Join Co-Op for $25 and Receive $25 Back on Sign up and 5% Cashback on Paypass Purchases for 3 Months at ME Bank

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Jaystea on 11/11/2015 - 11:24 mebank.com.au (322 clicks)
Last edited 11/11/2015 - 11:27 by 1 other user

I got this via e-mail from the Co-op bookstore which I'm a member at (I had joined earlier this year to buy a few textbooks priced at $5.01 membership price, when the RRP was ~$500, crazy, I know) and signed up a week ago. The process was smooth and the $25 was banked into my account as soon as it was opened, so I guess it's not as finicky as previous MEbank deals.

5% cashback on paywave for the first 3 months always a good bonus, especially with the christmas holidays coming up. Terms and conditions can be found in the link provided. Here is some preliminary information:

To complete your application and have your $25 Co-op membership fee paid back by ME Bank you'll need your application reference number. If you've recently joined the Co-op, you'll have received an application reference number via SMS (from ME Bank) and an email (from The Co-op), to the same email address you used when you joined the Co-op.

I've lost the email/SMS and can't find my application reference number
You can call us on 13 15 63 to obtain your application reference number.

Why open an ME Bank EveryDay Transaction Account?
When you join the Co-op, you’ll have the opportunity to open an ME Bank EveryDay Transaction Account with a Debit MasterCard® and receive:
Your $25 Co-op Membership fee paid back by ME Bank
5% cash back on PayPass Tap & Go™ purchases for the first 3 months

Related Stores

ME Bank

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  Certified Angus on 11/11/2015 - 11:33

  This is kind of hard to follow, even after going to the ME website. It looks like you have to do both, join the Co-op and open a ME account

  "Co-op Members who open an ME Bank EveryDay Transaction Account (ETA) with a cobranded Debit MasterCard® as a single account holder will receive:"

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    Jaystea on 11/11/2015 - 11:37

    +1

    If you're already a Co-op member, you're good to go. However if you're not, you have to sign up to BE a member first, which costs $25 (essentially meaning all you gain is 5% back on paypass purchases). However, the perk is that the $25 for a Co-op membership is refundable at the termination of your membership.

    So sign up, get your $25 back via this deal, use paypass for the next 3 months for 5% off, and then cancel membership to get another $25 back.

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  NeggerOfDeals on 11/11/2015 - 11:37

  +3

  This deal has been going since at least February this year.

  Step 1: Join Co-Op.
  Step 2: An account will automatically be created for you at ME.
  Step 3: Wait for your account to be opened, you'll receive a letter in the mail and possibly email.
  Step 4: Wait for the money to be returned.
  Step 5: Deposit money into your ME account at any Australia Post Office (or an ME bank if you're lucky to have one near you).
  Step 6: Pay for everything you can with PayPass.
  Step 7: Wait a week (or more) for your 5% to be returned to you.
  Step 8: Once 3 months have passed, close the account.
  Step 9: Profit.

  :EDIT: 5% is capped at $5, so $100 maximum purchase.

  • 

    Jaystea on 11/11/2015 - 11:39

    Yep :)

    Yea all paypass purchases are capped at $100 in general unfortunately.

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    davidl2 on 12/11/2015 - 00:47

    Step 5 - do NOT deposit money into ME bank account at Australia Post Office, incurs about ~$2.50 charges iirc!

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      NeggerOfDeals on 12/11/2015 - 01:10

      Back in March of this year, there was no fee for me.

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        davidl2 on 13/11/2015 - 00:36

        they must have changed it, I had account with them & was doing cash deposit @ AusPost almost every month!
        only later I found out that MeBank keep charging me $2.50 or so each time I deposit cash, which is ridiculous compare to ING which is FREE…….

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  abc on 11/11/2015 - 11:48

  +3

  Would this work for existing customers of ME Bank? People who have previously held an ETA account however have closed it?

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  illumination on 11/11/2015 - 11:48

  I think this is the only way to get 5% cashback at the moment from anywhere, so it's a pretty good deal.

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  NGPriest on 11/11/2015 - 13:25

  What if we already have a mebank account? :S

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  c64 on 11/11/2015 - 15:44

  mebank give a $50 discount if you join directly don't they?

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  DeafMutePretender on 11/11/2015 - 22:28

  Sounds so convoluted, as they usually are. I echo the above sentiments: can existing ME members apply?