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Bank accounts designed for Queenslanders like you

At RACQ, you’re not just a customer – you’re a member. When you open a bank account with RACQ Bank, easy access and low fees are just the beginning. You’ll also tap into the discounts, benefits, and outstanding customer service our members having been enjoying for over 115 years. Our low-fee bank accounts are one of the ways we reinvest profits back to members, because you deserve to get ahead.

Compare bank accounts: Transaction accounts

Get ahead with our day-to-day bank accounts.

Everyday Account

Choose a bank account that simplifies everyday spending

Combine modern banking features, true customer service, and member benefits in an account that rewards you daily.

  • Enjoy device payment with Apple Pay, Google Pay™ and Samsung Pay*
  • Access your money anywhere with internet banking and the RACQ Bank app
  • $0 Minimum monthly deposits
 
$0
Monthly account keeping fees
$0
Everyday transaction fees

Advantage Plus Account

Over 55? Spend smarter and save wiser with just one bank account.

Know RACQ Bank is here to make your day-to-day payments and purchases more convenient and your savings goals easier to reach.

  • Start your savings journey straight away with no minimum opening balance
  • Access your money 24/7 using internet banking or the RACQ Bank app
  • $0 Minimum monthly deposits
Earn up to
0.40% p.a.
Interest rate
$0
Monthly account keeping fees

Compare bank accounts: Savings accounts

Turn deposits into dreams with savings accounts that put you in control.

Bonus Saver Account

Open a savings account designed to help you reach your short and long-term goals sooner.

Reach your next financial milestone with bonus interest that rewards your hard work.

  • Base interest rate of 0.01% p.a.
  • Start saving now with no minimum opening balance required
  • Get instant account access using internet banking and the RACQ Bank app
Earn up to
0.70% p.a.
Bonus interest rate
$0
Monthly account keeping fees

eSave Account

Grow your money with a savings account you can keep tabs on any time, any place.

Enjoy flexible internet banking and collect interest on your savings with our online savings account.

  • Earn an interest rate of up to 0.20% p.a.. on balances $5000 and over
  • Enjoy making unlimited deposits and withdrawals without affecting your interest rate
  • Manage your money anywhere, anytime with internet banking and the RACQ Bank app
Earn up to
0.20% p.a.
Interest rate
$0
Monthly account keeping fees
Piggy bank

Term Deposits

Lock in a fixed rate for a guaranteed return on investment.

Learn more

Calculator

Budget planner calculator

Keep thriving with a budget planner that takes the guesswork out of success.

Learn more

Bank Account FAQs

Our internet banking platform uses:

  • https encryption
  • Transport Layer Security (TLS)
  • 2FA, 2-step verification for secure transfers
  • Automatic session logouts

The RACQ Bank app keeps you safe by:

  • Requiring your Bank ID and password to log in
  • Using SMS security
  • Ensuring automatic session logouts

To help boost your own security online, we suggest you:

  • Manually log out after each session
  • Never save your login details on a shared computer
  • Clear cookies after each session
  • Never share your Internet Banking details

Yes! The RACQ Bank app allows you to make payments including bank transfers and BPAY®, and to schedule future transactions.

You can also customise your account view to notify you when saved transactions and upcoming payments from your chosen account will take place.

When you’re trying to compare bank accounts, it pays to know all of the costs involved. There are no monthly fees or everyday transaction fees on our bank accounts which means you save even more with RACQ Bank. Please consider all costs that may be involved by viewing our easy-to-follow tables of RACQ Bank's fees and charges in our Fees and Charges Schedule.

If you’d like to discuss these further, please drop into your local RACQ store or phone us on 13 1905.

If you’ve lost your card, it's been stolen, or there are unauthorised transactions, make sure you disable or permanently block your card first. This way, no-one will be able to use it while you’re waiting for your new card to arrive.

To block or temporarily disable your card through internet and mobile banking 24 hours / 7 days week just log in to internet banking and click "Card options". Alternatively, you can contact us on 13 1905 or visit your nearest RACQ store and we can block your card to keep your money safe.

If you find your card again, simply log back into internet banking to enable it. Remember, only enable your card if you're sure no one has had access to it while it was lost.

You can order a replacement card quickly and easily online. Simply jump online and follow the prompts to "Request replacement card". We’ll have a new card out to you within 7-10 business days.

You can activate your Visa Debit card using internet banking or the RACQ Bank app. Simply log in, select "Card options" and "Activate card". Alternatively, phone us on 13 1905 or visit your RACQ store and one of our friendly staff will activate your card for you.

More Accounts FAQs

Banking products are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

You can only create a PayID within mobile or internet banking by linking it to an eligible account. Not available on some accounts. Please read the internet banking terms and conditions for more info.

Biometric identification features are compatible with selected devices only, noting that some devices may not be able to use particular biometric identification methods. For Android, selected biometric features should be available on devices with android v 4.4 or greater, provided that feature is available in device. For iOS device, any device that is running with IOS version 9,10 or 11(or greater), provided that feature is available in device. 

* The Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay, and the Google Pay Logo are trademarks of Google Inc. Samsung Pay is a trademark or registered trademark of Samsung Electronics Co., Ltd.

# E10, Unleaded 91, Premium Diesel and LPG only. Conditions, limits and exclusions apply. See Puma Energy fuel discount for more information.

~ eGift Cards:

  • Discount applies at checkout
  • Discount is on pre-purchased WISH and Woolworths Group eGift Cards only
  • Offer available online only
  • Discount not available when purchased in store
  • WISH and Woolworths Group eGift Cards terms and conditions apply
  • WISH and Woolworths Group eGift Cards are emailed to your nominated email address
  • A maximum of ten WISH and Woolworths Group eGift Cards may be purchased in one transaction
  • You can check your eGift Card balance here
  • Woolworths Limited ABN 88 000 014 675 is the issuer of the WISH and Woolworths Group eGift Card, but is not the promoter of the offer, nor responsible for fulfilment of the offer terms. WISH and Woolworths Group eGift Cards have no expiry date and are redeemable at participating stores only. For a list of participating stores and full eGift Card Terms and Conditions visit woolworths.com.au/giftcards