Online Saver Account

Suitable for retail clients who:

  • need a transactional banking account to conveniently manage their funds and facilitate payments
  • 24/7 availability. Access via Internet banking, our mobile banking app or telephone banking.

Earn 0.10% p.a.

Product Features:

Savings Accounts Features
Annual Fee : $0
Monthly Fee : $0
Funds Available : At Call
Auto Sweep Facility : Yes
Overdraft : No
Personal Cheque Facility : No
Branch Access : No
ATM/EFTPOS Access : No
BPAY : Yes
Direct Entry (Credit/Debit) : Credit Only
Interest Calculation : Calculated daily, paid monthly
  • Interest payable
  • Easy and convenient access by internet banking, our mobile banking app and telephone banking
  • Cleared funds are available 24 hours a day 7 days a week
  • Regular payments can be set up via internet or our mobile banking app
  • Access by internet, our mobile banking app or telephone only
  • At account opening you must also have a Geelong Bank at call transaction account
  • A sweep authority must be signed to authorize funds from the On-Line Saver account to be automatically swept across to the Geelong Bank at call transaction account if this account becomes overdrawn
  • Deposits: Funds must be transferred into the On-Line Saver Account. No over the counter transactions (a one off deposit/transfer of funds can be conducted by staff at account opening)
  • Withdrawals: Funds must be accessed via transfer – internet, mobile and phone banking only
  • Transfers: Funds must be accessed via transfer – internet, mobile and phone banking only
  • BPAY: Is available by internet, our mobile banking app and telephone banking.

FAQs

Read our most frequently asked questions below or view all our FAQs.

Geelong Bank is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account.

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

 

Documents & Forms

Target Market Determination

Online Saver Account

CALL US

Speak to a consultant today.

APPLY ONLINE

Open a Savings or Transaction Account.

Help me to save

I'd like to know more about