This was posted 8 years 11 months 26 days ago, and might be an out-dated deal.

Related
  • expired

ME Everyday Bank Account 5% Paypass Cashback (6 Months) + $50 New Customers Only (Tuesday Only)

1200
ME Everyday Bank Account 5% Paypass Cashback (6 Months) + $50 New Customers Only (Tuesday Only)
Go to Deal
Works1235 on 28/07/2015 - 14:41 mebank.com.au (3204 clicks)
Last edited 28/07/2015 - 15:04 by 2 other users
tuesday

Was looking for 5% cashback deals since the one I was using is almost 6 months old.

TODAY ONLY!! Use tuesday promo code while applying for card.

Similar as previous deals

From website:

Use promo code tuesday when you apply for your first EveryDay Transaction Account on
Tuesday 28th July 2015, make 3 purchases within 30 days

terms and conditions for the ETA payback time offer
^Limited time offer available to customers who apply for their first EveryDay Transaction Account (ETA) on 28 July 2015. You’re eligible for a $50 bonus if you (1) successfully apply for your first ever ETA on 28 July 2015 (2) enter promo code tuesday in the promo code field (3) make 3 purchases of a minimum of $10 each within 30 days of account opening. You’ll receive the $50 into your account within 30 days of your third eligible purchase. Existing ME customers who already hold an ETA on or prior to 28 July 2015 are not eligible to participate. You’re not eligible for the $50 bonus if all the conditions above aren’t met. The bonus can’t be claimed in conjunction with any other offer or incentive other than 5% cash back. ME reserves the right to cancel the promotion at any time.

terms and conditions of cash back offer
*Available if you open your first EveryDay Transaction Account (ETA) between 3 March 2014 and 30 July 2015. Receive 5% cash back on all contactless purchases made within Australia using Tap & Go for amounts of $100 or less for 6 months from the date your account is opened.

The 5% cash back offer will not apply to contactless purchases which:
(1) are non-personal including transactions for business purposes; or
(2) exceed the fair use we expect by an individual using an ETA for personal use.

We may at our discretion cancel the cash back offer on any or all contactless purchases and/or close the account.
If eligible, the 5% cash back will be paid into your account within 30 days after the date the transaction is debited to your account. Only one cash back offer per customer and account.

important information about the EveryDay Transaction Account

Free ATM access at any ME, Westpac, St.George, Bank of Melbourne and BankSA ATM.

Fees and charges apply. Terms and conditions available on request. This is general information only and you should consider if this product is appropriate for you.

MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated. Tap & Go and PayPass are trademarks of MasterCard International Incorporated.

Referral Links

Referral: random (20)

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

Financial Bank Account Transaction Account

Related Stores

ME Bank
ME Bank

closed Comments

  • No Child Support on 28/07/2015 - 14:52

    Im seeing alot of neg in the last deal, is the cashback from paypass transaction still an issue?

    • Cluster on 28/07/2015 - 14:54
      +4

      Up until my 5% Me Bank cash back ended in mid April I had no problems. The payment was made every Friday afternoon. I haven't used Me Bank since then and don't even carry the card any more.

      If Me Bank is counting on permanently attracting new customers with a 6 month limited offer they're barking up the wrong tree on OzBargain :-)

    • heal on 28/07/2015 - 15:12
      +1

      I'm getting my cashback from this deal posted on 29/6/15. I haven't got my $50 rebate yet and based on other member's comments, they don't always pay it.

  • ChatCPT on 28/07/2015 - 15:11

    My ING 5% finished a few months ago got lazy and comfortable with ING but I think I might pull my finger out and transfer maybe 1k every month in here and use it to buy lunch

    • miarn on 28/07/2015 - 15:31
      +12

      transfer maybe 1k every month in here and use it to buy lunch

      what do you eat for lunch‽

      • ChatCPT on 28/07/2015 - 15:33
        +1

        lol whoops lunch + other stuff. lunch is about $20/day = $400/month the rest is for other small purchases - petrol groceries etc

        • justtoreply on 28/07/2015 - 16:41
          +11

          I had brushed this off as a joke. But for $20/day, now I really want to know: What do you eat for lunch?

        • ChatCPT on 28/07/2015 - 16:50
          +8

          @justtoreply: now im all self conscious

          1. bowl of chicken laksa - $12
          2. Lipton ice tea - $4
          3. Pistachio romani - $4

          Item 1 changes everyday but 2 & 3 remain the same

        • wildstone on 28/07/2015 - 17:11
          +1

          @havok44:

          Can't say for the others but get Lipton ice tea from supermarkets, if in CBD I'm sure there's plenty a stroll away.

