MOVE Bank

What MOVE Bank does

MOVE Bank, legally MoveBank Ltd, is a 100% customer-owned mutual bank headquartered in Australia and operating under Australian credit licence 234536 with ASIC oversight. Established in 1968 as Railways Credit Union to serve railway workers and their families, the institution rebranded to MOVE Bank and today serves over 22,000 members across Australia. Its product portfolio is built around three pillars: home loans (everyday variable, fixed, and offset variants supporting up to 95% LVR), car and personal loans (including a dedicated green vehicle product), and retail deposits comprising transaction accounts plus three savings products (Growth Saver, Bonus Saver, Online Saver) and term deposits. The bank complements lending and deposits with insurance distribution (home, landlord, car, travel, caravan/boat/motorcycle), a low-rate credit card, and a digital banking stack that includes an internet banking platform, an iOS/Android mobile app, PayID, PayTo, Apple Pay, Google Pay, and Send Payments-powered international transfers.

The business model is built on net interest income from a home-loan-dominated balance sheet, supplemented by fee income on transaction accounts (a $5 monthly fee waived at $1,500 monthly deposits), term deposit funding spreads, and likely insurance referral commissions. Distribution is digital-first and branchless: members onboard and self-serve through movebank.com.au and the mobile app, while home loan origination is augmented by a dedicated Broker Hub channel staffed by two regional Broker Success Partners and supported by select aggregator partnerships and an integrated QBE lender's mortgage insurance calculator, with digital mortgage execution active across QLD, NSW, VIC, SA and ACT. Marketing relies on owned digital channels, online financial calculators, and broker referrals rather than paid acquisition.

As a customer-owned mutual, MOVE Bank is not externally funded, not PE- or VC-backed, and does not trade on any exchange. Recent strategic activity has centered on product surface expansion (international payments, digital wallets, Green Car Loan), digital platform modernization (a website refresh announced for 2026), and active rate repricing across term deposits and variable home loans in May-June 2026, alongside continued third-party recognition including Mozo Experts Choice Awards 2025/2026 and WeMoney Everyday Banking Awards 2025.

Name

MOVE Bank

Legal name

MoveBank Ltd

Website

https://movebank.com.au

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

101–250 employees

Short description

MOVE Bank is a 100% customer-owned Australian mutual bank serving 22,000+ members with home loans, car and personal loans, savings and transaction accounts, term deposits, insurance, and digital banking via website and mobile app.

Ownership category

akta.pro rank

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Home Loan Interest: MOVE Bank generates revenue primarily through interest charged on home loans including variable rate, fixed rate, and offset home loan products.
2. Car and Personal Loan Interest: Revenue from interest on car loans (new, used, green) and personal loans with fixed rates.
3. Transaction Account Fees: Monthly account fee of $5 on Everyday Transaction Account, waived when $1,500 is deposited monthly.
4. Term Deposit Interest Spreads: Earns interest spread on term deposits with terms from 3 to 24 months, minimum deposit $5,000.
5. Insurance Products: Offers insurance products including home, landlord, car, travel, and caravan/boat/motorcycle insurance.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

MOVE Bank is a 100% customer-owned Australian mutual bank providing retail banking products and services to individuals, including residential home loans (variable, fixed, and offset), car loans for new, used, and green vehicles, personal loans, a range of savings and transaction accounts, term deposits, insurance products, and credit cards. The bank distributes these products directly through digital channels and a national third-party mortgage broker network. As a mutual, surplus is reinvested into better customer outcomes rather than returned to external shareholders.

Product overview

MOVE Bank is a 100% customer-owned mutual bank established in 1968, offering a comprehensive suite of banking and financial services to over 22,000 members across Australia. The product portfolio is organized into three core pillars: (1) Banking & Savings including transaction accounts, savings accounts (Growth Saver, Online Saver, Bonus Saver), and term deposits; (2) Home Loans featuring variable and fixed rate products with and without offset accounts; and (3) Car & Personal Loans encompassing new car, green car, and used car loans plus personal loans. Additional offerings include credit cards, insurance products (home, landlord, car, travel, and recreational vehicle insurance), and digital banking services including mobile app, internet banking, Apple Pay/Google Pay digital wallets, PayID, PayTo, and international payments. The bank also provides a suite of financial calculators and broker services for home loan applications.

