Pension Advantage Account
An account for members receiving a pension or allowance from Centrelink or Veteran Affairs.
- Base rate
- 3%
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable | 3% | Pension Advantage Account_Tier_1 | monthly |
| Variable | 3% | Pension Advantage Account_Tier_2 | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| INTERNATIONAL_CONVERSION_FEE 2.90% of transaction value in $AUD collected by Cuscal Limited - 0.90% paid to Us; 1.00% retained by Cuscal; 1.00% paid to Visa International. Payable when you transact in a foreign currency using your Visa card either online or at a merchant point of sale (irrespective of where the transaction occurs; performed not in Australian Dollar; or overseas merchants transact in a foreign currency.) | Transaction | 2.9% of transaction |
| ATM_WITHDRAWALS_OVERSEAS | Transaction | $4.50 |
| CASH_ADVANCES_FEE Visa Debit and Visa Credit card cash advances at other financial institutions in Australia and overseas. Individual bank branches may not offer this service and may charge additional fees (at cost). | Cash advance | $4.00 |
| TELE_TRANSFER Tele transfer within Australia to an account at another financial institution. | Event | $13.00 |
Features
- Card access — Visa Debit with payWave
- Unlimited transactions
- Digital wallet — Apple Pay
- Digital wallet — Google Pay
- Digital wallet — Samsung Pay
- Digital banking
- PayID
- Real-time payments (NPP)
Eligibility
- You must be a member. Membership is open to current or retired employees of the Australian education sector or family members of members (i.e. shareholders) of the Bank.
- Residency status — Individuals must be citizens or permanent residents of Australia.
- Individuals onlyYou must be receiving a pension or allowance from Centrelink or Veteran Affairs and the pension or allowance must be paid directly into the account.
More Information
Published by Australian Mutual Bank LTD under the Consumer Data Right · Last updated 13 July 2026 · Product ID 6f62dcb6-4521-11f1-97b8-325096b39f47 · View on CDR.gov.au