        • bghunter on 28/07/2015 - 17:36
          +4

          @havok44:
          You wont be looking for all these rebates if you made your own lunch 😀

        • montorola on 28/07/2015 - 17:53
          +5

          @bghunter:

          Lol I love how this turned into a discussion about his lunch.

          Me personally, I try and have a $10/day budget for lunch

        • CandyMan on 28/07/2015 - 18:10
          +5

          @montorola:
          I try to take leftovers every day so maybe I end up paying 10-15 bucks a week on lunch

        • lawyerz on 28/07/2015 - 19:31

          @havok44: Malaysian? ^^

        • ChatCPT on 28/07/2015 - 21:59
          +2

          my friends this is why I save money - so that I can enjoy lifes overlooked little pleasures such as lunch!
          If I get hit by a bus tomorrow that gorgeous laksa with extra sambal would have been my last meal!

        • XeSSiV on 29/07/2015 - 08:39

          @havok44: Not if you get hit before lunch haha

        • ChatCPT on 29/07/2015 - 10:14
          +1

          @XeSSiV: i was waiting for that

        • justtoreply on 29/07/2015 - 13:15

          @havok44:

          That same laksa would probably be visible all over the pavement! ;)

        • ChatCPT on 29/07/2015 - 13:47

          @justtoreply: haha
          now im picturing my death oh dear

      • Scrooge McDuck on 28/07/2015 - 17:01
        +1

        +1 for interrobang

  • RedSky on 28/07/2015 - 15:35
    +3

    For people choosing the colour, the options are:

    https://www.mebank.com.au/media/1576803/ETA-cards_600x205.jp…

    • ProggerPete on 28/07/2015 - 15:51
      +6

      Pink: Free money and I get to feel like a good person while I do it. =)

      • ChatCPT on 28/07/2015 - 15:53
        +1
        • easy to find
    • rogdog on 28/07/2015 - 20:15
      +1

      choose wisely - Request to change colour of card fee $10

  • Bargaphile on 28/07/2015 - 15:49

    thanks op, done

  • cantstanzya on 28/07/2015 - 15:49
    +3

    MEbank mobile app is disgustingly bad.
    Just a wrapper for the website.
    Makes transferring funds back and forth laborious.

    • Iwantthatbargain on 28/07/2015 - 15:57
      +2

      No mate, if you are on iOS, they have relaunched a better app… I am not sure about Android

    • RemoteMan213 on 28/07/2015 - 15:58
      +3

      Their new app is great. Have you updated yet?

      • cantstanzya on 28/07/2015 - 16:36
        +3

        Just updated, wow heaps better!
        Shame it wasn't around when I was a new customer they might have gotten some of my money.

  • ChatCPT on 28/07/2015 - 15:55
    +5

    shit!
    forgot to use the "tuesday" code!

    • illumination on 28/07/2015 - 23:50
      +2

      Oh no that was 2.5 of your lunches!

  • TheCad on 28/07/2015 - 15:57
    +1

    Am I blind? Is there a minimum amount to deposit into the account?

  • Iwantthatbargain on 28/07/2015 - 15:58

    Once the 6 months promo is over, can I open another new account and get another 6 months?

    • Certified Angus on 28/07/2015 - 16:12
      +1

      No

      "…available to customers who apply for their first EveryDay Transaction Account…"

      • Agret on 29/07/2015 - 00:58

        If you close your account and then make a new one you can create an everyday transaction account and technically that will be your first one again.

        • CVonC on 29/07/2015 - 02:10

          you'd think so.. but sadly no.

  • massivedmg on 28/07/2015 - 15:59
    +6

    Thanks, applied for a pink card. :)

  • JackyQ on 28/07/2015 - 16:10

    tried to sign up but the website from ME just cant take my application.

  • Ronnnie on 28/07/2015 - 16:22

    This bank has a bad rep? Well judging by this deal : https://www.ozbargain.com.au/node/200793

    • spackbace on 28/07/2015 - 16:37
      +6

      Negs were brought on by people that couldn't wait the 30 days for the $100 referral notice, even though it was clearly in the conditions of the deal. So really the negs seem unwarranted.

      I was one that waited, and waited, and sure enough the $100 was paid :)

      • bghunter on 28/07/2015 - 17:37

        Couldnt agree more

      • Charity on 28/07/2015 - 23:35

        no, ppl negged because they lied many times.

        I got the $100 too, but we both can thank the hounding that many were doing to their facebook page, etc.

        There was a reasonable likelihood that they contemplated not keeping their end. They could have just as easily said you weren't part of the first 2000.

