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Get $50 When You Open a New St George 'Complete Freedom' Bank Transaction Account and Deposit $500*

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Get $50 When You Open a New St George 'Complete Freedom' Bank Transaction Account and Deposit $500*
Go to Deal
ricardigan on 21/06/2016 - 15:54 stgeorge.com.au (3211 clicks)
Last edited 21/06/2016 - 20:13 by 2 other users

Open a new Complete Freedom account and get $50 into your account.

Here’s how to get the $50:

  • Open a “Complete Freedom” account online
  • Deposit $500 within 60 days

Good to know:

  • New accounts only
  • Complete Freedom has a $5 monthly account fee unless you deposit at least $2k per month
  • Offer ends 30 September 2016

*Offer available to customers who have not held a Complete Freedom Account (including all joint account holders) anytime from 30 May 2015. The offer is not available on the Complete Freedom Student Account. Eligible customers need to open a Complete Freedom Account between 30 May 2016 and 30 September 2016 (inclusive) and deposit a minimum of $500 within 60 days of opening the account (an "eligible account"). Eligible customers will receive $50 deposited into their account on the next business day following the 60-day period. Accounts must remain open on the next business day following the 60-day period to be eligible for the $50 payment. Offer limited to one $50 deposit per eligible account capped to one $50 deposit per customer. For customers with multiple eligible accounts, only the first eligible account will receive the $50 deposit, which may include a joint account.

Financial Bank Account Transaction Account

Related Stores

St.George Bank
St.George Bank

closed Comments

  • Sshanaz on 21/06/2016 - 16:13

    I closed my account in Sep 2015 and still not eligible.

    • Gotchas on 21/06/2016 - 17:30

      Where does it say exclude previous customers?

    • edy4eva on 21/06/2016 - 18:14
      +2

      I closed my account in December 2005, would I still not qualify?

  • railspider on 21/06/2016 - 16:17
    +8

    Eligible customers will receive $50 deposited into their account on the next business day following the 60-day period. Accounts must remain open on the next business day following the 60-day period to be eligible for the $50 payment

    So you have to keep the account for two months, meaning you'll pay $10 in fees unless you transfer in $2000 a month.

    A little bit of effort, but probably worth it for a free $50.

    The account itself seems pretty unimpressive, can't see why you'd keep it past the 60 days.

    • payton on 21/06/2016 - 16:22
      +6

      Deposit then take out the 2k the day after

    • dazweeja on 21/06/2016 - 16:22
      +6

      Transfer the initial $500 in and out four times per month to avoid the fees?

      • brazen00 on 21/06/2016 - 16:25
        +8

        That seems like 4x the effort of just depositing $2k.

        • dazweeja on 21/06/2016 - 16:27
          +7

          I agree but not everyone has a spare $2K.

        • WatermelonJuice on 21/06/2016 - 16:31
          +1

          Automate the transfers. Not worth it for $50.

        • brazen00 on 21/06/2016 - 16:42

          @dazweeja: Yeah I thought of that after I'd posted. My bad

      • spendinghacker on 21/06/2016 - 16:28
        +12

        Basically, you need to setup a weekly automated transfer in and another weekly transfer out the following day and let them run until you get paid.

        You then withdraw your loot and promptly close the account.

        Doing all this manually is too much effort IMHO for $50

        • heal on 21/06/2016 - 16:51
          +1

          Better still, open an account in your name and one in your partners name, then set up a weekly automated transfer into the first St George account and a day later move it into the second account. Next week same thing from the 2nd account to the first and back again. A cool $100

        • spendinghacker on 21/06/2016 - 17:42
          +6

          From the account fee schedule:

          Periodical Payment - $4.00#

          The Periodical payment fee is payable for a transfer of funds that we make on a regular basis at your request from your Account to another specific account. The fee is charged at the time the transaction occurs. Periodical payments to another account held with St.George, Bank of Melbourne & BankSA are free.

          Yea, no. Automating transfers will cost ya and it's not worth bothering to do all this manually to avoid this fee.

