Online Saver Account

Suitable for retail clients who:

need a transactional banking account to conveniently manage their funds and facilitate payments
Access by internet or our mobile banking app.

Earn 1.50 % pa

Product Features:

Savings Accounts Features
Annual Fee :	$0
Monthly Fee :	$0
Funds Available :	At Call
Auto Sweep Facility :	Yes
Overdraft :	No
Personal Cheque Facility :	No
Branch Access :	No
ATM/EFTPOS Access :	No
BPAY :	Yes
Direct Entry (Credit/Debit) :	Credit Only
Interest Calculation :	Calculated daily, paid monthly

Interest payable
Easy and convenient access by internet banking or our mobile banking app.
Cleared funds are available 24 hours a day 7 days a week
Regular payments can be set up via internet or our mobile banking app

Our mobile banking app and Internet banking services are available 24 hrs a day 7 days a week.
At account opening you must also have a Geelong Bank at call transaction account
A sweep authority must be signed to authorize funds from the On-Line Saver account to be automatically swept across to the Geelong Bank at call transaction account if this account becomes overdrawn
Deposits: Funds must be transferred into the On-Line Saver Account. No over the counter transactions (a one off deposit/transfer of funds can be conducted by staff at account opening)
Withdrawals: Funds must be accessed via transfer – internet or mobile only
Transfers: Funds must be accessed via transfer – internet or mobile only
BPAY: Is available by internet or our mobile banking app.

FAQs

Read our most frequently asked questions below or view all our FAQs.

Do I have to be a member to open an account?

Geelong Bank is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account.

What is the Financial Claims Scheme?

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

Online Saver Account