        So spare a thought for the folks that make our lives easy.

        • spackbace on 29/07/2015 - 09:13

          but we both can thank the hounding that many were doing to their facebook page, etc.

          There is zero way of knowing if that made any possible difference. ME quoted 30 days, money showed up in my account in 29.

  • cooni on 28/07/2015 - 16:32
    +1

    Definition of new customer? Is it written anywhere how long you need to be not a customer for to be new again?
    Or is it a once off / life..?

    • justtoreply on 28/07/2015 - 16:42

      Would like to know too. Kinda holding off all these 5%'s until I have to buy zillions of nappies and feed multiple mouths.

    • CVonC on 28/07/2015 - 16:49
      +1

      Once. Life.

  • [Deactivated] on 28/07/2015 - 16:39

    Lime green: $50 for free always welcome. A bit of work required.
    Could be a challenge doing three paywaves in 30 days from account opening. Depends on how fast the card takes to arrive.

  • RyanMK on 28/07/2015 - 16:47

    So to clarify, unlike ING, there's no need to deposit $1,000 monthly to qualify for the cashback?

    • CVonC on 28/07/2015 - 16:52
      +1

      See reply below (sorry clicked on the wrong reply button)

  • CVonC on 28/07/2015 - 16:51
    +2

    Correct. But a benefit with ING is if you have their online savings account, the rate will then be 3.5%. Also you get free atm withdrawals with any atm.

    • RyanMK on 28/07/2015 - 16:53
      +1

      Thank you :)

  • plasmapuff on 28/07/2015 - 17:04

    What happens after 6 months?

    Does it default down to 2.5% like ING or do you get nothing?

    • CVonC on 28/07/2015 - 17:24
      +3

      0%

      ING is 2%

  • velleyy on 28/07/2015 - 17:11

    Uhm, so should I just apply for the sake of having it? I mean it costs nothing right?!

    • Ronnnie on 28/07/2015 - 17:13

      Your time and effort is worth nothing?

      • Certified Angus on 28/07/2015 - 19:46

        This was the least effort banking transaction I have done in a long time. They must verify your ID somehow, but it wasn't obvious during the sign-up process

  • ExpressCoffee on 28/07/2015 - 17:22
    +1

    Open account, make 3x$10 purchases and get $50 after 30 days?

    Not bad not bad.. a lot of effort but $50 is $50. The 3 purchases are a tad annoying as I have to deposit money and actually use it rather than deposit $1000 and deposit back.

    firstworldproblems

    • Charity on 28/07/2015 - 23:42

      So you are rewarding another bank for giving you SFA, yet you penalize the bank that is rewarding you. Wow.

      Talk about ass backwards.

      • ExpressCoffee on 29/07/2015 - 01:55

        Heh. What do you know about SSA?

        Touche, sir.

  • zxcvb on 28/07/2015 - 17:24
    +1

    good deal especially due to debit master card - good for domestic airline tickets.

    one thing - make sure you open individual accounts for you and your partner to qualify for $100 credit.

  • bargainhereicome on 28/07/2015 - 17:52

    Sometime they have promo for referring friend and both get $100 right? Should I wait?

    • sj2can on 28/07/2015 - 17:56

      So far they've had $50 refer a friend promotions & the last one was $100 refer a friend. I'd hold out but depends how patient you are :P

      • bargainhereicome on 28/07/2015 - 18:08

        So the 5% cashback is ongoing promo for new customer right? It's just once in a while the refer a friend promo or one day promo code pop out as an additional bonus to 5% cashback? Happy to wait but don't want to miss the 5% cashback promo though

  • Pandaroo on 28/07/2015 - 18:00
    +1

    Has anyone with a mortgage offset account done some calcs for their personal spending habits and seen whether you would be in front by using a 5% rebate card day to day, compared to keeping all funds in the offset account and using a credit card (paying the card off at the end of the intrest free period)?

    I used the ING before I had mortgage until my 5% ran out and it was great, but I'm not sure if its worth bothering now.

    Just interested as I've never got around to calcuating it myself.

    • plasmapuff on 28/07/2015 - 18:19

      +1. Would also be interested.

    • [Deactivated] on 28/07/2015 - 18:24
      +2

      You should transfer a small amount of money regularly so you can use the 5% cashback, and leave the rest in offset, that way you maximize both the offset and cashback.

      e.g. transfer $500 every x number of weeks to ME and you should come out ahead, if you intended to spend the money anyway.

      FYI best return for a CC would be around 1.5%, with a up to 55 day interest free period you're looking at an annual saving of 0.67% with the offset. If the cashback was 2% however, I'd probably not be too bothered since you'd need a CC for most big ticket items anyway.

