Great Southern Bank

Great Southern Bank savings and bank accounts

Great Southern Bank (previously CUA) has a range of different savings and bank accounts available, including accounts for youth, students and seniors.

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NOTE: On 1 June 2021, Credit Union Australia (CUA) changed its name to Great Southern Bank. If you're an existing CUA customer you should have been notified directly about these changes.

Great Southern Bank savings accounts, bank accounts and term deposits

Name Product Card access ATM Withdrawal Fee Fee Free Transactions p.m. Monthly account fee
Great Southern Bank Everyday Account
Visa
$0
$0
Enjoy flexible payment options and access to a wide network of ATMs.
$0 monthly account fee.
Access to Google, Samsung and Apple Pay. Enjoy fee-free cash withdrawals from 10,000+ ATMs across Australia.
Great Southern Bank Everyday Snap Account
Visa
$0
$0
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
Great Southern Bank Everyday Youth Account
Visa
$0
$0
Designed for young Australians between 10 and 17 years old, a Great Southern Bank Everyday Youth Account is designed to make everyday banking easier.
Great Southern Bank Everyday Business Account
Visa
$0
$0
With no monthly account keeping fees and a linked Visa Debit card for easy access to your funds, this account is designed for your daily business spending. Option to add a commercial overdraft facility to manage your cash flow.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Great Southern Bank Home Saver Account
0.95%
0.05%
0.9%
$0
Ongoing, variable 0.95% when you deposit at least $2,000 into a linked Everyday Snap Account each month and make 5 or more Visa Debit card transactions per month. Bonus interest available on balances up to $250,000.
Great Southern Bank Youth eSaver Account (10-17 year olds only)
2.4%
2.4%
0%
$0
Ongoing, variable 2.4% p.a. Available on balances up to $5,000. Available for those aged 10-17 years.
Great Southern Bank eSaver Flexi
0.35%
0.35%
0%
$0
Ongoing, variable 0.35% p.a. and at-call access to your savings. No deposit conditions or withdrawal restrictions. Available on the entire balance with no maximum balance limit.
Great Southern Bank Everyday 50+ Account - Customers aged 50+ only
0.35%
0.35%
0%
$0
An everyday transaction account for over 50s with no monthly fees, no ATM withdrawal fees in Australia and with Apple Pay, Google Pay and Samsung Pay available.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Great Southern Bank Term Deposit Account
0.50%
0.50%
0.50%
0.50%
0.50%
0.65%
0.65%
No account set-up fees or ongoing fees to pay.
The Great Southern Bank Term Deposit offers a large range of term lengths from 1 month to five years. Minimum opening deposit is $5,000.
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Name Product Card access ATM Withdrawal Fee Fee Free Transactions p.m. Monthly account fee
Great Southern Bank Everyday Account
Visa
$0
$0
Enjoy flexible payment options and access to a wide network of ATMs.
$0 monthly account fee.
Access to Google, Samsung and Apple Pay. Enjoy fee-free cash withdrawals from 10,000+ ATMs across Australia.
Great Southern Bank Everyday Snap Account
Visa
$0
$0
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
Great Southern Bank Everyday Youth Account
Visa
$0
$0
Designed for young Australians between 10 and 17 years old, a Great Southern Bank Everyday Youth Account is designed to make everyday banking easier.
Great Southern Bank Everyday Business Account
Visa
$0
$0
With no monthly account keeping fees and a linked Visa Debit card for easy access to your funds, this account is designed for your daily business spending. Option to add a commercial overdraft facility to manage your cash flow.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Great Southern Bank Home Saver Account
0.95%
0.05%
0.9%
$0
Ongoing, variable 0.95% when you deposit at least $2,000 into a linked Everyday Snap Account each month and make 5 or more Visa Debit card transactions per month. Bonus interest available on balances up to $250,000.
Great Southern Bank Youth eSaver Account (10-17 year olds only)
2.4%
2.4%
0%
$0
Ongoing, variable 2.4% p.a. Available on balances up to $5,000. Available for those aged 10-17 years.
Great Southern Bank eSaver Flexi
0.35%
0.35%
0%
$0
Ongoing, variable 0.35% p.a. and at-call access to your savings. No deposit conditions or withdrawal restrictions. Available on the entire balance with no maximum balance limit.
Great Southern Bank Everyday 50+ Account - Customers aged 50+ only
0.35%
0.35%
0%
$0
An everyday transaction account for over 50s with no monthly fees, no ATM withdrawal fees in Australia and with Apple Pay, Google Pay and Samsung Pay available.
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Great Southern Bank Term Deposit Account
0.50%
0.50%
0.50%
0.50%
0.50%
0.65%
0.65%
No account set-up fees or ongoing fees to pay.
The Great Southern Bank Term Deposit offers a large range of term lengths from 1 month to five years. Minimum opening deposit is $5,000.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Virgin Money Boost Saver (25+ year olds)
1.5%
0.1%
1.4%
$0
Intro rate of up to 1.50% p.a. for the first 3 months and an ongoing bonus rate of 1.20% p.a. thereafter when monthly criteria is met (T&Cs apply). To earn these bonus rates customers aged 25+ need to deposit at least $2,000/month into your bundled Virgin Money Go Transaction Account and make 5+ transactions/month.
Westpac Life (18-29 year olds only)
2.5%
0.15%
2.35%
$0
If you’re between 18-29, you can earn a 2.5% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your Westpac Choice account, up to a balance of $30,000.
Rabobank High Interest Savings Account
1.35%
0.25%
1.1%
$0
Maximum variable rate of 1.35% p.a. for 4 months, reverting to a rate of 0.25% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
2.5%
0.05%
2.45%
$0
Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Citibank Online Saver
1.1%
0.35%
0.75%
$0
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Virgin Money Boost Saver (18-24 year olds)
1.5%
0.1%
1.4%
$0
Intro rate of up to 1.50% p.a. for the first 3 months and an ongoing bonus rate of 1.20% p.a. thereafter when monthly criteria is met (T&Cs apply). To earn these bonus rates customers aged 18-24 need to deposit at least $1,000/month into your bundled Virgin Money Go Transaction Account and make 5+ transactions/month.
Bank of Queensland Fast Track Saver Account
1.05%
0.05%
1%
$0
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Virgin Money Grow Saver
0.65%
0.1%
0.55%
$0
Earn an ongoing variable 0.65% p.a. each month you make at least one deposit of any amount and no more than one withdrawal.
Westpac Life
0.3%
0.15%
0.15%
$0
Ongoing, variable 0.3% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
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Quick facts about Great Southern Bank

