Key features and benefits

Our Pension Advantage account is an everyday banking account that when linked with our Visa debit card, provides you with all the access options and features you'll need... 

    • Retail stores and Contact Centre access
    • Visa debit card
    • ATM and Eftpos access
    • Internet Banking
    • SmartBanking App
    • BPAY payments
    • OSKO payments
    • Digital Wallet with Apply Pay and Google Pay
    • Direct debits and credits
    • Periodical payments


    • No minimum deposit
    • Funds available at call
    • Tiered interest rate payable, based on the account balance

    Connect your Pension Advantage account with a Eco Visa Debit card

    Made from 90% plant materials

    eco visa debit card

    Transaction fees that may apply

    You'll receive fee-free transaction levels each month based on your 'Relationship balance' with balances of $10,000 or more providing you with transaction fee-free banking. Check out the table below for details.

    The following sets out your fee-free transaction levels per calendar month.

    Relationship balance*
    Staff assisted
    Self Service

    $10,000 and aboveUnlimitedUnlimitedUnlimited
    $5,000 - $9,999.9941212
    $500 - $4,999.99310
    $0 - $499.99

    The following staff-assisted, Eftpos and Internet banking transaction fees only apply if you exceed the number of fee free transactions available each month based on your 'Relationship balance' as per the above,

      • $2.50 - Staff-assisted transaction
      • $0.75 - Eftpos transactions
      • $0.25 - Internet Banking transactions

      A $5.00 Bank@Post withdrawal fee will apply if a withdrawal is made from the account at an Australia Post Office displaying the Bank@Post symbol.

      Other fees may apply to use of the Pension Advantage account in certain circumstances. For the full details and for information on how we calculate your 'Relationship balance', please refer to the Fees and Charges Schedule. 

      Credit interest

      We will pay you credit interest on the money held in your account for balances greater than $2,000. The rate of interest that applies depends on the account balance and the interest rate relevant to that account balance. The current rates are set out below.

      Account balance
      Interest rate
      $1-$1,9990.00% p.a.
      $2,000-$39,3991.30% p.a.
      $39,400+1.80% p.a.

      I'm interested in a Pension Advantage account!

      Other options or things to consider

      If you are a pensioner who is looking for a transaction account and you are unlikely to have a 'Relationship balance' that provides you with sufficient fee-free transactions per month, then our Go to account might suit you better. For example, if you had your benefit credited to the Go to account and that resulted in an amount greater than $1,000 each month, then you would receive transaction fee-free banking.

      Alternatively, you may be a pensioner or retiree who is trying to maximise the interest received on your money. If that is the case then one of our at-call savings accounts e.g. Stash n Splash, or if you don't require your funds to be at call for a period of time, then a Term Deposit, might be the best option for you. If you have any questions about what account is right for you, please contact us before applying so we can help.

      Please note this information does not take into account your personal circumstances and is general advice only and is not intended to address all the terms and conditions that may be relevant to the use of an account. Before opening any Bank of us account, please read the Account & Access Facility Conditions of Use, Summary of Accounts, Availability of Access Facilities and Transaction Limits 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 can be verified at