          No deal!

        • liquid metal on 21/06/2016 - 20:13
          +2

          As someone else posted, rocks in ya head if someone uses that account as a daily. Have never heard of a fee for periodic payments. How bloody stupid is that? Well, probably not at all if enough people don't care and just pay.

        • Russ on 21/06/2016 - 22:31

          @ginmi:

          Periodical payments to another account held with St.George, Bank of Melbourne & BankSA are free.

          So open a second account with StGeorge when you open the Complete Freedom account.

          Their "Maxi Saver" account is probably the best to transfer to and from - no fees and actually pays a small amount of interest.

        • Scrooge McDuck on 22/06/2016 - 00:13
          +2

          @ginmi:

          "Complete Freedom"?

          What a crock of shit!

        • spendinghacker on 22/06/2016 - 12:31

          @Russ:

          So open a second account with StGeorge when you open the Complete Freedom account.

          Good thinking but it won't work. In order to avoid the monthly service fee, the monthly 'shuffle' need to be with an external (i.e. NOT St. George) account or, at the very least, a St. George account owned by someone other than you.

          The idea is that they want you to transfer your regular income (e.g. salary) to the account and use the account as your 'daily driver'.

          All other banks that have such condition in order to waive the monthly service fee, have the same policy.

          Everyone is free to do as they please obviously but I'm walking away personally. Too much effort for $50 and given how extremely inferior this St. George product is.

        • spendinghacker on 22/06/2016 - 12:33
          +1

          @Scrooge McDuck: Agreed mate but no doubt some people fall for this (although they are probably not regulars on this website…(-: )

        • FeRGan on 22/06/2016 - 15:03

          @ginmi: Thanks for the info, I have cancel the auto pays and will do manually.

        • FeRGan on 22/06/2016 - 15:14

          @ginmi: So all I will have to do is transfer the 2000 back out of the anz account, then back again next month and the same till after august?

      • muncan on 21/06/2016 - 17:37

        Or for those with less than $500 to burn, schedule a daily transfer of $67 in & out off your account for two months. This will cover the $2k minimum to avoid the $5 monthly fees and of course the $500 initial month's deposit.

        • OzBrogains on 21/06/2016 - 18:20
          +1

          No

        • spendinghacker on 22/06/2016 - 12:35

          $4 per day in fees to St. George.

          Thank you very much sir. Please come again

          (-:

          (if you don't understand what I mean, see my comment above)

        • muncan on 22/06/2016 - 14:26
          +2

          $4 per day in fees to St. George.

          So $50 gain for $244 shortfall.

  • Soluble on 21/06/2016 - 16:23
    +1

    Seems like a pretty easy $50/100 for couples ;)

    • spendinghacker on 22/06/2016 - 12:38

      Only if you're willing to do a fair bit of 'manual labour' and/or lose interest elsewhere.

      See my comment above.

  • Ryk on 21/06/2016 - 16:27
    +12

    $5 monthly account fee gets you what, exactly? transaction accounts dont have fees elsewhere.
    $5 OS ATM fees
    3% currency conversion fees
    no paywave rebate
    no apple pay
    no android pay
    lots of fail here.

    • spendinghacker on 21/06/2016 - 16:31
      +4

      Yep. You need to have rocks in your head to actually use this account.

      This is a pure 'in and out' operation and is worth it only provided you can fully automate your game plan as I discussed above.

    • abm77 on 21/06/2016 - 16:51
      +1

      "transaction accounts dont have fees elsewhere."
      Can you plz elaborate on that? I know just one bank with no fees on transaction accounts - NAB. Rest of "big 4" have a 5$ fee

  • nelsonrat on 21/06/2016 - 16:36
    -1

    If you are a student (full-time) tertiary - you can load a fee exemption once you open this account.

    • moonshot on 21/06/2016 - 16:48
      +1

      Care, "The offer is not available on the Complete Freedom Student Account."