  • Great southern Bank was previously known as Credit Union Australia (CUA), before rebranding in June 2021.
  • Great Southern Bank has been around since the 1940s and is the largest customer-owned financial institution in Australia.
  • Its head office is based in Queensland, but it operates across all of Australia and all residents can join with no restrictions.
  • It has more than 500,000 customers around the country.
  • Although it's a customer-owned bank, it's still an approved ADI and your deposit up to $250,000 is protected by the government guarantee scheme.

What accounts does Great Southern Bank offer?

Great Southern Bank Everyday Account

The everyday account comes with a Visa debit card to make purchases in stores or online, and has no monthly account keeping fee. This account does charge international transaction fees, so it's best for use within Australia to avoid these fees. There's no monthly deposit condition to meet.

Read our full review of the Great Southern Bank Everyday Account.

Great Southern Bank Everyday Youth Account

Young Australians aged 10 to 17 can manage their own pocket money with this fee-free transaction account. Depending on your age you will either be issued a Visa debit card or rediCARD to use to make your daily purchases and cash withdrawals.

Read our full review of the Great Southern Bank Everyday Youth Account.

Great Southern Bank Everyday Snap Account

The Great Southern Bank Everyday Snap Account is a handy everyday account with some added travel benefits. The Great Southern Bank Everyday Snap Account will refund international ATM withdrawal fees and international card transaction fees when you deposit $2,000 or more each month and make at least 5 purchases with your Great Southern Bank Visa Debit card each month.

Read our full review of the Great Southern Bank Everyday Snap Account.

Great Southern Bank Everyday 50+ Account

This transaction account is designed to help you manage your retirement and pension funds. You'll have both online access to your money or teller assisted transactions at a local branch.

Read our full review of the Great Southern Bank Everyday 50+ Account.

Great Southern Bank Youth eSaver Account

This is a savings account for customers aged 10 to 17 years old. It's an online savings account with an ongoing interest rate no matter how many withdrawals or deposits you make in a month.

Read our full review of the Great Southern Bank eSaver Account.

Great Southern Bank eSaver Flexi Account

This is an online savings account with an ongoing, variable rate and no deposit or withdrawal conditions. Because you can't make withdrawals whenever you need to, it's a flexible account that might suit you if you don't want to commit to monthly deposit amounts.

Read our full review of the Great Southern Bank eSaver Flexi Account.

Great Southern Bank Term Deposit

With a minimum deposit of $5,000, you can lock your savings into a Great Southern Bank Term Deposit for 1 month or up to 5 years. You'll earn a fixed interest rate the whole time, in exchange for not making any withdrawals.

Read our full review of the Great Southern Bank Term Deposit.

Different ways to bank with Great Southern Bank

Great Southern Bank has limited branches, but it offers a range of other ways to do your banking.

Bank branches

Great Southern Bank only has around 40 bank branches in Australia, located mainly along the east coast of Queensland and New South Wales. You can go into a branch to get help with your day-to-day banking or to deposit cash and cheques.

