Military Rewards Account
The perfect everyday spending companion, the Military Rewards Account features 2% cash back on Visa payWave purchases under $100, free rediATM withdrawals and our cents gifting program.
2% cash back on
Visa payWave purchases
Support for the
The Military Rewards Account is designed to reward you and the Defence community as you spend. It features:
- 2% cash back on Visa payWave purchases under $100 when you deposit at least $1500 each month^
- Free rediATM withdrawals*
- Cents gifting program to your choice of Defence charity
- No annual fee on the Visa Debit Card
- No monthly service fee when you deposit at least $1500 each month^
- No minimum balance to get started
- Visa Debit Card access including your choice of card design
- 24 hour access via internet banking, phone banking and mobile banking
- Direct debit and credit facility
- Make voluntary donations to pre-selected charity stream via Online Banking (desktop only)
1300 13 23 28 or by visiting your nearest branch.
Rates & Fees
Here’s a summary of the rates and fees for the Military Rewards Account:
- Interest rate: 0.01% p.a.
- Interest is calculated daily and paid monthly
- Monthly service fee: $4 where the minimum deposit is not met^
Everyday Banking Fees:
- Australian rediATM/NAB ATM transactions: Free
- BPAY® transactions: $0.60 each
- EFTPOS transactions: $0.70
Additional fees may be payable. For more information please see our Schedule of Fees and Charges.
Here are the top 6 questions we get asked about our Military Rewards Account. Can’t see your question? Read the full set of FAQs here.
How can I have my monthly service fee waived?
When you deposit a minimum of $1,500 per calendar month (for example your salary) to your Military Rewards Account, you’ll have the $4.00 monthly service fee on your account waived.
When does the cash back amount appear in my account?
Cash back on Visa payWave transactions will be credited on a monthly basis and are paid in arrears. This means, you'll receive cash back at the beginning of the month for any eligible transactions incurred during the previous calendar month.
What kinds of transactions are eligible for the 2% cash back?
You can receive 2% cash back on all Visa payWave purchases under $100 (such as groceries, petrol, clothing, entertainment and transport) when you deposit $1,500 or more per month from an external source, into your Military Rewards Account.
How does the cents gifting program work?
Each month, Australian Military Bank will transfer your ‘spare change’ (i.e. the cents on your account balance up to 0.99c) to a Defence related charity selected by you. Australian Military Bank will then match, dollar-for-dollar, the money donated each month and contribute this directly to the specified charities.
What charities can a member choose from?
You can choose to donate their ‘spare change’ to one of the following organisations:
- Mates for Mates
- Soldier On
Alternatively, you can donate your ‘spare change’ equally across all four worthy organisations
Can I donate more to my selected charity stream?
Military Rewards Account members can make voluntary donations to their pre-selected account charities through their Online Banking portal. This will be presented at login or can be found in their Inbox > Offers (in Online Banking). This facility is only accessible via desktop. Not accessible through mobile app or mobile/tablet iteration of our Online Banking portal. Voluntary donations are not matched by Australian Military Bank.