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Transaction accounts to keep Queenslanders moving

If you prefer to spend less time checking your account and more time doing the things you love, let us take care of your transaction accounts. With no hidden fees, convenient digital banking options, and the helpful customer service our members know and love, an RACQ Bank transaction account is all about making your day better.

Your transaction account options

Make every day count with RACQ Bank transaction accounts.

Everyday Account

Low-fee stress-free transactions.

Not all transaction accounts are created equal. Our Everyday Account gives members a simpler, smarter banking experience.

  • Go card-free with Apple Pay, Google Pay™ and Samsung Pay*
  • Bank wherever you go with internet banking and the RACQ Bank app
  • $0 Minimum monthly deposits
Monthly account keeping fees
Everyday transaction fees

Advantage Plus Account

Aged 55+? Control how you save and spend using one convenient account.

Get the best of both worlds with a transaction account that pays interest on your savings while giving you the freedom to spend.

  • Get started today with no minimum opening balance
  • Easily manage your funds with internet banking or the RACQ Bank app
  • $0 Minimum monthly deposits
Earn up to
0.40% p.a.
Interest rate
Monthly account keeping fees
Piggy bank

Budget planner calculator

Figure out where you’re spending so you know what you can save.

Learn more


Savings accounts

Tackle your goals with an account that rewards your hard work.

Learn more

Discover how membership makes all the difference^

Transaction Accounts FAQs

It’s easy to switch to RACQ Bank using your computer or smart phone. It takes only a few minutes to submit your application online:

  1. Fill in your online application – this takes five minutes.
  2. Once we’ve reviewed your application, we’ll send you a text message asking you to verify your identity with a photo of your ID.
  3. Once we’ve confirmed your identity, we’ll send you a text message with your account details.

Updating all your ongoing payments may seem like an inconvenience but it can save you time and energy in the long run.

To tackle this task, you simply need to:

  1. Open your RACQ Bank deposit account
  2. Contact your previous bank to request a list of the direct debits and scheduled payments that have come out of your account in the last 13 months
  3. Login to RACQ Bank internet banking or the RACQ Bank app and input your scheduled payments
  4. Contact the businesses on the list who have direct debits coming from your account and provide them with your new RACQ Bank transaction account details

If you need help taking care of this process, get in touch with RACQ Bank and we’ll assist you in any way we can. Phone 13 1905 or head over to your nearest RACQ store for face-to-face service.

To schedule transfers and BPAY® within the RACQ Bank app, simply:

  1. Open the RACQ Bank app and log in
  2. Navigate to “Payment/Transfer” and select “Manage Payee” for transfers or “Manage Billers and Templates for BPAY®
  3. Add the details of the account you’d like to pay
  4. Navigate to “Pay Someone” or “Pay a Bill”
  5. Enter the account, amount, dates and biller

Or, if you’d like some assistance setting up regular payments from your transaction accounts, feel free to phone 13 1905 or drop into your nearest RACQ store where our friendly team are available to help.

Yes! We encourage you to use our easy budget planner calculator to take the guesswork out of your financial success.

When you’re considering opening transaction accounts with RACQ Bank, it is recommended you consider all of the potential 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 read and consider the easy-to-understand tables of all our fees and charges in our Fees and Charges Schedule.

If you’ve got any questions about fees, please drop into your local RACQ store or phone us on 13 1905.

Card activation is easy! Just log in to internet banking or the RACQ Bank app. Then, choose “Card Options” and “Activate Card”.

If you have any problems activating your card, we’re here to help. Please phone 13 1905 or visit your local RACQ store and one of our friendly staff will activate your card for you.

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