Alex is Australia’s newest bank, 100% digital and built from the ground up by an energetic team of bankers focused on your needs not ours.
We get asked that a lot! We chose a person’s name based on our goal to humanise banking and truly understand your needs. Neither male nor female, Alex is a diverse, empathetic team whose aim is to make you feel understood, a team that gets you.
Alex was founded in 2018.
No, Alex is independent of other banks.
Alex is Australia’s newest, 100% digital bank built by experienced bankers looking to provide you with a better banking experience than traditional banks.
Alex is 100% digital, meaning we don’t have the overheads associated with traditional banking and its branches. We operate completely online, allowing us to provide better value products and services that are accessible 24/7. We have an Australian-based customer service team if you need to contact us.
Alex is 100% Australian and headquartered in Brisbane, Queensland.
Alex is Australia's newest bank, 100% digital and built fresh from the ground up by a team of energetic bankers focused on your needs not ours. Alex is building its products and services based on what our customers tell us is important to them - speed, value, fairness and transparency, and humanity. While Alex is 100% digital, you can talk to a real person at Alex at any time during normal business hours.
Chat with our team, email us at firstname.lastname@example.org or phone us on 1300 738 453
Alex was built on four key principles that customers told us were important to them: fast, simple, fair, human. Find more about this on our Meet Alex page.
Alex’s five values energise and guide our team to provide you with a better banking experience. They are – to always put customers first, to be one team, to care, to go beyond, and to be humble. We want to be measured by our behaviour and actions rather than just words and empty promises. We always encourage you to let us know how we’re doing and provide feedback and ideas.
Alex currently offers an unsecured Personal Loan. Please visit www.alex.bank/personal-loan for full details.
To apply you need to be a permanent resident of Australia, over 18 years of age, have an Australian Driver’s Licence or passport handy, and provide access to your bank statements via our partner Illion.
Not at this stage, we only accept applications in single names.
You can apply through our website via this link alex.bank/personal-loan.
Currently you can borrow up to $30,000.
Enjoy no ongoing or early repayment fees. Currently, our $295 establishment fee has been waived. There is only a small fee if you miss a scheduled payment.
Usually within one business day, once we’ve received your full application and all documents.
Once we receive your signed loan agreement the funds will be transferred immediately. There is a standard processing time to transfer between banks, so while it’s immediate on our end it may take 1-2 business days to become available in your account.
We’re flexible. You can make weekly, fortnightly or monthly payments. You can also pay out your entire loan amount at any time without any extra fees. We won’t penalise you for getting ahead!
You can make payments via direct debit or direct transfer.
Yes you can without incurring any additional fees. We won’t penalise you for getting ahead!
You can. We’ll work with you to understand your specific situation to determine if this is what you require or if there is another way to achieve what you are after.
No, we must be able to identify you with an Australian Driver’s Licence or Australian Passport for our online ID systems to identify you securely.
Make sure you are entering your name, address and date of birth exactly as it appears on your ID. If you recently moved, make sure you have updated your address with the Australian Electoral Commission. If these tips don’t work, contact us at email@example.com and we’ll try to help you.
Personalised interest rates ensure you receive the best rate possible depending on your credit history, financial circumstances and how much you are looking to borrow over what time. Take a look at our easy-to-use Loan Calculator to estimate your rate.
Rates are personalised depending on your credit history, financial circumstances and how much you are looking to borrow over what time. Take a look at our easy to use Loan Calculator here to estimate your rate.
A comparison rate includes the interest rate as well as certain fees and charges relating to a loan. The aim of the comparison rate is to help you identify the true cost of a loan and compare loans and services offered by financial institutions and mortgage providers.
You can, but depending on the timeframe and reason for decline the outcome may not change. You can speak to one of our team on 1300 738 453 if you have specific questions in relation to your situation.
A credit rating or “credit score” is a numerical score that represents how trustworthy your reputation is as a borrower. If you find out your credit rating through a credit agency, you will receive a number between 0 – 1,200 that summarises the information on your credit report at that point in time. A higher score means you have a good credit rating, with a lower score meaning you have a bad credit rating.
In Australia, there are three main credit reporting agencies: Equifax, Experian and Illion, with different credit score ranges. Alex uses Equifax to assess your credit worthiness. You can get more info here.
It’s always handy to understand your credit score and financial worthiness in general. Alex can only accept applications with sound credit scores, and your interest rate will also be personalised depending on your Equifax score.
Yes they do. Alex uses credit ratings provided by Equifax.
We’ll have internet banking available soon where you’ll be able to view your account. In the meantime our team is available to assist.
No, due to privacy regulations we can only speak with the related parties to an account and as we only have single borrowers available at this point in time, multiple internet banking logins aren’t possible.
