Everyday bank account.
A transaction account for anyone over 18 that helps you keep everything in check. It's your everyday hero account.
Here's what you need to know.
It’s easy to apply online.
You’ll need to be 18 or over to open an Everyday bank account. A minimum of $1 is required to open the account and it’s limited to one account per membership.
What you’ll need.
- An email address and contact number
- Member number (If you’re already a customer)
- If your not already a customer you’ll need an Australian driver’s licence, Medicare card, passport details or Australian birth certificate to identify yourself
Interest and fees.
| Balance | Interest Rate |
| $0+ | 0.00% p.a. |
| Account Keeping Fees | |
| Monthly account keeping fee | $6 |
To reduce or cancel your credit limit complete our online form or call us on 1300 132 249.
Save on fees.
Say goodbye to your monthly account keeping fee, simply by following our tips below:
- Deposit at least $2,000 into your account each month; or
- Ensure your average membership balance is $50,000 or above. This includes all loans and deposits in your name. It’s a great excuse to consolidate your banking with Illawarra Credit Union.
Transaction fees and charges may apply, please refer to our Fees and Charges.
What makes it so great ?
Tap & Go .
It’s easy with your Visa card, or our increasing options of Pays and wearables. The choice is yours with Illawarra Credit Union.
24/7 digital banking.
24/7 access with e-statements, internet banking & our moneytree app – banking from your phone or tablet.
More ways to pay.
Tap your own way – Google Pay™, Apple Pay®, Samsung Pay®, Fitbit Pay™ and Garmin Pay™.
Instant payments.
Make a payment and know it has been received and cleared in minutes – Osko® & PayID.
Deposit your pay.
Say goodbye to your monthly account keeping fee, simply by depositing at least $2,000 into your account each month.
Government Guarantee.
The Australian Government guarantees aggregated deposits with Australian authorised deposit-taking institutions, including Illawarra Credit Union, of up to $A250,000.
The Financial Claims Scheme (FCS) is an Australian Government scheme that was established during the 2008 global financial crisis to provide financial protection for consumers in the unlikely event of a failure of a bank, credit union, building society or general insurer.
The FCS provides protection for depositors of banks, credit unions and building societies that are incorporated in Australia (also known as authorised deposit-taking institutions or ADIs), for deposits up to $250,000 per account holder per ADI. The scheme aims to return deposits to account holders within seven days of activation of the FCS.
The FCS can be activated by the Australian Government in the unlikely event that an ADI or general insurer fails.
Once activated, the FCS will be administered by APRA.
The objectives of the FCS are to:
- protect depositors of ADIs, and claimants of general insurers, from potential loss in the unlikely event of the failure of these institutions;
- provide depositors with prompt access to their deposits that are protected under the FCS; and
- support the stability of the Australian financial system.
Further information about the Government Guarantee can be obtained from the APRA website at www.fcs.gov.au.
We're here for you .
Are you a First Home Buyer?
With as little as 5% deposit, eligible first home buyers have the opportunity to purchase a property through the First Home Guarantee (FHBG).
Find out moreEveryday Bank Account FAQs
An everyday bank account is a transaction account designed for individuals over 18 who need a convenient way to manage their funds and facilitate payments. It’s essentially your everyday hero account, helping you keep everything in check. This Everyday account offers key features such as at-call funds, a minimum initial deposit of just $1, no interest earnings, and access through card, internet banking and banking app. It may come with a monthly account-keeping fee unless you meet the monthly minimum deposit or overall membership value criteria and is limited to one per membership.
The main difference between Everyday bank accounts and savings accounts lies in their purpose and features. Everyday bank accounts are designed for daily transactions, offering features like card access and online banking to manage day-to-day finances efficiently. They typically do not earn interest. On the other hand, savings accounts are intended to save money over time and usually offer interest on the balance, helping your savings grow. They might not provide the same level of access as everyday accounts, such as card or cheque facilities, as their primary goal is to encourage saving. This is why it’s so important to make sure you’ve made the right choice before opening an Everyday bank account.