    • Cluster on 28/07/2015 - 20:10
      +2

      The cash back wins hands down. Consider that you get the cashback a couple of days later (ING) or up to one week (ME Bank). You can then put this amount in your mortgage offset account while also transferring a minimum amount of cash (maybe $100 or so at a time) for spending purposes to ING/ME.

      You're probably paying much less than 5% on your mortgage. How long does it take you to earn a 5% return for every dollar kept in the offset account? About a year. A 55 day interest free period is at best going to be worth about 0.75%. The 5% cashback comes to you within 7 days. Nothing beats that.

      • Pandaroo on 29/07/2015 - 01:06

        Yeah it does sound like it could be the way to go.

        I'm living in fantasy land at the moment as my credit card has 9 months interest free so I'm only bee paying the minimum repayments at the moment while my offset grows, when that ends and I'd have to pay it off each 55 days or whatever it is so using the ING/ME card for paywave purchases will be more useful.

        Though it won't be too critical in my situation as I'm only a single 23yo so it's only like $70 for food and petrol each week for me, plus maybe on average $100 in alcohol/socialising. Nearly literally everything else is online purchases. So that would still be $10 a week/$520 a year (still pretty good, motorbike insurace for a year for free)

        If were a family spending more each week it would add up pretty quick and would definitely be worthwhile

        • illumination on 29/07/2015 - 10:10

          Completely agree with derfel.cadarn and Cluster. Cluster's summary is exactly how you should think of it.

          Think of a practical example.

          You are considering whether to put $1000 in an offset account, interest rate of 5% per year, or put the $1000 into MEBank to get 5% cashback on purchases (paid into your account within a month).
          Assume offset account has a value of $300,000 (i.e. $300k loan)
          You've decided to put it into MEBank.
          You spend $600 of the $1000 in a month. Cashback amount? $30
          If that $1000 was sitting in your offset account, your loan valuation would now be $299,000 for the month.
          i.e. your monthly repayment is $1249.583
          compared to if your loan valuation was $300,000
          your monthly repayment would be $1250

          How much have you saved? ~$0.41 (compared to the $30 in cashback)

          Also keep in mind in the above scenario, you only spent $600 of the $1000.
          This means if you had put the $1000 in MEBank and even spent only $10 of the $1000, and received a cashback of $0.50, you would still be better off than putting the cash in your offset account (by $~0.09).

          In response to your scenario above, again, consider it in a practical example.

          You are still better off with 5% cashback compared to taking advantage of 9 months interest free. At best (applying the same assumptions as the scenario above), you would be "saving" 3.75% (calculated using 9 months interest free out of 12 months - where the interest rate per year is 5% - i.e. you are able to "keep" that money in your account for 9 months out of the 12 months, 75% of the year longer). At best because the purchases you make in the 7th month will only receive a very minimal benefit, as you are only able to keep that money for an additional 2 months.

          This is just a high level comparison of the scenarios, and sorry for the messy explanation. Happy to try and re-explain it or be corrected if I've said something wrong.

        • abacus on 29/07/2015 - 18:13

          You also get charged $2.50 for depositing cash into the account.

  • EDIflyer on 28/07/2015 - 18:10

    Thanks, OP - have applied, that's a good cashback rate and a nice welcome bonus!

  • watwatwat on 28/07/2015 - 19:16

    As someone who is unemployed, this residual income is good!

  • Talonparty on 28/07/2015 - 20:08

    Thanks very much, time I finally capitalised on one of these offers, and $50 is a good incentive!

  • AusBargainhunter on 28/07/2015 - 20:40

    Well, I signed up. I'll be closing my Westpac account. They better pay the $50 or I'll be very disappointed. I can't trust a company that says one thing in their marketing and then does another after the sale.

  • Jared17 on 28/07/2015 - 20:51

    terms and conditions of cash back offer

    *Available if you open your first EveryDay Transaction Account (ETA) between 3 March 2014 and 30 July 2015. Receive 5% cash back on all contactless purchases made within Australia using Tap & Go for amounts of $100 or less for 6 months from the date your account is opened.

    So that means if you opened an account before 3 march last year, you are eligible for the cash back but not the $50?

  • harthagan on 28/07/2015 - 20:54

    I signed up but still need to do the identity thing. If that is not conpleted by today that means i dont get the free $50 right?

    • EDIflyer on 29/07/2015 - 08:01

      I wouldn't say so - you've made the full application and completed all the details, you don't have any control over how long it takes them to verify things.

