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$50 Cash Bonus with No Monthly Fee EveryDay Account from ME Bank

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$50 Cash Bonus with No Monthly Fee EveryDay Account from ME Bank
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Bargain4U on 09/10/2013 - 12:16 mebank.com.au (3357 clicks)
Last edited 09/10/2013 - 22:48

Open a ME Bank EveryDay Transaction Account by Monday, 9 December 2013 to be eligible to receive a $50 cash bonus. Just ensure you make three purchases of $10 or more per transaction using your Debit Card within the first 30 days of the account being opened. Plus you'll also pay no Monthly account-keeping fees!

Account Features

  • No account-keeping fees
  • CANSTAR Five Star rating for outstanding value bank account
  • Free ATM access at more than 3,000 ATMs across Australia including ME Bank, Westpac, St.George, Bank of Melbourne and BankSA ATMs
  • Free EFTPOS transactions
  • Unlimited BPAY® and PayAnyone transactions
  • Unlimited direct debits and credits
  • Choice of card colour - Lime, Metallic or Pink (supporting the National Breast Cancer Foundation)

Questions? ME Bank EveryDay Transaction Account FAQs or call ME Bank on 13 15 63 (Option 3, then 1).

About ME Bank
ME Bank is a 100% Australian owned, APRA regulated Bank. Established by industry super funds - the same people who brought you low cost, no commission super. We were proudly built to provide a genuine banking alternative - a fairer way to bank.

ME Bank's products are straightforward, easy-to-understand and transparent. You know what you're getting and that you can trust us. Because there are no hidden costs and no bank jargon. In fact, we've kept our standard variable rate home loan for industry super fund and union members below that of the 'big four' banks for every month, of every year, since we became a bank in 2001.

Offer Terms and Conditions
Available to customers who open an EveryDay Transaction Account (ETA) between 16/09/13 and 09/12/13. Customers who already hold an ETA on or prior to 15/09/13 are not eligible to participate. To receive the $50 credit, eligible customers must make three purchases of $10 or more per transaction using their Debit MasterCard within the first 30 days of the account being opened. Eligible purchases include any transaction where ‘Credit’ is selected or PayPass transactions. Entry will not apply to ATM transactions, EFTPOS payments pressing ‘Savings’ or ‘Cheque’, BPAY®, PayAnyone, Phone or Internet Banking, direct debits or credits, cheques or Bank@Post transactions. Customers will receive the bonus credit in their ETA within 60 days of the account being opened. Only one $50 credit per customer and account, regardless of the number of ETAs opened.

This is general information only and you should consider if this product is appropriate for you. Members Equity Bank Pty Ltd ABN 56 070 887 679.

Referral Links

Referral: random (30)

$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

Financial Bank Account Bank Deposit

Related Stores

ME Bank
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closed Comments

  • PissLUR on 09/10/2013 - 12:20
    +1

    aah.. havent closed my account..

    let see if we can "ing" them, by answering NO to this Q "Are you already an ME Bank Customer?"

    • c64 on 09/10/2013 - 12:21
      +1

      i'd say not:

      "Customers who already hold an ETA on or prior to 15/09/13 are not eligible to participate. "

      • PissLUR on 09/10/2013 - 12:23
        +1

        it doesnt matter because at the end, I'll have multiple accounts opened.

        • abc on 09/10/2013 - 12:35

          So you confirm it will work if you open another account?

        • PissLUR on 09/10/2013 - 12:38
          +1

          I have submitted the application. Received an automated email "Your application has been submitted and is being processed. "

          Update:
          We’re delighted to confirm that your EveryDay Transaction Account has been set up. You’ll soon receive a welcome pack in the mail as well as your new Debit MasterCard®.

          Will have to wait for the welcome pack.

        • abc on 09/10/2013 - 13:51

          So you will have 2 different debit cards? :S

          How come they can't do it like ING Direct where you can have 2 Orange Everyday cards using the SAME Debit Card (one is "credit" the other is "cheque").

