interestME savings account FAQs.

What’s the current variable interest rate for the InterestME Account?

Type Interest Rate
$0 - $3,000 (Tier 1) 0.05% p.a.
Over $3,000 (Tier 2) 0.50% p.a.

What’s the BSB number for my InterestME Account?

Your BSB number is 944 300.

How do I deposit into my InterestME Savings Account?

There are a number of ways you can make deposits:

1. Salary Payments

The easiest way is to have your salary/income credited directly to your account. You will need to advise your Payroll department of your new account details.

2. Online Banking

Use ME Online Banking to transfer funds from an existing account.

3. Deposit cash or cheques

You can do this at any Australia Post office displaying the Bank@Post™ symbol. All transactions made at Bank@Post require your card and PIN. Cheques must be made payable to either the cardholder depositing the cheque or to ME. Please write your account number on the back of the cheque so it is banked into the correct account.

If you are a Joint Account holder, please note that cheques made payable to joint names cannot be accepted at Bank@Post. If you receive these types of cheques and would like to deposit the funds, please send to us at:

Transaction Banking
ME Bank
GPO Box 1345
Melbourne VIC 3001

Once you deposit a cheque, funds can be withdrawn as soon as the cheque has been cleared by the financial institution it was drawn from. Generally this takes 3-5 business days.

4. Regular Automatic Payments

Set up a regular automatic electronic deposit from another account into your InterestME Savings Account. Simply download and complete the Direct Debit Form and return it by fax or mail to:

Transaction Banking
ME Bank
GPO Box 1345
Melbourne VIC 3001

5. Other payments

If you receive regular payments such as dividends or rent, you can arrange to have them credited into your InterestME Savings Account.


How do I withdraw from my InterestME Savings Account?

There are a number of ways you can withdraw money from your InterestME Savings Account:

1. ATM
Use your debit card 24/7 to withdraw cash or check your account balance at any ATM in Australia. Please choose 'SAV' (Savings) on the ATM terminal.

For security reasons, your card will be blocked if the PIN is entered incorrectly three times. If this happens, please contact us. We can unblock your PIN for you.

Your debit card can be used at any retailer displaying the EFTPOS symbol. This enables you to pay for goods and services using your debit card instead of cash. Many retailers also provide a cash withdrawal service when you purchase.

Just like withdrawing cash at an ATM, you can choose from 'SAV' (Savings) from the terminal.

3. Bank@Post™
You can also withdraw cash using your card and PIN at any Bank@Post outlet.

Please note that a $2,000 daily limit applies to withdrawals made using a debit card. Also, retailers and other financial institutions may impose additional restrictions or transaction limits.

4. Online Banking
You can use ME Online Banking to transfer funds from your InterestME Savings Account to other selected ME accounts or third party accounts (held at any Australian Financial Institution). An initial limit of $2,000 applies per customer per day, but can be increased to $5,000 or $10,000.

You can use BPAY via Online Banking to pay your bills from your InterestME Savings Account. BPAY is registered to BPAY Pty Ltd ABN 67 079 137 518.

6. Personal Cheque
You can write a cheque if you have an optional cheque book. If you would like to set one up, please call us to arrange this. Please note, cheque books cannot be issued to a person under the age of 18 years.

7. Bank Cheque
If you need a bank cheque, all you need to do is ask. There’s no need to go anywhere: just call us, and we’ll draw up a cheque and express post it to you. If it’s an emergency, let us know – in most areas, for an additional fee we can send it out by courier.

A bank cheque fee applies, see our deposit accounts fees and charges guide.

How can I avoid paying ATM Operator Fees?

These tips can help you avoid paying ATM Operator Fees:

  • Withdraw cash or check your account balance at the following ATMs: ME, Westpac, St.George or BankSA (except at BP petrol stations). There are over 3,000 ATMs to choose from nationally.

  • Take out extra cash when using EFTPOS to make your purchases. These transactions are excluded from the ATM operator fee, and you get 15 free EFTPOS transactions each month.

  • Transfer money, pay bills and check your account balance using ME's fee free internet banking service.

How can I feel more secure about writing cheques?

To minimise the risk of fraud or forgery on any cheque:

  • always write the amount of the cheque in words as well as in figures, because words are harder to alter;
  • always sign your name or initials beside any alteration that you make on a cheque that you have written;
  • write the cheque amount in words as close as possible to the left-hand side;
  • write the cheque amount in figures as close as possible to the dollar sign;
  • do not leave gaps between words or figures;
  • never write on a cheque in pencil or in an ink that can be erased;
  • never sign a cheque before it is used or filled out;
  • never make cheques out to cash.


How do I stop a cheque?

After you have written a cheque, circumstances may change and you wish to stop payment. If so, please advise us of this quickly. It is not possible to stop a cheque once it has been cleared.
To do this, call us with:

  • your account number;
  • cheque number;
  • cheque amount;
  • date of the cheque; and
  • the name of the payee.

We may ask you to confirm these instructions in writing to us. We suggest you seek legal advice before you stop a cheque. If you wrongfully stop a cheque, the payee may have a claim against you.


Why can a cheque be dishonoured?

There are a number of reasons why a cheque you write or deposit may be dishonoured. These include:

  • insufficient available funds in the drawer's account to cover the cheque;
  • the cheque is not signed, the signature is not valid or more than one signature is required;
  • the cheque is presented more than 15 months after it was written;
  • the cheque is post-dated (this means the cheque is presented for payment before the date that is written on it);
  • information on the cheque has been materially altered without the alterations being properly signed or initialled by the person who wrote the cheque;
  • the cheque has been stopped; or
  • the paying bank has been notified of the mental incapacity, bankruptcy or death of the person who wrote the cheque.

Can I apply for a new InterestME savings account?

The InterestME Savings Account is no longer available. It is currently enjoying retirement on a beach somewhere, sipping pina coladas and soaking up the rays. If you're looking for a savings account that's fee-free and pulls its weight on the interest front, check out our Online Savings Account . For a transaction account, visit our Everyday Transaction Account