Concession Account
A basic, low-cost account for individuals who hold a Concession or Health Care card, receive an Australian Government benefit payment that makes you eligible to hold a card, or are a low or no income earner.
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Penalty The Unarranged Lending Rate (ULR) is a debit interest rate charged to a transaction account if it becomes overdrawn without arrangement. It will be calculated daily on the debit balance (and deducted on the last business day of each month) using the then current ULR until the account balance is positive again. | 0% | — | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Account Keeping Fee Charged monthly | Ongoing | $0.00 |
| Overseas Withdrawal Fee The fee is Nil ($0) for cash withdrawals from Global ATM Alliance and Westpac Group partner ATMs. To find an overseas ATM visit the link below | Withdrawal | $5.00 |
| Foreign Currency Conversion Fee Foreign currency conversion fee for transactions made in foreign currency, and the merchant or financial institution accepting the card is located outside Australia | Transaction | 3% of transaction |
| Periodical Payment | Payment | $0.00 |
| Overdrawn Fee | Event | $0.00 |
| Cash withdrawals Fee | Withdrawal | $0.00 |
| Frequent Statement | Event | $0.00 |
Features
- Fraud Money Back Guarantee: Customers may be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted us promptly
- Digital banking
- Card Lock: Customers can temporarily lock their debit card associated with the bank account, using the mobile banking app if they lose or misplace their card, for up to 15 days
- Digital banking
- A digital version of your credit or debit card, available in the Bank of Melbourne App. Once you've received and activated your physical card, set up your Digital Wallet and start making payments on the go.
- Digital banking
- Spend Tracker groups your transactions into categories to give you helpful insights on your spending habits
- Digital banking
- Quick balance: Customers can see available balances in their accounts at a glance on your smartphone or watch
- Notifications — Keep track of your account activity (balances, deposits and withdrawals). Turn on Transaction Notifications via Online or Mobile Banking to receive updates on when you spend and receive money into your transaction account. Choose from receiving updates via SMS, Email or Mobile Notification.
Eligibility
- The Concession account is available to individuals who hold a Concession or Health Care card holder, receive an Australian Government benefit payment or be a low or no income earner.
- Residency status — Those with an Australian residential address and who are currently in Australia.
- The card must be linked to an eligible Bank of Melbourne account
More Information
Published by Bank of Melbourne under the Consumer Data Right · Last updated 10 June 2026 · Product ID BOMTrConcession · View on CDR.gov.au · View Source Data (JSON)