        • PissLUR on 09/10/2013 - 15:34
          +2

          yes, i may be treated as a new customer. :)

        • spendinghacker on 09/10/2013 - 16:19
          +1

          Seems like the "PissLUR Hack" might work on this one too.

        • Bargain4U on 09/10/2013 - 22:53
          +2

          Only one $50 credit per customer and account, regardless of the number of ETAs opened.

        • PissLUR on 17/10/2013 - 13:39
          +3

          Update:
          Received the card, called them to retrieve a internet client id.
          was given the same old id.

          Logged in using that, saw 2 active everyday accounts.

          I believe this attempt has failed. Wont be trying to spend 3x $10 transactions.

        • spendinghacker on 17/10/2013 - 19:07

          Thanks for the update.

          PissLUR hack not available for ME bank it seems. Loophole closed. :(

        • PissLUR on 17/10/2013 - 20:52

          I think the reason is because they do manual verification for all new account openings.

        • JohnHowardsEyebrows on 25/10/2013 - 13:13

          Or perhaps they have quick verifications of multiple instances of Name/DOB, or tax file number.

  • dak52 on 09/10/2013 - 12:20
    +1

    So I did this a year or so ago, and while they did ultimately give me the $50, it took ages and a number of phone calls. There are no hidden fees or anything, it is just a bit more work than I expected.

    • dak52 on 09/10/2013 - 12:20

      That said, maybe I should do it again :) I closed my account a month or so ago.

      • spendinghacker on 09/10/2013 - 12:30

        If your account is closed, I would definitely try again!

        FREE MONEY! ;)

  • smurfinaus on 09/10/2013 - 12:24

    Just applied. Thanks OP. Not sure i will keep the account after i get bonus though ;)

    • spendinghacker on 09/10/2013 - 12:32
      +2

      I would advise against it. Better bank accounts out there and it also has some sneaky fees we don't like (Bank@Post transactions, foreign currency fees, bank cheques etc)

      Open, get cash and close account in preparation for the next 'free money' opportunity.

  • Tal_Shiar on 09/10/2013 - 12:28

    WELCOME TO ME BANK. WE’RE DELIGHTED TO HAVE YOU BANK WITH US.
    We confirm that your new EveryDay Transaction Account has been set up:

    too easy b-)

    • Scrooge McDuck on 11/10/2013 - 12:19

      Not for me, as a resident of the most populous state of Australia, without a passport, phonebook listing or Medibank card I can't confirm my ID online.

      How did anyone else from NSW do it?

  • spendinghacker on 09/10/2013 - 12:33

    Spewing! Still have mine open due to the promo interest rate from December last year.

    Bummer :(

    • abc on 09/10/2013 - 12:36
      +2

      What happened to your "loyalty is dead" mantra?

      Not practicing what you preach? :P

      • spendinghacker on 09/10/2013 - 16:22
        +1

        No loyalty at all my friend…I get a BENEFIT out of that. Ultra competitive interest rate for 12 months.

        Once benefit is extracted, account will be closed and all links with ME Bank will be cut.

        And yes: LOYALTY IS DEAD! ;)
        http://www.spendinghacker.com.au/loyalty-is-dead

    • MelbBargainChaser77 on 09/10/2013 - 12:42

      Same!!! The 5.10%?

      • Scrooge McDuck on 09/10/2013 - 12:54
        +1

        Wait you've still been earning 5.10 % ?

        • abc on 09/10/2013 - 13:38

          lol i read your name as "Scrooge McDick" LOL

        • MelbBargainChaser77 on 09/10/2013 - 13:42

          yes. and still will be for a few more months.

      • spendinghacker on 09/10/2013 - 16:23
        +1

        4.5% now after the multiple rate cuts by RBA.

        You still getting 5.1%? Highly unlikely unless you did a term deposit and locked your money away for the duration.

  • AL008 on 09/10/2013 - 12:34

    When does it say you will receive the money?

    • Tal_Shiar on 09/10/2013 - 12:37

      It’s simple: just make three purchases of $10 or more by pressing ‘credit’ with your Debit MasterCard in the first 30 days of opening your account. PayPass transactions are included.

