G&C Mutual Access Account
G&C Mutual provides easy to use everyday access account with multiple ways to access your money
SGE – also known as G&C Mutual Bank – has a simple everyday access account as a part of its products that makes it easy to keep track of your daily spending. This at call account can be linked to other accounts, with a sweep facility available to help you in meeting your other financial needs.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
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This account could be suited to you if you’re looking for an easy way to access your money for everyday purchases, particularly if you’ve got another account with G&C Mutual. There’s no account keeping fees, and you’ll get a Visa Debit Card which you can use for everyday purchases as well as online.
There aren’t too many G&C Mutual branches around, so if you like to do your banking in a branch make sure you check if there’s one near you first. Otherwise, you do get access to Internet phone and mobile banking with this account.
Monthly account keeping fee
The monthly fee is determined by the number of free transactions you choose along with any special circumstances. You can pay $7 a month and have up to 18 free transactions per month. You can opt for only 8 transactions and pay no monthly fee. The $7 fee can be waived for 18 transactions per month if the primary account holder is able to meet one of the following conditions; you are under the age of 18, you hold an active mortgage, you hold a RewardMe Saver Account or you are not holding a Visa or Access debit card. Members with an active Premium Loan Package and who deposit at least $2,000 into the account each month will have unlimited free transactions.
Unlimited free transactions
Using any of these transaction methods will not count towards your monthly allowance; online banking, Moneyline, Visa debit purchase using "credit", Visa debit purchase online or over the phone, direct credits, deposits or enquiries at a G&C Mutual Bank service centre or direct debit.
The following transactions will count towards your monthly allowance; ATM withdrawals and enquiries, EFTPOS purchases using the "savings" option, member cheque, direct debits and periodical payments, withdrawals at a G&C Mutual Bank service centre, BPAY, deposits made at an ANZ branch and deposits made at Bank@Post.
Accessing your account
Phone and internet banking can be used to access your account. You have access to your account at anytime.
Accessing your money
You are giving the option of linking a G&C Mutual Bank Visa debit card to the transaction account. With this card you have instant access to the money in your account through ATMs and EFTPOS. There is also the option of having a chequebook issued with the account.
A sweep facility is a feature that keeps your accounts at a minimum or maximum balance that you set by automatically transferring money from one account to another when those thresholds are reached.
How to apply
If you are interested in applying for the Access Account, you must first become a member of G&C Mutual Bank. To do this, and to open an account, you will either need to visit a branch or call the mutual bank. You can submit an enquiry form by applying online and have a representative contact you with more details on membership, the account and applying. You should first familiarise yourself with the eligibility requirements before going ahead and beginning to apply:
- Minimum age. There are no set age requirements set for by G&C Mutual Bank for becoming a member or opening the Access Account.
- Residency requirements. Membership is open to residents of Australia.
- Depository requirements. While no opening balance requirement is mentioned, you will be asked to buy a share of the mutual bank in order to become a member.
Have the following documentation ready in order to make opening the account go smoothly:
- Tax file number. It is not obligatory to provide your tax file number (TFN) or exemption code, but it will ensure that the withholding tax rate on your interest earnings is at the correct rate.
- Identification. G&C Mutual Bank requires two of the following documents in order to verify your identity; a state or territory driver's licence or proof of age card, an Australian passport that is current or that has expired within the last two years, a foreign driver's licence with photo, a foreign passport, or a national ID card with your photo and signature.
What happens after I submit my application?
If applying in person, you should receive all of the account details and your Visa debit card once all of your information is processed.