      • harthagan on 29/07/2015 - 11:29

        Thanks but i didnt get to verify my identity until today so i have no idea of knowing now if i will be eligible or nit for the $50

        • EDIflyer on 30/07/2015 - 07:57

          I'm in the same boat (their online system won't use a Medicare card like Optus do, only Medibank Private!) - will be pushing hard if they don't pay it!

        • EDIflyer on 30/07/2015 - 16:51

          Verified my identity today and called them just to check - they could see the 'tuesday' promo on my application and said that would all be fine as applied in sufficient time :)

  • beardedpeptides on 28/07/2015 - 20:58

    Is it worth opening the online saver account as well??

    • beardedpeptides on 28/07/2015 - 21:12

      anywho I applied! Thanks for the post!!

      • CVonC on 28/07/2015 - 21:15

        not really.. the online saver rate is only 3.2%.. ING is 3.5%

  • davidl2 on 28/07/2015 - 21:20

    MeBank just cannot compete with ING Direct…..

    ING deal was posted late last month, and both new friend who signed up & referral(me) received the $75!
    and ING have 2% INSTANT cash rebate after 6 months of 5%,
    this MeBank is 0% after 6 months……(don't forget that MeBank cash back wasn't instant too)
    also ING have no fees using any ATM in Australia for cash withdrawal!
    lastly, this deal only valid for 1 day??? and only $50 for new customer? (no bonus for referring a friend to use your services???)

    cmon, MeBank, you could do it BETTER!

    • CVonC on 28/07/2015 - 21:38

      most of your points are valid but

      both new friend who signed up & referral(me) received the $75!

      you were one of the lucky ones that was targeted. i wasn't as fortunate

      and ING have 2% INSTANT cash rebate after 6 months of 5%,

      the new customer doesn't have 5% cashback unfortunately where as they will for ME Bank. yes they receive $25 less on signup, which would equate to $500 worth of purchases with the 5% cashback.

      much of a muchness tbh

    • Forenti on 28/07/2015 - 21:59

      Though the 2% cashback at ING is conditional on a $1000 deposit every month whilst the 5% ME Bank cashback doesn't require any deposit. For me the ME Bank deal is better because I don't have $1000 to deposit every month (student)

      • watwatwat on 28/07/2015 - 23:29

        Just transfer out $1001 to a different account and then transfer it back.

    • ozy on 28/07/2015 - 22:58
      +1

      MeBank for 6 months then switch!
      Love them love like they love you!

      • davidl2 on 29/07/2015 - 00:37

        thats what I am doing…..my 6 months 5% just finished, I stopped using MeBank and got back to ING 2%

    • EDIflyer on 29/07/2015 - 08:03

      Sounds like it was a great deal at the time, although having missed out on that one this one still seems pretty good :)

  • MelBourne on 28/07/2015 - 22:20

    This is cool, I signed up, It only took 3 minutes and I've already got access to internet banking.

    Unlike a couple of you guys, I think I will continue to use my card with this bank if they are so kind to make offers like this to bring me in. 5% cashback is awesome as well. I see no reason why I should continue using my current debit card with CBA, when its easy enough to transfer money in to this account and start using ME bank.

    • ozy on 28/07/2015 - 22:55

      ME bank deal is good, CBA stocks are low, win win

    • davidl2 on 29/07/2015 - 00:40
      +1

      just don't deposit money in AusPost for MeBank, always use online transfer!
      else you get charged $2.50 even you just trying to deposit money….. :p
      read the fees table!

  • Jaxx on 28/07/2015 - 22:35

    signed up thank you!
    If I purchased 5 x $95 Wish Gift cards in one go using 5 x paypasses, would that constitute non-personal use?

    • Charity on 28/07/2015 - 23:49
      +1

      they would probably see you as trying to circumvent their system - and not pay the 5%.

      If you have to do this, do it over 5 or more days.

      • davidl2 on 29/07/2015 - 00:38

        MeBank are more straight than ING on transactions like these….

    • silent1 on 29/07/2015 - 06:32

      Why not just get them through cashrewards for 5% off?
      http://www.cashrewards.com.au/woolworths-gift-cards

      • Jaxx on 04/08/2015 - 18:50

        can't get the 5% off by using Paypass if I did that.
        received my card today, 1 week since application, pretty good!
        Will be trying out my shiny new pink card tomorrow.

  • coolsteps on 29/07/2015 - 09:31

    i had to fight them to get my $50 referral from the wife for last promo and never got any rebate so i closed it. i think what the problem was even though i had closed all my accounts over 6 months ago they assigned me the same customer id logon. be sure to call up if they do this and get a new customer id for logon so system doesn't think your an existing customer.

Login or Join to leave a comment
Login Join