      • Bargain4U on 09/10/2013 - 12:39
        +3

        Customers will receive the bonus credit in their ETA within 60 days of the account being opened.

  • chnach on 09/10/2013 - 12:41

    Free money is always good.

  • Briefcase Mong on 09/10/2013 - 12:42

    Are there any ME Bank branches in Sydney ?

  • BrisLis on 09/10/2013 - 13:01

    Do we need to use a promo code?

  • vipulrm on 09/10/2013 - 13:07

    Does anybody know if choosing the Pink card attracts a $10 fee? This was the case last time but the T&C don't mention this explicitly this time.

    • Tal_Shiar on 09/10/2013 - 13:25

      all it says as far as I can see is >By choosing a Pink card, every time you make a purchase ME Bank will donate 1 cent to the National Breast Cancer
      Foundation's research program.

    • neeyuese on 09/10/2013 - 13:29
      +2

      http://www.mebank.com.au/personal/bank-accounts/everyday-tra…

      Pink Debit MasterCard

      We've joined with the National Breast Cancer Foundation to create the Pink Debit MasterCard. The Pink Card is available for a one off up front $10 card fee.

      Every time you make a purchase using your Pink card, ME Bank will donate 1 cent to the National Breast Cancer Foundation's research projects.

      Breast Cancer is one of the major causes of cancer death in Australian women, accounting for 2,800 lives each year. Approximately 14,000 cases will be diagnosed this year, including at least 100 men.

      To date, the National Breast Cancer Foundation has allocated more than $55 million to more than 230 research projects in Australia. With your help, we can do more.

      • Tal_Shiar on 09/10/2013 - 13:32

        still tax deductible?

        • abc on 09/10/2013 - 13:41
          +4

          I would say no, as you are receiving something in return. Plus they don't provide you with a "tax invoice".

          I got the Pink card for free in the last promo. Looks like it applies again :D

          See here

          In recognition of Breast Cancer Awareness month, the Pink Card fee will be waived.^

          ^ The one-off upfront $10 Pink Card fee will be waived for all applications received between 16/09/13 and 31/10/13.

        • vipulrm on 09/10/2013 - 14:53
          +1

          Thanks, abc. This is what I was looking for.

      • Scrooge McDuck on 10/10/2013 - 11:10

        Wouldn't you be better off just donating the $10 to the National Breast Cancer Foundation?

        You'd need to make 1000 transactions to recover that cost. When you take into account the time value of money, you'd probably NEVER recover the cost.

        Or do you personally derive some utility from the pink card?

  • cpho on 09/10/2013 - 13:19
    +2

    I had an ME one last time. I remembered to close it after i got the $50.
    Is it ethically correct to open another one and do it again?

    • hollykryten on 09/10/2013 - 13:28

      All i can see in the terms and conditions is this it doesn't say about people who closed their account before this date and want to open a new one "Customers who already hold an ETA on or prior to 15/09/13 are not eligible to participate."

      It says hold meaning still have an account open. So you might be able to do it.

    • Scrooge McDuck on 09/10/2013 - 14:21
      +2

      Nothing unethical about preferring more to less. It's called non-satiation.

    • brownbag on 09/10/2013 - 14:39
      +1

      Good on you for asking the question cpho.

      I would say no. This is intended to encourage you to try MEB's services. You've tried out their services and decided not to continue with MEB as a bank. I did the same, but at least for their $50 they got a member of the public to experience their services, which is their intention. But to do it again would be to rort the system - all you're doing is taking $50. I wouldn't do it again.

      • Scrooge McDuck on 09/10/2013 - 14:50

        But if you don't exploit loopholes they won't close.

    • AzuAzu on 09/10/2013 - 16:12

      Did you need to keep a minimum balance?

      And does the $50 just magically appear one day or did you have to call/email them? :o

    • spendinghacker on 09/10/2013 - 16:24
      +1

      Is it ethically correct to open another one and do it again?

