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Pension Advantage delivers the ultimate in flexible everyday banking, giving you the freedom to bank how and when you want and the ability to minimise or avoid transaction fees altogether.

This account also enables you to earn a higher level of interest on your funds compared to other everyday accounts, while still providing you with at-call access.

1.50% (p.a.)
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One of Australia's largest ATM networks with more than 70 rediATMs in Tasmania and 3,000 nation-wide.

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We have 8 branches statewide and we're open 9.00am-5.00pm Monday to Friday, (Glenorchy open 8.45am-5.00pm).

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Convenient everyday access to your account giving you the ability to pay for goods and services and also withdraw cash.

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Internet Banking

Banking at your fingertips 24/7 - check account balances, pay bills, transfer funds and more.

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Mobile Banking

Banking anytime, anywhere on your mobile phone with all the functionality of internet banking to boot.

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Telephone Banking

Convenient 24/7 phone access to your account with the ability to check balances, transfer funds, pay bills and more.

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Am I eligible?

To be eligible for this account you must be the recipient of an Aged, Australian War Verterans or Disability Pension.

Freedom to bank how and when you want

  • Transact via our branches, EFTPOS, rediATM, internet, mobile and telephone banking.
  • No monthly account fees.
  • Chance to lower any transaction fees or avoid them altogether based on your Relationship Balance*.
  • Higher level of interest compared to our other everyday accounts^.
  • View your statements online 24/7 with eStatements.

Convenient access to transact

  • Select a Bank of us VISA Debit Card to access ATM and EFTPOS facilities, along with the ability to make online and over-the-phone purchases using the power of VISA (worldwide).
  • Cheque book option (fee applies) except if funds accessed with a passbook.

Say goodbye to transaction fees

Pension Advantage rewards you for banking at Bank of us by taking into account your Relationship Balance* – the higher your balance, the less fees you pay.

As the primary account holder, if you maintain a combined average monthly balance of more than $10,000 in qualifying Bank of us accounts (these include Pension Advantage, Save up and Term Investment accounts), you’ll automatically qualify for fee-free everyday banking.

Please refer to our 'Schedule of Fees and Charges' for further information.

Peace of mind

Our advanced fraud monitoring system covers all transaction channels and will pick up any unusual or suspicious debit and credit card transactions 24 hours a day, seven days a week.



The small, small print:

Please note this information does not take into account your personal circumstances and is general advice only. Before opening any Bank of us account, please read the Account & Access Facility Conditions of Use and our Schedule of Fees and Charges and decide if the account is right for you. Interest rates are subject to change without notice and should be verified with your local Bank of us branch.

* For information on how your Relationship Balance is calculated and the number of fee-free transactions based on that balance, please refer to Note 6 within our Schedule of Fees and Charges.

^ It is also important to note that the interest rate that is paid on this account is not the same as, or aligned to, the Australian Government Deeming Rate.


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Standard interest rates

Effective 1 November 2017

Account TypeInterest Rate

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