$50 When You Open a New Complete Freedom Account @ Bank of Melbourne

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Looking at options for a new transaction account and came across this. The Bank of Melbourne Complete Freedom Account currently offering $50 cash. The account is fee free when you deposit $2000 per month.

Full terms: To receive a one off $50 deposit, customers must open a new Complete Freedom Account between 18/01/19 and 03/04/19 (inclusive) online, or if under 21 years of age or a full-time tertiary student including apprentices, customers may also open an account in branch; and must deposit a minimum of $500 within 30 days of account opening, AND ensure the account remains open for at least 45 days. Offer excludes customers who hold or have held a Complete Freedom Account with Bank of Melbourne, BankSA or St.George Bank at any time. Not available with any other offer. Offer limited to one $50 deposit per customer. Where a joint account is opened, if one of the joint account holders has already received their deposit in respect of another account, then none of the remaining joint account holders will be eligible for the offer in respect of the joint account.

Related Stores

Bank of Melbourne
Bank of Melbourne

Comments

  • +7 votes

    Offer excludes customers who hold or have held a Complete Freedom Account with Bank of Melbourne, BankSA or St.George Bank at any time.

    Rip

  • +4 votes

    Complete Freedom Account

    You've gotta give for what you take

  •  

    That $2000 deposit a month to waive $5 fee is almost a deal breaker for me.. Still signed up tho

  • +1 vote

    allow me to suggest, if you only put say 1200 pcm in an account, you can link it to another account and transfer 800 in and out in a few seconds. I guess its a bit of a loophole…cheers

  • +2 votes

    Just to clarify - you get the cash back if you deposit $500 in first 30 days. But to keep the account fee-free, you have to deposit $2000 a month. Therefore, keeping the account "active for 45 days" pretty much requires you to deposit $2,000 min (perhaps $4,000 over 2 months) to waive the monthly fee AND get the cashback

  •  

    This is a long term deal I think. I know they changed the start date just recently. I signed up for an account with the same promotion over a week ago, got the SMS confirmation and then the message that it will take about 1 business day to set up the account. Have not heard anything since then.
    They are a bit slow.