---
title: "Pension Account — Bank First"
description: "Transaction & Savings Accounts from Bank First. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/bank-first/products/523398f7-b767-446a-b4f7-ee26025a82ba
source: "CDR Compare"
language: en-AU
last_updated: 2026-05-21T23:40:04.337639Z
---

# Pension Account — Bank First

> Transaction & Savings Accounts from Bank First. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare.

**Transaction & Savings Accounts · Bank First Production**

Pension Account

## At a glance

- **Base rate:** 3.4%

## Apply

Applications are handled by the provider: [Apply at Bank First](https://form.bankfirst.com.au/account-application)

## Deposit rates

| Type | Rate | Applies to | Interest paid |
| --- | --- | --- | --- |
| Variable | 3.4% | Pension Account_Tier_1 | every 3 months |
| Variable | 3.4% | Pension Account_Tier_3 | every 3 months |
| Variable | 3.4% | Pension Account_Tier_2 | every 3 months |

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| Coin Handling Fee — Handling of a coin deposit or withdrawal - $5 per every $100. | Event | $5.00 |
| Bank First Cheque Fee | Event | $5.00 |
| Account Keeping Fees — Charged monthly | Ongoing | $0.00 |
| Overdrawn Account Fee — Applies when your Transaction / Savings Account is overdrawn or the balance exceeds the limit of any Overdraft attached to the account at close of business and charged again at seven day increments if the balance remains overdrawn / limit exceeded. | Event | $15.00 |
| Direct Debit Dishonour Fee | Dishonour | $15.00 |
| Bank First Corporate Cheque Stop Payment | Event | $15.00 |
| Statement Request | Enquiry | $0.00 |
| Deposit Cheque Dishonour Fee | Event | $11.00 |
| Inactive Membership Fee — Charged yearly | Ongoing | $30.00 |
| Visa Debit Over The Counter Cash Advance | Withdrawal | $2.50 |
| Visa Debit Card Overseas Atm Withdrawals — The ATM operator may charge a fee at the time of the transaction | Withdrawal | $2.50 |
| Cheque Dishonour Fee | Dishonour | $17.50 |
| Replacement Card Fee — $12.00 Staff Assisted and $8 via Mobile Banking App | Replacement | $8.00 |
| Non- Individual Membership Establishment Fee — Applies when a Non-Individual membership is established | Upfront | $50.00 |
| Voucher Retrieval Fee For Cheque/Deposit — $5.00 per voucher | Event | $5.00 |
| Direct Entry Return Fee | Event | $2.50 |
| Express Posting Of Card Or Pin In Australia | Event | $15.00 |
| Emergency Overseas Replacement Card Fee — Discount −$150.00 — This Fee is waived for Platinum credit card holders (eligibility: Other: Fee is waived for Platinum credit card holders) | Replacement | $150.00 |
| Issue Card Or Pin Internationally By Registered Mail — $15 dollars per item | Event | $15.00 |
| Currency Conversion Fee — Discount −3% of transaction — This fee is waived for Premier/Rewards Package Home Loan customers (eligibility: Other: This fee is waived for Premier/Rewards Package Home Loan customers) | Transaction | 3% of transaction |

## Features

- **Other service related charges apply based on your circumstances**
- **Card access** — Visa Debit Card
- **Digital wallet** — Google Pay
- **Offset account**
- **Real-time payments (NPP)**
- **PayID**
- **Phone Banking is available**
- **Digital banking**
- **Digital wallet** — ApplePay
- **Bill payment (BPAY)**
- **Overdraft available**
- **Unlimited transactions** (For the following transactions are free: Purchases on Visa Debit Card by pressing    credit   ,  purchases over the phone or Internet, Purchases on Visa Debit Card by pressing    savings    or    cheque', Electronic payments - quoting a valid BSB and account number, Bpay transactions, NPP including Osko payments. PayID and Bank@Post withdrawals.)

## Eligibility

- **Pension recipients** — Available to customers in receipt of Government pension from Centrelink or the Department of Veterans' Affairs.  (Available to members only.)
- **Individuals only** (Only a recipient of government pension may apply for the product)

## More information from Bank First

- [Overview](https://www.bankfirst.com.au/bank-accounts/transaction-accounts/pension-account)
- [Terms & conditions](https://www.bankfirst.com.au/disclosure-documents)
- [Eligibility](https://www.bankfirst.com.au/-/media/bankfirst/pdfs/termsandconditions/tc_part_a.pdf?la=en&hash=1BD3E51F84EC9362648BB08285FA0082715FEDB6)
- [Fees & pricing](https://www.bankfirst.com.au/-/media/bankfirst/pdfs/termsandconditions/tc_part_b.pdf?la=en&hash=172D55D317D95FDB13F24CDFDE6D3B6B2E7C7F37)

## Data provenance

- Published by Bank First under the Consumer Data Right
- Product ID: `523398f7-b767-446a-b4f7-ee26025a82ba`
- Last updated by the provider: 21 May 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/bank-first/523398f7-b767-446a-b4f7-ee26025a82ba
- Provider page: https://www.cdrcompare.au/brands/bank-first
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000112

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/bank-first/products/523398f7-b767-446a-b4f7-ee26025a82ba) — product data published by Australian data holders under the Consumer Data Right. Not financial advice; no rankings, recommendations or affiliate relationships. Always confirm details with the provider.

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