How to open a bank account
Our online application form is quick and easy to complete and helps you get your application underway sooner.
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Complete the online application form. -
As part of your application you will be prompted to complete your identity check. -
Once you are ready to complete your ID check you can click the "Send" SMS button and your ID check will be sent to your phone to complete as you will need to be able to take pictures and video to confirm your identity. Once complete you can continue with your application. -
We'll review your application within 1 business day and you'll receive an email or SMS with your Bank ID -
If you’ve asked to be set up for online banking, you’ll receive a temporary internet banking password to get you started.
Transaction accounts are eligible for an RACQ bank card. If you request one, we will send you a card by mail in 7-10 business days
To open an RACQ Bank Account online, you'll need to be 18 years or older.
You can also open an account in person at one of our stores or by calling 13 1905.
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.
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Enjoy device payment with Apple Pay, Google Pay™ and Samsung Pay* -
Access your money anywhere with internet banking and the RACQ Bank app
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$0 Minimum monthly deposits
Monthly account keeping fees
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.
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Start your savings journey straight away with no minimum opening balance
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Access your money 24/7 using internet banking or the RACQ Bank app
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$0 Minimum monthly deposits
Interest rate
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.
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Base interest rate of 0.01% p.a.
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Start saving now with no minimum opening balance required
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Get instant account access using internet banking and the RACQ Bank app
Bonus interest rate
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.
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Earn interest on the total balance of the account
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Enjoy making unlimited deposits and withdrawals without affecting your interest rate
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Manage your money anywhere, anytime with internet banking and the RACQ Bank app
Interest rate
Monthly account keeping fees
Budget planner calculator
It's always a good time to switch to an RACQ Bank account
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No everyday transaction feesYou don’t need more fees; we’re helping lift the load.
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Bank securely with RACQ Bank
Our platforms are built to keep your assets and information safe.
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We’ve earned Queenslanders’ trust
RACQ members have had our loyalty and support for over a century.
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Access exclusive membership benefits
We find ways to make your life better every day.
Contact us
Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.
Things to note
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. 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, and consider if appropriate for you 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.
Interest rates on a per annum basis and are current as at 19 March 2024 and subject to change at any time.
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 Mobile and Internet Banking Terms and Conditions for more information.
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.