      Y E S and highly encouraged by your fellow ozbargainers ;)

  • antzz on 09/10/2013 - 14:12

    So when we got the card, tranfer money to online account $50, spend 3 x $10 before 9 dec and then should we call up or do we just wait and get the money?

    • hollykryten on 11/10/2013 - 12:34

      Actually you've got to spend that 3 x $10 within 30 days of opening the account. So you open your account today then you've got to spend that money before the 10th of November.

      That 9th of December date is just the cut off date when they stop offering the $50 cash back for new accounts after that date.

  • shaybisc on 09/10/2013 - 14:12

    Do you get paper statements from ME? Is there a way to turn them off?

    • iseenya on 09/10/2013 - 16:03

      Yes and yes

  • Trishool on 09/10/2013 - 14:25
    -8

    All this effort for $20? I know I'd make $20 in the time it takes to set up an account, then go out of my way to put money in it, then make 3 x $10 transactions just for those $20. Not worth it for me.

    • arend on 09/10/2013 - 15:03
      +4

      I'm sorry, why are you here again?

  • gimme on 09/10/2013 - 14:30
    +1

    huh?? it's $50 NOT 20. You can some weird math there. it's a 3 second job to put some money in and make 3 transactions. I did it at woolies self checkout one after the other.

    • Tal_Shiar on 09/10/2013 - 14:35
      +1

      just make sure its 3 transactions you'd already be making…

      • Scrooge McDuck on 09/10/2013 - 14:52

        That's the thing. I've been spending LESS than $30 per month lately.

        • thebargainhunter on 09/10/2013 - 15:04
          -3

          Do you live in the Democratic Republic of Congo?

        • c64 on 09/10/2013 - 15:08
          -2

          That's the thing. I've been spending LESS than $30 per month lately.

          have you been living of dumpster food or something? :)

    • abc on 09/10/2013 - 15:50

      $50 for a maximum of 1 hours "work" (opening account, registering for internet banking, depositing money, closing account). I'm not including the 3 transactions you need to make, as you would already be making them.

  • WaywardOne on 09/10/2013 - 14:50

    This question caught me off guard:
    "Are you an Australian citizen or permanent resident?" YES/NO

    I now realise that "YES" means you are either an Australian citizen or a permanent resident

  • aki99 on 09/10/2013 - 15:01
    +2

    so why there isn't a verification available for NSW drivers license?

  • cashless on 09/10/2013 - 15:11

    love free money.
    is it greedy if I open two single name accounts (for me and the other half?)

    • spendinghacker on 09/10/2013 - 16:27
      +2

      is it greedy if I open two single name accounts (for me and the other half?)

      No and besides "Greed is good" (when it comes to dealing with banks and big corporates) , haven't you heard? ;)

  • Astro551 on 09/10/2013 - 16:11
    +1

    Can you do a cash out or something instead of spending 3x$10 o-O (poor student
    here)

    • gsrt22 on 09/10/2013 - 16:23
      -2

      yes. just buy something for $1 from coles… and get $10 cash out.

      • dak52 on 09/10/2013 - 16:27

        Don't think this works with the credit or paypass transaction that this requires, but I may be wrong.

      • spendinghacker on 09/10/2013 - 16:28
        +2

        Sorry to say but your suggestion is incorrect.

        If people follow this advice, it will be treated as an EFTPOS transaction instead of a credit purchase. You will not get paid your $50 if you do this.

        • bigblackbenny on 09/10/2013 - 21:42

          what about buying 10$ worth of shit on ebay 3 times with yo debit card, would that still qualify

        • spendinghacker on 09/10/2013 - 22:20
          +1

          Yes. No problem as it's a credit purchase.

          However, if you pay with PayPal, make sure you add the new debit card as a new funding source and use it for these particular purchases. If the products are not priced in Aussie dollars, you will either have to accept the terrible conversion rate offered by PayPal or cop a 2.5% fee from ME Bank.

    • c64 on 09/10/2013 - 17:08
      +1

      you could buy a $10+ coles item using credit and then return it the next day

      • Scrooge McDuck on 10/10/2013 - 10:44

        Yes, you can even get cash in hand too.

