Saving Accounts with No Growth/Zero Withdrawal Requirements (or with Work around)

Ave Maria on 21/07/2025 - 12:15
Last edited 10/10/2026 - 03:41 by 1 other user

Use the provided tables & info as guide. Make up your own mind what to use & always check the bank provided Term & Conditions (and fine print).

🏆 Best Payment Hub NO HOOPS Saver Accounts (Ongoing Rates)

Account	Maximum%Rate	Up to	TransferLimit	ATM$Out	DD/BPay/PayTo	Useful Tips & Information
Macquarie Saver	5.00%	$2Miln	~$100K	$2,000	✔	5.25% up to $250K from 15 October 2026. ATM out from Transaction Account. Discount Gift Cards. ~NPP / OSKO / Authenticator APP.
MyState Hello	^5.65% / 5.25%	$500K	~$20K	$1,100	✔	New Rates from 8 October 2026. ATM out from Transaction Account. ~$10K OSKO. Interest Rates Terms & Conditions ^Welcome rate up to $500K for 4 months for New Customers.

🏆Saving Accounts 4 Month Promo Period Rates (only rates from 5.90% and above with no age restrictions listed)

Account	Maximum%Rate	Up to	TransferLimit	ATM$Out	DD/BPay/PayTo	Useful Tips & Information
ING Booster	*^6.25% / 5.65%**	$500K	Max	$2K	✘	New Rates from 9 October 2026. ^Promo Rate *Ongoing rate after 4 months. Grow by $100. Money out from Orange Everyday. $5K OSKO daily limit.
Ubank Save	*^6.10% / 5.35%**	$1Miln	$100K	$2K	✘	New Rates from 6 October 2026. ^New Customer *Ongoing after 4 months. Grow by $1. Money out from Spend Account via OSKO.
Bankwest Easy	*^6.00% / 5.25%**	$250K	$50K	$2K	✘	New Rates from 9 October 2026. ^Promo Rate *Ongoing rate after 4 months. $20K online transfer limit, $50K from app. Money in/out from Easy Transaction. $5K OSKO.
Rabobank HISA	^5.90% / *4.00%	$250K	$300K	✘	#	^Promo Rate *Ongoing rate after 4 months. #Via Direct Debit to/from Nominated Account.

🏆 Best Personal Saver Account Ongoing Rates (only rates from 5.50% and above or select accounts providing Online + App Access, with no age restrictions listed)

ING Maximiser, BOQ Smart, MEB Home require bonus interest criteria to be met in the previous month. This allows taking money out in the current month without loss of interest.

Account	Max% Rate	Up to	Card Tran	Monthly Deposit	Grow Amnt	Transfer Limit	ATM Out	Pay Out	Direct Debit	Useful Tips & Information
ING Bank Maximiser	5.75% 0.01%	$100K over$100K	5	$1000 to Any	$.01	Max	$2K+	+	✘	New Rate from 9 October 2026. Monthly account flip for growth. +From Orange with $5K OSKO. No new Maximisers can be opened after 30 November 2026.
ING Bank Booster	5.65% 2.50%	$500K upto$2Miln			$100	Max	$2K+	+	✘	New Rate from 9 October 2026. Base rate if growth not met. +From Orange with $5K OSKO.
BOQ SmartSaver	5.65% 0.05%	$250K over$250K	5	$1000 to Everyday		$200K	$2K+	+	✘	New Rate from 9 October 2026. Instant BOQ <-> MEB transfers. +From Everyday with $5K OSKO.
MEB HomeME	5.60% 0.05%	$1Million over$1Miln		$2000 to Spend		$200K	$2K+	+	✘	New Rate from 9 October 2026. Instant MEB <-> BOQ transfers. +From Spend with $5K OSKO.
Judobank Saver	5.60% 5.10% 0.05%	$250K upto$2Miln over$2Miln		$300		$20K~	✘	#	✘	New Rate from 7 October 2026. #Via BECS to nominated account.~Call for larger transfer. Multiple accounts (Max 5) "extend" balance cap & daily limits.
Rabobank Premium	5.40% 3.75% 0.65%	$250K over$250K ^Base%			$200	$300K	✘	#	#	No move so far in October. #BECS Direct Credits/Debits via nominated account. $5M deposit limit. $300K daily withdrawal limit. ^Base rate if growth not met.

🏆 Best SMSF Cash & Term Deposit Accounts (only Saving Account rates of 5.15% or Term Deposit rates of 5.45% and above listed)

Bank	Product Type	Rate (pa)	Notes
Account	at call
Judobank	SMSF JSA	5.36%	New Rate from 7 October 2026. Up to $250K. $500 monthly deposit. $20K daily BECS
Great Southern	Biz+ Saver	5.15%	New Rate from 30 September 2026. No Cap. $100K/$5K Daily BECS/OSKO limit. No conditions
Term Deposit	Term	Paid on Maturity	Monthly Interest Payments
Unity	2 Year	5.55%	5.40%
Judobank	4-5 Year	5.50%	5.40%
Judobank	1-3 Year	5.45%	5.35%

Financial Bank Account Savings Account

Comments

Best

KangaDrew on 21/07/2025 - 12:33

Sorry to ruin your day, but, yeah… someone's already doing this on a much larger scale.. It's constantly being updated also.

You an read about it more in this thread and from the original Whirlpool source.
- 11
- squeeb on 22/07/2025 - 11:04
  
  I was actually only thinking the other day that the formatting in that interest rate Google sheet could be improved for better readability. I like the way that @Ave Maria has clearly defined and expanded the columns. This has some very useful information that is not included in the Google sheet. Thank you @Ave Maria!
  
  2
Ave Maria on 01/07/2026 - 21:53

Before I forget and it is too late to do so.

Happy New Financial Year to everyone (or happy end to the last one -:)
- 9
- bluesky on 02/07/2026 - 23:08
  
  Same to you!
  
  0
- tenpercent on 04/07/2026 - 20:19
  
  And a (belated) Happy New Financial Year to you too, Ave.
  
  0
Ave Maria on 21/07/2025 - 13:26

I am aware of the whirlpool spreadsheet - this is Oz Bargain audience specific - the xls scope is too wide and also not updated regularly - this is for a more specific/narrow audience & give a bit more info on what the account can do (like direct debits and scheduling payments) - there is no duplication of effort in that respect and nobody's day has been ruined -:)
- 8
- KangaDrew on 21/07/2025 - 14:43
  
  The scope may be "too wide" for you, but not for others. There's a reason why the leader board spreadsheet is so popular across OzBargain, Whirlpool and Reddit. Having a larger dataset that can be filtered down to suit any individual's circumstances is much more beneficial to a larger number of people than a cherry-picked dataset. You simply need to run a quick search using the word "grow" on the spreadsheet and you can see all the banks that have that requirement.
  
