QUICK SUMMARY
Managing savings through a smartphone raises real questions about account access speed, digital reliability, and whether bonus interest rules are simple enough to follow consistently. IMB Bank addresses these through fast digital onboarding, a mobile app built for everyday account management, and savings products with transparent, low-threshold bonus criteria.
01
Open a savings account online in under ten minutes
IMB Bank's account opening process is designed to run entirely online, without branch visits or paper forms. The IMB Reward Saver Account and Reward Saver Kick Start Account both advertise an application time of under ten minutes. Identity verification within that process typically completes in under three minutes, using an SMS start, a photo ID (passport or Australian driver licence), and a selfie video, according to IMB's online identity verification guide.
The process is available to customers aged 13 and over, which makes it accessible to students beginning their first savings account. IMB CEO Robert Ryan has described the bank's direction as centred on “easy online account opening and streamlined loan origination technology” that provides “simple, secure banking for our customers,” as noted in IMB's article on its Canstar customer satisfaction awards.
The IMB Mobile App carries a 4.7 rating on the App Store and 4.3 on Google Play, per figures published by IMB. For anyone opening their first account from a phone rather than a desktop, this onboarding path removes the logistical barriers that can delay getting started.
02
Handle day-to-day banking in the IMB Mobile App
IMB Bank's mobile app is built to replace branch visits for routine banking, not just provide a balance check. The app supports balance and transaction viewing, account transfers, Osko real-time payments, BPAY, Pay Anyone, and PayID management, as documented on the IMB Mobile App features page. It also includes Balance Peek, which lets users see their balance without logging in fully, and secure in-app messaging for questions that don't require a phone call. Scheduled payments can be created, viewed, and deleted from within the app.
Osko, BPAY, Pay Anyone and scheduled payments.
Balances, transactions and Balance Peek.
Open and name extra savings accounts online.
Accounts can be opened online directly through the app, which means a second savings account for a specific goal (a travel fund or a rental bond, for example) can be added without leaving the mobile interface, as described in IMB's Everyday Unlimited Kick Start package. The Reserve Bank of Australia notes that “access to online banking is increasingly essential for end-users making fast and next-day transfers” in its bulletin on the reliability of retail payment services, which frames app reliability as a practical requirement rather than a convenience.
IMB's own reported online banking service availability ranges from 99.42% to 100.00% across recent quarters, according to the IMB Help Centre. In an environment where 44% of device-present transactions in Australia used mobile wallets as of October 2024, per the RBA's Retail Payments Statistics, an app that handles payments, savings, and messaging in one place directly matches how younger account holders already manage money.
03
Meet bonus interest rules with small, predictable actions
IMB Bank's savings accounts earn bonus interest through criteria that are clear and require minimal monthly effort. The Reward Saver Account pays 5.35% p.a. total on balances up to $1 million when two conditions are met each month: deposit at least $50 and make no withdrawals. That rate combines a 2.15% p.a. introductory bonus for the first four months with a 3.20% p.a. standard variable bonus.
FOR MEMBERS AGED 13–30
Reward Saver Kick Start
Build a regular savings habit with two simple monthly actions.
total variable rate
- Deposit at least $20 each month
- Make no withdrawals during the month
- Available on balances up to $100,000
The Reward Saver Kick Start Account, available to members aged 13 to 30, pays 5.25% p.a. total on balances up to $100,000 under the same no-withdrawal condition but with a lower deposit threshold of $20 per month. Neither account charges a monthly account keeping fee, and online and mobile payments are free, as listed on IMB's savings accounts overview.
The Everyday Unlimited Kick Start package pairs the Kick Start savings account with an Everyday Unlimited transaction account that includes an IMB Visa Debit Card for members aged 15 and over. Within the Kick Start structure, members can open multiple named savings accounts, which allows a single user to separate funds for different goals within the same app interface. The low deposit thresholds and single no-withdrawal rule are structured to reward regular saving behaviour without requiring large balances or complex calculations at the end of each month.
THE TAKEAWAY
From deciding to save to earning interest
IMB Bank's digital banking approach connects three practical elements for someone saving toward a near-term goal from a smartphone: a fast, document-light account opening process, a mobile app capable of handling payments and account management without branch access, and savings products where the bonus interest rules require a small recurring deposit and no withdrawals. Together, these features reduce the friction between deciding to save and actually earning interest on that goal.
- The Reward Saver Kick Start Account is available to members aged 13 to 30, with a $20 monthly deposit threshold to qualify for bonus interest.
- Online ID verification completes in under three minutes using a photo ID and selfie video.
- The IMB Mobile App supports Osko real-time payments, BPAY, PayID, in-app messaging, and online account opening.
- IMB's reported online banking availability reaches 99.42% to 100.00% across recent quarters.
- Named, goal-specific savings accounts can be opened and managed entirely within the mobile app.
Sources and further reading
Rates, eligibility criteria and product details are presented as supplied in the source material dated 6 August 2026 and may change. Check the linked product pages before making a decision.