Personal Banking / Transaction Accounts / TranXact Account

TranXact Account

At BSP, we understand how tough it is for young adults starting out in life and becoming financially independent.

Hence, we have come up with the TranXact account which is an easy-to-use, low-cost tansactional account, especially designed for students, school leavers and young working-adults.

Upon turning 18, your account will automatically migrate to the TranXact account.


  • This account is available to youths aged between 18 to 24 years.
  • Minimum opening deposit - $10
  • Minimum operating balance - Nil.
  • Electronic access to funds via EFTPoS terminals, ATMs, SMS Banking and for E-Commerce transactions.


  • Interest rates are tiered; therefore a higher balance will lead to more interest earned.
  • Four free electronic transactions per month (BSP electronic channels only).
  • Convenient access to your account via multiple electronic channels, ATMs, SMS and Online Banking.

How to get the most from your account

  • Save on a regular basis.
  • Limit your transactions to BSP electronic channels (i.e. BSP ATMs, BSP EFTPOS, SMS Banking and Online Banking) in order to take advantage of the 4 free electronic transactions per month.

Please refer to the Personal Bank Account Opening Requirements for details on how to open an account.

For more information, call our BSP Customer Contact Centre on 132 888 or (679) 3214 300, send your query through the Contact Us page or enquire at your nearest BSP branch.


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