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  3. Bank of Melbourne Complete Freedom
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Bank of Melbourne Complete Freedom

$40 Special offer

Last updated on June 20th, 2022

Bank of Melbourne Complete Freedom account offers $0 account-keeping fee and free ATM use in Australia and around the world at Global Alliance ATMs (other fees may apply). No minimum deposit each month.

Manage your money with ease using the mobile banking app. Eligible for Apple Pay, Google Pay, and Samsung Pay.

Get $40 when you apply online by 28th September 2022 and meet the deposit and spend requirements. New customers only. Exclusions, T&Cs apply.

Bank of Melbourne Complete Freedom

$40 Special offer

Last updated on June 20th, 2022

Bank of Melbourne Complete Freedom account offers $0 account-keeping fee and free ATM use in Australia and around the world at Global Alliance ATMs (other fees may apply). No minimum deposit each month.

Manage your money with ease using the mobile banking app. Eligible for Apple Pay, Google Pay, and Samsung Pay.

Get $40 when you apply online by 28th September 2022 and meet the deposit and spend requirements. New customers only. Exclusions, T&Cs apply.

Monthly Account Fee
$0
Debit Card Access
visa
ATM Withdrawal Fee
$0
at any major bank ATM in Australia
Interest Rate
0%

Key Features

  • No monthly account fee and minimum deposit.
  • Get $40 with a new Complete Freedom everyday bank account when you apply by 28th September 2022 and within 30 days of account opening deposit $500 and make 5 eligible debit card purchases
  • Fee-free ATM use in Australia and around the world at Global Alliance ATMs
  • $5.00 per overseas cash withdrawal (outside Global ATM Alliance)
  • Access to offers and benefits from popular brands with My Offers Hub
  • Contactless payments using Apple Pay, Google Pay and Samsung Pay
  • Fraud money back guarantee

Details

  • Product Name
    Bank of Melbourne Complete Freedom
  • Interest rate
    0%
  • Monthly fee
    $0
  • Minimum opening deposit
    $0
  • ATM access
    Yes
  • EFTPOS access
    Yes
  • Branch access
    Yes
  • Internet Banking
    Yes
  • Age restriction
    Yes
  • Joint applications
    Yes
  • Cheque book facility
    Yes
  • Debit card
    Yes
  • BPAY
    Yes
  • Giropost
  • Phone access
    Yes
  • Overseas transaction fees
    3.00%
Bank of Melbourne
Secure online application

Application Criteria

  • You must be 14 years or over to apply online.
  • If applying for a joint account, you'll need the other persons' details too.
  • Applying online only takes around 7 minutes.
  • Your new account will be setup immediately after you apply.

Details

  • Product Name
    Bank of Melbourne Complete Freedom
  • Interest rate
    0%
  • Monthly fee
    $0
  • Minimum opening deposit
    $0
  • ATM access
    Yes
  • EFTPOS access
    Yes
  • Branch access
    Yes
  • Internet Banking
    Yes
  • Age restriction
    Yes
  • Joint applications
    Yes
  • Cheque book facility
    Yes
  • Debit card
    Yes
  • BPAY
    Yes
  • Giropost
  • Phone access
    Yes
  • Overseas transaction fees
    3.00%

The Bank of Melbourne Complete Freedom Debit Card Review

With its accompanying Bank of Melbourne Complete Freedom Debit Card, the Bank of Melbourne Complete Freedom account allows you easy access to your funds wherever you are in the world, with no monthly fees to worry about – and no minimum monthly deposit. Apply before 28th September 2022, and you could also get your hands on $40 cashback as part of the bank’s intro offer (terms apply).

What’s great?

Tossing up whether the Bank of Melbourne Complete Freedom account is for you? Let’s take a look at why you may want to choose this account and its accompanying Visa Debit card, so you can decide whether or not it will work for you.

Pay No Monthly Fees

As of 2 June 2020, Bank of Melbourne scrapped the monthly account service fee on its Complete Freedom transaction accounts. That means, as a new accountholder, you will pay no monthly fees, saving you $5 per month – or $60 per year. Unlike certain other accounts that charge no monthly fees, you don’t need to make a minimum deposit each month to enjoy this no fee status.

