Finder makes money from featured partners, but editorial opinions are our own.

Our verdict

With Illawarra Credit Union you get a full service transaction account that provides you with plenty of ways to take care of your banking needs.

This is an everyday bank account to help you manage your general, day-to-day banking and make daily purchases with your own money. Keep in mind that you need to keep your account balance above $2000 otherwise a monthly account fee of $6 applies.

This account could be suited to you if you’ve got another product with Illawarra Credit Union (like a loan, term deposit or savings account) and want to keep all your banking in the same place. Although all Australians are welcome to join the credit union, if you like to bank in branch it might be better suited to those living within the Illawarra region.

Pros

Access your money 24/7
Linked Visa debit card
BPAY available

Cons

Minimum opening balance required
$6 monthly account keeping fee

The Illawarra Credit Union is a member owned financial service provider, open to all Australians to join. The Everyday Account is structured the same like any bank’s everyday accounts, giving account holders benefits like internet banking, Visa debit card access and over the counter transactions. With a number of options for handling your day to day banking needs, you will find it easy to manage your spending.

Details

Key details

Product Name	Illawarra Credit Union Everyday Account
Monthly account fee	$6
Card access	Visa
Own network ATM fee	$0
International ATM Fee	3%
International transaction fee	3%
Monthly deposit required to waive account fee	$2,000
Contactless Payments	Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay

Eligibility

Minimum Age	18
Joint account availability	Yes
Minimum opening deposit	$1
Residency status	Permanent Australian residents with an Australian address

Key features

Membership

In order to apply for any banking product with Illawarra Credit Union, you must first apply to become a shareholder. The fee is $2 to join, and membership is open to all Australians.

Monthly account keeping fees

The account keeping fee is based on how much money you have in all of your Illawarra accounts. In months where that total is less than $2,000, you will be charged a $6 account keeping fee.

Account accessibility

You can access your account around the clock using mobile, internet and phone banking. ATM, EFTPOS and Visa debit card purchases are also part of the account as is a cheque book facility, electronic transactions, and in branch transactions.

Visa debit card

The account may be linked to a Visa debit card, which gives you direct access to your cash, and is welcomed in more places around the world than any other card. Use it to make purchases online and over the phone, as well as at point of sale terminals in your favourite shops.

Visa payWave

A feature of the Visa debit card, payWave allows you to make purchases of under $100 simply by waving your card at the terminal.

ATM withdrawals

You are charged a $2 fee for making cash withdrawals with your Visa debit card.

Withdrawal limits

There is a combined EFTPOS and ATM withdrawal limit of $1,000 daily.

Foreign transaction fee

3% of the Australian dollar amount is charged to your account for transactions that involve converting foreign currency to the Australian dollar.

How to apply

Eligibility

Illawarra Credit Union makes it easy to apply by providing a link to an online application that can found by visiting their website. First, however, you will need to become a member, which can also be done by filling out an online application. Other eligibility requirements directly related to the Everyday Account include:

Minimum age. Illawarra Credit Union does not specify any minimum age requirement either for becoming a member or opening this transaction account.
Residency requirements. Only Australian permanent residents or citizens are eligible for the Everyday Account.

Minimum age. Illawarra Credit Union does not specify any minimum age requirement either for becoming a member or opening this transaction account.
Residency requirements. Only Australian permanent residents or citizens are eligible for the Everyday Account.
Depository requirements. The minimum opening balance is one dollar for this everyday account.

Documentation needed

If you are eligible for the Everyday Account and are getting ready to proceed to the application the following documentation will be useful to have on hand in order to make sure it is completed correctly:

Tax file number. While not obligatory, Illawarra Credit Union will use your tax file number (TFN) and/or TFN exemption codes to determine how much tax to withhold on any interest earnings you may receive.
Identification. Identification documents acceptable include your driver's licence, passport or Medicare card.
Member number. You Illawarra Credit Union member number will be asked for as you complete the application.

What happens after I submit my application?

Opening a new transaction account should only take a couple of days so long as you provide the necessary information and Illawarra Credit Union is able to verify your identity. Once activated, the BSB and account number will be sent to you along with your new Visa debit card.

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Staff Finder

Writer

Hi there, looking for more information? Ask us a question.

You are about to post a question on finder.com.au:

Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
finder.com.au is a financial comparison and information service, not a bank or product provider
We cannot provide you with personal advice or recommendations
Your answer might already be waiting – check previous questions below to see if yours has already been asked

Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Denis

January 12, 2017

trying to find my new estatement to check bill payments

Anndy Lou Finder

January 12, 2017

Hi Denis,

Thanks for your question.

If you want to check your statement, you can view it when you log into Illawarra Credit Union internet banking. You can also visit a local branch and request them to print your statement, for a fee.

Cheers,

Anndy

Illawarra Credit Union – Everyday Account

Pros

Cons

Key features

Membership

Monthly account keeping fees

Account accessibility

Visa debit card

Visa payWave

ATM withdrawals

Withdrawal limits

Foreign transaction fee

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Your reviews

Important information about this website

Advertiser Disclosure

How we make money

Sorting and Ranking Products

Terms of Service and Privacy Policy