    • tarawa on 09/10/2013 - 17:19
      +3

      You could do what I did last time and buy a $30 giftcard and ask the attendant if you could pay 3 x $10, and then Paywave it 3 times.

  • AzuAzu on 09/10/2013 - 17:30

    I received an email confirming my application, but the account isn't "opened" yet…

    Does that mean I'll miss out on this?

  • cooni on 09/10/2013 - 21:30

    Here we go again

  • bigblackbenny on 09/10/2013 - 21:38

    yo brothers anyone know if u can use this on go card machine 3 times 10 bux and still qualify for this free dough

    • Bargain4U on 09/10/2013 - 22:55

      Eligible purchases include any transaction where ‘Credit’ is selected or PayPass transactions.

  • All Blacks NZ on 09/10/2013 - 21:54

    Does anyone know if they do a credit check for opening a transaction account?? They really shouldn't do it on debit card but I have a few checks recently with all those credit card promos here.

    • spendinghacker on 09/10/2013 - 22:24
      +1

      We have been through this before I believe ;)

      Transaction accounts and debit cards do NOT attract a credit check. End of story!

      With regards to all the credit checks you got recorded on your file due to all the promotional offers for credit cards you applied for, be careful!
      Too many 'marks' on your credit file (or "credit enquiries" as they are formally known) and you might have trouble qualifying for more 'serious' finance like home loans, personal loans, car loans or even other credit cards as some lenders will perceive you as 'high risk'

      Our simple rule of thumb: never apply for more than one credit card in each 12 month period.

      • superbass on 09/10/2013 - 22:38
        -1

        I applied for 3 of them (credit cards) within one year… No issue with me. 2 from the same bank, Westpac, within 3 months. No problem at all.

        • spendinghacker on 10/10/2013 - 00:08

          Try and go for a home loan or a car loan from a different lender in that same year and you will understand what I mean.

          You are obviously free to do whatever you want but, as much as we are huge fans of free money, we would advise against doing these tricks with credit cards and other lending products.

        • Bargain4U on 10/10/2013 - 00:10
          +1

          I applied for 3 of them (credit cards) within one year

          Activities like that will have serious negative impacts on your creditworthiness.

        • superbass on 10/10/2013 - 01:08

          wow really? can you show me how it impacted my "creditworthiness"? So by applying for 3 credit cards over 1 year over-wrote everything that I have? my house, 2 investment properties, car and equity shares. Come on.

        • superbass on 10/10/2013 - 01:17

          I already have mortgage for my house and investment loan so not taking out any huge money yet. But I did applied for 12 months novated lease through Macq Bank two weeks ago for 56k car. Approved. So I have no idea what you are talking about.

          So unless you can show me the magic credit assessment formula, I am sceptical. They mainly base it on your income, current asset and liabilities. I understand that they assess on credit history including how many credit cards you have and have applied for and declined, not how many credit cards you applied within a year.

        • Bargain4U on 10/10/2013 - 01:21
          +1

          http://lmgtfy.com/?q=%22credit+enquiries%22

          "high level of recent credit enquiries could result in credit issues" 1

          "…credit enquiries showing on your credit file. What lenders will often glean from this is that you are a serial borrower, and are desperate for credit. This portrays a negative image in their eyes, and will result most times in credit rejection" 2

          "If you have many enquiries on your credit file then the lenders will see you as a high risk borrower" 3

  • Briefcase Mong on 09/10/2013 - 22:32

    where can I deposit my money in a ME Bank branch ?

    • FreoIsaac on 10/10/2013 - 02:48

      there is also a ME Bank app for iphone not sure if there is one for other phones, not that great though you have to have already setup the internet banking from PC and then all it does is launch its own browser window formatted to iphone and you login with internet banking details.

      first time i ever opened another bank account with another bank just to get $50, but hey if the rates and service are better then my current ETA i might just keep it, NAB has been annoying me lately with its closing early on fridays when i normally go in to deposit cash are there any ME bank branches in WA?

