ECU Australia Basic Everyday Access

ECU Australia Basic Everyday Access

Fee Free Deposit


Account Keeping Fee


With ECU you get flexibility in how you choose to manage your day-to-day spending.

  • Linked Visa debit card
  • Phone, internet banking available

Product details

The community owned ECU offers its members a way to take charge of everyday banking needs in a variety of ways. Use a linked debit card to make purchases and withdrawals and take advantage of online banking to make your monthly payments paid straight out of your account. This is a simple transaction account that puts you in charge of how your money is handled.

What are the ECU Australia Basic Everyday Access Account features?

ECU is an Australian credit union providing the same financial services as you find with the banks. Look at the features of transaction accounts offered by those banks and compare them to what you will get with ECU’s Everyday Access Account to see where your money will receive the most benefit:

  • Membership. Any Australian is welcome to become an ECU shareholder and member by filling out an online application and paying the $10 fee.
  • Monthly account keeping fees. You pay a $5 fee each month when banking with this account.
  • Fee exemptions. Members who maintain a monthly credit balance of $1,000 can have the monthly fee waived as can members with a minimum monthly credit or debit balance of $30,000. You could also be exempt from fees if you have an ECU home loan package.
  • Transaction limit. You are allowed up to 20 free transactions a month. These do not accrue, meaning that if you only make 15 month, you are not given 25 in the next.
  • Free transactions. Transactions that don’t count against your monthly limit include cash and cheque deposits in Australian dollars, internal transfers under the same membership number, Visa debit card purchases where credit or PayWave is selected and online purchases using e-teller or Telelink.
  • Interest earnings. For balances of $20,000 or more you will earn a nominal interest on your balance.
  • Interest payments. The interest rate is calculated on the balance daily and earnings deposited into the account quarterly.
  • Methods of access. Your account and money can be accessed in a branch, at an ATM, through EFTPOS, online, over the phone, with Bank@Post, by using BPAY, with a personal cheque facility and with direct credits and debits.
  • Linked debit card. The Everyday Access Account is linked to either a Visa debit card or Access Card.
  • Transaction limits. You are permitted a combined total of $1,000 in withdrawals and EFTPOS transactions.
  • ATM access. By using ATMs in the Westpac, St.George, BankSA, Bank of Melbourne and ECU network you will avoid paying any additional charges.


  • Linked Visa debit card
  • Phone, internet banking available


  • Limited amount of free transactions per month
  • Monthly fee applies

How do I apply for the ECU Australia Basic Everyday Access Account?

In order to apply for the ECU Australia Basic Everyday Access account you first need to become a member of the credit union. This application can be accessed by applying online. There is certain eligibility requirements you will have to meet in order for your application to be considered:

  • Minimum age. You must be able to verify that you are at least 18 years of age.
  • Residency requirements. While there are no industry requirements to meet in order to become a member of ECU, you do have to be a resident of Australia with a residential address within the country.
  • Depository requirements. In order to become a member you will need to purchase a share for $10. If you choose in the future to forfeit that membership this fee will be refunded to you. Opening the account also requires a $10 initial deposit.

Once you have become a member of ECU Australia you will be prompted on how to continue applying for the Everyday Access Account. When filling out that application, you will want to have the following documentation close by in order to ensure its accuracy:

  • Tax file number. Your tax file number (TFN) or exemption code information is used by ECU Australia to determine the correct withholding rate on any interest earnings.
  • Identification. ECU Australia is obligated by law to first verify your identity before they can issue an account in your name. This is done using your driver’s licence, passport or Medicare card in most instances.

ECU Australia will accept and review your application, notifying you of any additional steps that you need to complete before activating your account. Once all of the information has been verified, the account will be opened and the debit card that you chose when applying mailed to your address.

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