St. George Bank: $40 Bonus When Opening an Account and Deposit $500

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Ldanbal on 22/02/2020 - 10:54 stgeorge.com.au (302 clicks)
Last edited 24/02/2020 - 17:39 by 1 other user

Similar with the deals of other banks from before.
I had one with HSBC and still use it now. Bank of Melbourne (affiliate bank) has a similar offer.

Bank of Melboune here

Read the T&C if you have time. To make sure there are no surprises.

$40 Offer: To receive up to $40 credited to an everyday account, customers must open a new Complete Freedom account between 17/01/2020 and 31/03/2020 (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 (‘eligible customer’). Eligible customers will receive $40 deposited into their account within 45 days of account opening following successful identification verification. The account must remain open during this period in order to be eligible for the offer. Excludes customers who hold or have held a transaction account with St.George Bank, Bank of Melbourne or BankSA at any time. Not available with any other offer. Offer limited to one $40 deposit per customer. Where a joint account is opened, if one of the joint account holders hold or have held a St.George Bank, Bank of Melbourne or BankSA transaction account at any time then none of the remaining joint account holders will be eligible for the offer in respect of the joint account.

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St.George Bank

• 

  31mop on 22/02/2020 - 12:14

  Any ongoing fees?

  • 

    WoodYouLikeSomeCash on 22/02/2020 - 12:57

    Not for this account.

    • 

      [Deactivated] on 22/02/2020 - 12:58

      +3

      (when you deposit at least $2,000 by the last business day of every month)

      • 

        WoodYouLikeSomeCash on 22/02/2020 - 12:59

        Oops missed that bit. The fee is $5 if you don’t deposit the $2K minimum.

        • 

          alamodey on 29/02/2020 - 16:08

          @WoodYouLikeSomeCash: Can you deposit $2,000 every month and then transfer back out immediately? Or does your account have to grow by $2,000 every month?

          • 

            WoodYouLikeSomeCash on 29/02/2020 - 16:41

            @alamodey:

            you deposit a minimum total of $2,000 into the account between close of business on the last business day of the previous month and close of business on the last business day of the current month. If you make a deposit in a month after the last business day of that month, that deposit will be included in the minimum total monthly deposits calculation for the following month.

            • 

              alamodey on 04/03/2020 - 18:12

              @WoodYouLikeSomeCash: so my $2,000 doesn't necessarily have to stay in the account?

    • 

      danbal on 22/02/2020 - 13:20

      Probably just deposit $500 one time then pull it out. But you incur the $5 account fee. $35 still not bad since its technically free money. Buy a 6pack and some chips.

      Save you the hassle of the $2000 month end deposits.

  • 

    INFIDEL on 22/02/2020 - 14:17

    None if you meet these criteria (from PDF)

    The Account Service Fee is waived for each month if:
    • you deposit a minimum total of $2,000 into the account between close of business on the last business day of the previous month and close of business on the last business day of the current month. If you make a deposit in a month after the last business day of that month, that deposit will be included in the minimum total monthly deposits calculation for the following month; or

    • at least one St.George home loan (excluding Portfolio Loan) repayment is automatically deducted from your Complete Freedom account between close of business on the last business of the previous month and close of business on the last business day of the current month.

    This fee is also waived if you (and any other account holder for a joint account) notify us that you are:
    • under 21; or
    • a full time tertiary student or apprentice.

    For those on a concession, you would be opening a Concession Account, which is different & may not qualify. There is no monthly Account Service fee.

• 

  ginmi on 22/02/2020 - 13:20

  How easy is it to close the account after getting paid?

  Can I just do it easily online or do I have to go through the BS of going to a branch/mailing in forms/dealing with a call centre rep?

  If it's the latter then not worth it for $40 imho given the product itself is complete and utter rubbish compared to what's available out there.

• 

  INFIDEL on 22/02/2020 - 14:19

  +3

  Note: Excludes customers who hold or have held a transaction account with St.George Bank, Bank of Melbourne or BankSA at any time.
  Bugger! I had one years ago for a similar offer.