This was posted 1 year 10 months 23 days ago, and might be an out-dated deal.

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Deposit $50 into a New Bonus Saver Account and Get a $50 Bonus (First 2,500 Eligible Customers) @ MyState Bank

2020
Deposit $50 into a New Bonus Saver Account and Get a $50 Bonus (First 2,500 Eligible Customers) @ MyState Bank
Go to Deal
kickling on 29/01/2023 - 10:53 mystate.com.au (5474 clicks)
Last edited 30/01/2023 - 10:06 by 3 other users

Easy to sign up. Almost instant.

Go forth. Be Merry. Enjoy.

(I say "New Customers" but it appears you just have to "do not currently hold a Bonus Saver Account")

Screenshot here for records : https://files.ozbargain.com.au/upload/107051/101340/capture.…

This promotion is available to new and existing customers who are Australian residents aged 18 years or over (as at the date of the Promotion Period), do not currently hold a Bonus Saver Account; and open a new Bonus Saver Account and deposit $50 into the Bonus Saver Account between 27 January 2023 and 28 February 2023, inclusive (Promotion Period). The first 2,500 eligible customers will receive a $50 bonus from MyState that will be deposited into their Bonus Saver Account within 15 days of the promotion end date. Max of 1 bonus per customer. Refer to the Bonus Saver Account Terms and Conditions for further information. Directors and employees of the MyState group (MyState Limited, MyState Bank Limited and TPT Wealth) and members of their respective families (spouse, de facto, parent, grandparent, child, stepchild, brother or sister) are not eligible for this promotion. MyState group may amend or withdraw this promotion at any time without notice.

Referral Links

Referral: random (2)

Referrer and referee each receive $50 after referee deposit $20 in their Bonus Saver account, and make at least 5 eligible VISA debit card transactions from their linked MyState transaction account in the same month.

Each referrer can refer up to 5 referees.

Financial Bank Account Instagrampost Savings Account Tiktokpost

Related Stores

MyState Bank
MyState Bank

closed Comments

  • impoze on 29/01/2023 - 11:16
    +3

    What if we did the recent $50 promo

    • coast666 on 29/01/2023 - 11:55
      +3

      same here, probably not meet the requirement this time

    • CyberMurning on 29/01/2023 - 16:35
      +1

      I dont think they will happy to gove 50 again.
      I have got it and closed my account weeks ago

  • Dr-Bargain on 29/01/2023 - 11:17
    +4

    It took like 30 days after completing the requirement but I finally received my 50 bonus. Can recommend them

    • Murkymerv on 29/01/2023 - 12:54
      +4

      You can recommend because of $50.00 or because they're a competitive bank with good customer service?
      After all , this website relishes free money !

      • Rebu on 29/01/2023 - 14:51
        +5

        What? You were looking for good customer service in bargain website?

  • Sweet3st on 29/01/2023 - 11:19
    +11

    Thanks OP but I can't transfer into new account, I just get invalid details :(

    • mopo on 29/01/2023 - 11:32
      +3

      Same issue here. Transferring from Up bank.

      • mopo on 29/01/2023 - 22:00

        And now it works

    • Yoo on 29/01/2023 - 11:32
      +2

      Same I can't transfer. Both bonus and glide accounts.

    • Junk Sifter on 29/01/2023 - 11:43
      +6

      They don't accept OSKO payments. I had to resubmit the transfer.

      • ujwols on 29/01/2023 - 11:48

        from which bank did you transfer?

        • Junk Sifter on 29/01/2023 - 16:03

          St George. Notification popped up saying to resubmit and it will be processed as per payment processing times.

      • UrMumsOnlyFan on 29/01/2023 - 11:55
        +5

        Thanks, not a great introduction to their banking experience.

      • Sweet3st on 29/01/2023 - 11:56

        I just did a NetBank transfer but there's a 24 hour hold as it's a new payee ☹️. Is there a better way???

        • Emeister on 29/01/2023 - 12:15
          +4

          Tried NetBank transfer to both accounts (Bonus and Glide) both showed as processed but both bounced back immediately. No joy transferring from ING at all.

          • daleroy1234 on 29/01/2023 - 12:24

            @Emeister: Mine bounced as invalid payee as well. Will wait 24 hours and try again

          • I like freestuff on 29/01/2023 - 12:40
            +8

            @Emeister: Anyone with CBA - setup a scheduled payment and it will go through as a normal transfer. Had the same issue in the last thread. Not sure if other banks are the same in that scheduled transfers don’t use OSKO or not.

