RAMS Transaction Accounts

RAMS is a provider of transaction accounts, as well as other banking solutions such as home loans, savings accounts and insurance.

Compare RAMS transaction accounts 

Considering a transaction account from RAMS? The table below displays a snapshot of RAMS transaction accounts on Canstar’s database. These results are based on a person in NSW with an average of 35 transactions per month.  

Click here to compare more products based on your circumstances.

What transaction accounts does RAMS offer?

As you can see in the table above, RAMS offers one transaction account at the time of writing:

RAMS Action Account

An everyday transaction account managed online via myRAMS with no monthly fee, minimum balance or fixed term requirements.

You can view the current Star Ratings and fees on RAMS transaction accounts in our comparison tables.

Does RAMS also offer savings accounts?

Yes, RAMS does offer savings accounts in addition to its transaction accounts – The RAMS Saver.

In order to get more out of a savings account with RAMS, you may need to link it with your transaction account. You do not, however, need to have a savings account with RAMS in order to use its everyday transaction account.

Considering a savings account from RAMS? The table below displays a snapshot of RAMS savings accounts on Canstar’s database. These results are based on a regular saver in NSW with $10,000 in current savings.

Click here to compare more savings accounts based on your circumstances and preferences. To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here.

Does RAMS charge fees on its transaction accounts?

Transaction accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. RAMS doesn’t charge any fees on its RAMS Saver account at the time of writing (16/08/18).

What does RAMS offer in terms of mobile banking for its transaction accounts?

RAMS offers both online and mobile banking for its transaction account products, with its app available in both the Apple and Google store. Notable features of RAMS’s mobile banking include:

• Intuitive design means simpler, faster access to key functions
• Check account balances and transactions
• Schedule and manage payments, including BPAY
• Transfer money between accounts or Pay Anyone
• Set your own RAMS debit card PIN

How to apply for a RAMS transaction account

Before applying for a RAMS transaction account, try to first compare it against others on the market to ensure it is the right one for you. You can then apply for a RAMS account online, provided you have the correct documentation:

• At least one form of ID, such as your driver’s license or passport
• Accurate personal information, such as your name, date of birth, address and phone number

Once your account is opened, RAMS does not require a minimum deposit in order to activate your account.

Related article: How to change bank accounts

Eligibility requirements

Before applying for a RAMS transaction account, you will also have to meet the following eligibility requirements:

• Be an individual who does not hold the account as a trustee of a trust or a superannuation fund, or on behalf of a deceased estate or pursuant to a power of attorney (two account holders allowed)
• Be an Australian resident for taxation purposes with an Australian residential address
• Be 18 years of age or over
• Hold a valid email address and Australian mobile number

What other banking products does RAMS provide?

RAMS provides a variety of different products to consumers, including:

• Home Loans
• Savings Accounts
• Insurance

About RAMS

Established in 1995, RAMS has been helping Aussies achieve the ‘Great Australian Dream’ by providing affordable, simple, yet flexible home loans.  RAMS is proud to be both ‘community-based’ and ‘community-focused’, with over 70 RAMS Home Loan Centres throughout Australia.