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Want a $50 kickstart? Get both a savings and a transaction account

New customers only - open both the Incentive Saver savings account and the Complete Freedom transaction account online today if you're 14 - 17. If you're under 14, you'll need to go into a branch with a parent or guardian.

Then, within 30 days of opening both accounts:

  • Deposit at least $100 into your Incentive Saver account
  • We'll then deposit $50 into your Complete Freedom account within 50 days of the new accounts opening*.

New customers under 18 years only. Ends 30/09/2025. T&Cs apply.

What type of bank account could I get?

Savings account

It’s the account you choose when you want to grow your money rather than spending it, as you’ll earn interest on your balance.

Transaction

You’ll use this account to withdraw cash or buy things in-store or online, and if you're 14 or older, it comes with a debit card2.

Bundle both

Get both accounts so you don’t need to choose, linking them so you can easily manage your money with Mobile Banking.

How do I open a bank account?

1.

Have your ID handy

Types of ID you can use

2.

14 or over: Open your account(s) online using one of the Open buttons

Under 14: You’ll need to head into your nearest BankSA branch with your parent or guardian

3.
Start using your account(s), with easy access to your banking on your mobile phone

What you’ll get with your bank account

Savings only

Incentive Saver

  • $0 Account-keeping fee

  • Earn up to 4.65% p.a. when you grow your account by at least $0.01 a month1 and your account balance remains below $250,000.
  • Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.


 

Transaction only

Complete Freedom

  • $0 Account-keeping fee

  • Get a Visa Debit card2 (aged 14 and over)
  • Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.


 

Bundle both

Complete Freedom + Incentive Saver

  • $0 Account-keeping fee on both accounts
  • Get a Visa Debit card2 (aged 14 and over)
  • Earn up to 4.65% p.a. when you grow your incentive saver account by at least $0.01 a month1 and your account balance remains below $250,000.
  • Open online if you're 14 or over, if under 14 you'll need to head into branch with a parent or guardian.


 

FAQs

Can I get the $50 kickstart if I already have both accounts?

No. You need to be a new customer and open both an Incentive Saver account and a Complete Freedom account so that you have one of each account.
 

How many times can I get the $50?

This promotion is limited to one $50 payment amount per customer, regardless of the number of accounts held/opened.
 

When will the $50 be paid?

The money will be paid into your Complete Freedom account within 50 days of the new account(s) being opened and the $100 being deposited into the Incentive Saver account. $100 must be deposited within 30 days of opening your bank account(s)
 

Can a child have a debit card?

You can get a Visa debit card2 with a BankSA Complete Freedom account if you’re 14 or over. 
 

Can a parent/guardian open a bank account for a child?

Yes. To do this, you’ll need to head into a BankSA branch with your child with both your and your child’s ID.
 

What is the youngest age you can get a bank account?

You can have a bank account as soon as you have the required ID documents.

(Types of ID you can use (PDF 1MB))
 

How much does it cost to open a bank account for a child?

It is free to open a BankSA Complete Freedom transaction account and Incentive Saver savings accounts for your child.

There are also no account-keeping fees on these accounts.

Read the Terms and conditions including fees for Transaction, Savings and Investment Accounts (PDF 860KB), including charges that may apply, before making a decision and consider if it is right for you.

Important information


Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.

*Youth $50 Promotion Terms and Conditions

This promotion runs from 01/07/2025 to 30/09/2025.

To be eligible you must:

  • Not have held a Complete Freedom account and an Incentive Saver account with BankSA in the last 3 years (applies to both account holders for joint accounts).
  • Open a new Complete Freedom account and Incentive Saver account, and deposit at least $100 into the within 30 days of opening the accounts. Accounts must be active and ready to use.
  • Deposit must be customer-initiated and does not include interest payments into the account.

If you meet the above:

  • You’re entitled to one $50 payment, regardless of the number of accounts you hold.
  • The $50 payment will be made to your account within 50 days of you meeting these Terms and Conditions in full. If you open more than one Complete Freedom account, the $50 will go to the account you opened first.

This promotion is not available in conjunction with any other offer. We reserve the right to change or withdraw it at any time.

Transaction, Savings and Investment Accounts Terms and Conditions apply to BankSA Incentive Saver and Complete Freedom accounts.

BankSA Bank accounts interest rates.

1. The 4.65% p.a. rate is a combination of a variable base rate of 0.40% p.a., and a variable bonus rate of 4.25% p.a. Earn the variable bonus rate as long as you grow your account balance by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21) and your account balance does not fall below $0.

2. To be eligible for a Visa Debit Card, you must have an Australian residential address and be 14 years old or over.