BANK OF MELBOURNE SENSE
Bank of Melbourne SENSE (Savings Account)
        
Make sense of your spending - One account for everyday banking. Another for saving. All on the one statement.Bank of Melbourne SENSE is two accounts working together, so you can access your money when you want, and save at the same time. You’ll pay no account service fees when you deposit at least $2,000 a month, such as your salary, into your SENSE Everyday account. Please make sure that you read all of their terms and conditions in detail before you apply so that you thoroughly understand what you are purchasing.
Location: Australia
Account Name: Bank of Melbourne SENSE
Advantages:
1. Make sense of your spending - One account for everyday banking. Another for saving. All on the one statement.
2. See where you're spending your money and what you're saving - One easy-to-read statement, complete with helpful colour spending charts, groups your everyday transactions into ten pre-determined expense categories
3. Turn your shopping into saving. Purchases made using your Visa Debit Card are rounded up to the next dollar. This rounded amount is automatically transferred to your SENSE Savings account. It’s just like a virtual coin jar, with no monthly service fee and a high interest rate.
4. Applying online is simple! It will take up to 10 minutes - All you will need to supply is your contact details, such as address, phone number and an email address. You don’t have to be an existing Bank of Melbourne customer to complete an online application.
Disadvantages:
1. If you deposit less then $2000 a month in to your SENSE account then you will have to pay a monthly account fee of $5
2. You are not eligible for a SENSE account if you are not a permanent resident of Australia
Services:
1. Flexible - 2 linked accounts – SENSE Everyday transaction account and SENSE Savings
2. Great rate - Earn 335% p.a. on SENSE Savings
3. Track savings and spending - One easy statement to set savings goals and track spending history
4. Visa Debit Card -Shop securely with a Visa Debit card at home, online or overseas using money from your SENSE account
5. Convenient access -24/7 access at over 2950 Bank of Melbourne, Westpac, StGeorge and BankSA ATMs and via Phone and Internet Banking
6. Compare accounts - Compare transaction accounts and Compare savings accounts

Interest AER: 3.10% p.a. on SENSE SavingsInterest Gross: 3.10%
Interest Paid: MonthlyMinimum Income: $2000 per month if you want account for free
Overdraft Rate: Available
Banking Charges: Periodical payment - $4
Service Charges: $0 ($5 if min monthly deposit <$2000)
Account Access: Online, branch, SMS
Withdrawal Access: ask on application

Free Banking: YesDebit Card: Yes
Cheque Guarantee Card: NoStanding Orders: Yes
Direct Debits: YesOverdraft Facility: Yes
Account Manager: No

Conditions:
You must be a permanent Australian resident
Features:
1. Each time we process a purchase made from your SENSE Everyday Account using your Visa Debit Card, FreedomCard, Maestro/Cirrus ATM Card or BPAY® transaction, and that amount is not a whole dollar amount, we round up the transaction amount to the next dollar and transfer the amount of the rounding to your SENSE Savings Account.
2. Your savings target is set for funds in your SENSE Savings Account. You will contribute to your savings target automatically by rounding amounts. To save even faster, you can also set up a regular transfer from your SENSE Everyday Account to your SENSE Savings Account.
3. Electronic transactions are assigned to a category based on information provided by third parties. We’ve assigned 10 expense categories: Cash, Home Expenses, Daily Living, Health & Education, Transportation, Leisure, Insurance & Super, Transfers, Other.
Terms and Conditions:
Who can apply for Bank of Melbourne SENSE:
1. You must be a permanent Australian resident.
2. If you are less than 18 years old and are a full time student, please contact us on 13 22 66 or visit any branch, we may have some alternate products that will better suit your needs.
3. Either Single or Joint personal customers may apply.
        
REVIEWS
Bank of Melbourne SENSE (Which Way To Pay - 16/2/2012)
Bank of Melbourne SENSE is ranked 5 out of 5. Based on 1 review.

5 Star Rating

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Bank of Melbourne SENSE
Bank of Melbourne SENSE