Safeguard Transaction Account
Safeguard is a special purpose savings account to help you avoid penalty charges such as overdrawn service fees and dishonour fees. Your funds are at call and earn daily interest.
- Base rate
- 0.01%
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable Balance $50,001 or more | 0.01% | Tier 4 | every 6 months |
| Variable Balance $500 to $20,000 | 0.01% | Tier 2 | every 6 months |
| Variable Balance $0 to $499 | 0% | Tier 1 | every 6 months |
| Variable Balance $20,001 to $50,000 | 0.01% | Tier 3 | every 6 months |
Fees
| Fee | Type | Amount |
|---|---|---|
| Bank@Post Cash Withdrawal fee Charged daily · Per transaction | Ongoing | $2.00 |
| Direct Debit Dishonour Fee Direct Debit Dishonour Fee per transaction | Dishonour | $9.00 |
| Counter Cash withdrawal $25,000 and over Per cash withdrawal $25,000 or over | Withdrawal | $50.00 |
| Coin Handling Fee Fee can also be 2 % of the amount whichever is the greater. Payable whenever coins deposited in a single month reach an accumulated value in excess of $100 | Event | $12.00 |
| Dormant Accounts fee After 3 years an account is classed as dormant if no Member transactions occur. Interest, fees and government charges are not classed as transactions. | Event | $10.00 |
| Additional Statement Fee 1.50 per page | Event | $5.00 |
| Third Party Costs At Cost |
Features
- PayID
- Email Address. Select the Contact Method that you would like to use for your PayID i.e. your mobile number or email address.
- Free transactions — 4
- All Members receive 4 RediATM transactions and are therefore charged 1.37 per transaction. 4 without Reduced Fees Program
- Direct Debits. Set up Direct Debits from this account
- Periodical Payments. Account allows Periodical Payments via Cheque and can also make External Periodical Payments
- Digital wallet — Apple Pay
- Pay with your Police Bank Visa Debit Cards using Apple Pay
- Digital banking
- Phone Banking. You can pay bills via BPAY and check your account details or make transfers anytime or anywhere online with Internet Banking – the service is free.
Eligibility
- Residency status — Australian Citizens
- Individuals onlyIndividual
- Residency status — Australian Residents
More Information
Published by Police Bank under the Consumer Data Right · Last updated 21 May 2026 · Product ID 4198e705-fe5c-4253-a666-6e19e97ee0da · View on CDR.gov.au