Community First Student Starter Account
Pay no excess fees while taking advantage of a flexible everyday account designed to help see you through your school years.
The Student Starter Account is specially designed to help Australian students keep up with their finances during their studies. The account offers convenient ways to bank while avoiding any excessive fees and charges. You will not be required to maintain any minimum balance, but you will get the flexibility of being able to shop for your books using a linked Visa Debit Card.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
|Product Name||Community First CU Student Starter Account|
|Monthly account fee||$0|
|ATM Withdrawal Fee||$0|
|International ATM Fee||$5|
|International transaction fee||3%|
|Monthly deposit required to waive account fee||N/A|
|Contactless Payments||Google Pay, Apple Pay, Samsung Pay|
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You can open this account if you’re aged between 17 and 24 and you’re a full time student. It offers all the same features of an everyday transaction account, without the monthly account keeping fee.
If you’re under 18 years old, you can also take a look at the Community First Junior Saver Account . This account charges no account keeping fee either, and also has the added benefit of paying interest on the money in the account.
You will not be charged a monthly account keeping fee with the Student Starter Account.
With this account you are free from transaction fees regardless of how many you make each month.
The Student Starter Account is only available for individuals between the ages of 17 and 24 who are studying for their first degree or traineeship full-time.
Account access methods
You are able to bank using the phone, internet, your mobile device, ATMs and at a Community First Financial Services Store. A BPAY facility is also available to help take care of your bills, and you can set up direct debits and credits through online banking.
If you qualify you can take advantage of a $500 Visa overdraft to cover any expenses that exceed your account balance.
With Community First you are able to manage your account using rediATMs, one of Australia's largest networks with over 3,500 machines around the country.
The account is linked to a Visa Debit Card which allows you to make purchases wherever Visa is accepted with the money being drawn directly out of your account. The Visa Debit Card is also used to make ATM withdrawals and deposits.
A feature of the Visa Debit Card, payWave enables you to make a point of sale purchase of under $100 without having to swipe your card or sign the receipt.
Community First is a credit union available to individuals residing in Sydney or the Central Coast Region of Australia. There are no employment requirements to become a member, but you will be asked to pay a $2 shareholder fee.
How to apply
If you are already a member, you are able to apply for this account through your internet banking platform. If not, visit the Community First website and you will be able to fill out both your membership and transaction account application online. Certain eligibility requirements do apply, including:
- Minimum age. This account is only applicable for individuals between the ages of 17 and 24 who are enrolled full-time in a secondary education institution or traineeship program. You should note that Community First no longer requires that you provide proof of enrollment annually.
- Residency requirements. Only Australian residents with an address in Sydney or the Central Coast region are permitted to become members and open the Student Starter Account.
- Depository requirements. You will not be asked to make a mandatory minimum opening deposit, other than the $2 shareholder fee.
Having the following documentation nearby as you fill out the application will help in ensuring that all of the information provided is correct:
- Tax file number. You are not required by law to provide your tax file number (TFN) or exemption code, however if you choose not to, Community First is obligated to deduct tax at the highest marginal rate plus the Medicare levy from any of your interest earnings.
- Identification. In order to verify your identity you will need to provide the details from a photo identification document such as your Medicare card, passport or driver's licence.
What happens after I submit my application?
After submitting your application you will be notified of the details of your account within a few days, and your linked Visa debit card mailed to the address that you provided.