RACQ Bank Everyday Account

RACQ Bank Everyday Account

Fee Free Deposit

0

Account Keeping Fee

0.00

With no account keeping fees, access your money where and when you need it with RACQ Bank's Everyday Account.

  • No monthly account keeping fees
  • Comes with Visa Debit Card with payWave
  • No ATM fees at over 3300 rediATMs Australia wide

Product details

Accessing your cash is easy with RACQ Bank's Everyday Account. You’ll receive a Visa debit card with access to over 3,300 rediATMs across Australia and unlimited Visa and eftpos transactions, all while paying no account keeping fees.

Access Android Pay, Apple Pay and Samsung Pay mobile payment options with this account.

Product Name
RACQ Bank Everyday Account
Monthly Account Fee
$0
Debit Card Access
Visa
ATM Withdrawal Fee
$0
Interest Rate p.a.
0.00%
Details
No monthly account keeping fees and and no ATM fees when using over 3300 rediATMs in Australia.
Fee Free Deposit p.m.
$0
Overseas ATM Withdrawal Fee
$4.50
Overseas Eftpos Fee
$0
Phone Banking
No
Fees
$0
Internet Banking
No

What are the features of RACQ Bank's Everyday Account?

RACQ gives you a lot to think about when you start making comparisons between everyday bank account options. Consider their list of features against those offered by other banks in order to choose the day to day banking account that gives you the most flexibility at the least cost:

  • No fees. There are no monthly account keeping fees with this account.
  • Debit card. You are issued a Visa debit card that features payWave when you open your RACQ Bank Everyday Account.
  • ATM network. The Visa debit card can be used at over 3,300 rediATMs around Australia without any extra charge.
  • Visa debit card purchases. You can make an unlimited number of purchases without incurring a fee using your Visa debit card. This applies to purchases made within Australia only if you make a purchase originating outside of Australia you will pay 3% of the Australian dollar value for the purchase.
  • Accessibility. Manage your account online or with phone bank 24 hours a day, seven days a week.
  • BPAY. This account allows you to use BPAY and direct debit to take care of your payments for no charge. You can use cheques without paying extra fees.
  • Overseas withdrawals. If you use your Visa debit card to make a withdrawal at an ATM abroad you will pay $4.50 for each transaction.

Pros

  • No account keeping fees
  • Access 3,300 rediATMs for free
  • Apple Pal, Android Pay and Samsung Pay available

Cons

  • ATM fees outside of the rediATM network apply

How do you apply for the RACQ Bank Everyday Account?

Before you can apply for the RACQ Bank Everyday Account you must first become a mutual owner in the institution. This is available for residents of Queensland only, and a one time member share cost of $10 will be deducted from your new account once it has been established.

Eligibility

Before applying online, make sure that you are able to meet the other eligibility requirements for the RACQ Bank Everyday Account:

  • Minimum age.  You must be at least 18 years of age to open this account in your name. If you wish to open one for an individual under 18 years old, you will need to contact your local branch.
  • Residency requirements. In order to become a member of RACQ, you must reside in Queensland and be a permanent resident of Australia.
  • Depository requirements. There is no minimum balance requirement to open your account.

Documentation

Once you have become a member of RACQ you can continue forward with filling out your online application for the everyday account. Be prepared with the following information to make filling in the application easier:

  • Tax file number. Giving your tax file number (TFN) at the time of application is not mandatory, but it helps to make sure that no withholding tax will be applied to your account.
  • Identification. Identification documents accepted by RACQ include your Australian driver’s licence or valid passport.
  • Membership number. You will need to provide RACQ with your member number before your application will be accepted.

You will need to print the application and sign it before sending it into RACQ. Once submitted and reviewed you will be contacted by email about any next steps you need to take.

 

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2 Responses

  1. Default Gravatar
    TonyFebruary 7, 2017

    Hi what is the term deposit rates for $300000 for 12 months term

    Thanks
    Tony

    • Staff
      AnndyFebruary 7, 2017Staff

      Hi Tony,

      Thanks for reaching out.

      The term deposit rates for 12 months differ across banks. You can check and compare the rates here.

      Cheers,
      Anndy

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