13 12 21
Phone enquiries are available 8am to 7pm, weekdays and
9am to 3pm, Saturday.
Our offices are open Monday to Friday from 9am to 5pm.
With this account, you have full control - you can transfer funds, check your balance and more. It's simple to open in internet banking and only takes a few minutes.
$2k and over
Staff Assist Fee
If you like the convenience of saving online and to be rewarded with a high interest rate, the Online Savings account is the solution.
For full details of our fees please review the Fees and charges brochure.
To open an Online Savings account, you need to be a member of Teachers Mutual Bank and an internet banking user.
If you do not have access to internet banking, register today to open your Online Savings account.
Opening an account online is easy and only takes a few minutes.
Become a member and we will guide you through the process to open your new account.
Join online today
With this account, you have full control – you can transfer funds, check your balance and more. It’s simple to open in internet banking and only takes a few minutes.
You must be a Teachers Mutual Bank member and registered to use Internet Banking.
This account can only be opened online in internet banking. Go to Account Information then to Open Account and follow the prompts. It only takes a few minutes.
Interest is calculated daily, tiered and credited monthly. Refer to interest rates on this website for the current rates.
You will receive confirmation that the account is opened at the end of the application process. When you select the Finish button, the account is ready to receive deposits.
The account can be opened with a maximum of 2 account holders who both need to be Teachers Mutual Bank members. If you choose to open the account where both account holders need to authorise withdrawals, you will both be prompted to enter your internet banking access code on the same computer at the time of opening.
No. This account cannot be linked to another Teachers Mutual Bank savings account.
Every dollar earns interest from the day it is deposited.
Yes. You can open up to 9 accounts.
Transactions can be done by internet or phone banking. To link your new Online Savings account to phone banking, contact us here.
You can transfer funds to and from your Online Savings account and your other accounts through internet and phone banking. In Internet Banking, select:
There is no minimum deposit required to open this account or to keep it opened. No maximum balance applies to this account however if there is a nil balance in the account for 3 months, we may close the account.
There are no minimum deposit or withdrawal restrictions.
Yes. You can set up regular deposits from any of your Teachers Mutual Bank savings accounts to go directly to the Online Savings account. Do this in internet banking. Select Payments and Transactions then Transfers.
You can also have all or part of your pay or other income directly deposited into this account. Contact us for a form.
You can have an automatic deposit into your Everyday account and then transfer to your Online Savings account by internet or phone banking. Alternatively, by using your account reference number, you can credit funds directly into this account. Contact us for more details.
Use internet, phone or SMS banking. For staff assisted transactions over the phone or at our offices, a staff assist fee of $3.00 applies.
No - this account is an internet banking account designed to work with your other Teachers Mutual Bank accounts, so cheque books and cards cannot be issued.
Your Online Savings Account transactions are listed on your monthly statement.
It is optional, however if you don’t quote your TFN you may have to pay withholding tax on any interest earned.
Yes, however the TFN advised will only be updated on your Online Savings account. Contact us to update on your TFN on your other accounts.
There are no account keeping or transaction fees, however if you require staff to help you with this account over the phone or at our offices, a staff assist fee applies. This fee includes, but is not limited to balance enquiries, transaction enquiries, transfers and cheque deposits. The fee will not apply for pay or income reallocation, TFN lodgement or on closure of the account.
No, sweep is not available.
Conditions of use - Accounts and access Fees and charges