Police Bank
Safeguard Transaction Account
Safeguard is a special purpose savings account to help you avoid penalty charges such as overdrawn service fees and dishonour fees. Your funds are at call and earn daily interest.
Savings & transaction accountsBank updated 29 July 2026
At a glance
- Base rate
- 0.00%
§ 01 — Rates · 4
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariableBalance $0 to $499 | — | — | up to $499 | 0.00% | — | paid every 6 mo |
| VariableBalance $20,001 to $50,000 | — | — | $20,001–$50,000 | 0.01% | — | paid every 6 mo |
| VariableBalance $500 to $20,000 | — | — | $500–$20,000 | 0.01% | — | paid every 6 mo |
| VariableBalance $50,001 or more | — | — | $50,001+ | 0.01% | — | paid every 6 mo |
§ 02 — Fees · 13
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Direct Debit Dishonour Fee | Dishonour | $9 | — | Direct Debit Dishonour Fee per transaction |
| Additional Statement Fee | Event | $5 | — | 1.50 per page |
| Coin Handling Fee | Event | $12 | — | Fee can also be 2 % of the amount whichever is the greater. Payable whenever coins deposited in a single month reach an accumulated value in excess of $100 |
| Document Retrieval Fee | Event | No fee | — | Minimum $22.77 per hour retrieval fee and minimum $30 per hour administrative fee |
| Dormant Accounts fee | Event | $10 | — | After 3 years an account is classed as dormant if no Member transactions occur. Interest, fees and government charges are not classed as transactions. |
| Replacement Card Fee | Event | $10 | — | Payable for any second or subsequent request for the replacement of a Visa Card. |
| Third Party Costs | Event | No fee | — | At Cost |
| Visa Overseas Emergency Fee | Event | $175 | — | Payable when you request an emergency replacement Visa Card or emergency Cash Advance overseas |
| Bank@Post Cash Withdrawal fee | Periodic | $2 | Every 1 days | Per transaction |
| External Electronic Periodical Payments | Transaction | $1 | — | If part of the Reduced Fees program, the first 3 transactions are free |
| Visa International Fees | Transaction | 3.00% of transaction | — | Payable if and when you use the Visa Card overseas and the transaction is in a foreign currency. All overseas transactions are converted to Australian dollars and are subject to this fee as a percent… |
| Counter Cash withdrawal $25,000 and over | Withdrawal | $50 | — | Per cash withdrawal $25,000 or over |
| Counter Cash withdrawal fee up to $24,999 | Withdrawal | $2 | — | First 3 free if part of Reduced Fees program |
§ 03 — Features
Instant paymentsPayIDDigital banking55 interest-free daysApple PaySamsung PayGoogle Pay
- · Direct Debits. Set up Direct Debits from this account
- · Periodical Payments. Account allows Periodical Payments via Cheque and can also make External Periodical Payments
- · Visa PayWave. Our Debit Card is issued with the Visa PayWave ‘contactless’ payment feature. This allows you to pay for purchases under $100 without swiping, signing, or entering a PIN at participatin…
- · Verified by Visa. Verified by Visa is a service designed to ensure you are protected while shopping online with your Visa card. As you make a purchase online, Police Bank assesses the risk of the tra…
- · Visa Preferred Rewards. Our Visa Card provides access to the Visa Entertainment program. This gives you the opportunity to purchase unique deals including preferred seating at special events, discoun…
- · Contributes to Reduced Fees Program. Simply maintain a combined monthly balance of $5000 or more worth of savings, investments or loans and you will receive more fee free ATM and EFTPOS transactions…
- · Bank@Post. Withdraw cash at any participating Australia Post outlets with Bank@POST™
- · Direct Credits. Set regular payments like your pay sent straight to your account
- · ATM withdrawals up to $1,000
- · Eftpos transactions. Eftpos transactions are free if on the Reduced Fees program, otherwise 25 transactions are free per month, thereafter will cost 0.55 per Eftpos transaction
- · Periodical Payments. Can set up Periodical Payments
- · ATM withdrawals. up to $1000
§ 04 — Eligibility & limits
- · Residency: Australian Residents
- · Available to individuals
§ 05 — Compare
§ 06 — Run the numbers
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Published by Police Bank under the Consumer Data Right, last changed by them on 29 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.