CUA Everyday 55+ Account
Pay no account keeping fees, earn interest on your everyday funds and make secure contactless payments on the go with your phone.
The CUA Everyday 55+ Account is an everyday bank account for Australians aged 55 with no account keeping fees. This account rewards you with a tiered rate of interest on your everyday funds and includes a linked Visa Debit Card.
ImportantAs of 4 February 2019, this product is only available to existing customers. It is no longer available to new customers. For existing customers, variable interest rates still apply.
Tiered interest rate up to 2.6%
The CUA Everyday 55+ Account has a tiered interest rate, as shown in the table below. Interest is calculated daily and paid to your account on the last day of the month.
|$4,999 and under||0.01%|
|$5,000 - $49,999||0.85%|
|$50,000 and higher||2.6%|
No deposit conditions to earn interest
There are no monthly deposit or withdrawal conditions. This account gives you access to your money whenever you need it as well as interest.
Linked Visa Debit Card
This account comes with a free linked Visa Debit Card which you can use to make cash withdrawals at ATMs, pay in stores or online wherever Visa is accepted. The debit card comes with Visa payWave so you can make tap-and-go payments without entering a PIN for purchases less than $100.
Pay no withdrawal fees at more than 10,000 ATMs Australia-wide
Use the Visa Debit Card to make free ATM withdrawals from CUA ATMs, as well as any ATM in the CBA, NAB, ANZ or Westpac network.
Pay your bills by making BPAY payments from CUA internet or mobile banking.
Apple Pay, Google Pay and Samsung Pay available
You can add your CUA Visa Debit card to Android Pay or Apple Pay to start making secure contactless payments on the go with your phone.
CUA Internet and mobile banking
Download the CUA mobile banking app to your smartphone or tablet to check your account balance, pay bills and review your transaction history 24/7.
The government will guarantee your deposit up to $250,000.
How to applyYou can open this account online in less than 10 minutes.
- Age. You must be 55 years or older to apply for this account.
- Australian resident. You must be an Australian resident with a registered residential address (this is the address your Visa Debit Card will be sent to).
- Membership. If you're already a CUA member you'll need to supply your membership number. Otherwise you can join when you go through the application process.
- Primary identification. You'll need to supply ID in the form of an Australian driver's licence, government issued proof of age card, Australian passport or Medicare card.
- Contact details. You'll be asked to provide your full name, phone number and valid email address.
- Tax File Number. It's not compulsory to provide your Tax File Number (TFN) to CUA. However if you don't give this information to CUA, they will withhold tax on any interest earnings at the top marginal tax rate.
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.
Enjoy the convenience of being able to make secure contactless payments with your phone, by linking your debit card to Apple Pay, Google Pay or Samsung Pay.