  But if you have the time and inclination to monitor the banks and update the table, happy trails.
  
  5
  - Mugsy on 22/07/2025 - 07:42
    
    I'm fond of the accounts leaderboard spreadsheet as much as the next person and am grateful to those who maintain it… but there's definitely improvements that can be made to make the filtering down process easier and quicker.
    
    2
Ave Maria on 17/03/2026 - 15:07
As expected the RBA has raised by .25% so another round of updates coming up.

It makes it more and more desirable to find a top rate with almost zero conditions for a one stop savings (for those that the $250K Government Guarantee is not a concern).

Such a bank is for me Judo Bank (and for those raising eybrowes I will proceed to explain why).

You can open Multiple Judo Saver Accounts (JSA)

Each account enjoys 5.1% (or whatever will be next) up to $250K, and 4.60% if you go over

You can cycle a BECS transfer $300 to meet the deposit requirement between the JSA accounts (using the account nomination)

There is no fixed nominated account, you can add as many as you like to the payee list (SMS approval required) & switch at any time (no approval required)

The $20K daily transfer limit is per account. So, as an example, you can have 5 JSAs allowing you to take out $100K per day ($20K from each one).

You can not yet do an instant internal JSA to JSA transfer, Judo needs time to figure that one out.
It takes about 2-3 hours to process on the scenic route via the next BECS window.

I have confirmed the multiple accounts - I opened 5 of them.
Each account has it's own rate/cap & transfer limits as confirmed via Judo Bank official avenue (also Terms & Conditions)

Enjoy the JSA top rate while it lasts. The scenery may change a little bit by the end of March, even more likely in May but right now it is "as Judo as it gets".
- 8
- - - Mad Max on 17/03/2026 - 15:33
      
      Thank you!
      With Judo being the best interest rate of all at the moment, don't you think it is risky to put EVERYTHING in there?
      
      0
      - Ave Maria on 17/03/2026 - 15:35
        
        @Mad Max: I cannot give advice on that. Yes there is always a risk but I am taking it.
        
        There is always going to be a smoke before a big fire in the banking sector.
        
        0
      - surfingedge on 17/03/2026 - 15:41
        
        @Mad Max: The question is will Judo raise their rate?
        
        I hope Rabo will go to 5.15 and BOQ to 5.1
        
        0
        
        Ave Maria on 17/03/2026 - 15:49
        
        @surfingedge: If anybody will raise rates Judo bank would go first - it is a new product so they want to keep it as the most attractive.
        
        Even if they did not - still higher than MEB & would be at least same as BOQ, Rabo would only go (if any) .05% higher and ING remains the only possible higher rate.
        
        If you consider you almost stop worrying about conditions (just $300 deposit) then why not go Judo all the way.
        
        I am not promoting the product, just pointing to the advantages.
        
        Everyone should make their own decisions & risk considrations.
        
        3
        
        Mad Max on 17/03/2026 - 15:42
        
        @surfingedge: Yes, but everything staying equal Judo should go to 5.25…
        Who knows.
        
        0
        
        Ave Maria on 17/03/2026 - 15:51
        
        @Mad Max: You mean 5.35% -:)
        
        1
        
        Mad Max on 17/03/2026 - 15:53
        
        @Ave Maria: Yes, sorry didn't add properly 🙂. It has been too long since we saw these numbers 😁
        
        0
- dingdong3000 on 31/03/2026 - 08:50
  
  Does transferring JSA I to JSA II account count towards the daily withdrawal limit?
  
  0
  - Ave Maria on 31/03/2026 - 10:16
    
    Yes - there is no such thing as an internal transfer - only transfers to a BSB based account via BECS (so it is not instant)
    
    I currently have SMSF TDs paying monthly interest into SMSF JSAs for convinience (and meeting the $500 deposit requirement).
    
    For persoal JSAs I have schedule set & forget transfers of $300 from Macquarie to the JSA account(s) onthe 1st of each month.
    
    As I prefer not to have to call for a temprary limit increase I have divided Juso savings into multiple JSA accounts (buckets).
    
    That gives you a $20K daily limit per account. & more flexibility to move money around.
    
    0
Ave Maria on 23/03/2026 - 13:22

Rabobank is still pretending they do not know anything about the RBA March rate hike, and BOQ/MEB are still reviewing (how badly their savings coffers are being emptied).

I suspect by the time all 3 realise they had something very close to a "bank run", it may all be to late (even if they raise rates afterwards) unless they do something drastic and raise their rates to 5.40%-5.5% (unlikely but a good outcome if they do) to attract savers back.

Great Southern Bank is also another "Great" rate denial bank (they work in mysterious ways that their own customer owners never know about).
They launched a new Business+ product, they bated customers (Business & SMSF) in a few months ago and then left the rates stagnate.
Fortunately Judo Bank came to the rescue. As for personal rates, I abandoned GSB even before the February RBA hike and moved to MEB/BOQ (now moved to Judo).

Moving your mone out is the only way banks will keep their rates competitive & perhaps remove some of the traps/conditions.
- 8
- finbar on 23/03/2026 - 13:52
  
  Never underestimate the laziness of people. Banks won't be seeing any exodus this week.
  
  2
- runamuck on 23/03/2026 - 15:59
  
  Me Bank as well. Quick to increase rates for home loan but no news on savings.
  
  0
Ave Maria on 16/01/2026 - 16:58

For anyone that has savings with Virgin, they are about to do a significant rate drop on February 18th, while all indications are that the RBA may decide on an interest rate rise. Coincidence? I think not. So if you have money locked and might decide to take them out from boost saver you better act now.

The drop means that the bonus rate of 4.15% is reduced to 3.65% (yes a .50% drop !!!!!). Looks to me they are trying to go out of the savings business.

https://virginmoney.com.au/bank-and-save/
- 7
- finbar on 16/01/2026 - 23:19
  
  VM decided two months ago to drop rates. It wasn't decided just now.
  https://forums.whirlpool.net.au/thread/3jww4wk9?p=52#r760181…
  
  1
- Mad Max on 16/01/2026 - 18:43
  
  Hopefully ME Bank doesn't follow suit. They are both BoQ owned aren't they?
  
  0
- Neoika on 17/01/2026 - 12:48
  
  Unlock today and take out money right on 18 Feb.
  
  Unfortunately, the rate will be 4.20% till then.
  
  Although its App is snappy, I won't put major amount in it any more.
  