            • Jayblesz on 29/01/2023 - 12:55
              +1

              @I like freestuff: Yep can confirm NAB works this way too! I used this method with the last IMB deal I think… or the one with the Maroon's debit card… or both, can't remember!

            • timhn on 29/01/2023 - 13:02

              @I like freestuff: Yep. Just do schedule transfer and it wont be with osko. Seems that the default with any banks .

            • daleroy1234 on 29/01/2023 - 13:48

              @I like freestuff: Thanks mate!

      • richybargain on 29/01/2023 - 16:05

        They DO accept Osko payments!

        Proof: You can register a PayID.

        I am also in the same boat as everyone here.
        My new Bonus Saver and Glide accounts reject Osko instant transfers, and PayID registration is also being denied.

        However, today is Sunday.
        I bet tomorrow that someone at MyState Bank (a small credit union) has to 'process' our (tens of?) thousands of new accounts and turn Osko on. Haha.

        • buthidae on 29/01/2023 - 16:18

          Mine didn't work this morning when I signed up, but after a couple of hours seems to be fine

        • Reginald7711 on 29/01/2023 - 17:11
          +1

          first. PayID and Osko are separate things. Having a PayID doesn't mean the bank supports Osko payments.
          (see: https://osko.com.au/faqs How does PayID work with Osko?)

          second. The two accounts you need to create for this deal seemingly do not support PayID anyway. After navigating to the PayID screen, it simply says that you do not have any accounts eligible to attach a PayID to.

          third. It would be really silly to require some overnight batch to 'turn on' real time payments. It's like saying, you've got an EV, but you just need to put petrol in it to get it to start up.

          • richybargain on 29/01/2023 - 22:50

            @Reginald7711: I agree!
            It would be ridiculous.
            But I bet many of us will be able to assign a PayID to either account by tomorrow.

            P.S. Are you sure about PayID and Osko?
            I know they're 'separate,' but a bank can't offer one without the other, right?

            Referencing that URL:
            "Just ask the person you want to pay if their bank offers Osko Payments. Then you can ask for their PayID."

            • Reginald7711 on 30/01/2023 - 08:20

              @richybargain: Yeah I’m sure. NPP and PayID and Osko are all seperate. You can have payments going via NPP and PayID without ever having Osko involved.

    • Jayblesz on 29/01/2023 - 12:45
      +5

      If they don't accept OSKO payments, try doing a scheduled transfer (from most banks they usually do the old way of transferring instead of instant payments like OSKO). Wait a few days and it should work. I can confirm it works this way transferring from a NAB account on a scheduled transfer anyway!

    • epicfacepalm on 29/01/2023 - 12:57
      +2

      You can also transfer enough money among your own bank accounts so that you max out that account's PayID limit for the day, and then subsequent transfers will go through the old BSB/account number routing. For example, on an ING account, transfer $1k to another account that you control, then pay another $50 into the MyState account and it should work.

      • movieman on 29/01/2023 - 16:44

        Perfect.

        This workaround finally worked.

        At last there's a good thing to OSKO limits haha

        Thanks!

    • JTR on 29/01/2023 - 21:10
      +1

      Tried to transfer from Macquarie bank to both accounts a couple of days ago. So far nothing but crickets. Managed to transfer from Westpac today without problems. Funny that, as Westpac rejected payment to a commonwealth account because it didn't have osko payments. Leaves me confused…

  • furakoph on 29/01/2023 - 11:25
    +2

    Would this be taxable income?

    • I like freestuff on 29/01/2023 - 11:53
      +2

      No.

        • spaceflight on 29/01/2023 - 14:16
          +4

          Why? It answers the question.

        • I like freestuff on 29/01/2023 - 17:12
          -1

          Of the thousands I’ve now received in cashbacks like this I have never been taxed on it or heard about anyone else being taxed either.

    • tharlow on 29/01/2023 - 15:20
      -7

      Of course. Since this is paid in response to an action you took (i.e., you applied to open an account with MyState), it is considered taxable income

      • cook99 on 29/01/2023 - 16:58
        +6

        ATO specifically states cashbacks are not taxable income and I'd say this falls within that category.
        Would potentially be taxable if earned in the course of running a business activity.
        Has nothing to do with 'actions you take'

        • tharlow on 29/01/2023 - 17:11
          +1

          A cashback on zero outlay? You’re on shaky ground…

          • wangasm on 29/01/2023 - 20:16
            +1

            @tharlow: Outlay has nothing to do with it either, it's based on the nature of the interaction. (Also technically the outlay is the initial $50 you need to deposit)
            This is no different from regular cashbacks and rewards programs. Here if you are still not convinced:
            https://community.ato.gov.au/s/question/a0J9s000000MmCSEA0/p…

            • tharlow on 29/01/2023 - 20:46
              +2

              @wangasm:

              Also technically the outlay is the initial $50 you need to deposit

              It’s a deposit. It’s 100% withdrawable.

