First Option Bank memberships include three accounts to help you manage your money, easily and effectively...


When you get paid, your money goes in here and you move what you expect your bills to cost over to your Bills account ... what's left in your Spend account is what you can afford to spend.



The place to put the money for your expected costs each month. Set-up direct debits from here, or use your Visa card or BPay to pay bills when they roll on in. Secure banking tools and real-time SMS alerts are included to help you keep track of all the ins and outs. 


At the end of the month move what's left in your other accounts across to your Savings+Bonus account (2% p.a. base interest) and if that's $100 or more plus you make no withdrawals for the month... then you automatically qualify for the 3% p.a. Bonus interest too! That means you can now earn 5.00% p.a. variable interest on your regular, at call, savings up to $250,000.  

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Earn 5.00% p.a. interest on your at-call savings!*

  • 2.00% p.a. variable interest is the base Savings rate up to $250,000
  • 3.00% p.a. +Bonus interest is earned when you deposit at least $100 in a month and make no withdrawals
  • Interest rates are ongoing, not just for a time-limited introduction
  • Includes First Option Bank membership with linked Spend and Bills accounts for better personal budgeting
  • A $5 monthly membership fee will not apply if your total account balances with us exceed $1,000 or you have a credit card or loan with us. Other exclusions apply, see below*
  • ‘At-call’ savings means your money is available to you instantly, if you need it
  • Interest is calculated daily (not on your minimum monthly balance) and paid to you monthly
  • Your savings are protected by the Australian Government’s Deposit Guarantee up to $250,000 per account holder with us. 

Your tools for better banking

A First Option membership automatically includes a suite of accounts and online banking tools to help you better manage your money. Our favourite financial guru, Dr Steve, explains how to use your linked bank accounts to better manage your money. Click the Better Banking video to watch … 

Terms & Conditions

*Terms, conditions, fees and charges may apply. Any advice or information provided in this message (or any of its attachments) does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. You should read and consider the ‘Account and Access Facility – Conditions of Use’ document and Financial Services Guide before deciding whether to acquire any product or service. Monthly membership fees are not charged to members with an account balance of $1,000, those with an active loan or credit card, those aged 21 and under and new members (for the first 3 months) or Business Members. Target Market Determination document available on request, contact [email protected] to request a copy.