  0
Ave Maria on 31/03/2026 - 02:11

Extra! Extra! (Midnight News)

Me Bank updated their website at about 2am to reflect a new interest rate for the HomeMe account @ 5.10%

they have jumped by .35%, but they have not leaped above the top rates (still 4th place), and far behind the top promotional rates (like the ING Accelerator).

HomeME

Lets see if on the 2nd of April, Great Southern Bank surprises everyone and decides to go for GOLD (they have done it for Term Deposits).
Doing so a day before the Eastern long weekend does not allow for immediate deposits taking advantage of whatever they will offer.
They are literaly a bunch of fools that missed April fool's day, at least Me Bank did it a day before -:)
- 6
- archiexyz on 31/03/2026 - 18:22
  
  Called it!
  
  0
Ave Maria on 21/07/2025 - 18:36

I intentionaly left out accounts that require a selfie (I mentioned that in my original post but not here) - also included those accounts that do have a work-around to the growth requirement, especialy ING as it is offering the highest rate -:) - this was a quick attempt to give a quick reference to anyone wanting to move out of a must grow balance account and not imposing a selfie requirement. I will look at all the feedback when I get a chance and amend accordingly but I do not want to have to maintain all available banks as it would be to big a task. For full details of any of the listed banks and their saving acounts it is always advisable to check directly on the bank web site.

And yes, it is very bad that banks do not tell you upfront that they require a selfie until after almost completing the application and uploading all your private details.
- 5
- bluesky on 21/07/2025 - 18:52
  
  I intentionaly left out accounts that require a selfie
  
  This is great!
  
  0
Ave Maria on 21/07/2025 - 23:51

To meet the 5 card usage you can simply use your card 5 times (need money inthe Orange Acccount) or like I do each month just put $5 in the Orange account and repeat 5 times buying a $1 Gift Card on Amazon. What I also do, so I can withdraw if I need the money (or rates drop and need to take it out), is to have 3 Saving Maximisers. I have $100K in the currently bonus interest nominated account, $1 in the one nominated for next month, and one empty. I just shift the money between the 3 accounts ($100K to $1, $1 to zero account) on the 1st of each month, nominate the 1 that now has $1 (from zero) to receive the interest next month and take the interest out (as it is over $100K). It literaly takes just 5 minutes to do that each month.
- 5
- Speckled Jim on 22/07/2025 - 10:20
  
  Explains my last couple of service term updates.
  
  0
  - silenthillrocks on 22/07/2025 - 10:28
    
    Do you mean they're cracking down on this by updating the T&Cs?
    
    0
    - Ave Maria on 22/07/2025 - 11:53
      
      Not really - they clearly stated that they can close accounts for any reason they see fit - they could have done that already - they just put it in writting.
      I have been doing the 3 account rotation for 2 years now - it is within their rules & unless they change their rules it is legit -:)
      
      Main reason for closing accounts is for suspect deposits & trading (like bitcoin)
      
      0
- Mugsy on 22/07/2025 - 11:46
  
  This is probably the clearest way anyone has explained the 3x SM trick to allow for funds to be taken out and still get max interest.
  
  0
  - Ave Maria on 22/07/2025 - 11:50
    
    and I would have explained this and other ? the same way in WP if I was not banned 2 years ago for life -:) their loss not mine -:)
    
    0
    - bluesky on 22/07/2025 - 15:46
      
      Why were you banned? Does WP consider sharing legit tips/tricks that optimise someone's saving to be gaming the system? I keep hearing complains here about WP moderators being dictators (I don't use WP other than the casual visits following others' links when they reference some specific topic in WP).
      
      0
      - Ave Maria on 22/07/2025 - 19:58
        
        @bluesky: Conflict with a moderator - less said the better -:)
        
        0
- Mugsy on 30/08/2025 - 23:50
  
  Just wondering if you know where the option to change the SM account that is eligible for the bonus rate can be found in the ING app? Or is it only found on the web banking portal?
  
  Cheers!
  
  0
  - Ave Maria on 31/08/2025 - 00:40
    
    You can only check and change your nominated Savings Maximiser account via online banking. You can still do it from the phone, just not from the app.
    
    1
Ave Maria on 27/07/2025 - 15:02
I have seen a lot of missinformation on WP as of late. As I cannot respond & correct on WP I will just add some correct info (based on 20 years as a rabobank customer) here. I will not add a new forum post as that comes with unwanted attention (unfortunately -:)

The below only relates to Rabobank Online banking (HISA, Premium Saver, Notice Accounts & Term Deposits)

What do you need to operate a Rabobank Online Savings account?

You no longer need a dongle. Both Online & Smart App access is provided but you can only change the nominated linked external account online. You also need a code generated from the smart app to logon online so having a smart phone (or using an android pc emulator) is necessary.

What is a nominated linked account ?

A nominated account is the only way to transfer funds in/out via the rabobank Direct Debit/Credit facility. You can only have one nominated linked account at any point in time. To create or change a nominated acount you must go through a verification process that normally involves sending $1 from the nominated acount with a "Verify" in the reference text. It can take up to 2 business day to be activated. If the automated process fails alternate method is to provide a statement or letter of ownership for the nominated acount and email it to Rabobank. Their it support has aways been helpful on the occasional issue (usually BSB missmatches with some Credit Union/Mutual based banks and St George).

What is their Online Support like?

Good. By calling 1800 445 445 MON – FRI 6am - 8pm (Sydney time). The Rabo web page has more info https://www.rabobank.com.au/contact-us

Can you pay to anyone?

No. Only to Australian held accounts & only payments via direct credit to the nominated account can be made. No transactions can be requested on a non business day. Payments go via the BECS schedule same day if requested before their deadline (6pm). Doing payments earlier will quarantee payment is received same day (with St George is the same but funds will not be available until next day).

Can you receive funds from anyone?

Yes but only from Australian bank held accounts.

How can you deposit funds?

Funds can be deposited from an external account into the HISA/Premium Saver accounts. If initiated from the other bank, via BECS. If done early the day that quarantees same day transfers. If initiated via a direct debit request from Rabobank before 6pm, funds are credited immediately same day otherwise processing is delayed for next day. Funds received via direct debit are locked for 2 business days before made available.

Does Rabobank support OSKO/NPP ?

Sadly NO. All payments go via the Australian BECS system as standard payments.

What are the Transfer limits ?

You can transfer in up to $3Million via direct credit or by direct transfer from external bank up to that bank's limit.
You can transfer out via direct debit only, up to $300K per account held with Rabobank. That is $300K from each of HISA, Premium Saver or Notice accounts.
Limits can be increased if needed by calling 1800 445 445 MON – FRI 6am - 8pm (Sydney time)

Can you fund a Rabobank Term Deposit directly from an external acount?

