The Everyday Account from CUA is a simply structured banking product that allows you to manage your daily cash with limited charges and fees. Multiple access methods are available including online and mobile banking, Telebanker and an SMS banking system. Or you can use your linked Visa debit card and access cash at over 3,500 ATMs around Australia.
This account offers Android Pay and Apple Pay, allowing you to make purchases securely with your phone when you don't have your wallet with you.
What are the features of the CUA Everyday Account?
In order to ensure that you are getting the most value for your money, compare the features that CUA provides with their Everyday Account to similarly structured accounts from other Australian banks:
- Monthly account keeping fees. With CUA you are not charged a monthly fee for your Everyday Account.
- Access methods. You can bank in person at any CUA branch or Bank@Post, or you can use internet and phone banking, SMS Banker or Telebanker. ATM and EFTPOS transactions are also available.
- Debit card. This account is linked to a Visa debit card, allowing you to make withdrawals and purchases wherever Visa is accepted. You will not be charged for making purchases or for cashing out in the store.
- Visa payWave. The linked Visa debit card has the payWave feature, which is used to make purchases at participating merchants by simply waving your card for purchases of under $100.
- Android Pay and Apple 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.
- ATM network. CUA is a part of the rediATM network, providing you with over 3,500 ATMs around Australia to make enquiries and withdrawals from. Fees will be charged if you withdraw less than $50.
- Mobile banking. CUA offers a free mobile app for iPhone and android devices. With this app downloaded on your mobile phone you will be able to see your available balance, set up direct debits, and add descriptions to your payments.
- SMS Banker. Using special codes provided by CUA, you can send the credit union SMS messages asking for specific information regarding your account including your balance and last five transactions. You are not charged by CUA for this service, but you may incur charges from your mobile phone carrier. Alerts can also be set up that let you know important updates to your account when they occur.
- Ongoing balance. You need to maintain a minimum of one dollar in the account in order for it to stay active.
- Mortgage offset. If you are a home loan customer with CUA you can link this account and take advantage of interest payment reductions.
- No monthly account fees
- Linked Visa debit card
- Access to RediATM network
- Limited branched
How do I apply for the CUA Everyday Account?
CUA is an Australian credit union that offers membership to anyone regardless of where you live or work. If you are already a member you can apply for this account online, otherwise you will need to visit a branch and fill out your membership application first. Other eligibility requirements you will be asked first to meet include:
- Minimum age. You must be at least 18 years of age for your application to be accepted.
- Residency requirements. Membership into CUA and the Everyday Account are available for Australian residents with residential addresses.
- Depository requirements. In order for this account to be activated you must make an opening deposit of at least one dollar.
Filling in the application forms will be made easier if you have the following documentation readily available:
- Tax file number. Your tax file number (TFN) or exemption code is used on interest earning accounts to help ensure that the correct withholding tax rate is being applied.
- Identification. Acceptable forms of photo identification documents include your passport, driver’s licence or Medicare card.
Upon verifying that the information you provided is correct, CUA will contact you with the details of your new account. You will also receive your Visa debit card, which will need to be activated before you can begin making any ATM or EFTPOS transactions.