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:
- If you have an everyday account with us you have access to free Australian Military Bank ATMs
- 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
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.