Get Your Hands on $40 Cashback

Who doesn’t like free stuff? Well, if you open a Complete Freedom account with Bank of Melbourne by 28th September 2022, you can get your hands on $40 cashback to spend as you like. All you need to do to be eligible is deposit $500, then make five eligible debit card purchases within 30 days.

Bear in mind, if you currently have, or have held a Bank of Melbourne, St.George Bank or BankSA transaction account in the past, or if you have received this offer before, you will not be eligible for it now.

Access Your Money… Everywhere

So, you want to be able to use your own money when you pay? That’s one of the most appealing aspects of using a debit card. You know exactly where you stand, and you’re not paying out interest to access credit. With that in mind, you can use the Bank of Melbourne Complete Freedom Debit Card to pay online, over the phone, and in person, wherever Visa is accepted.

As for withdrawing cash, you can do so at any major bank’s ATM within Australia, while paying no ATM withdrawal fees. And, if you’re heading overseas, there are no ATM withdrawal fees to worry about when using ATMs within the Global Alliance network (although other fees may apply).

Enjoy Peace of Mind

Obviously, when it comes to paying for stuff with your own money, you want to make sure each transaction you make is secure. Providing you with some peace of mind on that score, Bank of Melbourne offers a fraud money back guarantee, meaning it will refund you any money taken from your account if you’re a victim of fraud.

Keep Track of Your Funds

Want to manage your money more effectively? Bank of Melbourne has you covered. As you would expect, its mobile app allows you to do all the standard stuff, including checking your transactions and transferring funds. But, it does offer some additional functionality as well.

  • With its Spend Tracker, all your transactions will be grouped into categories, helping you track your spending habits and budget better.
  • With its Card Lock feature, you can temporarily lock your card for up to 15 days should you misplace your card.
  • With Quick Balance, you can quickly and easily see how much money you have to play with, from a glance on your smartphone or smartwatch.
  • Using the Beem It app in conjunction with your Bank of Melbourne Complete Freedom Debit Card, you can pay or get paid by anyone, anytime, securely and in real time.

Pay With Apple Pay

If you’re looking for more functionality while shopping online and in person, you have the option to sync your card with Apple Pay. This allows you to leave your wallet at home, and pay with a tap of your device at the checkout, while also making your online shopping experience more streamlined.

What’s worth considering?

While there are no monthly fees or ATM withdrawal fees at major Australian banks and within the Global Alliance network overseas, there are other fees and costs to be aware of. Outwith that Global Alliance network, you will pay a $5 ATM withdrawal fee, plus a 3% foreign currency conversion fee on all transactions made in a foreign currency.

Other fees apply, such as overdrawn fees and dishonour fees. Check the small print before you apply, so you can avoid these fees whenever possible.

Why should you choose it?

If you want a transaction account with no monthly fees, the Bank of Melbourne Complete Freedom account is well worth looking into. You can use your own money with the Bank of Melbourne Complete Freedom Debit Card, while taking advantage of the numerous features on offer, and $40 cashback if you apply by 28th September 2022 and meet the offer’s terms.

What’s good

  • No monthly account service fee and minimum deposit
  • Get $40 when you apply by 28th September 2022, deposit $500, and make 5 eligible debit card purchases within 30 days of account opening
  • Free ATM withdrawals at major banks in Australia and worldwide via Global Alliance ATMs (other fees may apply)
  • Free eftpos, direct debit, Visa Debit transactions, Internet, mobile, and phone banking transactions
  • Free cheque, staff assisted (branch and telephone)
  • Monitor your money with Spend Tracker and balance alerts
  • Secure real time payments when you link your debit card to Beem It app

What’s not so good

  • $15 Overdrawn fee
  • $4 Periodical Payment - charged for automated transfer of funds made on a regular basis at your request from your account to another specific account. The fee is charged at the time the transaction occurs. Free to another Bank of Melbourne/St.George/BankSA account.

Apply for a Bank of Melbourne Complete Freedom now


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