Heritage Bank Money Manager

Heritage Bank Money Manager

Fee Free Deposit


Account Keeping Fee


Manage your money and earn interest on your balance from one easy-to-use account from Heritage Bank.

  • Enjoy a hybrid term deposit and transaction account
  • No account keeping fee
  • Phone, internet and mobile banking available

Product details

With the features you need to manage your everyday transactions and interest paid on your ongoing balance, the Heritage Bank Money Manager makes it simple to keep track of your spending and saving. You are offered unlimited transactions each month with a number of ways to access your money, including ATM withdrawals using a linked Visa debit card.


As of 24 October 2019, this product is only available to existing customers. It is no longer available to new customers. For existing customers, variable interest rates still apply.

Review more banking products from Heritage Bank

What are the features of the Heritage Bank Money Manager account?

The Money Manager account gives you a number of features to think about when comparing various accounts. Weigh these against what other banks are offering to help you decide if this is an account that works with your banking style:

  • Monthly account keeping fees. There are no account keeping fees deducted from the balance of this account.
  • Interest calculation. The interest is calculated daily, but deposited into the account every three months. The rate is fixed for each three month period.
  • Minimum balance. This balance on this account is not allowed to fall below $1.
  • Accessing your money. With this account you have the options an EFTPOS card, Visa debit card, cheque facility or passbook to access your money.
  • Visa debit card. The Visa debit card withdraws money straight from your balance, and can be used to make ATM withdrawals as well as purchases in person, online and over the phone.
  • ATM accessibility. You are allowed an unlimited number of free ATM transactions in the Heritage Bank network. Heritage Bank also allows for ten free transactions at Westpac, St.George, BankSA and Bank of Melbourne ATMs. If you exceed ten transactions in one month, you will be charged $1.75 for each subsequent withdrawal or balance enquiry.
  • EFTPOS transactions. You are also allowed ten EFTPOS transactions each month, and will be charged $1 for each one after you have reached the limit.
  • Electronic transfers. An unlimited number of direct credits and debits are allowed each month free of charge.
  • BPAY. You are allowed ten BPAY payments, counter cash withdrawals and presented checks each month before being charged $1 for each one.
  • International cash withdrawals. If you use your Visa debit card to make overseas withdrawals you will be charged $5 for each transaction plus a fee for converting the currency.
  • Membership. Heritage Bank is a member owned Australian financial institution. In order to take advantage of this, or any, account with them you must first apply to become a member and pay a share holder fee.


  • Free internet, mobile and phone banking
  • $0 account keeping fee
  • Unlimited deposits, transfers and withdrawals


  • Fees apply on Bank@Post transactions
  • $5 fee for ATM withdrawals overseas
  • Currency conversion fee applies on top of the ATM withdrawals made overseas

How do I apply for the Heritage Bank Money Manager account?

You can apply for the Money Manager account online if you are already a member of Heritage Bank. If not, you will first need to apply for membership online and pay a fee of $1 for your share. Once you have completed that step, check that you meet the other qualifying criteria before you begin the online application:

  • Minimum age. There is no age requirement for the Money Manager account.
  • Residency requirements. Members of Heritage Bank must be Australian residents with a verifiable Australian address.
  • Depository requirements. You will need to make an initial deposit of at least $1.

After becoming a member and clarifying that you meet the eligibility requirements for this account, you will need to have the following documentation handy in order to continue with the application:

  • Tax file number. By providing your tax file number (TFN) or TFN exemption code, you will be avoiding be taxed at the highest marginal rate on your interest earnings.
  • Identification. Heritage Bank is obligated by law to first confirm your identity using your passport, driver’s licence or Medicare card.

Upon receiving your application online, Heritage Bank will confirm the information provided and send you the details of your new account. If you opted for an EFTPOS or Visa debit card, that will be sent to you via Australia post.

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2 Responses

  1. Default Gravatar
    LindsayJanuary 2, 2017

    To open an account and later a term deposit:-
    How do you become a member?
    What is the shareholding fee?

    • Avatarfinder Customer Care
      DeeJanuary 2, 2017Staff

      Hi Lindsay,

      Thanks for your question.

      You can apply for the Heritage Bank Money Manager account online if you are already a member of Heritage Bank. If not, you will first need to apply for membership online and pay a fee of $1 for your share.

      To apply for membership, just go to Heritage website, under “personal” choose “forms.” You can then select the form “Open a Personal membership” under New Accounts. Please fill-out the form and follow the prompts.

      I hope this helps.


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