Recruit Salary Saver Account
We know that starting out financially can be a challenge. That’s why we’ve introduced our Recruit Salary Saver Account exclusively for new Defence Force Recruits. It’s a simple everyday transaction account that has a high interest rate to give new Recruits a financial head start in their careers.
Designed specifically
for ADF Recruits
Tap and Pay
with Digital Wallets
Free
ATM withdrawals*
Overview
The Recruit Salary Saver Account is available to new Australian Defence Force Recruits within 4 months of their march-in date. It features:
- Free Australian Military Bank ATM withdrawals*
- No annual fee on the Visa Debit Card
- No monthly service fee when you deposit at least $1500 each month^
- A high interest rate
- Add your Visa card to your preferred digital wallet from Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay^^
- Access to fast and simple payments with PayID
- No minimum balance to get started
- Visa Debit Card access including your choice of card design
- 24 hour access via internet banking and mobile banking
- Direct debit and credit facility
Rates & Fees
Here’s a summary of the rates and fees for the Recruit Salary Saver Account:
Interest Rates:
- Interest rate: 1.05% p.a.
- Interest calculated daily and paid monthly
Monthly Fees:
- Monthly service fee: $4 where the minimum deposit is not met^
Everyday Banking Fees:
- BPAY® transactions: Free
- Internet banking transactions: Free
- Mobile banking transactions: Free
- Australian Military Bank ATM transactions: Free*
- EFTPOS transactions: Free
Additional fees may be payable. For more information please see our Schedule of Fees and Charges.
Download our Schedule of Fees and Charges
Questions
Here are the top 5 questions we get asked about our Recruit Salary Saver Account. Can’t see your question? Call 1300 13 23 28.
For how long after I march in am I eligible to open a Recruit Salary Saver?
You can open a Recruit Salary Saver Account within 4 months of marching in as a new recruit.
How can I have my monthly service fee waived?
When you deposit a minimum of $1,500 per calendar month (for example your salary) to your Recruit Salary Saver Account, you’ll have the $4.00 monthly service fee on your account waived.
Can I earn interest on my balance?
Yes, you can earn a great interest rate on your account balance, which is calculated daily and paid into your account monthly.
Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required to open the account and keep it active.
Can I use tap and go on my Visa debit card?
Yes, your Visa debit card comes enabled with Visa payWave that enables you to perform tap and go transactions under $200.