  • FeRGan on 21/06/2016 - 16:36
    +1

    I had a transaction account through st-George that I closed about 9 years ago. Reckon I'll still be eligible for this?

    • railspider on 21/06/2016 - 16:44
      +2

      Says your eligible as long as you haven't had this particular account after March 2015

      You'll be right

  • RocketSwitch on 21/06/2016 - 16:36

    What a weird ad.

  • thydzik on 21/06/2016 - 16:36
    -1

    thanks, signed up. received logo number even though I got an error on signup.

    • Sex on 21/06/2016 - 16:39

      I had that error too. I don't think the application went through..

      • thydzik on 21/06/2016 - 16:41

        I received an sms with logon details and managed to create an online account.

  • zpohc on 21/06/2016 - 16:49

    "Your details have been saved

    We had trouble creating your account. We'll continue to process your application and get in contact with you within 24 hours"

    • Franconian on 21/06/2016 - 20:11

      Same for me, maybe not possible with Victorian address?

  • HenBitchcock on 21/06/2016 - 17:01
    +5

    And me - "Your details have been saved. We had trouble creating your account. We'll continue to process your application and get in contact with you within 24 hours"

    They're getting a little more attention than they banked on? ;)

    • Quotationz on 21/06/2016 - 17:36

      I got we have been unable to verify your identity please go into a branch. Even though I had all valid details entered

  • 28kb on 21/06/2016 - 17:24
    -1

    reckon we need to leave $500 in there?

  • Wormetti on 21/06/2016 - 18:37

    St George still exists? I had an account with them in 2010 but at some point after that, they moved my account to Bank of Melbourne/renamed the branch. I closed the Bank of Melbourne account in 2013.

    • CacheHunter on 21/06/2016 - 18:48
      +2

      Yes, they're part of Westpac, as is BoM - if you look down the bottom of their web pages, both list Westpac's ABN.
      I think they rebranded most of their Victorian branches as BoM a few years back, but there should be nothing stopping you from opening an account with a Victorian address.

  • tomleonhart on 21/06/2016 - 19:09
    +1

    I'm going to say it.

    CBB for $50!

    • Wormetti on 21/06/2016 - 23:00
      +3

      So many people feel that way, they will work many hours for less than $50/hour. They will spend hours reading and typing for free on sites like ozbargain but they won't do less than 5 minutes of online typing for $50 on a bank website.

      • tomleonhart on 22/06/2016 - 10:57

        I know what you're saying.

        But i wish it takes 5 minutes to:

        • Register
        • Wait for confirmation email
        • Add new account number to existing transaction account
        • Set up auto transfer for both transaction account and new st George account
          etc etc

        Typing this comment probably costs me more than $50 already lol

  • Mad Max on 21/06/2016 - 20:18

    Do you need to go through identity verification if you have a dragon direct account?
    If not it could be worth for the $50. Otherwise no way. Then you have to wait 2 months for your $50 and move $2000 in and out 4 times…

    • Wormetti on 21/06/2016 - 22:59

      I'm not an existing customer and the whole signup, including identity verification took less than 2 minutes online. Verified fine with my license number.

    • peterpeterpumpkin on 25/06/2016 - 12:26

      I had to go in.

      And unless you time it perfectly you'll need to deposit $2000 3 times (and withdraw 3 times if necessary) to avoid paying any fees. And that's assuming your bank allows transferring that amount in one transaction.

  • Frozensage on 21/06/2016 - 20:33

    Does this work for opening under a family trust?

  • arthur2633 on 21/06/2016 - 20:52
    +1

    Does anyone know if I open an account in the middle of the month Do I still need to deposit $2000 avoid the fee for the first month?

    • Wormetti on 22/06/2016 - 10:48

      Yes. The terms say "The monthly service fee of $5 will apply, if by the last business day of the month, you do not deposit a minimum of $2,000."

      • peterpeterpumpkin on 25/06/2016 - 12:32

        Yes and the same goes for the closing month.