              Thus, link seems irrelevant

  • szy2k on 29/01/2023 - 11:31
    +1

    Can I deposit the $50 directly into the bonus saver account electronically or it has to go through the Glide account and then transfer into it?

    • Yola on 29/01/2023 - 11:53
      +3

      You can deposit directly into the bonus saver.

      • szy2k on 29/01/2023 - 11:55

        Thanks!

  • jenovax1 on 29/01/2023 - 12:03
    +2

    The signup process is easy and got both the saver and transaction account opened up instantly.

    Transferring money into the account can't be done via OSKO though and I tried with St George and MQ Bank. Will see if it goes through on Monday.

    • SoapyWooder on 30/01/2023 - 17:39
      -1

      Sign up is easy, problem is to close the account.

      • YesPleaseThankYou on 30/01/2023 - 17:56

        Why is it a problem? I'm sure I read in the FAQ that you just need to message them.

  • team teri on 29/01/2023 - 12:08
    +12

    " The first 2,500 eligible customers will receive a $50 bonus", with no way of knowing how many are already gone, that's a lottery…

    • I like freestuff on 29/01/2023 - 12:17
      +1

      Well last time they did this they were still at 50% when the promo ended so I’d say you will get it.

  • roshanrbb on 29/01/2023 - 12:08
    +3

    Says first 2500 accounts only though so how do we know if that's already up?

    • King Tightarse on 29/01/2023 - 12:12
      +3

      right could already be over for all we know

      • I like freestuff on 29/01/2023 - 12:19
        +4

        Doubt it. Last time they ran it they only got to 50%. Someone called up in the last thread and I sent an email a couple of weeks before it ended as well (two weeks after someone called up) and they still replied they were only about halfway. Wouldn’t be surprised if it was just marketing BS to make you “hurry” and sign up.

        • Rockhard on 29/01/2023 - 19:35

          While it may be true last time, they're advertising this in TV now during Australian open Finals, I just saw the Ad 2 minutes ago on Channel 9. If only 1% of the viewers take up on this offer coupled with all ozbargainers, the slots will be filled pretty quicky. Taking into account OSKO transfers are not working many of us will be behind the queue

  • Optimus Prime on 29/01/2023 - 12:25

    Thanks OP. Opened account and transferred - no big deal if the 2500 account cap is reached . worth a punt for $50.

    • Ntsh on 29/01/2023 - 12:28
      +2

      how you transfer? All my attempts (ANZ, Ubank, ING) bounced.

      • Optimus Prime on 29/01/2023 - 12:31
        +1

        Osko is not supported just did normal transfer.

        • Mokr on 29/01/2023 - 12:44

          normal transfer

          How do you do a normal transfer?

          • timhn on 29/01/2023 - 13:05
            +1

            @Mokr: Schedule for next day.

  • Sweet3st on 29/01/2023 - 12:30
    +3

    No OSKO 😣

  • payless69 on 29/01/2023 - 12:38
    -1

    No age discrimination: THANKS

    But Tassie is an aged home.

    Everybody had a 4% account so what is the point?

    • Thrifty Dan on 29/01/2023 - 13:09
      +1

      But I heard they like trout very much!

    • tessel on 29/01/2023 - 15:23
      +1

      What did I just read…

      • payless69 on 29/01/2023 - 15:24

        Not trout but Salmon! and what brand?

        • tessel on 29/01/2023 - 15:25
          +1

          Please make it stop…

  • YesPleaseThankYou on 29/01/2023 - 12:58
    +1

    My Osko payment was also rejected. The rejection code was AC27. This page provides a little extra information on the code:

    RJCT AC27 - Invalid Creditor Account Customer to check payee account and send new payment if applicable

    I sent the payment through as an old-style direct credit. Funds will hit the account tomorrow or after Monday night processing.

  • YesPleaseThankYou on 29/01/2023 - 13:01

    I notice the promotional terms state:

    deposit $50 into the Bonus Saver Account

    It doesn't say 'deposit a minimum of $50', though I suspect that was MyStateBank's intention.

  • GimmeCashback on 29/01/2023 - 13:01
    +7

    Worth a punt for $50. Especially since Medibank gave away my details for free.

    • repeat on 29/01/2023 - 16:44

      Thinking the same. May as well get the $50 before the hackers do it in my name.

