First Option Bank memberships include three accounts to help you manage your money, easily and effectively…SpendWhen 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.BillsThe 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 …
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Spring clean your online life
Here are some suggestions for improving your online security protection through some simple steps which shouldn’t take long or cost much money. Keep your device software up-to-date Cybercriminals, malicious software and computer viruses are always looking for ways into your devices. One of the most common ways they do this is through exploiting weakness in software—also known as vulnerabilities. Much like a thief attempting to break into a home, cybercriminals will always look for the easiest way in. When your …
Read MoreInterest rates – deposits – December 23
Deposit AccountsCurrent at 1 December, 2023Interest Rates Essentials account packageNote: These accounts are not available for Business memberships.Spend account (S1) Direct your pay into this account for your everyday banking Interest rate from $1 ………. 0.10% p.a. Bills account (S4) Budget for your bills and plan payments from this account Interest rate from $1 ………. 1.00% p.a. Savings+Bonus account (S19) Interest rate on balances from $1 – $249,999 Savings ………. 2.00% p.a. +Bonus* ………. 3.00% p.a. Total interest earned ………. 5.00% …
Read MoreThe Interesting History and Future of Plastic
The first man-made plastic was created by Alexander Parkes and demonstrated at the 1862 Great International Exhibition in London. This new material, ‘nitrocellulose’, was organic (plant-based) rather than synthetic (oil-based). It could be moulded into a shape when heated but retained this shape when cooled. Unfortunately, it was also highly flammable. In fact an early use for nitrocellulose was as a substitute called guncotton to using expensive gunpower. The Parkesine company was formed to mass-produce nitrocellulose but it failed when …
Read MoreOur Board of Directors
Our Board of DirectorsGraeme Yeo (BBus. CPA) is the Chair and non-executive director of First Option Bank. Graeme has extensive senior executive experience in finance, corporate strategy and banking at large private and public institutions and has participated in the running of community not-for-profit organisations. He was a director of TABNSW Credit Union for over 25 years. Graeme’s interests include travel, most sports, community activities and family.Annette Mathews holds a Bachelor of Applied Science from the University of Technology in …
Read MoreAbout First Option Bank
Why we’re differentFully-owned by our members, we reinvest our earnings into higher interest rates for savings, lower interest rates for loans, into developing our technology and supporting our people. Our people are a family and their commitment is to help your family do their banking simply and successfully.Our values Service and Integrity: we’re here for you and you can trust usRespect: We appreciate everybody’s similarities… and their differencesMemorable: The next time you need something, you’ll automatically think of us Reliable: You …
Read MoreSavings+Bonus – Finder
Better banking tools to manage your moneySpendWhen you get paid your money goes in here and you move what you expect your bills to cost into your Bills account … what’s still in your Spend account is what you can can spend.BillsThe place to put the money for your expected costs each month. Set-up direct debits (or PayTos) from here or use BPay to pay the bills when they roll on in. Secure banking tools and automatic alerts are included to …
Read MoreYour Business Banking
Your Business BankingBank accounts and money-management tools specially for small Businesses, just like Yours!Managing cash can be tricky: getting the best balance between accessibility and a good return, paying the right suppliers the right amount at the right time and making sure your own people get paid, painlessly. Your Business Banking provides a set of tools to manage your business’ money efficiently and effectively. The Business Cash Hub is the transactional hub of the suite, providing financial functionality with the …
Read MoreThe High Life
This overnight Spring hike through Victoria’s alpine region finishes with a glass of Tempranillo and slow cooked Moroccan lamb. The sky is darkly bruised, the breeze stiff. Without a guide, we forge along a faint track on the roof of Victoria in Australia’s southern alpine region, completely encased by mountains. The two-way radio strapped to my pack crackles briefly and, aside from the odd marker pole reassuring us we’re on track, there’s no sign of civilisation. I think to myself, …
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