No you have to transfer 1st either into the HISA or Premium Saver accounts. Funds received via direct debit are locked for 2 business days before made available. So if you plan to fund a term deposit from external funds via direct debit you have to wait 2 days. Alternatively do a direct transfer from the external account to the HISA or Premium Saver so received funds are available for use immediately.

Can a matured Term Deposit and/or interest paid to an external account?

No, only to the HISA or Premium Saver that was used to fund the term deposit.

Can you transfer between your own Rabobank accounts anytime?

Transfers between own accounts are unlimited but can only be done on business days.

Can you shedule future payments?

Yes, but sheduling is only availabe for transfers to occur on a business day.

Have you ever had any troubles banking with Rabobank.

Not to my recollection & I never missed a single day of bonus interest or otherwise -:)

What is BECS and what is the BECS transfers schedule ?

BECS (Bulk Electronic Clearing System) handles Australian electronic payments, including direct debits and credits, by batching transactions and processing them in bulk throughout the day. Payments are exchanged in bulk six times a day on weekdays (10:00 am, 1:00 pm, 4:00 pm, 6:30 pm, 8:45 pm, and 10:30 pm). Settlement occurs on the same day after each of the first five exchanges. Transfers at 10:30pm are procesed and settled next day. It is a very robust system and the reason why standard transfers, done early enough, are processed same day even if you have to wait until very late, sometimes after 9:45pm, to see the funds in the receiving account. St George is a strange one as you may not see the funds unitl next day.
- 5
Ave Maria on 20/03/2026 - 16:40

So annoying that I have to keep searching for updates on facebook instead of the banks web site -:)

I will update the pending rates table once I find out what the deposit rate changes actually are -:) - they do not know yet -:)

Great Southern Bank Yesterday at 16:00

Following the Reserve Bank of Australia’s decision to lift the cash rate this month, our variable home loan interest rates will increase by 0.25% p.a. from 27 March 2026. Customers' minimum repayment amounts will change to reflect the new rate. Our deposit interest rates will also change from 2 April 2026.

We have many options to help customers feeling financial pressure due to higher living costs and interest rate changes.

Full details of the change can be found on our website.
- 5
Ave Maria on 30/03/2026 - 12:29

just to reassure anyone worried that getting money out of Judo Bank would be hard (it is not)

I previously only trialed 5x$20K JSA to JSA transfers (all good - although Monday 23rd March processing took until 11pm due to system overload on the day of the new rate).

This morning I send 5x$20K ($100K total) from Judo to ING and funds have been received by noon.

No need to call the bank (even though it is an option but it does not suit my preference of doing very early morning transfers & catch the 1st BECS exchange at 10am)

There is no "curse of CUSCAL" - common to Credit Unions, Great Southern Bank, Ubank etc. - lingering in the Judobank BECS exchanges.

A reminder that Great Southern Bank is a major shareholder/owner of CUSCAL, almost synonymous to it (and all the problems that come with it, not shared by all banks).
- 5
- plantatree2013 on 30/03/2026 - 13:02
  
  Thank you Ave Maria for sharing! Have a lovely week!
  
  1
- bluesky on 30/03/2026 - 14:56
  
  Great Southern Bank is a major shareholder/owner of CUSCAL, almost synonymous to it (and all the problems that come with it, not shared by all banks).
  
  With old GSB, the problems seem structural to prevent depositors taking large sums out. Unfortunately, there were few alternatives for SMSF funds with decent rates, so I guess one just live with it. Until now, of course. So far 🤞, the GSB Biz+ and Judo seems okay as far as transfers out. Please share if you start experiencing adverse experience.
  
  0
- itsDANNY on 01/04/2026 - 17:12
  
  What's the reason behind preferring not to make a transfer before the 10am BECS cut-off? Is it because there'd be a huge backlog from overnight that neess to be processed and you'd rather go in the next BECS queue (eg 12pm onwards)?
  
  0
Ave Maria on 01/04/2026 - 10:55

More confirmations (not fool's day fake news) on Judo Bank JSA accounts

(a) all of my JSAs received the correct expected interest, despite the collective total being over $250K (confirming cap & rate is per account)
(b) using the app vs desktop to do withdrawals or any action requiring verification is faster as confirmation is done via quick PIN entry rathern than an SMS received code.

Great Southern Bank will not make any further announcements today, about their upconing savings rate changes, to avoid not being taken seriously -:)
- 5
- plantatree2013 on 01/04/2026 - 11:39
  
  Thanks so much Ave Maria, this is good to hear.
  Do you know if Judo Bank Interest for June 26 received on 1/7/26 going to be 2025-2026 financial year or 2026-2027 financial year? This is very confusing because some Banks reported in same financial year and some reported as new financial year.
  
  Have A Lovely Easter Holiday!
  
  0
  - surfingedge on 01/04/2026 - 15:16
    
    As the interest will be shown on the statement as dated 30/6/26 it would be hard to justify allocating it to FY2027
    
    The banks which allocate interest to FY2027 will date the interest as credited on 1/7/26
    
    BOQ/ME will date interest as 1/7/26 but still allocate it to FY2026
    
    2
    - plantatree2013 on 01/04/2026 - 15:40
      
      Thank you Surfingedge for your feedback, we asked BOQ about this few years ago, cannot remember what their answer was.
      
      0
  - bluesky on 01/04/2026 - 15:48
    
    Generally-speaking, yes, you can rely on the date of posting.
    However, not always. I have been caught before, specifically in FY2021 - by relying on the posting date alone to predict the interest to do some tax-planning.
    
    This was 84000 (eventually bought over by Ubank) - which paid interest on the 1st. So I assumed the interest on 1/7/21 will fall into FY2022. My mistake was not to bother to check prefill, and just submitted the info to tax agent.
    In the end, tax agent said the prefill had included the interest of 1/7/21 in 2021. Sure, next year, it got adjusted back, but my tax planning was a bit off due to it.
    
    Even knowing this, unfortunately, I don’t know an easy way to find out exactly how the bank is going to treat your interest when they report to ATO.
    
    You have a Lovely Easter Holiday too.
    
    2
    - plantatree2013 on 01/04/2026 - 15:55
      
      Thank you for your feedback Bluesky! Have A Great Easter Break!
      
      1
    - Ave Maria on 01/04/2026 - 16:15
      
      Yes, I recall UBANk being a complete mess, during the transition period, reporting different dates online and different dates in statements - you had to go by what was prefilled to the ATO
      
      1
  - Ave Maria on 01/04/2026 - 16:10
    
    it credits the interest on the last day of the month - so it will be previous financial year (it is also clearly stated in theTerms & conditions).
    
