Service One Alliance Bank Savings Accounts

Service One Alliance Bank

Service One Alliance Bank is a provider of savings accounts, transaction accounts, term deposits, credit cards, home loans and personal loans.

What savings accounts does Service One Alliance Bank offer?

At the time of writing, Transport Mutual Credit Union offers three savings accounts:

  • Christmas Club Account: A savings account to help you manage your Christmas expenses. Funds are only available from 1 November to 31 January. No minimum balance is required.
  • Money Management Account: Requires a minimum balance of $2,000 to open and maintain, and $500 minimum deposits and withdrawals. Funds are available seven days after being deposited.
  • Senior Saver Account: A savings account for people who receive a Centrelink Age Pension. Features no minimum balance and funds available at call.

You can view the current interest rates of certain Service One Alliance Bank savings accounts in Canstar’s comparison tables.

Compare Savings Accounts

Do Service One Alliance Bank savings accounts require a linked transaction account?

Service One Alliance Bank does not advise whether its savings accounts require linked transaction accounts or not. Contact Service One Alliance Bank for more information. 

You can compare transaction accounts with Canstar here to potentially find one that suits your requirements.

Does Service One Alliance Bank charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. At the time of writing, Service One Alliance Bank charges no monthly account keeping or service fees on its Christmas Club Account and Money Management Account. Service One Alliance Bank does not state whether it charges account keeping fees on its Senior Saver Account.

What does Service One Alliance Bank offer in terms of mobile banking for savings accounts?

Service One Alliance Bank offers a mobile app, which is available from the App Store or Google Play. Features of the app include:

  • Check account balances and review transactions
  • Set up a quick balance view of your account
  • Transfer funds between Service One Alliance Bank accounts and other Australian bank accounts  

How do I apply for a Service One Alliance Bank savings account?

Before applying for a Service One Alliance Bank savings account, consider comparing it against other savings accounts on the market to ensure it’s the right one for you. 

Compare Savings Accounts

If you choose to apply for a Service One Alliance Bank savings account, you can do this at one of its branches or over the phone. You can also request a call via the Service One Alliance Bank website.

Service One Alliance Bank says you must be a member to open a savings account. Service One Alliance Bank says anyone can become a member by buying a share that costs $10.

About Service One Alliance Bank

Service One Alliance Bank was founded nearly 60 years ago as a community credit union in the South Coast region. Now, it services members across the country. In 2015, it established an alliance with Bendigo and Adelaide Bank becoming part of the Alliance Bank Group. According to the Alliance Bank Group, it is Australia’s first 100% member-owned alliance of social enterprise banks. The group says it collectively has over 40,000 members.

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Written by: Tamika Seeto | Last updated: June 21, 2019