In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other transaction accounts
  • Your reviews
  • Ask a question
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BankSA Society Cheque Account

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BankSA Society Cheque Account
Account keeping fee
$0
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$5
Overseas transaction fee of transaction value
3%

Our verdict

This is a low-cost bank account for non-profit organisations that provides easy access to funds.

The BankSA Society Cheque Account is best suited for non-profit organisations such as schools, community and sporting groups, charities and government agencies. Often these groups need to make a lot of deposits into the account, and this account allows for unlimited free deposits. You can elect several account holders too, which means a number of people are able to make deposits into the account.

Pros

  • $0 monthly account keeping fee
  • Free unlimited everyday net and phone banking
  • Competitive interest rate

Cons

  • Benefits are for specialist groups only

In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other transaction accounts
  • Your reviews
  • Ask a question

Approved office bearers at non-profit groups get deposit-only cards, so numerous people can make deposits into the account. You don’t have to pay any monthly account keeping fees and you can make unlimited transactions using online and phone banking for free. Please note the interest rate displayed is for balances above $500.

Details

Key details

Product Name BankSA Society Cheque Account
Monthly account fee $0
Card access No Debit card
Own network ATM fee $0
International ATM Fee $5
International transaction fee 3%
Monthly deposit required to waive account fee N/A
Contactless Payments N/A

Eligibility

Joint account availability No
Minimum opening deposit $1

Key features

Account keeping fees

Charities, schools, and community and sporting groups don't have to pay any ongoing monthly account keeping fees.

Access to funds

You can access funds in your account at any time using BankSA's Internet and phone banking platforms. You can transact by walking into any BankSA branch. If you wish to write cheques you can get an optional chequebook. This account allows automatic payments and deposits as well as express deposits. It also lets you pay bills via BPAY.


How to apply

Documentation needed

You can apply for this account by visiting your nearest BankSA branch, you can get started over the phone and you can apply online. You'll have to provide different documents depending on the kind of organisation you represent.

  • Charities. You'll have to provide the constitution of your charity, notice of endorsement for charity tax concession from the Australian Taxation Office, minutes and certificate of registration or incorporation from a relevant government department or the Australian Securities and Investment Commission (ASIC).
  • Community and sporting groups. Prepare to provide the constitution of your group, minutes and certificate of registration or incorporation from a relevant government department or ASIC.

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Alison Finder

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