---
title: "Spend Account — First Option Bank"
description: "Transaction & Savings Accounts from First Option Bank. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/first-option-bank/products/PAY_ACCOUNT
source: "CDR Compare"
language: en-AU
last_updated: 2026-08-18T16:26:08.000+10:00
---

# Spend Account — First Option Bank

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

**Transaction & Savings Accounts · FIRST OPTION BANK**

Spend Account

## At a glance

- **Base rate:** 0.05%

## Apply

Applications are handled by the provider: [Apply at First Option Bank](https://firstoptionbank.com.au/online-forms/)

## Interest rates

| Type | Rate | Comparison | Applies to |
| --- | --- | --- | --- |
| Variable (Existing customers only · New customers only) | 0% | — | Spend Account_Tier_1 |
| Variable (Existing customers only · New customers only) | 13.99% | — | Spend Account_Tier_2 |

## Deposit rates

| Type | Rate | Applies to | Interest paid |
| --- | --- | --- | --- |
| Variable (Existing customers only · New customers only) | 0.05% | — | monthly |

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| EFTPOS_FEE — Discount −$0.50 — EFTPOS Transaction Exemptions (eligibility: Maximum age: 21; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $25,000 across all your accounts) | Transaction | $0.50 |
| MEMBERSHIP_ADMIN_FEE — Charged monthly · Discount −$5.00 — Membership Admin Fee (eligibility: Maximum age: 21; Introductory period: P3M; Other: If you have a credit card at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $1,000 across all your accounts) | Ongoing | $5.00 |
| PAPER_STAT_FEE — Charged monthly · Discount −$2.50 — Paper Statement Fee (eligibility: Maximum age: 21; Minimum age: 65; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $25,000 across all your accounts) | Ongoing | $2.50 |
| BANK@POST_WDL — Discount −$3.00 — Bank@Post withdrawal (eligibility: Maximum age: 21; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance > $25,000 across all your accounts) | Transaction | $3.00 |
| OVERSEAS_ATM_WDL — Discount −$3.50 — Overseas ATM withdrawal (eligibility: Maximum age: 21; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $25,000 across all your accounts) | Transaction | $3.50 |
| CARDREPLACEMENT | Event | $7.50 |
| CHARGEBACK_DISPUTE | Event | $30.00 |
| OVERSEAS_ATM_WDL — Discount −$3.50 — Overseas ATM withdrawal (eligibility: Maximum age: 21; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $25,000 across all your accounts) | Transaction | $3.50 |
| PAPER_STAT_FEE — Charged monthly · Discount −$2.50 — Paper Statement Fee (eligibility: Maximum age: 21; Minimum age: 65; Introductory period: P3M; Other: If you have a mortgage at First Option you will not be charged this fee; Other: Maintain an aggregate balance over $25,000 across all your accounts) | Ongoing | $2.50 |
| VISACOPYTRANVOUCHER | Event | $30.00 |
| VISAEMERGCANCELDENIED | Event | $50.00 |
| VISAEMERGOVERSEAS | Event | $175.00 |
| VISAOVERSEASCONV | Transaction | 2% of transaction |

## Features

- **Card access** (Visa Card)
- **Unlimited transactions**
- **Digital wallet** (Google, Apple Pay, Samsung Pay)
- **Digital banking**
- **PayID**
- **Real-time payments (NPP)**
- **Overdraft available**
- **Notifications** (Email, SMS)

## Eligibility

- **Individuals only**
- **Residency status** (Australian Residents)

## Bundles

- **ESSENTIALS** — Essentials - the account structure that works (Our Pay, Bills and Save structure encourages disciplined money management)

## More information from First Option Bank

- [Overview](https://firstoptionbank.com.au/accounts/)
- [Terms & conditions](https://firstoptionbank.com.au/disclosure-statements/)
- [Eligibility](https://firstoptionbank.com.au/disclosure-statements/)
- [Fees & pricing](https://firstoptionbank.com.au/disclosure-statements/)
- [Bundle information](https://firstoptionbank.com.au/disclosure-statements/)

## Data provenance

- Published by First Option Bank under the Consumer Data Right
- Product ID: `PAY_ACCOUNT`
- Last updated by the provider: 18 August 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/first-option-bank/PAY_ACCOUNT
- Provider page: https://www.cdrcompare.au/brands/first-option-bank
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000042

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/first-option-bank/products/PAY_ACCOUNT) — 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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