    2
  - Mad Max on 01/04/2026 - 16:02
    
    In my experience Virgin Money credits interest on 1st July, date it 1st July, but still account for it in this tax year. Consistent with what Surfingedge said above regarding BoQ and ME Bank. Me Bank and Virgin Money are owned by BoQ so they all do the same.
    AMP and Rabo on the other hand, credit on 1st July, date on 1st July, and account for it in next tax year.
    
    1
    - Ave Maria on 01/04/2026 - 16:14
      
      Both Me Bank & BOQ record the interest payment on the last day of the month & report it in the previous financial year for June.
      
      I have been using both banks for several years now so this is positive confirmation.
      
      Virgin ay do it differently ( last time we had an account with them was in 2010) even though they may now be part of BOQ.
      
      Likewise, GSB accounts credit and report inlast financial year but thenew Business+ platform credits interest on the 1st of the month so interest for June will be reported in the next financial year (also in their terms & conditions).
      
      1
      - Mad Max on 01/04/2026 - 16:34
        
        @Ave Maria:
        
        Both Me Bank & BOQ record the interest payment on the last day of the month
        
        I just checked and interest for March on my BoQ and ME Bank is dated 1st April on the apps. So I expect the interest for June will be dated 1st July.
        
        1
        
        Ave Maria on 01/04/2026 - 16:39
        
        @Mad Max: Do not trust what those apps display - check the statements - and do not even trust those - they report in the previous financial years
        
        I have 3 years worth of evidence of that.
        
        1
        
        Mad Max on 01/04/2026 - 16:41
        
        @Ave Maria: I agree. Exactly as Virgin Money does. Reports in the previous financial year (even if on the app it dates the interest 1st July).
        
        0
        
        Ave Maria on 01/04/2026 - 16:54
        
        @Mad Max: The only banks/accounts that I know of (and use) that report the interest on the 1st of the month (and therefore next year) are
        
        CBA
        ANZ
        AMP
        
        Rabobank (recent change to Premium Saver)
        
        Great Southern Bank Business+ (that platform only)
        
        Possibly Bankwest (like CBA) as it pays interest on the 1st business day of the month - but I did not bank with long enough to find out (used 4 month promo last year)
        
        HSBC is the same although I only use them for a quick 2% cashback every week on split (under $100) grocery shopping
        
        1
        
        finbar on 01/04/2026 - 17:37
        
        @Ave Maria: What about UP Bank ? Don't they report interest on the 1st ?
        
        0
        
        Ave Maria on 01/04/2026 - 17:46
        
        @finbar: I don't have accounts with them - perhaps someone that has been using them can post here on their prefilling experience.-:)
        
        Generally, if interest is paid on July 1st, it falls into the next financial year.
        
        However as we all know that is not always the rule, and app usage confuses things even more as what you see in online listings is not necessarily what is actually posted in the bank ledgers (financial statements)
        
        This is from the Judo Bank Terms & Conditions (that I have posted before)
        
        "23.5 Accrued interest is credited to your Account on the last calendar day of each month."
        
        I have checked the BOQ statement just now and even though the processed day (shown in listings) is the 1st the actual value date is the last of the month (QED)
        
        0
        
        bluesky on 01/04/2026 - 18:22
        
        @Ave Maria: With GSB Biz+, they post on the 1st. Since it is a fairly new account, how can we tell if they will include the 1 Jul 2026 interest in FY2026 or FY2027? They did say this in the T&C:
        
        Interest is paid into or debited out of your account on the first day of the next
        month after interest has been earned or incurred.
        
        However, does this necessarily determine the timing for ATO reporting, or does it simply describe when interest is credited to the account?
        
        Likewise for Judo
        
        23.5 Accrued interest is credited to your Account on the last calendar day of each month."
        
        Does its T&C about crediting on the last calendar day imply the ATO reporting interest will also go that way?
        
        Both Judo and GSB+ transactions are not detailed enough to provide the value date, only posting date.
        
        Edit: Okay, GSB+ is not an individual account, so not that important to nail this info before year end. But Judo interest on 1 Jul 2026 will become relevant soon :-)
        
        0
        
        Ave Maria on 01/04/2026 - 18:47
        
        @bluesky: Wait for a statement to be issued & check the actual value date on the statement.
        
        The key word is "paid on the 1st day" vs "processed on the 1st day", that is an indication that June interest will be reported in the next financial year.
        
        Loking for any monthly statements now. Interest is paid on the 1st, end of discussion -:)
        
        1
Ave Maria on 13/05/2026 - 10:38

ING Rates update

Effective from 15th May

Savings Maximiser up by .25% to 5.50%
Savings Accelarator promo rate up by .20% to 5.85% for the 4 month promo period (then 4.80%)

Hopefully JUDO/BOQ/MEB etc. will follow with announcements soon.

If Judo does not respond, there would be some serious money moving out to ING this Friday (I am sure they do not want that).
- 5
- LaProblematique on 13/05/2026 - 11:17
  
  You're delusional if you think banks give two shits about likely less than $100,000 (ING cap) being moved.
  
  2
  - Ave Maria on 13/05/2026 - 12:12
    
    Multiply that by the number of customers they gained recently.
    
    It is $500K per Accelerator account at 5.85% + $100K per Maximiser at 5.50%, that is a total of $600K potentially moving out per customer.
    
    Following past patterns BOQ is likely to be 5.40% ($250K) and MEB 5.35% ($1 Million) in a more flexible banking environment.
    
    Rabobank (another $250K x 2) likey to jump as well.
    
    Just looking at the bigger picture & Judo bank being a new player in the saving accounts arena DO CARE about diminishing deposits that they DO NEED to fund their loans.
    
    0
    - Mad Max on 13/05/2026 - 12:46
      
      Those that could get 5.65% in the accelerator did not leave money in judo at 5.35% (before interest rate increases) so it is really only the $100k maximiser that could attract money from judo. That is if the $100k maximiser wasn't already maxed out anyway.
      
      0
- Mad Max on 13/05/2026 - 12:43
  
  Disappointing the 0.2% for the Accelerator. They must not need extra deposits…
  
  0
Ave Maria on 23/05/2026 - 00:25

Sharing some observations I made for BECS transfers processesd by Judo Bank and GSB Business+

Judo will actively send/receive and process transfer requests with each BECS window.

