ME Online Savings Account

1.30% p.a.(for $0 and over)

2.85% p.a. (for $0 to $250,000)

 
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ME Online Savings Account Review

Rates and fees information correct as at 24 January 2019.

Review published: 10 May 2013

What's hot:

  • Winner of Mozo Experts Choice Awards 2018

  • No account or transaction fees

  • Special 2.85% 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 2.85% interest rate but you'll pay $0 account keeping and transaction fees. It's no wonder, ME online savings account was named as a winner of Mozo Experts Choice Award for a Regular Saver.

Just keep in mind, to receive that 2.85% rate you'll need to link your Online Savings Account to ME's EveryDay Transaction Account, and make a weekly "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 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.

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 2.85% interest rate. 

How are ME savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
8.2

Based on 381
ME savings accounts reviews

8.2 7.3 8.3 7.4 8.5

Read ME savings account reviews by the Mozo community

Latest reviews of ME Online Savings Account

ME

ME Online Savings Account savings account review

Overall rating   8 / 10

Great customer service but frustrating phone app

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...

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.

    Price   7 / 10

Less

Tom, New South Wales, reviewed about 1 year ago

ME

ME Online Savings Account savings account review

Overall rating   10 / 10

Excellent banking experience, fast data update

excellent no fee banking , online way of the future.

Full review

excellent no fee banking , online way of the future.

    Price   10 / 10

Less

Tony, New South Wales, reviewed over 1 year ago

ME

ME Online Savings Account savings account review

Overall rating   5 / 10

Competitive rate, hopeless account keeping

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...

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.

    Price   8 / 10

Less

Florence, Tasmania, reviewed over 1 year ago

ME

ME Online Savings Account savings account review

Overall rating   10 / 10

Great service and rates

Great service and rates.

Full review

Great service and rates.

    Price   10 / 10

Less

Bernie, Australian Capital Territory, reviewed almost 2 years ago

ME

ME Online Savings Account savings account review

Overall rating   2 / 10

Dissatisfied

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.

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.

    Price   2 / 10

Less

Ian, Victoria, reviewed almost 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 1.30% p.a.

  • Balances from $0: 2.85% p.a.
    Balances from $250,000: 1.30% p.a.

  • Ongoing bonus rate if during the month you make a weekly Tap & Go purchase with your ME Everyday Transaction Account buck Debit Mastercard.

Fees

  • $0.00

  • none

  • unlimited free transactions from internet, phone.

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

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

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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