  • Thrifty Dan on 29/01/2023 - 13:05
    +3

    Doesn’t accept my valid drivers license. I recently got a new one after the Optus breach…. Doesn’t accept my valid foreign passport. Does accept Medicare but that’s about it. What a waste of time for not even getting $50.

    Ouch!

    Sorry, an error has occurred while trying to complete your identity verification. Please try again later.
    Alternatively, give us a call on 138 001 during business hours to help you open your account.

    • argonide on 29/01/2023 - 13:12
      +4

      Didn't accept my SA driver's license, kept telling me there was a problem with the card number. Tried it as the whole number, then without the letter at the front and then without the letter and proceeding zeroes.

      Ended with the same Ouch! error.

      • Thrifty Dan on 29/01/2023 - 13:14

        From which state are you? SA here…

      • Thrifty Dan on 29/01/2023 - 13:50

        Maybe it’s about that my license expires soon? Expiry 16/3/23. Still doesn’t explain why it doesn’t accept my passport valid 2 more years.

      • kickling on 29/01/2023 - 14:12

        Yes, I also had trouble with drivers license. Had to use passport and Medicare

      • hamza23 on 29/01/2023 - 14:16

        Same issue in SA here. DL doesn't expire for many years also.

      • [Deactivated] on 29/01/2023 - 14:42

        They want your old license… because "security" lol.

    • payless69 on 29/01/2023 - 15:29

      Singel is now giving your "alien" passport details to Xi?

  • Duckbringer on 29/01/2023 - 13:23
    +2

    It you can't do OSKO, try Beem It to the bank account. That's what I did with IMB, similar deal. They said they can't do OSKO until I go in-branch for an ID check.

    • SmokeyTheCorgi on 29/01/2023 - 19:15

      How do you beem it to the account? I have the app and you can't transfer to a BSB / Account number, only a contact (on Beem) or BPAY from what I can see?

      • Duckbringer on 31/01/2023 - 15:11

        Hey sorry, I misspoke - I transferred it to the card linked to the account, which I added to my account.

  • zooter on 29/01/2023 - 13:34

    I did a transfer into the Glide account, not the savings account. Should I do another transfer from an external account for $50 or is it ok to transfer from Glide to Savings?

  • Thrifty Dan on 29/01/2023 - 13:42

    Sounds all a bit hard to even transfer money to them! Maybe they want only Tasmanian customers coming into their branch? They can keep it…

  • NotAMoodle on 29/01/2023 - 14:11

    Mine went through no worries, Wife's is under review. Probably flagged because of same house address / IP within 5 minutes. Anyone else experience this?

    • D-Train on 29/01/2023 - 14:12

      Same thing just happened to me.

    • avoidfullprice on 29/01/2023 - 14:35

      Mine is under processing. No one else in my household is applying. Been 30 mins of wait so looks like have to wait till next business day

      • avoidfullprice on 30/01/2023 - 15:20

        Just got approved and able to osko $50 into the bonus saver account 👍

        Now to wait til mid march

    • OnTheMark on 29/01/2023 - 14:53

      Same here - I had the same thoughts.

    • Gavman on 29/01/2023 - 16:14

      Same here. Probably a rush of accounts getting created

  • kickling on 29/01/2023 - 14:13
    +1

    Fyi I signed up and transferred from ING and it went by osko.

    • nightqueen on 29/01/2023 - 15:33
      +2

      Hmm my ing won't let me transfer money over

    • SJ50 on 29/01/2023 - 15:38
      +1

      Which account did you made a transfer? Glide or Bonus Saver?

      • kickling on 29/01/2023 - 16:57

        Bonus saver.

        Initially I did get a failed transfer / incorrect account error, but I waited a minute and tried again and it went through

      • nightqueen on 29/01/2023 - 19:53

        I tried both and failed

  • Fastbed on 29/01/2023 - 14:43

    Is there any harm if you have more than three debit card?

    • Aureus on 29/01/2023 - 14:55

      No

    • [Deactivated] on 29/01/2023 - 14:57
      -6

      Klaus Schwab and the WEF haven't ordered the Australian Government to outlaw that yet. It's planned for just before their oxygen tax comes in.

    • timhn on 29/01/2023 - 15:08
      +2

      It's linked to your own money so nothing harm, except that you could loose tract how much in each account.

      FYI, except CommBank, i may have over 7-8 debit cards with the major banks.

  • [Deactivated] on 29/01/2023 - 15:04

    Didn't receive the temporary password via SMS. Does it come right after applying?

    • kickling on 29/01/2023 - 16:58
      +1

      Correct. It should

      • [Deactivated] on 29/01/2023 - 22:04

        Thanks.

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