ECU Australia Learner Advantage

ECU Australia Learner Advantage

Fee Free Deposit


Account Keeping Fee


Australian students can take advantage of a transaction account from ECU that is structured to fit in with their busy lifestyle.

  • Exclusive to full-time students, apprentices and trainees over the age of 18
  • No monthly fees
  • Up to 8 free transactions per month

Product details

With the Learner Advantage Account full-time students can keep up with their studies with the peace of mind in knowing their finances are under control. For no monthly fee to pay you are given limits on your monthly transactions, giving you reason to think twice about over spending. This is an account to consider if you want instant access to your money for those times when you really need it.

Important Information

ECU Australia Learner Advantage account is no longer available for new applications. The information provided and bank account cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.

If you would like to compare other bank accounts, please go through our comparison page.

What are the features of the ECU Australia Learner Advantage Account?

Students in Australia have a lot to consider when choosing a transaction account to help them make it through their education. There are a number of Australian banks with everyday accounts structured to meet the special needs of students, and you should compare those with the features that ECU Australia is offering you:

  • ECU membership. Any Australian is welcome to apply for membership into the ECU Australia credit union. All that is required is that you fill out an online application, pay a $10 shareholder fee and you can then open a Learner Advantage Account.
  • Availability. This account is available exclusively for full-time students, apprentices and trainees that are over the age of 18.
  • Monthly account keeping fees. Students are not charged any monthly account keeping fees.
  • Transaction limitations. You may make eight transactions each month without paying any fees. These cannot be carried over to the subsequent month if you have any leftover in the prior.
  • Transaction availability. You can make transactions at a branch, with Bank@Post, over the phone, online, by using BPAY, through ATM withdrawals, EFTPOS purchases, personal cheque and with direct debits and credits.
  • Debit card. The account is linked to an access card, allowing you to make EFTPOS purchases as well as ATM withdrawals.
  • ATM network. Your card can be used to make withdrawals at Westpac, St. George, BankSA, Bank of Melbourne and ECU ATMs. These transactions will count towards your monthly transaction limit and you will be charged $1.40 for each one if you exceed that limit. Using ATMs outside of that network could result in additional charges from the provider.
  • Withdrawal limit. You are limited to $1,000 in withdrawals per day. This limit includes cash outs from EFTPOS purchases.
  • Interest income. This is an everyday account that also allows you to earn a nominal interest on your balance if it reaches $20,000 or more.
  • Interest payment. The interest is calculated on the balance daily and paid into the account quarterly.


  • At-call availability of funds
  • Interest calculated daily and paid quarterly
  • Branch transactions, phone banking and internet banking available


  • Minimum deposit required

How do I apply for the ECU Australia Learner Advantage Account?

Before you can apply for the Learner Advantage account you will have to complete an online application to become an ECU member. You can access the secure application online on ECU website, but before doing so make sure that you are able to meet the eligibility requirements:

  • Minimum age. You will need to be able to verify that you are at least 18 years of age, both to become a member and to open a Learner Advantage Account.
  • Residency requirements. Applicants will have to be currently residing in Australia with a verifiable Australian residential address.
  • Depository requirements. There is a $10 minimum initial deposit requirement as well as a $10 fee for your share in the credit union. This fee will be refunded to you if in the future you decide to no longer with ECU Australia.

After submitting your application to become a member, you will be prompted on how to continue applying for the ECU Australia Learner Advantage Account. At this point you will want to have the following documentation readily available to ensure that your application details are correct:

  • Tax file number. ECU Australia will ask for your tax file number (TFN) or applicable exemption code so that when withholding tax on any interest earnings it will be done at the correct rate.
  • Identification. You can use your passport, driver’s licence or Medicare card to help verify your identity. You may also be asked to show your student id to confirm that you are eligible for this account.

After your application has been submitted, ECU Australia will notify you if additional information is required. If not, the details of the account will be sent to you, and your debit card mailed to your address through Australian post.


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