ME Bank is an online-only bank with no bank branches and no ATMs in Australia, but it does offer a few different ways to do your banking.
Bank@Post
If you need to deposit cash into your ME Bank account you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.
ME Bank Internet and mobile banking
You can use ME Bank's Internet banking platform or mobile app 24/7 to do all your day-to-day banking. You can track account balances, pay bills and other direct debits, make BPAY payments, transfer funds between accounts, activate new cards or place existing ones on hold and to schedule payments. You can use the Internet Banking platform to increase your daily transfer limit to a maximum of $20,000 if needed for one-off large purchases.
The ME Bank app allows you to do most of the same things as the Internet Banking platform, but with the added convenience of being able to access the app anywhere you are. ME Bank mobile app has a 2.3-star rating on the App Store and a 1.5-star rating on Google Play, which is lower than other major banking apps.
ME Bank contactless payment options
ME Bank offers Apple Pay, Google Pay, Samsung Pay and Garmin Pay to customers with a ME Bank debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items, instead of using your physical debit card.
Pros and cons of banking with ME Bank
Pros
No Australian ATM fees. ME will refund you any ATM withdrawal fees you pay in Australia.
Cons
No branches. ME Bank does not have branch banking, although it does have sales offices in Victoria, Queensland and South Australia.
Mobile app has low star ratings. The Me Bank app has a lower star rating in both the App Store and Google Play compared to many other banking apps.
How to apply for a ME Bank account online
You can apply for a new ME Bank account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
Eligibility
You're over 18 years old
You're an Australian resident for tax purposes
You have an Australian phone number and residential address
Documentation
Personal details like your name, date of birth, residential address, phone number and email address
ID documents such as your driver's licence, Medicare card, passport or proof-of-age card
Are you looking for another ME Bank product instead?
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio
Alison's expertise
Alison has written 626 Finder guides across topics including:
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Hi, I am interested in depositing funds for my super fund account. The website advised that as member of certain industry super funds collect a bonus interest.
However, when I rang ME, your representative says it is not available. Kindly confirm.
In addition, can I bank a cheque for ME account?
Finder
ClarizzaJuly 18, 2016Finder
Hi Pauline,
Thanks for your question. I have sent you an email in response.
Regards,
Clarizza
johnApril 28, 2016
is $250,000 the maximum allowed for a term deposit
BrianJuly 19, 2016
If I deposit $500,000 in joint names will the Government guarantee the full $500,000 ?
Finder
MayJuly 19, 2016Finder
Hi Brian,
Thanks for your question.
With ME, the maximum savings/deposit amount that is secured by the Australian Government Guarantee Scheme is up to $250,000 only. This also applies to per individual/joint account. So, for your $500,000 deposit, you’re secured up to $250,000 only.
Cheers,
May
Finder
ShirleyApril 29, 2016Finder
Hi John,
Thanks for your question.
You can open a term deposit for as little as $1,000 or as much as $1,000,000.
Deposits are covered by the Government Guarantee of up to $250,000 per person, per institution.
lillieFebruary 10, 2016
hi i want to open a term dep can l just do that or do l have to have a saving account
cheers Lillie
Finder
ShirleyFebruary 11, 2016Finder
Hi Lillie,
Thanks for your question.
You don’t need to have a savings account. You can open the term deposit on it’s own.
Hope this helps.
GrantFebruary 1, 2016
If I make a deposit in A$ will I be charged a fee for depositing money in to my ME DEbit Account.
Can I use this card when travelling in Aust, and will I be charged a withdrawal fee when taking money out of an ATM/
Can this card by used Overseas and is there a charge made by ME for overseas withdrawals from ATM’s please
Finder
ShirleyFebruary 1, 2016Finder
Hi Grant,
Thanks for your questions. Please note that the following responses are for the ME Everyday Transaction account.
No, you don’t be charged a fee for depositing money into your ME Debit account.
You can use this while traveling in Australia, though you need to be an Australian resident to be eligible for this account. You will receive a refund on fees incurred at all other ATMs in Australia within 30 days of the transaction.
This card can be used overseas, wherever MasterCard is accepted. International ATM withdrawals incur a $4 fee and a currency conversion fee of 2.50% of AUD value.
Please ensure to read through the relevant product disclosure statement and terms and conditions of the card to ensure that you got everything covered on your banking transactions.
Hope this helps.
Cheers,
Shirley
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Hi, I am interested in depositing funds for my super fund account. The website advised that as member of certain industry super funds collect a bonus interest.
However, when I rang ME, your representative says it is not available. Kindly confirm.
In addition, can I bank a cheque for ME account?
Hi Pauline,
Thanks for your question. I have sent you an email in response.
Regards,
Clarizza
is $250,000 the maximum allowed for a term deposit
If I deposit $500,000 in joint names will the Government guarantee the full $500,000 ?
Hi Brian,
Thanks for your question.
With ME, the maximum savings/deposit amount that is secured by the Australian Government Guarantee Scheme is up to $250,000 only. This also applies to per individual/joint account. So, for your $500,000 deposit, you’re secured up to $250,000 only.
Cheers,
May
Hi John,
Thanks for your question.
You can open a term deposit for as little as $1,000 or as much as $1,000,000.
Deposits are covered by the Government Guarantee of up to $250,000 per person, per institution.
hi i want to open a term dep can l just do that or do l have to have a saving account
cheers Lillie
Hi Lillie,
Thanks for your question.
You don’t need to have a savings account. You can open the term deposit on it’s own.
Hope this helps.
If I make a deposit in A$ will I be charged a fee for depositing money in to my ME DEbit Account.
Can I use this card when travelling in Aust, and will I be charged a withdrawal fee when taking money out of an ATM/
Can this card by used Overseas and is there a charge made by ME for overseas withdrawals from ATM’s please
Hi Grant,
Thanks for your questions. Please note that the following responses are for the ME Everyday Transaction account.
No, you don’t be charged a fee for depositing money into your ME Debit account.
You can use this while traveling in Australia, though you need to be an Australian resident to be eligible for this account. You will receive a refund on fees incurred at all other ATMs in Australia within 30 days of the transaction.
This card can be used overseas, wherever MasterCard is accepted. International ATM withdrawals incur a $4 fee and a currency conversion fee of 2.50% of AUD value.
If you intend to travel outside of Australia you may want to consider a travel debit card instead.
Please ensure to read through the relevant product disclosure statement and terms and conditions of the card to ensure that you got everything covered on your banking transactions.
Hope this helps.
Cheers,
Shirley