        • Mad Max on 04/07/2016 - 14:35

          Not if you close the account early in the month.

  • gm3stevens on 21/06/2016 - 23:45

    I don't mind to spend a bit of time for the money transfer to get the $50. Thanks OP.

  • Ryk on 22/06/2016 - 06:52

    I was a long time St.George customer back when Jim Sweeney was MD. I had home loans, credit cards, a wallet full.
    They were the best bank. Unfortunately Gail ran it into the GFC, and now it's just a westpac marketing experiment :(

  • trev likes bargains on 22/06/2016 - 10:06
    +1

    I got an error message stating

    Sorry, we weren't able to open your account
    Please visit a St.George branch to open your account

    • 102010 on 24/06/2016 - 20:28
      +2

      Same. Went into the branch today - tried to sell me a home loan while I was there.
      This $50 is becoming hard earned…

  • Mysterious on 22/06/2016 - 11:53

    Can we just open the account, deposit $500 after 59 days, then get our money then close it ?

    • spendinghacker on 22/06/2016 - 12:41

      Yes you can but you will then incur $10 in fees (2 x $5 account service fee) so net profit is only $40

      • Mysterious on 22/06/2016 - 12:42

        I assume if the balance was $0, there would still be fees.. I guess I'll xfer 2k.

      • peterpeterpumpkin on 25/06/2016 - 12:37

        Unless you open the account on the 1st of July, deposit by August 30 and close by August 31 you'll probably incur $15 in fees.

  • ClintonL on 22/06/2016 - 12:05

    So at the start I just deposit $2000 take it back out and deposit it back in at the start of the next month and i'll be right? Has anyone gone through the sign up for a new customer. How long does it take. Do you have to go to a branch to confirm your identity etc?

    • Sex on 23/06/2016 - 08:36
      +1

      Took me literally 3 mins. I only used drivers licence as verification. I'm doing just that..depositing 2k then taking it right now and doing the same thing start of July.

  • bray77 on 22/06/2016 - 12:29
    +4

    Couldn't verify me online, even though every other bank can… Now i'd actually have to TALK to people in the branch, not worth it.

  • thydzik on 23/06/2016 - 10:55

    they give you your bsb and account number, allow you to transfer into your account,
    but then to get your money out you need to physically visit the branch to verify your account.

    • thydzik on 24/06/2016 - 22:01

      and then you need to go to the same branch to sign for your debit card when available.

  • peterpeterpumpkin on 23/06/2016 - 20:37

    If you close your account on say the 10th of the month would they still try charge you that month's $5 fee if you haven't deposited $2000? Otherwise you'd have to do the $2000 in and out 3 times…

    • peterpeterpumpkin on 24/06/2016 - 21:48

      They tell me the fee will be prorated (i.e. in a 30 day month, $5 * (10/30) = $1.67) unless you put in the full $2000. Shame they don't charge $2000 by (10/30) as well…

      • Mad Max on 04/07/2016 - 14:38

        How do they charge the fee if your account balance is $0 when you close it because you have just taken out the $50 bonus?

        • peterpeterpumpkin on 04/07/2016 - 15:38

          Haha. I was wondering the exact same thing. I was ready to fight with ANZ. Maybe they'll let it slide.

  • Mysterious on 25/06/2016 - 12:20
    +1

    They made an account for me but haven't bothered telling me my account number by email or SMS.. Anyone have this problem?

    • peterpeterpumpkin on 25/06/2016 - 12:44

      The account number appeared on screen at completion (with extraneous leading 0).

      Once you set up internet banking the BSB and account numbers are easily accessible.

      On another note, I couldn't sign up for this deal on my Android. The button did nothing.

      • Mysterious on 25/06/2016 - 12:51

        I mean my "Customer Access Number" they were meant to SMS me a couple days ago. I don't know why I haven't received it, may have to give them a call. I also signed up for the old Student Freedom Account a while ago and never heard anything back too. This bank is riddled with customer service/account creation issues. I really have no problem waiting or small delays, but I regret wasting my time opening this account, save your time guys.

