Questions?

For any questions, or to request more information, call 1300 30 10 20, 8am to 9pm (AEST), 7 days, or email us.

Opening a directsaver account

How do I open a directsaver account?

You can open an account in 3 easy ways:

	Call us on 1300 30 10 20, 8am to 9pm (AEST), 7 days, to open a directsaver over the phone
	Apply online
	Download and print an application form, complete it and mail or fax it back to us at:

dragondirect
Reply Paid 67519
Locked Bag 1
KOGARAH NSW 1485
Fax: (02) 9995 8158

You will receive written confirmation once your account has been opened.

Do I have to change banks?

No. directsaver works with your current banking arrangements. A directsaver account can be linked to your existing bank account providing it allows direct credits and debits , for transfer of and access to funds.
If your directsaver is linked to a Nominated Account with another financial institution, transferred funds are available on the next business day as long as the transfer is made prior to 3.30pm on a business day. Transfers are not processed on weekends or public holidays.
If you choose to link your directsaver to an eligible nominated St.George account, funds are transferred between the two accounts instantly, 24 hours a day, 7 days a week*. The following St.George Accounts can be a Nominated Account:

For existing customers who hold one of the following accounts, you may still choose this account as your nominated account to link to the directsaver, however these products are no longer for sale to new customers.

Portfolio Cash Management Account
Freedom Plus Account
Gold Cash Management Account
Investment Savings Account

What’s a Verification Form?

The Verification Form is supplied to you after opening a directsaver account over the phone or Internet.
If you opened your account over the Internet, your Verification form is supplied at the end of your application for you to print out. If you opened your account over the telephone, your Verification will be mailed out to you.
Please check your Verification Form has all the correct details, before signing and sending it back to us either by post or fax (details at the top of the form).
Once we receive your signed Verification Form, we will link your directsaver account to your Nominated account, and send you a letter confirming that your directsaver account is finalised.

How will I know when my directsaver account is opened?

When we have opened your account for you, you will receive a Welcome Pack. This pack will include a welcome letter, your account details, your phone and Internet banking access number (if you don't already have one) account usage instructions and other relevant information.
Once we receive the verification form completed and signed by you, we will send you a letter confirming that your account is fully active.

Can I have more than one directsaver account linked to my nominated account?

Yes. There is no limit to the number of directsaver accounts that can be opened.
However you can only have up to 15 separate directsaver accounts linked to one eligible Nominated Account, to help make managing your savings goals easier.
For Example:

Many Accounts

Nominated Account information

What is a Nominated Account?

A Nominated Account is the personal Australian bank account you choose to link to the directsaver account. Your Nominated Account must also be in the same name(s) as your directsaver account.
You can deposit funds to your directsaver by transferring funds from your Nominated Account. You can also deposit funds to your directsaver from other accounts using electronic direct credit and by using "Third Party Transfers" or "pay anyone" facilities, if they are available on your account at other financial institutions.
Some financial institutions require you to register to use a "Third Party Transfer" or "pay anyone" service and may impose daily limits. Please contact your financial institution for more details.
Some accounts with other financial institutions do not allow phone and/or Internet banking or direct debits. Please check with your institution.
If you wish to withdraw money from your directsaver, you must transfer the amount you wish to withdraw to your Nominated Account, and then withdraw the amount from the Nominated Account.

Nominated Account Diagram

If you choose to link your directsaver to an eligible Nominated Account with St.George, funds are transferred between the two accounts instantly, 24 hours a day, 7 days a week*. The following St.George Accounts can be a Nominated Account:

Portfolio Cash Management Account
Freedom Plus Account
Gold Cash Management Account
Investment Savings Account
Happy Dragon

How do I link my directsaver to my Nominated Account?

New Customers
By completing Section 3 of the directsaver Verification Form
Existing Customers
By completing the Nominated Account Advice form

How do I change my Nominated Account?

By completing the directsaver Nominated Account Advice form, returning it to us, and either:

Providing us with copies of Bank issued statement(s) on letterhead that clearly list your name, address and account number

For your new Nominated Account (if it is with another financial institution) and

For your old Nominated Accounts (if account is with another financial institution)

OR
Reducing your directsaver balance to zero ($0). Please complete this step before submitting the form.

Note: If your new Nominated Account is a St.George account, customers need only complete and return the Nominated Account Advice form.

Can my Nominated Account be in a different name to my directsaver account?

All owner(s) of the directsaver account must also be owner(s) of the Nominated Account. eg. Maria can link her directsaver account to the joint Freedom account she has with Joe, as she is one of the owners of the joint Freedom account. However, Alex and Kate can’t link their joint directsaver to Kate’s sole Freedom account as Alex is not an owner of Kate’s Freedom account.

Depositing funds to your directsaver

How do I deposit money to my directsaver account?

When your account is opened we will notify you by sending you a "Welcome Pack" with your account details. Once you have received these you can register to use phone and Internet banking.
To transfer funds into your directsaver account from your Nominated Account, simply log on to dragondirect Internet Banking or use the dragondirect automated phone banking service by calling 1300 30 10 20 and follow the voice prompts.
You can transfer funds electronically into your directsaver account from any other account. Simply provide the originating institution with the transfer instruction, quoting your directsaver account, BSB and account number as the destination account.

How long does it take for my funds to clear?

Funds are credited to your directsaver account on the day we process the transfer.
If the account from which you are transferring funds is an eligible account with St.George or BankSA, funds are immediately available. If the account from which you are transferring funds is with another financial institution, the funds earn interest immediately, but are on hold for up to three days while the transaction is processed.
If the account from which you are transferring funds is with another financial institution, the funds earn interest immediately, but are on hold for up to three days while the transaction is processed.

