St.George Incentive Saver

Good Savings Account – Bonus interest turns this into a good savings account currently (Jan 2025). As long as you take note of the balance at the start of the month and make sure the balance is $50 higher at the end of the month, it’s easy to give your savings a significant boost. Very simple to stay on top of. Well done St George

Tricky rules regarding high interest accounts – When I was introduced to St George Incentive Saver by a Customer Service Specialist the terms and conditions were not explained fully and with hindsight were ambiguous. I did not receive a copy of the terms and conditions as claimed by St George when I took my complaint to AFCA, the problem was I lost the bonus interest for the month because I… Read more

withdrew a portion of the funds on the wrong day. My complaint was dismissed by AFCA and it proved too difficult to continue with the amount of correspondence involved.

Not the bank it once was – I agree with the person about St George and Sunday end of month. Have just been told the same rubbish. Also have accounts with them which I will remove to another bank after having been with them for well over 20 years. Have had to phone and wait for long periods before about non payment of bonus interest. This bank is certainly not doing its… Read more

customers any favours and the attitude from senior bankers is beyond belief. The end of the month is the end of the month no matter what day it falls on. Do they think we are all fools who swallow their lies.

St.George Incentive Saver Account - who is a "New Account"? – I have a St G credit card, thus I am a customer, but I don't have any bank accounts. Am I a "new account" and eligible for the introductory bonus in the St.George Incentive Saver Account

Competitive rate with no hoops – At last St. George are offering a decent rate of interest, and all you have to do is grow the account balance by $50 a month. Well done St. George !!!!

Terrible inconsistent bonus interest execution & phone advice, slow follow up support – A very confusing erratic product that sometimes does not give you the bonus interest even if you followed the rules to qualify for it. For the 2nd month in a row I get no bonus interest after checking with the bank over the phone beforehand to make sure I am calculating figures right. Been waiting over 2 weeks for a case specialist who emailed… Read more

as a result of my phone call, to respond. Their email signature was from Westpac. They said they received the complaint on the 7th of the month even though I made the call on the 1st of the month. It’s now the 15th of the month & still no further contact.

The previous month, the bonus interest did not get paid after some weird rule about the last day of the month falling on a Sunday. The branch manager helped get the bonus interest after 10 days. That was last month.

But this month, when I went to Macquarie branch yesterday on the 14th to explain that bonus interest was not given again, the staff said they already helped me last month & won’t help this month because I should do my transactions at least 4-5 business days before the end of the month (contrary to St George business specialist advice that said it does not matter whether the first or last days of the month fall on a weekend, it’s the actual date that matters so as by the end of a month you have $50 or more increase in the account balance, you get the bonus interest). This is misleading to claim or advertise plainly how to get the bonus interest but then not have the support to correct & honour it practically when the computer system doesn’t give the bonus interest even though I followed the rules & double checked with phone staff from the bank beforehand to ensure I qualify for it. If you followed the branch staff advice, you’d be missing out on a few days’ interest every month. Considering leaving St George after 20+ years of having multiple work & family accounts with them.

Easy to set up – Whilst this account was easy to set up it is pretty useless. It has low interest and you can get much better interest elsewhere. It is easy to use though, you can just set up a direct debit to help you save. St George give good service and have better products. This is a good basic account, but you can't use it for every day or you will incur… Read more

fees.

As far as accounts you can deposit into in the branch it is ok, but I would look around for better options to make your money grow and earn interest. Easy to use Low interest

Excellent – Perfect account for our needs - We do 100% of our banking online so now instead of paying the $6 a month account fee we average about $2.60 a month in EFT fees and that's all! The savings are peanuts really but the money's better in your pocket than in the banks!!! Although touted as a savings account it makes a VERY handy day to day banking… Read more

account (assuming 90% or more of your banking is online and you don't use your card for EFTPOS (that's a $1 fee)). There is no monthly fee (as opposed to $5 or even $6 per month for other bank accounts), no minimum balance to keep and you get one free transaction per month. After paying $6 per month we re-assessed our needs and this account hit the nail on the head. $0.20 per EFT online transaction (e.g. bpay bills etc) or transferring funds. You can also get a VISA debit card linked to the account which is free to use like a credit card only it's your money. None to speak of but we make it a habit of using our 1 free monthly transaction allowance at a St George ATM because it has to be the FIRST transaction of the statement period, otherwise will cost you $1.