ATM network

Great Southern Bank has around 3,000 ATMs around Australia. It used to be part of the rediATM network, however it stopped that partnership in 2018. Customers with a Great Southern Bank debit card can also use all CBA, NAB, Westpac and ANZ ATMs for free. You can also withdraw cash for free at Woolworths and Coles when doing your grocery shop.

Bank@Post

If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

Great Southern Bank Internet and mobile banking

Great Southern Bank offers an online banking platform that you can use 24/7 to manage your banking, as well as a mobile banking app. You can do all the usual things such as check your accounts, transfer money, pay bills, make BPAY payments and download statements.

You can access some digital tools and features to help you manage your money. The Boost feature allows you to round up your transactions and send the loose change to your savings account, so you're saving automatically. The Vault feature allows you to hide your savings from your online banking platform or mobile app, so you're removing the temptation to dip into it.

Contactless payment options

Great Southern Bank offers Apple Pay, Google Pay and Samsung Pay to customers. You can also set up your PayID in the Great Southern Bank mobile app to use instead of your BSB and Account Number, and to set instant transfers to other bank accounts.

Pros and cons of banking with Great Southern Bank

Pros

  • Customer-owned. Great Southern Bank is a customer-owned bank, which means it exists to benefit customers and members rather than shareholders.
  • Range of accounts. It offers a variety of different savings and bank account options to suit different types of customers.
  • Bonus savings rate. You can earn bonus interest on your savings when you meet the monthly deposit conditions.
  • No-fee account options. The Everyday Snap Account will refund a bunch of fees to you when you meet the deposit conditions.

Cons

  • Not that many branches. There aren't many Great Southern Bank branches, especially in smaller regional areas.
  • Savings rate is lower than others. The maximum bonus rate available on your savings is less than what's offered by some others in the market.

How to apply for a Great Southern Bank account online

You can apply for a new account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

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12 Responses

    Default Gravatar
    PrueJuly 10, 2019

    What is your highest interest rate for savings

      Default Gravatar
      NikkiJuly 10, 2019

      Hey Prue,

      Thanks for your inquiry.

      As of this writing, the savings account that owns the highest interest rate is the CUA Youth eSaver Account. As stated in our review, this account is meant for Australians between the ages of 10 and 17 who must be listed as the only account holder. No joint account holders are permitted although a parent or guardian may be given the authority to monitor the account.

      If you’d like to open an account, press the ‘Go to site’ button above to be redirected to CUA’s website. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. Feel free to reach out to the bank if you need any clarifications.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.

      Cheers,
      Nikki

    Default Gravatar
    KenMay 19, 2016

    I have an esaver account Can you please let me know what interest rate I am getting?
    Thanks

      Default Gravatar
      TonyMay 25, 2017

      Hi. I have a term deposit account with CUA, that matures soon.
      This account is for the persons over 55 years of age and last year an extra 0.1 percent was added above the advertised rate will this be added to the current rate?

      Avatarfinder Customer Care
      HaroldMay 26, 2017Staff

      Hi Tony,

      Thank you for your inquiry.

      The rate will remain the same until your term deposit account matures. It is a fixed rate for the duration of the term. When the account reaches maturity, if you opted to roll over the funds into a new CUA term deposit, the new term deposit account will receive the new rate.

      I hope this information has helped.

      Cheers,
      Harold

      Default Gravatar
      EuniceMay 12, 2017

      What interest rates do you pay on my Premium Plus account?
      I cant find any reference to a PP account on your website.
      What would be the best account for me to have access to?

      Default Gravatar
      LiezlMay 13, 2017

      Hi Eunice,

      Thank you for your question. Just to confirm though, you have come through finder.com.au, not actually CUA.

      CUA doesn’t have premium plus account, with them it’s eSaver Boost account which pays an interest rate of 2.85% p.a., provided you meet certain monthly conditions.

      As for the best account to maintain, that would entirely depend on your saving habits, financial needs and how accessible you want your savings to be.

      I hope this helps.

      Cheers,
      Liezl

      Avatarfinder Customer Care
      ShirleyMay 20, 2016Staff

      Hi Ken,

      Thanks for your question. Please note there are multiple esaver accounts.

      Could you please confirm the entire name of your savings account with CUA?

    Default Gravatar
    AllanApril 27, 2016

    What is the nearest office to post cod 3220

      Avatarfinder Customer Care
      ShirleyApril 28, 2016Staff

      Hi Allan,

      Thanks for your question.

      The closest CUA branch to your postcode is:

      Werribee
      Cnr Derrimut & Heaths Rd
      Shop 124 Werribee Plaza Werribee VIC, 3030

    Default Gravatar
    KeithJanuary 17, 2016

    Do you have an office in Perth WA

      Avatarfinder Customer Care
      ShirleyJanuary 18, 2016Staff

      Hi Keith,

      Thanks for your question.

      There is a CUA located at 321 Murray St, Perth WA 6000.

      Cheers,
      Shirley

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