Community First Everyday Access Account
Community First Credit Union gives you plenty of options to customise your everyday account to meet your needs.
With the Everyday Access Account you have the buying power of a Visa debit card plus you get to choose if you need an overdraft, cheque book or deposit. This lets you personalise your everyday banking account to suit you.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This account could be suited to customers who have another banking product with community First, for example a home loan, and want to link a day-to-day account they can easily access. However, there are quite a few additional fees charged with this account in comparison to other everyday transaction accounts.
There’s no monthly account keeping fees, but there is a $2 monthly fee if you choose to link a debit card to the account. However this fee is waived if you also have a home loan with Community First. There’s also a fee of $1.10 when you use your debit card for EFTPOS purchases, a $1.50 fee for all ATM withdrawals in Australia, a $5 fee for overseas ATM withdrawals and a 3% international transaction fee.
It is, however, free to use your debit card for purchases when you select ‘credit’ at the terminal, and all BPAY payments are free of charge.
In order to take advantage of the Community First Everyday Access Account you must first become a member of the Community First Credit Union. This step can be completed as a part of applying for the account.
Monthly account keeping fees
Community First does not charge a monthly service fee for this account.
You have the choice of a Community First Debit Card or McGrath Visa debit card. With both cards you are able to access your account and make withdrawals at any of the 3,000 rediATMs in Australia.
Visa debit card
The Visa debit card gives you the same flexibility for making purchases and withdrawals as the credit card would, except the funds are withdrawn directly from your account. You can use this card when shopping in a store, online or even over the phone.
To make the account more convenient for your circumstances, you can choose to add an overdraft account, personal cheque book or a personal deposit book.
Deposits can be made electronically, at a Community First service centre or over the counter at a NAB branch.
How to apply
If you find that the features of the Community First Everyday Access Account are in line with your banking needs, you can apply online. There are some eligibility requirements you will need to have to meet first in order for your application to be considered:
- Minimum age. Applicants will need to be at least 18 years of age in order to be considered for the Everyday Access Account.
- Residency requirements. You can apply so long as you are an Australian resident with an Australian residential address in Sydney and the Central Coast Region.
- Depository requirements. There are no deposit requirements made by Community First in order to open this account.
If you are not already a member of Community First you will be directed to fill out a membership application first. This will also entail paying a onetime $2 fee to become a shareholder in the credit union. In addition to your new membership number you will also need the following documentation in order to complete the application in its entirety:
- Tax file number. Your tax file number (TFN) or exemption code is not mandatory, but it does help in ensuring that your earned interest is having any taxes withheld at the correct rate.
- Identification. Your passport, Medicare card or driver's licence will serve as identifying documents for filling out the application.
What happens after I submit my application?
While you are applying you will also be asked to choose the type of debit card you wish to have linked to the account as well as whether you need cheque book or passport access. After your application has been submitted and approved you will be notified of the details of the account and your debit card will be mailed to the address you provided.