Hi there, I just received an email from ME Bank in Australia, it stated that customers will now need the ME Bank app for any transactions in the future.  I will now need an Australian phone number for SMS messages which I haven't got. Does anyone know of any term deposits in Australia where an AU phone number is not required. I have one AU bank account with Commbank but there saver plan is only 1.55% whereas I was getting 4,40% from ME Bank. Thanks.

You can now register a foreign phone number with CBA (not easily) and they have Term Deposits higher than 1.55%, that is their at call Saver account.

52 minutes ago, GreasyFingers said:

You can now register a foreign phone number with CBA (not easily) and they have Term Deposits higher than 1.55%, that is their at call Saver account.

Firstly thank you for your reply. The CBA rate is 4.45% but that's with an  introductory bonus but that only lasts for 5 months, then it reverts to 1.55%. CBA does have a term deposit account which is 3.05% for 6 months. I'm in a situation as I'm now 80 yo I don't get the Aust Pension because I lived in Thailand well before my 65th birthday. So now I'm living off my own money and decent interest rates are important for me.

Wouldn't be easier to get an Australian SIM card sent to you rather than close and open a new bank account?

You'll have difficulties these days to find a bank which doesn't require mobile phone for something. I have 2 Aldi mobile sim cards (one is spare) to be able to do account maintenance. 

 

Mebank pays 4.6% on HomeMe accounts if you move $2k through the linked SpendMe account every month,  amounts up to 1m.

6 hours ago, Mason45 said:

Firstly thank you for your reply. The CBA rate is 4.45% but that's with an  introductory bonus but that only lasts for 5 months, then it reverts to 1.55%. CBA does have a term deposit account which is 3.05% for 6 months. I'm in a situation as I'm now 80 yo I don't get the Aust Pension because I lived in Thailand well before my 65th birthday. So now I'm living off my own money and decent interest rates are important for me.

Mate, you are in the same position as me with regard to the pension, but 5 years younger than you. Also had a similar position with my CBA account linked to an ING account that pays a high interest rate. Trouble was when the Americans imposed their rules worldwide and being in Thailand I could not fit their "Know your customer" rules and the account was frozen. Fortunately they warned me before the freezing, not like the Thai banks, and I moved most of the money back to CBA but kept a small amount there. Without contacting me the account was unfrozen a couple of months later, but how do you trust them now.

 

I do not have your phone problem as I have maintained my Australian phone number, now with Aldi prepaid for 1 year, in  a dual SIM phone. Look at

https://www.aldimobile.com.au/  to see if you can organise a SIM with them. They allow you to turn on/off global roaming as needed.

 

1 hour ago, GreasyFingers said:

Mate, you are in the same position as me with regard to the pension, but 5 years younger than you. Also had a similar position with my CBA account linked to an ING account that pays a high interest rate. Trouble was when the Americans imposed their rules worldwide and being in Thailand I could not fit their "Know your customer" rules and the account was frozen. Fortunately they warned me before the freezing, not like the Thai banks, and I moved most of the money back to CBA but kept a small amount there. Without contacting me the account was unfrozen a couple of months later, but how do you trust them now.

 

I do not have your phone problem as I have maintained my Australian phone number, now with Aldi prepaid for 1 year, in  a dual SIM phone. Look at

https://www.aldimobile.com.au/  to see if you can organise a SIM with them. They allow you to turn on/off global roaming as needed.

 

I also use the Aldi network - costs $15 a year and all I use it for is for texts from banks and Govt organisations.  

 

@Mason45   Do you have a relative or friend in Australia that will get and send you a SIM card using their name? I think you need an Australian ID and address to get a SIM.  You can top it up online each year from any bank account - easy as.  

On 12/7/2025 at 9:44 AM, GreasyFingers said:

You can now register a foreign phone number with CBA (not easily) and they have Term Deposits higher than 1.55%, that is their at call Saver account.

I get CBA net codes sent to me in Thailand and I have their app which works fine. They have a term deposit which is 3.55% at the moment. That said I contacted ME Bank today to re invest part of the maturity money owing to me. I was told that the rules have changed you have the choice. Re invest the total amount for no more than 6 months or re invest the main amount and send the interest to your access account. Given I don't have an Aussie phone number I withdrew the lump sump and it should be in my CBA account by December 16, I will then invest in the CBA term deposit as mentioned above. The problem with most term deposits you must be an Aussie resident to qualify, hence now you need an Aussie phone number to install the banks app and make transactions.

On 12/7/2025 at 4:44 AM, Will27 said:

Wouldn't be easier to get an Australian SIM card sent to you rather than close and open a new bank account?

I agree.  

 

I warned members some time ago that eventually banks, insurance companies, government departments etc etc will all require 2FA (Two Factor Authentication) with an Australia mobile phone number registered to one's account.   

 

Aldi Mobile, who use the Telstra network, is good, at $15 a year to stay on the network.  Get one posted over to you.