RACQ Bank
Visit
RACQ Bank is the trading name of Members Banking Group Limited, providing savings and transaction accounts, term deposits and loans. Customers access its services through digital banking, telephone support and RACQ stores. RACQ has announced the sale of its retail lending and deposit business to Bendigo Bank, with customer accounts scheduled to transfer in November 2026.
| Legal name | Members Banking Group Limited |
|---|---|
| ABN | 83087651054 |
| Announced transition | Retail lending and deposit accounts are scheduled to move to Bendigo Bank in November 2026, this profile does not treat the transfer as completed [1] |
| Ownership classification | A subsidiary of RACQ. An announced November 2026 transfer must be reviewed when effective, group member ownership is not treated as direct customer ownership of the bank. [3] |
| Banking access | Selected RACQ stores provide banking services: Warwick explicitly lists deposits, withdrawals, term deposits and transaction/savings accounts. Services vary by store. Review again when the announced November 2026 bank transfer takes effect. [4] |
Savings rates
Compare allRates p.a. at a balance of $25,000.
| Advantage Plus Account | Visit | 1.60% | 1.60%Ongoing cap: Tiered | Tiered | - | - | - | 0 | - | $0 | 0 | - | - | 55 | - | $0 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bonus Saver Account | Visit | 0.01% | 6.00%Ongoing cap: $100K | $100K | - | - | - | 1 | $100 | $0 | 0 | - | 0 | 13 | - | $0 | - |
| eSave Account | Visit | 3.25% | 3.25%Ongoing cap: No cap | No cap | - | - | - | 0 | - | $0 | 0 | - | - | 13 | - | $0 | - |
Source: noren.com.au
Useful links
Similar institutions
Sources and review
- Institution background (racq.com.au)
- APRA ADI register (apra.gov.au)
- Ownership classification (racq.com.au)
- Banking access (form.racq.com.au)
RACQ Bank data reviewed . Next profile review due .