CUA Everyday 55+ Account

CUA Everyday 55+ Account

Maximum Variable Rate

0.85

Standard Variable Rate

0.85

Pay no account keeping fees, earn interest on your everyday funds and make secure contactless payments on the go with your phone.

  • Linked Visa debit card
  • Access to RediATM network (free withdrawals if you withdraw $50+)
  • Earn a competitive interest rate
  • Android Pay and Apple Pay available

Product details

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.

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.

Product Name
CUA Everyday 55+ Account
Maximum Variable Rate
0.85% p.a.
Standard Variable Rate
0.85% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$0
Minimum Opening Deposit
$0
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Minimum Age Requirement
55
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the CUA 55+ Account features?

Compare these features of the CUA Everyday 55+ Account with other transaction accounts in the market.

Tiered interest rate up to 2.60%.

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.

Balance Interest rate
$4,999 and under0.01%
$5,000 - $49,9990.85%
$50,000 and higher2.60%

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.

BPAY payments.

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.

Government guarantee.

The government will guarantee your deposit up to $250,000.

Pros

  • Linked Visa debit card
  • No monthly account fee
  • Earn interest on your balance

Cons

  • Need to be at least 55 years of age

How do I apply for the CU Everyday 55+ Account

You can open this account online in less than 10 minutes.

Eligibility criteria

  • 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.

Documents needed

  • 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.

 

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6 Responses

  1. Default Gravatar
    BruceOctober 17, 2018

    How do I open a CUA 55+ account please?

    • Default Gravatar
      JoelOctober 17, 2018

      Hi Bruce,

      Thanks for leaving a question on finder.

      To open the CUA Everyday 55+ Account, visit a CUA branch or get in touch with a CUA representative over the phone. If you’re an existing CUA member, you can apply for this account by logging on the CUA Internet banking facility.

      Eligibility criteria for this account applies as follows:

      1. Age. You must be 55 years or older to apply for this account.
      2. Deposit. You must make a minimum deposit of $1 when you open this account.
      3. Membership. You must be an existing CUA member to open this account or to apply online. Visit a CUA branch and provide the identification documents listed below to become a member of the credit union.

      Please send me a message if you need anything else. :)

      Cheers,
      Joel

  2. Default Gravatar
    BruceOctober 17, 2018

    I have $60,000 to place on term deposit. What are your offers please?

    • finder Customer Care
      JhezelynOctober 18, 2018Staff

      Hello Bruce,

      Thank you for your comment.

      CUA actually has Term Deposit Account wherein their terms are really flexible. You get to choose a term length from one month to five years. See the interest rates per term here. You also have the option of having interest paid to you monthly, annually or at maturity.

      Alternatively, you may also confirm other term deposit accounts here. After comparing, please click the Go to Site button of your preferred account to apply. Please make sure that you’ve read the relevant T&Cs or PDS of the account to help consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  3. Default Gravatar
    CoralNovember 19, 2016

    My husband and I have a joint account with you already.
    We would like to open a second over 55 account.
    I know I can do this online.
    How can I transfer my all of money from a different bank to you easily?

    • finder Customer Care
      ShirleyNovember 21, 2016Staff

      Hi Coral,

      Thanks for posting your question on finder.com.au.

      When you open your second CUA Everyday 55+ account, you will receive a BSB and account number when the account is active.

      You can then use these details to be your recipient details and process the transfer via online banking.

      Hope this helps,
      Shirley

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