CUA Everyday Youth Account
This is an everyday transaction account with no monthly fees for young Australians aged between 10 and 17 years old.
The CUA Everyday Youth Account is a convenient transaction account for day-to-day spending for young Australians. The account has no monthly account keeping fees to worry about and offers Apple Pay, Samsung Pay or Google Pay as well as comes with a free linked Visa Debit Card or a rediCard. This account provides a good start for learning how to manage your money from a young age.
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.
Customers aged 14 or older will receive a free linked Visa Debit Card with the account, and those aged under 14 will instead receive a rediCard.
No monthly fees
With the Everyday Youth Account you will not have to pay any monthly account keeping fees.
No everyday transaction fees
You can make unlimited free everyday transactions such as deposits into your account, transfers out of your account, payments using online banking and EFTPOS purchases. (But note that a fee will apply to deposits and withdrawals made using the Bank@Post facility from March 1st 2020.)
Linked debit card
The Everyday Youth Account is linked to a Visa debit card for customers over the age of 14, or a rediCard for account holders under the aged 10-14. The Visa Debit Card comes with payWave so you can make tap-and-go payments without a PIN for transactions $100 or less.
Google Pay, Apple Pay and Samsung Pay available
You can add your CUA Visa Debit card to Apple Pay, Samsung Pay or Google Pay to start making secure contactless payments on the go with your phone.
Access thousands of ATMs for free
Make cash withdrawals from any CUA ATMs as well as CommBank, Westpac, NAB or ANZ ATMs for free.
International transaction fees and overseas ATM fees apply
If you use your Visa Debit Card to make a purchase in a foreign currency you will be charged 2.75% of the purchase value for the conversion to Australian dollars. This fee also applies when shopping online in Australia from international merchants. There's also a $4.50 fee for cash withdrawals at overseas AMTs.
Available for Australians aged 10 to 17
This account is only available to individuals between the ages of 10 to 17. For account holders under the age of 14, only the rediCard will be made available. If you're 18 or older you'll instead receive the CUA Everyday Account.
Mobile banking app available
CUA offers a free mobile app for iPhone and Android devices, so you can manage your balance and make payments on-the-go.
How to applyExisting members of CUA can apply for this account through their already established online banking platform. If you're not already a member, you can apply online in a matter of minutes.
- Minimum age. Applicants must be at least 10 years of age, but no more than 17 years old. When the account holder reaches the age of 18, CUA will automatically convert this account to an Everyday Account.
- Residency requirements. You must be an Australian resident with a residential address in order to be eligible for this account.
- Depository requirements. A minimum of $1 will have to be deposited in order for the Everyday Youth Account to be activated.
- Tax file number. You will not be obligated to provide your tax file number (TFN) or exemption code, however it is used on interest earning accounts to make sure that the correct withholding tax rate is being applied, so it's a good idea to supply this.
- Identification. If a passport or driver's licence is not available for identification purposes, you may still be able to use a Medicare card, student identification card or even an Australian birth certificate to help verify your identity.
What happens after I submit my application?
After completing the application forms, they will be processed by CUA before you are given the details of your new account. Once activated you will receive the linked debit card in the mail so that you can begin using the account to make your everyday transactions.