savings Account could be for you!
Not only will you receive a generous 2.35% interest rate but you'll pay $0 account keeping and transaction fees. It's no wonder the ME Online Savings Account was named as a winner of a 2019 Mozo Experts Choice Award in the Regular Saver category.
Just keep in mind, to receive that 2.35% rate you'll need to link your Online Savings Account to ME's EveryDay Transaction Account, and make four monthly "tap and go" purchase using its Buck debit card.
Key features:
The ME Bank Online Savings Account really is a great value product. The standard interest rate is 0.80%, 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 2.35% 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 four tap and go purchase each month, the 2.35% 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 competitive bonus rate on their savings account to grow their money.
Any catches?
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 2.35% interest rate.
Details
Rates and fees information correct as at 16 September 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
Balances from $0: 0.80% p.a.
-
Balances from $0: 2.35% p.a.
Balances from $250,000: 0.80% p.a. -
Ongoing bonus rate if you make at least four tap & go™ payments per month with your Everyday Transaction Account debit card. Purchases must be processed in calendar month to be eligible for bonus interest.
Fees
-
$0.00
-
n/a
-
unlimited free transactions from internet, phone.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
$0.00
-
$0.00
-
n/a
Other financial bits
-
$0.00
-
$0.00
-
Monthly
Features
-
no
-
none
-
no
-
no
-
no
-
no
-
no
-
yes
-
yes
-
no
-
no
-
Must link to a transaction account
-
none
-
none
Customer Reviews
How are ME savings accounts rated by the Mozo community?
Latest reviews of ME Online Savings Account
- Overall8/10
Great customer service but frustrating phone app
I transferred to ME because of their excellent savings account interest rate, and found during...
Read full review
I transferred to ME because of their excellent savings account interest rate, and found during the application process that their staff were just as impressive. Unfortunately I found their phone app to be clunky and limited compared to other banks which was frustrating as I prefer to use my phone for all my banking, and that combined with the drop in savings interest rate forced me to look elsewhere. In saying that I couldn't recommend their staff more highly, and overall they were one of the best banks I've been with.
Price7/10Features-Customer service-Convenience-Trust-Less
Tom | New South Wales
reviewed almost 2 years ago
- Overall10/10
Excellent banking experience, fast data update
excellent no fee banking , online way of the future.
Read full review
excellent no fee banking , online way of the future.
Price10/10Features-Customer service-Convenience-Trust-Less
Tony | New South Wales
reviewed about 2 years ago
- Overall5/10
Competitive rate, hopeless account keeping
This bank makes lots of mistakes in the interest payments and has confusing account keeping. I...
Read full review
This bank makes lots of mistakes in the interest payments and has confusing account keeping. I have had to ring several times due to wrong interest being credited, or tax withheld and paid to taxation office even though I was exempt. Interest rate is competitive which is the only reason I am still with them.
Price8/10Features-Customer service-Convenience-Trust-Less
Florence | Tasmania
reviewed about 2 years ago
- Overall10/10
Great service and rates
Great service and rates.
Read full review
Great service and rates.
Price10/10Features-Customer service-Convenience-Trust-Less
Bernie | Australian Capital Territory
reviewed over 2 years ago
- Overall2/10
Dissatisfied
We have insisted on printed statements and always have to chase the bank to provide them. Often...
Read full review
We have insisted on printed statements and always have to chase the bank to provide them. Often they are promised the next week and just never arrive.
Price2/10Features-Customer service-Convenience-Trust-Less
Ian | Victoria
reviewed over 2 years ago
About ME
ME stands for a new kind of banking - one that's fairer, more transparent and is committed to great deals for its customers. ME was created by Australia's leading super funds and has award-winning home loans and term deposits, low-cost savings accounts, country-wide ATM access and banking experts that come to you at your convenience.
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