Can I arrange for my opening deposit to be automatically paid to my directsaver account?

Yes, you can. Simply specify the opening deposit amount when opening your directsaver account, and once your account is finalised we will arrange for that amount to be transferred from your Nominated Account to your directsaver account. For more information, call 1300 30 10 20, 8am to 9pm (AEST), 7 days.

Can I set up an Automatic Savings Plan by direct debit from my Nominated Account?

Yes, you can. To start a savings plan simply:
- Request an Automatic Savings Plan when opening your account
- Call 1300 30 10 20, 8am to 9pm (AEST), 7 days
- Complete the directsaver Auto Savings Plan form and fax or post it back to us using the address at the top of the form.
For more information and handy tools visit our
Savings Plan page.

Can I arrange for my salary to be directly credited to my directsaver account?

Yes, all you need to do is provide your directsaver BSB and Account Number to your employer.

Your account details can be found:

On your welcome letter
Internet Banking
Your quarterly statements or,
Can be obtained by calling dragondirect on 1300 30 10 20 8am – 9pm, (EST) 7 days a week.

How do I update my Automatic Savings Plan?

You can either:
- Call us on 1300 30 10 20, 8am to 9pm (AEST), 7 days, or
- Simply complete the directsaver Auto Savings Plan form and send it back to us by fax or post

Withdrawing funds from your directsaver

How do I withdraw money from my directsaver account?

Withdrawing funds is easy. You can either:

dragondirect

1300 30 10 20

Note: Funds can only be withdrawn to your Nominated Account.

How long does it take for my funds to clear?

If your directsaver is linked to an eligible St.George Nominated Account, funds are transferred instantly between the accounts.
If your directsaver is linked to a Nominated Account with another financial institution, transferred funds are available on the next business day as long as the transfer is made prior to 3.30pm on a business day. Transfers are not processed on weekends or public holidays.

Can I withdraw funds from my directsaver to an account that isn't the Nominated Account?

No. For security reasons, you can only withdraw funds to the Nominated Account linked to your directsaver.

Does the directsaver account have ATM, cheque or branch access?

The directsaver account does not have ATM, cheque or Branch access, however the benefit of this account is that it offers the convenience of managing your accounts completely by phone or the Internet. There is no over-the-counter or ATM card access, but you can make a transfer to your Nominated Account and then make a cash withdrawal. You can also deposit cheques into your Nominated Account then transfer the funds to your directsaver account once the cheque has cleared.

About directsaver

Are there any fees?

No. There are no fees on the directsaver account.

Do I have to keep a minimum balance?

No. Every dollar in your account earns the full high interest rate.

How long does my money have to be deposited to earn interest?

Every dollar earns full interest from the day it is deposited to your directsaver account.

How is interest calculated?

Interest is calculated daily on the full balance of the account.

When is interest paid?

Interest on your directsaver account is paid on the last day of each month.

How often will I get a statement?

You'll receive a statement by mail every 6 months. To view or listen to your transaction history on a more regular basis, you can log onto Internet banking or simply call dragondirect Phone Banking on 1300 30 10 20, 24 hours a day, 7 days a week*.

How can I receive my financial year’s interest summary?

Log onto Internet Banking. Go to the left hand menu, and click on ‘Financial Years Interest’ located under the ‘Account Information’ menu. Your financial year’s interest summary will be displayed. This feature provides you with a snapshot of all of your accounts providing the total interest charged and earned for the current and previous financial year.

At what times can I access my account?

Any time you want by Internet or automated phone banking, 24 hours a day, 7 days a week*. If you require any assistance, our Customer Contact Centre Consultants are available from 8am to 9pm (AEST), 7 days. Simply call 1300 30 10 20.

How do I contact you?

Call dragondirect on 1300 30 10 20 from 8am to 9pm (AEST), 7 days, or email us.

Phone and Internet Banking

How do I bank online?

Register for dragondirect Internet or Phone Banking by calling 1300 30 10 20 from 8am to 9pm (AEST), 7 days. Remember, if you are registered for St.George Internet or Phone Banking, you're already registered to bank online with dragondirect. Simply use your St.George Internet Banking access/Card Number to log on to dragondirect.
Once registered, simply use your dragondirect or St.George Internet banking Card Access Number, security number and last name to log on to dragondirect.

How do I bank using the phone?

Register for phone banking

If you have an existing St.George account that can be registered for phone or Internet banking, you can register by calling 1300 30 10 20, 8am to 9pm (AEST) 7 days.
If you do not have a suitable existing account with St.George Bank, you will be pre-registered for phone and Internet banking and sent a dragondirect phone and Internet banking access card and a temporary security number when your account is opened. Using the card and temporary security number you will be able to access dragondirect phone and Internet banking.

Using the card and temporary security number you will be able to access dragondirect phone and Internet banking.
You will be requested to change this intial security number to one of your own choice after first logging in to Phone Banking.

Note:

Accessing phone banking

To access Phone Banking, call 1300 30 10 20 , 24 hours a day, 7 days a week* and simply follow the voice prompts
Make sure that you have your card/access number, security number and - if you have more than one directsaver account - your account numbers ready.

dragondirect

phone and Internet banking

Is it safe to bank over the phone or Internet?

Absolutely - dragondirect offers the maximum level of security to our customers. Our security is based on strong data encryption, which keeps your banking details private.
Data encryption is a secure way of protecting transmitted information from being viewed or deciphered. When we encrypt your data, it is converted into a code which can only be accessed by us.
We encrypt all messages between your PC and our computers, using 128-bit cryptography. Information sent to and from your computer is viewable only by you and dragondirect.

High interest savings account frequently asked questions