For speed, our bank statements feature allows us to verify your banking transactions within seconds. Our bank statements feature is powered by Illion who provide this solution to over 200 financial services providers in Australia and New Zealand. They use bank-grade security and no login information is seen or stored by Alex.
Savings accounts are currently not available but you can register your interest here and we’ll keep you updated on when you can apply.
The timing will depend on how long it takes for us to be fully accredited as an ADI by APRA. This process can take up to two years but we are doing everything we can to make it much earlier than that.
Yes you can, please register your details here.
We are very close to releasing our Alex App. When available, the Alex App will be available for both Apple and Android phones and tablets. Keep an eye out on our website, Facebook page or the Apple and Google Stores.
With the Alex App you can check your balances, recent transactions, pay anyone, view loan repayment details, view interest details and update your details.
We don’t currently have products that connect with Apple Pay or Google Pay, but we are working to launch new products that will in the near future.
We don’t currently support Osko or PayID. You can transfer money from other banks using our 259-000 BSB. You’ll need this BSB and your account number to transfer funds into an Alex account.
Currently, we don’t offer a credit card with Alex. Watch this space.
Right now, we don’t offer products that have the ability to integrate with services like Afterpay. We will be looking to include this type of service in our new products once we progress from our Restricted ADI licence to an ADI licence.
If your budgeting app supports using a banking account, you can nominate your savings account by using our BSB 259-000 and your account number. Please remember to always exercise caution when sharing your banking details with anyone, including an app or service provider.
At this stage our products are for personal use only but we will be exploring business products for the future.
If you need anything from Alex while overseas, just contact us.
If you would like to change your account details or address, just email firstname.lastname@example.org and we can arrange this for you.
Yes, we provide statements every six months. Statements are provided at the end of the financial year and the end of the calendar year.
You can view the interest rate on your original contract. If you can’t find your original contract, just email email@example.com.
Our BSB number is 259-000
Alex’s regular office hours are Monday to Friday 8.30-5.00pm AEST
Alex Bank uses a range of bank-grade security including 24/7 monitoring, firewalls as well as all information being encrypted and stored within Australia. Our security controls have been exhaustively tested by independent IT auditors. Your security is our biggest priority.
As part of applying for an Alex product, we may from time to time send you news and updates regarding new products and promotions. If you don’t want to receive these, you can unsubscribe at any time by clicking on the ‘unsubscribe’ link at the bottom of emails.
You can contact us via phone, chat, email or any of our social channels.
Yes you can talk to an Alex employee in Australia during regular office hours on 1300 738 453.
Yes, you can lodge a complaint with the Australian Financial Complaints Authority, link to more details here.
We know it’s not easy asking for help, but please don’t hesitate to contact us and let us know your circumstances so we can assist in any way we reasonably can. You can phone, chat or email us here.
Financial abuse is a form of domestic and family violence where one person manipulates another to control their finances without consent. This is a terrible experience and we know it’s not easy asking for help. Please don’t hesitate to contact us and let us know your circumstances so we can assist in any way we reasonably can. You can phone, chat or email us at firstname.lastname@example.org
We generally aim to get back you within one business working day, but this will depend on the number of enquires at any given time.
APRA is the Australian Prudential Regulation Authority, which is a regulator of the Australian banking and finance sector.
An Authorised Deposit-taking Institution (or ‘ADI’) is a financial institution in Australia that is supervised by the Australian Prudential Authority (APRA). Under the Banking Act 1959, ADI’s are authorised to accept deposits from the public and can offer bank accounts. All banks are covered under the Government’s Financial Claims Scheme (FCS), which protects money held in bank accounts up to a total value of $250,000 per person. Alex is currently operating under a restricted Authorised Deposit-taking Institution licence (or ‘RADI) see below.
A Restricted ADI is authorised by APRA to conduct banking business in Australia for a limited period and subject to specific requirements and restrictions. Further information regarding Alex’s Restricted ADI licence is available at www.alex.bank/legal
Alex obtaining a Restricted ADI licence does not impact your loan. Alex provides personal lending products under our Australian Credit Licence.
Yes you can, please visit our website and register your details from this link here.
The restrictions on Alex’s Restricted ADI licence are summarised here.
Alex Bank Pty Ltd ABN 13 627 244 848 ("Alex"), Australian Financial Services Licence and Australian Credit Licence 510805, is authorised by the Australian Prudential Regulation Authority ("APRA") to operate under a time-limited and restricted Banking Authority. Further information regarding Alex's restricted Banking Authority is available at www.alex.bank/legal
The information on our website is general advice only, prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Loan applications are subject to credit approval. Interest rates are subject to change. Fees and charges may apply.
The Canstar 5-Star Rating was awarded on 5th November 2020 for the Unsecured Personal Loan - Excellent Credit product for the Unsecured Personal Loan profile.
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