Bank of Melbourne Concession Account

transaction accountlinked accountstale

Concession Account is a transaction account from Bank of Melbourne.

Not ranked: a transaction (everyday) account, not a savings account.

Rate tiers

Every balance band in the bank's feed: base is the rate the bank pays.

No rate rows could be read from the feed for this product.

Conditions

• not updated by the bank since 2026-10-29, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed

Features

card

Visa Debit Card (or Freedom Card on request) if you have an Australian residential address. A new Freedom Card is not available unless you already have one linked to your account (e.g. existing Freedom Card holders may order replacement cards and renew their card).

app

yes

PayTo

yes

notifications

yes

transactions

unlimited

wallets

Apple Pay, Beem It, Google Pay, Samsung Pay

Other features, in the bank's words:

• Fraud Money Back Guarantee: Customers may be reimbursed for any unauthorised transactions provided that the customer has not contributed to the loss and contacted us promptly
• Digital Card - Boost your card security by using the dynamic CVV. Access your card details anytime, anywhere. Be assured that you will have uninterrupted access to your funds even if your card is lost or stolen.
• Bank of Melbourne has an extensive branch network that provides the complete range of banking services to our customers. Our friendly staff are on hand to help you in any of our branches and over the phone
• $0 dishonour & overdrawn fees: If you have insufficient funds in your account to cover the transaction amount or your account is overdrawn
• Statements: We will send statement every 6 monthly, or more frequently on request
• You can pay bills using BPAY

Fees, limits and who can open it

monthly fee

$0

other fees named

Foreign Currency Conversion Fee (no amount in the feed)

open to

personal customers

linked account

a linked or nominated transaction account is required

Who can open it, in the bank's own words:

• The Concession account is available to individuals who hold a Concession or Health Care card holder, receive an Australian Government benefit payment or be a low or no income earner.
• residency: Those with an Australian residential address and who are currently in Australia.
• The card must be linked to an eligible Bank of Melbourne account

About this account

A basic, low-cost account for individuals who hold a Concession or Health Care card, receive an Australian Government benefit payment that makes you eligible to hold a card, or are a low or no income earner.

Data

• Bank of Melbourne's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 29 October 2026.
• /au/finance/savings-accounts/v1/brands/bank-of-melbourne.json: this bank's accounts and every balance band as JSON; Bank of Melbourne's page lists them.
• The bank last updated this record on 29 October 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at Bank of Melbourne

• Business Access Saver savings account, 0.95% base at $50,000
• Incentive Saver savings account, 5.65% conditional at $50,000
• Maxi Saver savings account, 1.25% base at $50,000
• Retirement Access Account savings account, 1.73% base at $50,000
• Investment Cash Accountsstale cash management account, 0.10% base at $50,000
• Business Cheque Account Plusstale transaction account, 0.00% base at $50,000
• Complete Freedom Accountstale transaction account
• Freedom Business Accountstale transaction account, 0.00% base at $50,000
• Society Cheque Accountstale transaction account, 0.00% base at $50,000

All of Bank of Melbourne's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.