A special savings account with big interest for small people This dedicated high-interest savings account is just for kids, designed to help them save up for something they want. New under-18 memberships will get a kids’ moneybox to help them keep coins to deposit into their new accounts.* Deposit a minimum of $5 per month (that’s pocket money!) without making a withdrawal and earn bonus interest up to 5.55% p.a. on balances up to $5,555.  Kids’ Bonus Saver accounts can …

Environmental RewardsWe believe as strongly as many of you do that change can be led by businesses when governments act too slowly and we love working with like-minded organisations who just do good work without making a big fuss… so we set-up this program in the same spirit. The model is super simple: when you spend money using your First Option Low-Rate Visa credit card you contribute directly to funding positive change programs that our partners run. We keep a track of …

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 …

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% …

Inbound Global Transfer (IGT) An Inbound Global Transfer (also known as an Inward Telegraphic Transfer or Inward Wire) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases an IGT is the quickest way to receive funds from abroad (an IGT will normally take two-to-three business days to be credited to your account, although this can never be guaranteed). How does an IGT work?The remitter should send the funds in their own …

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 …

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 …

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 …