Differentiator

Problem solved

Functional benefit

Brands

• MOVE Life: A financial rewards/lifestyle program offered to MOVE Bank members, providing exclusive benefits and discounts.

Products and services

• Home Loans Residential mortgage products offered to owner-occupiers and investors, including variable rate, fixed rate, and offset options, available directly and through the broker channel.
• Car Loans Secured and unsecured vehicle finance for new, used, and green/environmentally friendly vehicles, available to individual borrowers across Australia.
• Personal Loans Unsecured personal lending products for individual consumers to fund personal needs such as travel, renovations, or major purchases.
• Savings Accounts (Growth Saver, Bonus Saver, Online Saver) Deposit accounts paying interest on customer balances, including growth, bonus, and online variants targeted at personal savers seeking competitive returns.
• Transaction Accounts Everyday banking accounts used for salary crediting, bill payments, BPAY, EFTPOS, ATM withdrawals, and direct debits.
• Term Deposits Fixed-term deposit products offering a guaranteed interest rate over a defined term for personal customers seeking predictable returns.
• Insurance Products General and personal insurance products distributed to MOVE Bank customers, typically offered via partner insurers.
• Credit Cards Personal credit card products providing revolving credit facilities to individual customers for everyday spending and short-term financing needs.

Quantifiable outcome

• Over 22,000 members served across Australia
• +1 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Three partnerships are on record, tiered support and core.

• QBEsupportTechnology or IntegrationQBE provides lender's mortgage insurance (LMI) through their LMI Premium Calculator integrated into MOVE Bank's Broker Hub tools, enabling brokers to calculate LMI costs for high-LVR loans.
• Select Aggregator GroupscoreChannel Partner/ Reseller/ DistributorMOVE Bank works in close partnership with brokers from a select group of aggregators. All loans are assessed by experienced assessors with quick, common-sense decisions supported by a dedicated broker success team.
• Send PaymentssupportTechnology or IntegrationInternational payments are powered by Send Payments, enabling customers to transfer money internationally through MOVE Bank's digital banking platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Judo Bank: Australian challenger bank providing commercial and SME lending with growing retail presence; broader incumbent serving similar customer segments with overlapping digital banking capabilities.

Direct peers

• Beyond Bank Australia: Customer-owned mutual bank operating across Australia with home loans, savings, and transaction products, sharing MOVE Bank's member-aligned structure and digital-first delivery.
• Bank Australia: Australian customer-owned mutual bank offering similar deposit, home loan, and transaction products with a comparable member-owned value proposition and digital-first strategy.
• MyState Bank: Tasmanian-based customer-owned bank offering home loans, transaction accounts, and savings products with a similar mutual governance model and multi-product retail focus.
• P&N Bank: Western Australian customer-owned bank offering home loans, savings accounts, and transaction banking, sharing MOVE Bank's mutual structure and multi-state digital distribution.
• Australian Mutual Bank: Customer-owned Australian mutual bank providing home loans, savings, and transaction banking, comparable in scale and member-owned value proposition.
• Great Southern Bank: Customer-owned Australian bank (formerly CUA) offering home loans, savings, and transaction accounts with similar mutual positioning and digital distribution model.
• Heritage and People's Choice: Australian customer-owned bank formed from merger of Heritage Bank and People's Choice Credit Union, offering comparable home loan, savings, and transaction products across multiple states.

Regional players

• Queensland Country Bank: Regional customer-owned bank headquartered in Queensland offering comparable home loan, savings, and transaction products but focused on north Queensland geography.
• Credit Union SA: South Australian customer-owned credit union offering home loans, savings, and transaction accounts, comparable in mutual structure but concentrated in a single state.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/movebanksocial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MOVE Bank