Transaction and Savings Account

Personal customers over the age of 18 who are either an Australian Permanent Resident or Citizen can apply. Business and Trust customers are not able to apply; however, we have other options available to suit your needs.

If you’re an existing Bank of Sydney customer, all you need is your contact details and your Bank of Sydney Transaction Account Number.

If you’re a new customer, you’ll need your contact details, Australian Identification (Driver’s license or Passport) and TFN on hand.  You don’t have to quote your TFN, however if you choose not to quote your TFN or eligible exemption, any interest payments may be taxed at the maximum rate. We recommend you obtain your own independent tax advice.

All applicants will also need existing Account Details (BOS or another financial institution) to complete the Linked Account Details Section in the application form. Visit your nearest branch to apply.

You’ll need to deposit a minimum of $1,000 into the account within 10 business days. If the funds aren’t deposited within this period, the system will automatically close the account.

Note: only balances between $5,000 to $5,000,000 are eligible to earn interest.

Interest is paid on balances between $5,000 to $5,000,000.

Interest is calculated daily from the date funds are deposited into your account, and paid monthly.

Once funds are received into your BOS Saver Account, an Everyday Saver Account will be opened.

We open an Everyday Saver Account with every BOS Saver Account so that you can access your savings as and when you need. You can also link a Visa Debit Card to your Transaction Account to make accessing your funds for day-to-day purchases easy.

The easiest way to withdraw funds from your BOS Saver Account is via Internet Banking. Once you’ve transferred your savings to your linked Transaction Account, you can transfer funds to another financial institution or use your Visa Debit card to make purchases, or withdraw cash via an ATM.

Please note: if you’d like to withdraw your funds in branch, a $5 Branch Assisted Fee will be applied.

Internet Banking details will be provided within 24 hours of your account being opened.

We’ll send you a temporary username via email, and a temporary password via text message. You’ll be prompted to change your password on first login, and can change your username at any time under ’Settings’ in Internet Banking.

We’ll send you monthly statements for Everyday Saver, Easy Life Account, and BOS Saver accounts; quarterly statements for Retirement accounts; and every six months for Student accounts. If you have a linked Visa Debit card, we’ll send you monthly statements for the card.

You may choose to open an account with someone else. If so, you can choose to provide full access to both account holders to transact independently, or you may request to configure your account so that both account holders are required to approve transactions (two-to-sign authority).

If you’re applying for an account with two or more applicants, any one of the applicants will be able to operate the account on their own (also known as ‘Either to sign’ operation). This means that any account holder can transact on the account without the permission of other account holders.

If you would like a different mode of operation applied to your new account, please contact us on (13 95 00) to discuss your needs.

Our Visa Debit card is available with the following accounts:

  • Everyday Saver
  • Retirement Account (withdrawn from sale)
  • Student Savings Account (withdrawn from sale)
  • SmartNet Account
  • Easy Life Account
  • Everyday Main Account

The Everyday Saver Account is available if you either have an existing Bank of Sydney account, or open a new account, which is one of the following types:

  • Term Deposit
  • BOS Saver Account
  • Any Bank of Sydney Home Loan

We're here to help

Ask questions or give feedback via our online enquiry form.

Talk to one of our friendly staff Mon - Fri, 9am–5pm AEST.