Heritage Bank Cash Management

Heritage Bank Cash Management

Maximum Variable Rate


Account Keeping Fee


Increase your everyday money with higher interest rates while still maintaining total control of how and when you spend it.

  • Earn a high interest rate on high balance
  • Free internet, phone banking and mobile banking transactions
  • Access to over 2,900 ATMs

Product details

With the Heritage Bank Cash Management Account you can earn high interest rates when you have a substantial balance, yet still maintain complete access to your money. You are given several options when it comes time to make transactions through the account, including a linked debit card for ATM access and credit card buying power without the accrued interest that usually comes with that.

Product Name
Heritage Bank Cash Management
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Interest Rate p.a.
Up to 10 presented cheques/counter cash withdrawals/EFTPOS payments free.

What are the features of the Heritage Bank Cash Management Account?

Cash management accounts are specialty banking products designed to meet specific needs. As you compare these types of accounts amongst a number of Australian financial institutions, look carefully at the following features to see which one is the best fit for your lifestyle:

  • Account keeping fee. There are no monthly account keeping fees with this account.
  • Available transaction methods. With the Cash Management Account you can bank online, over the phone, at a branch, at ATMs, by EFTPOS, and at Bank@Post.
  • Transaction fees. Most online and electronic banking methods are fee free along with Heritage Bank ATM transactions and cash deposits made at a branch. For Network ATM transactions, EFTPOS purchases, BPAY, counter cash withdrawals and presented checks you are allowed ten free per month before incurring charges. For Bank@Post, SMS, and overseas debit card transactions you will always be charged a fee.
  • Membership. Before being able to open a Cash Management Account you will need to be accepted as a member of the credit union. This requires you to pay $1 for your membership share.
  • Linked debit card. You can opt for a Visa debit card to be linked to your account, giving you the ATM and purchase benefit that Visa provides, without the interest being charged to you for its use.
  • ATM network. Heritage Bank ATMs are available for you to draw cash from and make balance enquiries free of charge. You can also use any ATM in the Westpac group, which includes Westpac, St.George, Bank of Melbourne and BankSA, although you may have to pay a fee of $1.75 for those transactions if you exceed the monthly limit of ten.
  • Overseas ATM fees. You are able to use the linked debit card when traveling overseas, but will be charged $5 for each transaction.
  • Interest rates. This account is designed to benefit those who have a considerable amount of money they want to keep access to. The interest rate for balances under $10,000 is nominal, while you begin to earn a more competitive rate on higher balances. These tiered rates continue to increase after you reach $50,000 and then again at $250,000 while the highest rates are paid on balances of over $500,000.
  • Interest payments. The applicable rate is applied on your daily balance and paid into the account quarterly.
  • Ongoing balance. In order for the account to remain active, you must maintain a minimum balance of at least $1.


  • Free internet and online banking
  • Free Heritage ATM transactions
  • Linked Visa debit card with chequebook and passbook


  • Limited number of transactions per month

How do I apply for the Heritage Bank Cash Management?

You are able to apply for the Cash Management Account at the same time you apply for your membership to the credit union online. Before you click “Go to Site” to begin your application review the following requirements to ensure that you are eligible for this account:

  • Minimum age. In order to apply for this account online you must be at least 18 years of age.
  • Residency requirements. Australian permanent residents and citizens are welcome to apply for the Cash Management Account.
  • Depository requirements. There is a minimum opening deposit requirement of $1.

It will help to facilitate filling in the application if you have the following documentation readily available:

  • Tax file number. By providing Heritage Bank with your tax file number (TFN) or exemption code, you can avoid having withholding tax deducted from your interest earnings at the highest marginal rate.
  • Identification. Information found on your driver’s licence, passport or Medicare card will be used to help verify your identity online.

Once you have successfully completed the application and submitted it to Heritage Bank, they will contact you with the account number and other details so that you may begin making your deposits and regular transactions. The linked debit card will be sent to the address you provided and will need to be activated before you can begin making any cash withdrawals or purchases from your account.

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