The Everyday Basics Account from Suncorp Bank is designed to keep your spending in check. Use it to make withdrawals, pay your bills and make your daily purchases. There is no account-keeping fee to worry about, yet you have multiple ways of accessing your money.
What are the features of the Suncorp Everyday Basics Account?
The Everyday Basics Account offers a multitude of features that make it easy to manage your money. Compare these with other transaction accounts to determine which one benefits you the most:
- Monthly account-keeping fee. Suncorp Bank does not charge you an account keeping fee for the Everyday Basics Account.
- Methods of accessing your account. You can access your money through an ATM, EFTPOS, BPAY, internet banking, phone banking, mobile banking or at a Suncorp Bank branch.
- Debit card options. You can choose to have a Visa debit card linked to your account, giving you the power to shop and make withdrawals around the world wherever Visa is accepted. If you are under 16, you’ll receive a Suncorp Bank transaction card instead of the Visa debit card.
- ATM access. Suncorp Bank is partnered with Bendigo Bank, giving you fee-free transactions at any of its 1,700 ATMs around Australia. If you use an ATM outside of this network, the ATM provider may charge you for the transaction. This fee is charged to your account immediately after you make the transaction. You will also be charged $5 by Suncorp Bank if you use an ATM outside of its network.
- Visa payWave. PayWave is a feature of the Visa debit card that allows you to make point-of-sale purchases of under $100 by simply waving the card in front of the reader. This feature is free of any extra fees and is available anywhere Visa is accepted.
- Overseas transactions. Using ATMs overseas will incur a $5 charge per transaction from Suncorp Bank, plus any fees charged by the ATM provider.
- Mobile app. You can bank online by downloading the Suncorp Bank app from the iTunes App Store or Google Play. The app gives you access to your recent transactions and balance, as well as allowing you to make transfers and pay bills.
- There is $0 account keeping fee.
- Access your money on different options such as internet, phone and mobile banking.
- There is no interest paid for this account.
How do I apply for the Suncorp Everyday Basics Account?
If you’re already a Suncorp Bank customer, you can apply for this account through online banking. If not, you can still apply online by visiting their website. Suncorp Bank has some eligibility requirements that you should be aware of before proceeding with the application:
- Minimum age. You must be at least 18 years of age to apply for the Everyday Basics Account online.
- Residency requirements. You must be an Australian permanent resident for tax purposes and have an Australian residential address.
- Depository requirements. You are not required to make a minimum deposit when opening this account.
If you are eligible for this account, make sure you have a valid email address so that you can be updated on the progress of your application. You’ll also need to provide other documentation:
- Tax file number (TFN). You don’t to provide your TFN or your tax exemption details, but doing so will enable the bank to accurately withhold your tax on interest earnings if you also plan on opening a savings account. Without this, they are obligated by law to withhold tax at the highest marginal rate.
- Identification. Single applicants may be able to use their passport or driver’s licence for identity verification. If you’re applying for a joint account, you’ll be asked to visit your local branch to complete this portion of the application.
A BSB and account number will be emailed to you immediately after applying for the account, along with a temporary access code for online banking. Once your identity has been verified, that account will become active and your Visa debit card will be mailed to your address.