The Customer Owned Bank Australia.
Bank Australia was created in 2015, although the business actually began in 1957 as the CSIRO Co-operative Credit Society.
It became a bank after joining with 72 credit unions and other co-operatives to become Australia’s first customer-owned bank, eventually under the name ‘Bank Australia’.
Being owned by their customers, who are technically the banks shareholders, their profits are considered to be returned to customers through better rates and fees.
Bank Australia has 14 branches located across Australia, but they do say that you can use any of the big four bank ATMs for free.
They do provide online and mobile app banking.
Bank Australia: www.bankaust.com.au
Bank Australia credit cards.
Bank Australia offers a few credit card options, with and without annual fees.
Bank Australia No Annual Fee credit card.
- No annual fee.
- 55 days interest-free on purchases, if you pay your balance in full by the due date on each statement.
- 12.39% p.a. variable rate for both purchases and cash advances.
Bank Australia Low Rate Visa Credit Card.
- $59 annual fee.
- 9.39% p.a. variable rate for both purchases and cash advances.
- 55 days interest-free on purchases, if you pay your balance in full by the due date on each statement.
Bank Australia Platinum Rewards Visa Credit Card.
- $189 annual fee.
- 18.24% p.a. variable rate for both purchases and cash advances.
- Earn 0.75 Qantas Points for every $1 spent.
- 55 days interest-free on purchases, if you pay your balance in full by the due date on each statement.
www.bankaust.com.au/…/credit-cards
Always check current interest rates and fees with the official bank sites, as rates and fees can change at any time.