        • INFIDEL on 04/07/2016 - 14:13

          When opening account it shows…
          Thanks for joining us
          You now have a St.George Complete Freedom account
          Access Number: xxxx xxxx
          We have sent the Access Number to you by SMS and email. It's your unique ID to logon to your Internet Banking.

          SMS received immediately with Customer Access Number.

      • Wormetti on 25/06/2016 - 17:44

        That leading 0 nearly made me send a deposit to the wrong account. Fortunately I double checked before entering the SMS verification from my sending bank. The last digit didn't copy and paste because there was a leading 0 which made it too many digits.

    • peterpeterpumpkin on 25/06/2016 - 12:48

      I would always go in anyway. HSBC let me sign up without ever entering a branch and they eventually requested in-person verification anyway once in the branch.

      Apparently some people fail verification after they've deposited money. You can imagine how frustrating that would be.

  • zpohc on 02/07/2016 - 09:27

    Are St George and Bank of Melbourne related?

    I never had a St George account before but when I opened this Complete Freedom account - account details of people I had transferred money to previously showed up.

    Doesn't look like I'll be qualify for the $50 because I got messages in my inbox from September 2015 lol…

    • INFIDEL on 04/07/2016 - 14:23

      I think we all got old messages in our inbox, despite opening first account…
      Banking on your mobile just got simpler
      Received On: Thu 17 Sep 2015

      • zpohc on 04/07/2016 - 14:49

        Hmmm still doesn't explain why there are existing accounts in the payees lol

        • INFIDEL on 04/07/2016 - 15:13

          Yes, sounds like you have an existing account, but I assume not a "Freedom" account, so qualify for $50…

    • Ryk on 05/07/2016 - 13:29

      yes, St George and Bank of Melbourne are the same bank.
      you can have a STG account linked to a BoM card, or BankSA card, and vice versa.

      They are both a cynical branding exercise from westpac marketing department.

  • Jared17 on 04/07/2016 - 12:36

    Can anyone confirm you can transfer the 2K out easily just using online banking without going to a branch? I mean after opening the account and depositing 2K into it to avoid the fee.

  • Mad Max on 04/07/2016 - 15:33
    +4

    FORGET IT - COMPLETE WASTE OF TIME
    Yes they will let you put the money in but then they will not let you take YOUR money out unless you go to a branch for identification. Even if you already have a Savings Maximiser with them.
    I was wary and I enquired about getting the money out before doing a transfer in and was told that I had to go to a branch. Not worth that much effort for $50. They did not even want to let me close the just opened account on the phone. They wanted me to go to the branch to unblock the account to close it!!!
    Had to speak to a supervisor and waste 20 minutes on the phone!

    • peterpeterpumpkin on 04/07/2016 - 15:41

      Yeah St George likes accounts to sit in their system inactivated for some reason. Same with credit cards. Probably to justify sending you junk mail.

    • grunge on 05/07/2016 - 09:50

      Hmm… didn't happen to me, altho' from all the posts here I was prepared for that eventuality.

      Maybe it's because I'm with Westpac. (Not for long tho'.)

  • c64 on 09/07/2016 - 13:47
    +1

    i was a customer 2 or 3 years ago and they have no details of me anymore.

    i got an error message right at the end: "Sorry, we seem to be experiencing problems. Please try again later"

    apparently stgeorge bank doesn't want customers

    • c64 on 10/07/2016 - 10:13

      i just got an email saying my account is open

  • thydzik on 01/08/2016 - 21:59

    anyone get their bonus yet?

    • Mysterious on 03/08/2016 - 01:06

      Nope. Forgot to transfer 2k now I'm $-5.00 oops. Hope they go through with the $50 bonus.

      • thydzik on 07/08/2016 - 17:14

        so you can go negative if you leave your account open and forget about it?

        • Mysterious on 07/08/2016 - 19:36

          Yeah. I even called and confirmed. If you kept it open for years you will keep getting charged.

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