Bank Australia Ltd

Bank Australia Ltd
Responsible Banking

Bank Australia Limited (formerly Bankmecu) is one of the largest mutual banks in Australia with approximately 150,000 members, 400 full-time equivalent employees and 14 branches across the country. It provides high-quality banking products and services including transaction and savings accounts, term deposits, consumer and commercial loans, car loans, mortgage lending, refinancing, low rate and rewards credit cards, Visa debit cards, phone and online banking, mobile banking app, foreign exchange, international money transfers as well as home, travel and car insurance. Moreover, you can make deposits through Australia Post. More than 50% customers consider Bank Australia to be their main financial institution. 86% customers are satisfied or extremely satisfied with Bank Australia. Less than 7% reported being dissatisfied. The company was formerly known as Bankmecu and changed its name to Bank Australia in August 2015. Bankmecu (previously Members and Education Credit Union) became first customer-owned bank in Australia in 2011. For the year ended 30 June 2020, Bank Australia reported total revenue of $131.4 million, profit after tax of $19.6 million, total assets of $7.2 billion, deposits of $5.9 billion and customer loans of $5.6 billion.

 Savings Accounts Rates

Savings Account Interest rate
Online Saver 0.20% p.a.
Christmas Saver 0.20% p.a.
Bonus Saver 0.50% p.a.
MySaver 0.70% p.a.

Rates are valid as of September 1, 2021

Credit Ratings:
Standard & Poor’s: BBB/A-2/Stable
Moody's: Baa1/P-2/Stable

Bank Australia Branches

Head office address:
222 High Street Kew
Victoria 3101

Phone number: 132 888
BSB number: 313 140
ABN: 21 087 651 607
Opening Hours
Monday - Friday, 9 am - 5 pm

Last updated September 2, 2021