  • bigblackbenny on 09/10/2013 - 23:06

    any of u guys no if this gona be treated as assessable income by ato

    • alvian on 10/10/2013 - 02:41

      Yes, it will be assessable. Yes, you should declare it in your tax return. No, the ATO don't care one way or the other until they decide to audit you, and then you will be in big trouble if you owe them money (original tax + interest + penalty tax + bad record).

  • hollykryten on 11/10/2013 - 12:30

    I had my bank account setup yesterday.

    I'd just buy three Blu-ray movies at $10 each to get the $50 cash back making those movies some freebies :)

  • tzar on 11/10/2013 - 13:35

    I can't believe how bad their online banking is

    • c64 on 11/10/2013 - 14:14

      i don't find it too bad.

      citibank & nab online banking is bad

      • tzar on 15/10/2013 - 18:50

        NAB was terrible when I started with them, but they've actually got a lot better now - their android app is really nice too. The things that really irritated me with MEBank's online banking that caused the above comment were:

        • I have to use a keypad to enter in a PIN instead of having a password
        • I have to have an entirely numeric password as a result of the above
        • The online banking does not tell you your BSB (at least I couldn't find it), instead you have to google and get it off the FAQ
        • The online banking actively attempts to stop you from copying your account number - if you try to highlight it, it disables it. Because, you know, it's so much better to try and copy it down manually for accuracy..

        At this point I decided to just stop and wait for my debit card to arrive before doing anything else, and it still hasn't so :| doubt I'll be bothering with them after this promotion pays out.

        • FreoIsaac on 25/10/2013 - 20:52

          yeah i have used alot of bank's over last few years changed from bankwest which was ok but they just closed my account without even telling me when i had stopped using it for a few months after 15+ years, they were as surprised as me that it had happened as they said they should of needed my authorization to close it, tried to get me to re-open with them, said NOPE and went to NAB,

          NAB is fine for me as branch is just down the road so i can easily go put deposits in and i do like the mobile app/internet banking 100x better then the ME bank app/internet banking that seems it was made 10 years ago, you can find the BSB on the internet banking site but you have to dig down into ETA page to find it, what annoys me most is having to look up my account ID everytime i want to use the mobile app to login, NAB just puts a passcode on logging into the internet banking part of the app then if you want to make any transactions you need to put in your normal PIN code too.

          transactions seem to show up alot faster on my NAB account then ME bank internet banking does, it shows my balance correctly but i had no transactions showing up till the other day and even then its only showing a few of them which is troubling

          def closing the account once i get my free money as not having a branch in WA where i can deposit cash is useless for me , is there anything that stops us from closing the account once you get the $50 deposited from them, i know they say it should happen within 60 days of opening and doing the 3x$10 credit/paypass transactions but do i have to contact them at all to say i have done it or will it just happen automatically?

  • FreoIsaac on 13/10/2013 - 04:16
    +2

    has anyone actually got there card yet? makes it abit hard to claim the $50 by making three purchases of $10 or more per transaction using your Debit Card within the first 30 days of the account being opened if i dont have a card to do it with. i have had 3 good chances to do it too making me more annoyed it has not come yet

    • hollykryten on 18/10/2013 - 15:05

      I got my card yesterday. Already made 2 of the 3 required purchases (couple of Blu-ray movies).

  • derkyft on 14/10/2013 - 18:53

    Did anyone receive an email saying that they will receive $50 after 3 transactions of > $10?

    I received an email last time, but this time I only received my card through the mail, with nothing mentioning the promo.

    Also when I log into the account it has my previous card number in there, but I called up to cancel and closed the account before 15th September.. Any advice guys?

    • spendinghacker on 14/10/2013 - 21:03

      Few questions:

      1. Is the number on the debit card the same as what you had before?

      2. Is the number of the everyday transaction account the same as what you had before?

      If the answer to either (or both) 1 or 2 above is YES then I'm afraid it might mean that ME Bank has caught up and closed the loophole. This can mean only one thing: no cash for you, sorry :(

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