Business+ will process payments in with the 10am (received at 11:30am) & 6:30pm (received at 7:59pm) batch windows.
it holds any BECS files received with the 1pm & 4pm window for processing with the 6:30pm window.
I have observed the same behaviour on multiple transfers (for my SMSF), and the reason I try to do all transfers to Business+ before 8am.
- 5
Ave Maria on 06/08/2026 - 21:22
Sharing my thoughts (bad ones about bad banks) -:) - No further comments necessary

Rabobank forced all their customers to use a smartphone by moving away from the digipass to generate a secure code about 2 years ago. Now they are sending emails to customers that use older adnroid devices that they need to by a new smartphone. Just to logon to Rabobank Online or even use the app. How about giving them all a free basic smartphone instead. -:).

CBA has about a year ago forced all customers that use Online banking to use a smart phone + app to authenticate online logons. You actually have to lo onto the app and do multiple steps to authorise the online access (why bother!). It will not be long before they also ask their customers to buy a new smart phone so they can keep banking with them.

CBA is the only bank I know of that charge a monthly fee for their transaction account unless you meet certain consitions (like a $2K monthly deposit or have a loan). They are in a class of their own.

Some banks are moving away from not just beeing branch-less to also being app only (like AMP Go and ANZ Plus) and require a selfie to become a customer. I am not going anywhere near them.

Even banks that have an online banking portal now require you to use an app and a selfie to become a customer (ING ?). That is appaling and excludes older Australians that do not want or need to use a smart phone or do not want to hand over their face for privacy reasons. If I had the power I would make such practices illegal in Australia (RBA where are you?).

I do not understand why smart phones have to rule everything & be the center of a household's security (but perhaps I am too old).
You loose the smartphone or it gets damaged and your entire life goes into a lockdown.

You need a second device as a backup and it may not be functional for logons as only one device is allowed to generate secure codes - like Rabobank does OR all secure codes go to the mobile phone that just dropped into the ocean as the bank does not use push notifications; only SMS.

Final Verdict for banks I currently use, is that I can logon online either directly or with an SMS code (like BOQ, MEB, Ubank) and only require another SMS code for special activities like adding a new payee or making payments. Only CBA & Rabobank are a pain in the ass in that respect = NO App No banking.

A workaround, where a mobile number is not strictly necessary, would be to use an adroid device emulator on a desktop, and install the app there. Where it works (not always) it completely bypasses the app & smartphone requirement. I stopped doing that, as I now use a smartphone, but I know that even secure apps like MyID works from an android emulator as I have done so in the past for MyGov when I was still able to use my 2G Nokia mobile phone and I did not realy need a smartphone. Those were the days (I loved that phone by the way that could just sit in my jeans back pocket and not even notice it was there -:).
- 5
- Yola on 07/08/2026 - 16:05
  
  CBA is the only bank I know of that charge a monthly fee…
  
  Also Westpac.
  
  1
  - bluesky on 07/08/2026 - 16:55
    
    And ANZ too - the only one among the Big 4 that doesn't seems to be NAB.
    
    0
    - timhn on 08/08/2026 - 09:56
      
      the only one among the Big 4 that doesn't seems to be NAB.
      
      St George/BoM/BankSA group all have $0 monthly fee for their debit account.
      
      2
    - Ave Maria on 07/08/2026 - 18:17
      
      I have an SMSF transaction account with ANZ, V2 Plus and they do not charge fees.
      
      I never had a personal account with ANZ even though in a bizare way, the customer account I have seems to be under under my personal profile.
      
      I made the mistake in 2010 of opening a Term Deposit with ANZ, thinking it is for my SMSF as the ANZ account was set up for that purpoce only by e-superfund and it ended up reporting interest on my personal SMSF - so I had a few calls to the ATO and a visit to ANZ branch to fix the mess they helped create.
      
      I am not using the ANZ as it only pays 4% interest to my SMSF. I only keep it as it is the account registered with the ATO as my main SMSF account for refunds etc. & I can't be bothered to change it.
      
      0
      - bluesky on 08/08/2026 - 02:33
        
        @Ave Maria: Since you mentioned the account, I googled the ANZ V2 Plus - it’s integrated with share trading, so it’s kind of like CommBank’s CDIA account, which is integrated with CommSec share trading. And that’s also free.
        
        0
  - Ave Maria on 07/08/2026 - 18:09
    
    I only had a no fee credit card with Westpac, back in 2000 -:) I eventually cancelled it during COVID & later on they splashed a fee on the card.
    
    My Wespac logon still works -:) and they recently asked me to verify my details even though I have zero accounts with them.
    
    I do have St George accounts (still Westpac) but they do not charge any fees
    
    0
- Red Rump Murt on 09/08/2026 - 22:13
  
  Rabobank forced all their customers to use a smartphone by moving away from the digipass to generate a secure code about 2 years ago. Now they are sending emails to customers that use older adnroid devices that they need to by a new smartphone. Just to logon to Rabobank Online or even use the app. How about giving them all a free basic smartphone instead. -:).
  
  I'm afraid that not even giving customers a free simple phone will work. Not only do Rabobank force users to use their own smart phone, they also force that phone to have a biometric security password active on it as well. So not only do Rabobank think they have the right to tell you what you must own in order to use their service, once you own that thing, they will also dictate how you must use it as well! If you activate the biometric password just to activate the app on the phone and then think you can switch it off again afterwards, you are sorely wrong. Any deactivation or editing of the biometric password once initially set on the phone will instantly and permanently kill the connection between the phone and a working version of the Rabobank app. It means everytime you want to use the Rabobank app if you're not willing to have to biometrically unlock your phone for every use ~300 times a day, is that you have to use the Forgot Password link and re-register the phone every single time, which involves several SMS text code inputs, several typed passwords, even more SMS text codes before you get to create your new PIN which you then have to confirm multiple times via the receipt of even more SMS text codes and email confirmations. Ask me how I know this because I have to do this rigmarole for three phones at the beginning of each and every month.
  
  Trust me, a cheapie $50 basic phone will not cut it. I have had this out with Rabobank because their basic customer base is very rural and they have had a lot of complaints from their base when they ditched the Digipass and then found their choice of mobile was incompatible with the new Rabobank app. They copped even more abuse when they bought new phones that were not Apple iPhones, and found that they too would not work due to the biometric password nonsense they didn't bother telling anyone was also required. In short, if your phone isn't newish and didn't cost at least ~$500, it's not going to be good enough for Rabobank's ridiculous requirements.
  
  1
  - Ave Maria on 10/08/2026 - 01:09
    
    I have not activated biometrics on any of the apps I use. They keep asking but I keep declining.
    
    So far I have no issue with the Rabobank app using just a pin to use it. If they are forcing biometrics then that is the last straw I am done with Rabobank and will move everything to Me Bank at 5.35%. I get 5.40% with the ING Booster anyways.
    
