The Australian Military Bank Military Rewards Account is an everyday account that gives you easy access to your money in different ways. If you meet a basic deposit criterion you don’t have to pay any account keeping fees. You stand to earn cash back when you use your Visa debit card to make payWave purchases. You, along with the bank, regularly contribute to a Defence related charity that you select.
Australian Military Bank Military Rewards Account
- Fee Free Deposit
- $2,000
- Account keeping fee
- $4
- ATM withdrawal fee
- $0
- Overseas ATM withdrawal fee
- $4.5
Our verdict
Do you want an everyday bank account that rewards you as well as the Defence community?
This is one of only a few transaction accounts that offer cashback on purchases. You can earn 1% cashback on tap and go purchases under $100, up to the value of $25 a month.
To get this cashback perk you need to deposit $2,000 per month. When you deposit $2,000 a month you’ll also get the $4 account keeping fee waived.
The cashback offer is a cool perk, but make sure you don’t fall into the trap of spending just to get the cashback.
Pros
-
Linked Visa debit card
-
24/7 access to funds through Internet Banking
-
1% cash back if you deposits $2,000 p/m (conditions apply)
Cons
-
Only eligible for members
Details
Key details
| Product Name | Australian Military Bank Military Rewards Account |
| Monthly account fee | $4 |
| Card access | Visa |
| Own network ATM fee | $0 |
| International ATM Fee | International ATM fee $4.50 |
| International transaction fee | 2.95% |
| Monthly deposit required to waive account fee | $2,000 |
| Contactless Payments | Apple Pay, Google Pay, Samsung Pay, Garmin Pay |
Eligibility
| Minimum Age | 18 |
| Joint account availability | No |
| Minimum opening deposit | N/A |
| Residency status | Permanent Australian residents with an Australian address |
Key features
You get 1% cash back on payWave purchases under $100
When you use your payWave enabled Visa debit card to make contactless payments of less than $100 you earn 1% cash back (capped at $25 per month), provided you deposit at least $2,000 in your account every month. The bank credits this cash back on a monthly basis.
Includes a linked Visa debit card
This account comes with a linked debit card that you can use at over 2.2 million locations worldwide, at ATMs and EFTPOS terminals alike. You can use your card to make unlimited withdrawals at rediATMs across Australia. You can also use your card details to make purchases and pay bills online and over the phone. This card does not attract any monthly or annual fees. You get to choose the card’s design.
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