When you apply for a Visa Debit card, it’s comforting to know that fees are minimal. Our members enjoy accessing over 10,000 ATMs across Australia without incurring the $2.50 ATM operator fee, making cash withdrawals convenient and cost-effective. To view a full list of banks with fee-free ATMs, visit www.ratecity.com.au/bank-accounts/news/banks-allow-free-atm-withdrawals
For Everyday bank accounts, the daily limits for ATM withdrawals are $2,000 from ATM and Bank@Post. The limit for BPay, Pay Anyone, and Osko transactions is up to $5,000. Limits can be increased via the moneytree app or online banking. for larger transfers and payments.
This limit includes $2,000 for ATM and Bank@Post withdrawals and $5,000 for transactions such as BPay, Pay Anyone, and Osko.
If you notice an unfamiliar transaction on your everyday bank account, immediately contact us here.
Once you apply for a Visa Debit card and receive it, linking it to your digital wallet for contactless payments is seamless. This feature enables you to enjoy the convenience of quick, secure transactions using Google Pay, Apple Pay, Samsung Pay, Garmin Pay, and Fitbit Pay, further enhancing the versatility of your Visa Debit card for everyday use.
Once you apply for a Visa Debit card and receive it, linking it to your digital wallet for contactless payments is seamless. This feature enables you to enjoy the convenience of quick, secure transactions using Google Pay, Apple Pay, Samsung Pay, Garmin Pay, and Fitbit Pay, further enhancing the versatility of your Visa Debit card for everyday use.
Activating your Visa Debit card and setting up a PIN is straightforward. You can quickly activate your card and create a PIN through internet banking by logging in and selecting ‘Accounts’. Next, choose ‘card activation’ and follow the subsequent prompts.
Alternatively, our moneytree mobile banking app offers a simple activation process under the ‘cards’ menu. For those who prefer personal assistance, calling us at 1300 132 249 is always an option. These methods ensure you can use your Visa Debit card securely and conveniently.
Yes, you can use your Visa Debit card abroad to make purchases or withdraw cash, allowing you to access your funds internationally. Remember that a 3% transaction fee applies to overseas purchases or withdrawals, and foreign ATMs may also charge their own withdrawal fee.
This fee is in place to cover the costs associated with processing transactions in foreign currencies and the operational costs of facilitating your card’s use outside the country. To manage these fees effectively, consider planning your transactions and exploring other payment options when travelling abroad. Awareness of these fees can help you make informed financial decisions, ensuring you enjoy your travels without worrying about unexpected expenses.
Always consider the current conversion rate when using your card abroad.
Before travelling, it’s crucial to notify us, allowing us to monitor your transactions for added security during your trip.
If your Visa Debit card is lost or stolen, immediate action is necessary. Our moneytree app provides a straightforward process to report your card as damaged, stolen, or lost. Simply log in, navigate to the ‘cards’ section, and follow the prompts to secure your account and order a replacement card. If you don’t have the app, it can be downloaded easily. Additionally, you can contact our Visa Debit support at 1300 132 249 during the Illawarra Credit Union’s business hours or 1800 648 027 outside business hours for immediate assistance.
Important notes
Illawarra Credit Union Limited is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and the Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request.
BPAY® registered to BPAY Pty Ltd ABN 69 079 137 518. Osko® is a registered trademark by BPAY Pty Ltd ABN 69 079 137 518. Android, Google Pay, and the Google Logo are trademarks of Google LLC. Apple, the Apple logo and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Watch is a trademark of Apple Inc. App Store is a service mark of Apple Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Fitbit and the Fitbit logo are trademarks or registered trademarks of Fitbit, Inc. in the U.S. and other countries. Garmin, the Garmin logo, and the Garmin delta are trademarks of Garmin Ltd.
Illawarra Credit Union Limited is the product issuer of the deposit and payment products. Any advice given is of a general nature only and does not take into consideration your objectives, financial situation or needs. Please consider the appropriateness of the advice before acting. Refer to the Account and Access Facility Conditions of Use and our Fees and Charges for more details. Fees and charges are payable. Terms and conditions apply and are available on request.