    The one mistake I made was with MyGov by moving to digital id from password logon (not realising I could not switch back - as there was no warning to that effect). Now that passkeys are available the ATO will not allow me to switch from digital id to passkey. I can logon to MyGov with a passkey, but ATO says no, exit and come back with a digital id. There is no way to resolve that other than deregistering from My Gov/My Id and registering all over again from scratch (no thanks - once was enough)
    
    Similar to what you are describing if you switch biometrics on with Rabobank.
    
    1
    - Red Rump Murt on 10/08/2026 - 12:04
      
      The one mistake I made was with MyGov by moving to digital id from password logon (not realising I could not switch back - as there was no warning to that effect).
      
      Ahh young grasshopper, you fell into the trap of trusting the government. Always avoid or deny anything and everything to do with Digital ID for as long as you possibly can, even if it means inconvenience for you. The ultimate goal of governments worldwide is that all citizens everywhere are constantly surveilled and monitored in everything they do, everywhere they go and everything they spend money on. Everytime you use your Alexa/Siri/Gemini, everytime you speak into voice activation connected TV remote, everytime you command your car to dial someone hands free on your connected phone, everytime you use MyID on your phone to access government services, you are enabling and advancing the eventual complete take over of all your autonomy and freedom to do as you wish, when you wish. It's not a conspiracy, it's real and it's happening right now.
      
      When Australia gets Flock cameras like they've been rolled out in the US over the past 3 years, it's over. You may as well move to Beijing. I predict Flock cameras everywhere are probably only at most 2-3 years away in Australia. Enjoy those last 2-3 years for as long as you can. They will be the last of the 'good ol' days' you'll want to cherish forevermore as 'how good it used to be'.
      
      1
      - tenpercent on 10/08/2026 - 12:26
        
        @Red Rump Murt:
        
        When Australia gets Flock cameras like they've been rolled out in the US over the past 3 years
        
        They were rolled out all over Sydney (except for some rich areas) while we were under lockdown. Look up at the traffic lights at major intersections and along the highways. They're already here. I am not sure the brand or if "Flock" is involved, but a lot of the physical surveillance infrastructure was installed ~5 years ago.
        
        After lockdown when people started noticing, they said they were supposedly just to monitor traffic. Fast forward 5 years and the NSW government is placing all drivers license photos into a facial recognition database (following WA and SA) and giving the police permission to access unredacted facial images from those cameras (as if that wasn't the plan all along).
        
        But of course "Fact checkers have repeatedly found no evidence that the 15-minute city concept requires people to …accept digital tracking.". In a semantic sense they're correct, you don't need to accept it, they're just doing it anyway.
        
        1
        
        Red Rump Murt on 10/08/2026 - 12:37
        
        @tenpercent: Yep, it's all over the place in WA too. Every intersection has ANPR cameras, every carpark has signs (whether they're telling the truth or not is another debatable matter) saying ANPR cameras in use, regardless of whether parking is free or paid. In WA at least there is a huge bank of multiple cameras of every kind on the six or so major trunk road entries into the Perth metropolitan road area network. You literally cannot enter or exit the Perth metro area without your presence being recorded and tracked, if you do it via a vehicle with a number plate attached to it. Now they're adding facial recognition to the cameras' functionality too, so they can not just track vehicles, but each individual person in the vehicle too.
        
        At present, they're not Flock cameras (which have a very distinctive look to them like a barn owl face), but they will be soon enough. The problem with Flock is that it's the company that is financially backed by Palantir aka Peter Thiel and JD Vance, and those are the guys who don't believe that humans should exist at all and that AI should run the world. Basically the plot of the Terminator movies. So there's that.
        
        1
    - finbar on 10/08/2026 - 08:18
      
      Android Rabobank don't offer biometrics so how can it be switched on and compulsory lol?
      
      0
    - finbar on 10/08/2026 - 11:36
      
      I was in similar position to you with ATO access on myGov. It requires Digital ID everytime you want to access ATO. I did find a work around however it only applies to the myGov app. I don't think it works with the website. Anyway under the apps sign in settings I connected to Digital ID. That's means once you open the app it's automatically connected to the Digital ID. You can then choose whatever method you prefer to login into the app eg PIN or passkey etc. I chose PIN. So now I can login to the myGov app using PIN and I can access ATO with no issues coz the app is connected to Digital ID.
      
      0
      - Ave Maria on 10/08/2026 - 12:08
        
        @finbar: I tried the MyGov/ATO app (on top of MY ID) and it was hanging so I stayed with online usage as it is far more convenient for me. I will try and see if a workaround works.
        
        0
      - finbar on 10/08/2026 - 12:55
        
        @tenpercent: Android Rabobank don't offer biometrics so how can it be forced exactly lol?
        
        0
        
        tenpercent on 10/08/2026 - 13:06
        
        @finbar: My bad. I was thinking of Ubank. Biometrics for ID verification after having an account for over a decade.
        
        0
        
        finbar on 10/08/2026 - 13:30
        
        @tenpercent: So you're talking about a one time ID verification by ubank ? And they forced you to use biometrics ?
        
        0
        
        tenpercent on 10/08/2026 - 13:30
        
        @finbar: To keep my 10+ year old account open, yes.
        
        0
        
        finbar on 10/08/2026 - 13:37
        
        @tenpercent: They didn't offer any alternative to biometrics ? It had to be biometrics only ?
        
        The ubank website says that you can fill out a form for ID verification
        
        https://www.ubank.com.au/original-products/forms
        
        If you are unable to complete your identity verification digitally, please complete this form with certified copies of your ID and send
        
        0
- finbar on 06/08/2026 - 21:53
  
  Most people in Australia accept the way banks conduct themselves. There aren't enough people complaining for banks to care and change.
  
  All you can do is find the bank that is the best match for your needs.
  
  Either buy a cheap mobile for around $50 for your banking or pick banks that don't require a device.
  
  Here's an Android 15 device for $59 which can be used with WiFi
  
  https://www.vodafone.com.au/prepaid/mobile-phones/v-lite-3-4…
  
  0
  - Ave Maria on 06/08/2026 - 23:26
    
    We got new devices in November 2025 due to the 000 debacle. I was pissed off that they cut off the service on my perfectly functional (even for 000) Samsung A12.
    We probably have another 3 years before being forced to buy new ones again.
    
    You need a minimum of 64Gb internal storage (prefered 128Gb) & at least 4Gb RAM for the device to be functional (32GB/2GB RAM will not go far).
    
    Shopping on Vodafone Online I got the below, as I use 2 SIMS (Lebara & Vodafone) for $109 (now $119 on special).
    It has 2 SIM slots and a 3rd one for a memory card which is handy.
    
