Military Rewards Account
The perfect everyday spending companion, the Military Rewards Account features 1% cash back (with a $25 monthly cap) on Visa payWave purchases under $100 and our cents gifting program.
1% cash back on
Visa payWave purchases ($25 cap per month)
$0
transaction fees (within Australia)
Support for the
Defence community
Overview
The Military Rewards Account is designed to reward you and the Defence community as you spend. It features:
- 1% cash back on Visa payWave purchases under $100 when you deposit at least $2,000 each month^ (capped at $25 per month)
- Cents gifting program to your choice of Defence charity
- No annual fee on the Visa Debit Card
- No monthly service fee
- Add your Visa card to your preferred digital wallet from Apple Pay, Google Pay, Samsung Pay, and Garmin Pay^^
- Access to fast and simple payments with PayID
- Visa Debit Card access including your choice of card design
Rates & Fees
Here’s a summary of the rates and fees for the Military Rewards Account:
Interest Rates:
- Interest rate: 0.01% p.a.
- Interest is calculated daily and paid monthly
Additional fees may be payable. For more information please see our Fees and Charges Schedule.
Download our Fees and Charges Schedule
Questions
Here are the top 6 questions we get asked about our Military Rewards Account. Can’t see your question? Read the full set of FAQs here.
When does the cash back amount appear in my account?
Cash back on Visa payWave transactions will be credited on a monthly basis and are paid in arrears. This means, you'll receive cash back at the beginning of the month (eg February) for any eligible transactions incurred during the previous calendar month (eg January).
What kinds of transactions are eligible for the 1% cash back*?
You will receive 1% cash back* on all Visa payWave purchases under $100 (such as groceries, petrol, clothing, entertainment and transport) when you deposit $2,000* or more per month from an external source, into your Military Rewards Account.
How does the cents gifting program work?
Each month, Australian Military Bank will transfer your ‘spare change’ (i.e. the cents on your account balance up to 0.99c) to a Defence related charity selected by you. Australian Military Bank will then match, dollar-for-dollar, the money donated each month and contribute this directly to the specified charities.
What charities can a member choose from?
You can choose to donate their ‘spare change’ to one of the following organisations:
- Mates for Mates
- Legacy
- Soldier On
- RSL LifeCare
Alternatively, you can donate your ‘spare change’ equally across all four worthy organisations
*(effective 1 May 2017)
