News

Update to Fees and Charges

We are pleased to announce the following changes to our Fees and Charges; Removal of all Bank@Post fees (cash & cheque deposits, cash withdrawals); Reduction of Direct Debit Dishonour fee from $20 to $10.

Update to OSKO (Real time) limits in Mobile and Internet Banking

There are updates to the OSKO (Real time) limits in Mobile and Internet Banking.  The previous limit of $1,000 per transfer up to a maximum daily limit of $10,000, has now been increased to a new maximum limit per transfer of $10,000 up to maximum daily limit of $10,000.

This change means that members can organise faster transactions, with funds arriving at the destination account instantly if the transfer meets the new criteria.

You can manage your daily maximum limit through the App or Internet Banking by going to Menu > Settings > Manage Limits

Update to our Terms & Conditions of Use

We’ve updated our Account & Access Facility Terms & Conditions of Use effective 1 April 2023.

To help you understand the changes that may affect you, we’ve provided a summary of the key changes below. By continuing to operate your accounts with us, you agree to be bound by these Terms & Conditions of Use.

Changes to Joint Accounts

We have made some changes to the way that Joint Accounts will be set-up upon account opening, how account holders can make changes to the account, as well as actions the Bank may take in the case of a dispute between the account holders.

Cheques

We have included new information on how cheques operate, including timeframes for clearance, how to lodge stop payments, why a cheque may not be honoured and suggestions on how you can prevent your cheques being used by the wrong people.

Cancelling Accounts and Access Facilities

We may suspend or close your facility (including delaying not processing transactions), in order to protect you from potential harm (eg. Scams), or where we must do so to comply with our legal or regulatory obligations.

Account Statements

We are reducing our reliance on paper statements, and we will by default send account statements electronically, unless you otherwise direct us not to do so.

Complaints and Feedback

We have provided additional information on how we handle complaints and feedback, as well as where you can refer your complaints, including escalation points if you are not satisfied with the way we have resolved your complaint.

Terms of Use

We have incorporated and updated the following Terms for:

• Digital Wallets
• EFTPOS Secure and Visa Secure
• PayTo
• Term Deposits

We have provided instructions on how you can withdraw the whole or part of your term deposit early, as well as information about how this may impact on the interest that you earn.

What do I need to do now?

There is nothing you need to do – however, we encourage you to read the updated document on our website here.

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA on 7 March 2023 to lift the cash rate, Australian Military Bank will be making changes to a number of loan and deposit products. 

Variable home and investment loan interest rates (including DHOAS) will be increasing by 0.25% p.a. effective 23 March 2023, with repayments to change from 25 April 2023. This will apply to all new and existing variable rate loans. Members with a change to repayments will receive communication confirming their new repayments. 

We are also increasing the bonus rate by 0.25% on our Online Saver to a maximum rate of 3.75% (effective 1 April 2023), our DIY Super Saver to a new rate of 3.40% (effective 14 March 2023) which will be passed on to our existing members. New Term Deposit specials of 4.25% for 6 and 12 month will be available from 23 March 2023.  

We understand that successive increases to interest rates will impact our members with home loans. We encourage our members who may be experiencing difficulty in meeting their repayments to contact us on 1300 13 23 28 to discuss how we can assist. 

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 7 February 2023, Australian Military Bank will be making changes to a number of loan and deposit products.

Variable home and investment loan interest rates (including DHOAS) will be increasing by 0.25% p.a. effective 21 February 2023, with repayments to change from 28 March 2023. This will apply to all new and existing variable rate loans. Members with a change to repayments will receive communication confirming their new repayments.

We are also making changes to some savings products.  We are increasing the bonus rate by 0.25% on our Online Saver to a maximum rate of 3.50% (effective 1 March 2023), and our DIY Super Saver to a new rate of 3.15% (effective 13 February 2023). These increases will be passed on to all new and existing members.

We understand that successive increases to interest rates will impact our members. We encourage our members who may be experiencing difficulty in meeting their repayments to contact us on 1300 13 23 28 to discuss how we can assist.

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 6 December 2022, Australian Military Bank will be making changes to a number of loan and deposit products.

Variable home and investment loan interest rates (including DHOAS) will be increasing by 0.25% p.a. effective 20 December 2022. This will apply to all new and existing variable rate loans. Members with a change to repayments will receive communication confirming their new repayments.

We are also increasing the bonus rate on our Online Saver rate by 0.25% to a maximum rate of 3.25% (effective as of 1 January 2023), and our DIY Super Saver rates by 0.25% (effective 13 December 2022).  New Term Deposit specials of 4.00% pa for 6 months and 4.20% pa for 24 months will also apply from 13 December 2022.

We understand that successive increases to interest rates will impact our members with home loans so we encourage our members who may be experiencing difficulty in meeting their repayments to contact us on 1300 13 23 28 to discuss how we can assist.

AMB Holiday Schedule 2022-23

Dear Members, 

 

Across the upcoming holiday period our Australian Military Bank Member Engagement Centre and branches will have varied operating hours from the standard schedule, so please review the holiday schedule for your respective local Australian Military Bank branch and Engagement Centre below to stay up to date. 

2022 Annual General Meeting – Results

Australian Military Bank's 63rd Annual General Meeting was held on Wednesday, 23 November, 2022, in Sydney and via live audio cast with 76 members in attendance.

Two resolutions were carried by members and their proxies at the meeting. These resolutions were:

1. Directors’ Remuneration - Approval was given for the maximum aggregate remuneration of the Elected Directors to be $484,125 per financial year commencing in the current financial year ending 30 June 2023.  

2. Election of Timothy Pike - Timothy Pike was elected as an Elected Director in accordance with Rule 13.4 of the Bank’s Constitution

We would like to thank all those in attendance as well as all our members for their continued support for the Bank.

Detailed voting results are available here

Australian Military Bank Interest Rate Announcement

Following the announcement by the RBA to lift the cash rate on 1 November 2022, Australian Military Bank will be making changes to a number of loan and deposit products.

Variable home and investment loan interest rates (including DHOAS) will be increasing by 0.25% p.a. effective 15 November 2022. This will apply to all new and existing variable rate loans. Members with a change to repayments will receive communication confirming their new repayments.

We are also increasing our Online Saver rate by 0.25% to a maximum rate of 3.00% (effective as of 1 December 2022), and our DIY Super Saver rates by 0.25% (effective 8 November 2022).  New Term Deposit specials of 3.70% pa for 6 months and 4.00% pa for 12 months will also apply from 8 November 2022.

We understand that successive increases to interest rates will impact our members with home loans so we encourage our members who may be experiencing difficulty in meeting their repayments to contact us on 1300 13 23 28 to discuss how we can assist.

Duntroon Branch Upgrade – Branch Temporary Closure Notification