    Moto G06
    
    and this one for my partner (another SIM on Lebara) that is actually a pretty decent phone for $64. lt now it sells at $169
    
    V Pro 3
    
    I even managed to get a case for the V Pro 3 from Amazon (for an identical layout) that I only slightly adjusted the inner soft casing (did not need to cut into the leather) with a fine cutter to perfectly seat flat the camera lenses in the back. I posted pictures in an Amazon review -:). Otherwise there is no case sold for this model. I did quite a bit of searching & visual comparison to find this one.
    
    VodafoneVPro3 163.19 75.02 8.55 mm
    
    HMD Pulse Pro 163.19 75.02 8.55 mm
    
    In December Vodafone offered me a free replacement (due to the 000 issue), so now I got a spare V Pro 3 still in the box as a backup (also several new SIM cards with free prepaid credit that wil be wasted as you cannot add it onto your existing service.)
    
    0
    - finbar on 06/08/2026 - 23:37
      
      Cheap phones are unsuitable for everyday use. I wasn't suggesting that.
      
      Some people purchase a cheap phone to only use for banking apps. It just stays in a drawer and used when required. Sure it'll be slow but it'll satisfy the minimum Android version required.
      
      For some people it's a solution to their problem.
      
      1
Ave Maria on 04/10/2026 - 00:47

Bankwest increasing rates from 9 October - found announcement hidden somewhere via a Facebook link

https://www.bankwest.com.au/rates/rates-announcement#savings…

Savings accounts
2 October 2026
Interest rates will increase across a number of savings products, with the changes effective from 9 October 2026.

Changes include the Easy Saver account where, for balances up to $250,000.99, the variable introductory rate will increase by 0.25% p.a. to 6.00% p.a., and the ongoing standard variable rate will increase by 0.25% p.a. to 5.25% p.a.
- 5

Ave Maria on 06/10/2026 - 18:18

BOQ, ME Bank & Rabobank keep playing mind games with their savers.

Me Bank has the same current rate as Judo. The extra .05% from BOQ & Rabobank is not worth the hassle, especially with Rabo being a growth account.

I was hoping they announced a rate change by now, so I don't have to move money to Judo, but they do not deserve any hold & wait.

bluesky on 06/10/2026 - 18:36

They’re consistently the late announcers, so I’m kind of expecting it.

ING Booster will increase to 5.65% on 9/10, so for me, moving to Judo would only be an interim move for two days - hardly worth the bother.

The issue for me: BOQ, has no growth requirement, but ING Booster does - so I have to keep some funds in no growth accounts to fund the growth. If BOQ does increase the rate before the end of month, I can perhaps move it back.
- 1
- Ave Maria on 07/10/2026 - 00:52
  
  Yes, I never planned to move money out of ING -:) - In fact the 2 savings banks I am sticking with is ING (flexibility) & JUDO (reliability)
  
  Last time I decided to wait for BOQ & MEB was a lengthy mistake - so I am not repeating.
  
  I already moved everything out of ME Bank, and will start moving funds out of BOQ well after 1am as they do not observe Daylight savings (they do catch a lot fish that way between midnight and 1am).
  
  0

Red Rump Murt on 07/10/2026 - 22:48

Why do you favour ME over BOQ? They are essentially identical except BOQ has the higher rate by 5bp. I haven't used my ME account for many months now, I just dumped everything in BOQ instead. The 200K hard transfer limit at BOQ is a right PITA, but I suspect the same limit applies at ME too. What really shits me about ME is the ridiculous colour scheme they use for their online website where the text is light grey on a white background, making it virtually impossible for a human being to read anything on the screen in such a low contrast colour scheme display. It is basically impossible to use and very easily prone to sending money somewhere unintended because you can't read the BSS/Acc numbers. Virgin Money (red/white) and BOQ (blue/white) colour schemes are much more contrasting and easier to read websites, but ME (light grey/white) is terrible.

-2

Ave Maria on 08/10/2026 - 01:37

I do not recall saying that I favour BOQ over ME Bank. In fact I treat them exactly the same -:)

I like ME bank as it has a very high cap, so when I need to move money out of another account, that is the place to go.
Both BOQ & ME Bank allow a large amount to be transferred out (up to $200K a day) with zero hassles - my experience anyways.
I use the app for both as it make the SMS code transfer verification automated (no need for me to pick a code and enter it), very fast & smooth process.

I emptied my Me Bank savings (to Judo) Monday/Tuesday and BOQ Wednesday/Thursday. So same treatment for both - just different timing.

The "issue" I have with BOQ/MEB is their consistent zero consideration to savers, not letting us know what is coming & when is coming.

When their rates are raised, could be weeks from now, then I will move money back.

In the mean time I vote with my feet & walk out.

Red Rump Murt on 08/10/2026 - 16:09

I do not recall saying that I favour BOQ over ME Bank.

I guess I got that you favour ME over BOQ from this statement you made…

Me Bank has the same current rate as Judo. The extra .05% from BOQ & Rabobank is not worth the hassle

ME is identical to BOQ apart from the 5bp uplift in interest rate at BOQ. Why BOQ is not worth the effort for 5bp extra interest is curious to me when in all other respects that matter, BOQ is identical to MEB.

-1

Ave Maria on 08/10/2026 - 17:20

@Red Rump Murt: Let me explain why I do not consider growth or other hoops account maintenance worth while

Account	Max Deposit	0.05 % Yearly Gain over similar accounts	Effort required	Analysis
Rabobank Premium Saver	$250K	$125	Monthly scheduled $200 growth deposit plus periodic transfer out/back in once cap is reached	My monitoring time is worth more than $125 a year
ING Booster	$500K	$250	Monthly $100 growth deposit, playing musical chairs each month transferring money out/back in and when available cap is exhausted	Done a few times, but conclusion is that my time is worth more than $250 a year
BOQ Smart Saver	$250K	$125	Previous month: $1K deposit in/out, 5 card transactions, take excess interest out if full cap is utilised	Not bad, but my time is still worth more than $125 a year

Me Bank is preferred as it requires only a monthly $2K in/out deposit & has a high $1 Million cap .BOQ is not bad and I will keep using as long as rates are higher that the rest, but the other 2 (Premium/Booster) I will be drifting away from in due time as my priorities are shifting to less time consuming options - life is too short to spend it counting pennies.

Also the reason, why banks keep doing this (growth accounts) is that if you slip once during the year the entire annual extra gain is wiped out in a single slip. The stats & laws of slip averaging is on the banks side.

if all slippery paths can be avoided, then you are not likely to slip.

-1

Saving Accounts with No Growth/Zero Withdrawal Requirements (or with Work around)

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