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Our verdict

Link up to 9 sub-accounts to your Everyday Options Account to help you manage your budget and different expenses.

This is an everyday transaction account with no monthly account keeping fees. You can use your Visa Debit Card to make free ATM withdrawals at all Suncorp, Westpac, NAB, ANZ and CBA ATMs in Australia, and you can also link it to Apple Pay, Google Pay. If you’re planning to use the card overseas, there's also no international transaction fee and no ATM withdrawal fee by Suncorp (the ATM operator fees may still apply though).

What’s most unique about this account is that you can link up to 9 mini sub-accounts which don't charge any account fees. This means you can put some of your money in different sub-accounts to help you budget, for example having different sub-accounts for different bills and expenses. You’re not penalised for moving money out of the sub-accounts either, so you can set up direct debits for recurring bills.

Pros

No account keeping fees
Link up to 9 sub-accounts
Use the sub-accounts to help you save for individual goals
Make contactless purchases with Google Pay and Apple Pay

The Everyday Options account acts as your transaction account for day-to-day spending. You can also link up to 9 sub accounts, which act as mini individual bank accounts and charge no account fees.

Details

Key Details

Product Name	Suncorp Everyday Options Account
Monthly account fee	$0
Card access	Visa
Own network ATM fee	$0
International transaction fee	0%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Apple Pay, Google Pay

Eligibility

Minimum Age	11
Joint account availability	Yes
Minimum opening deposit	N/A
Residency status	Permanent Australian residents with an Australian address

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Congratulations, Suncorp!

A great effort from Suncorp! They've been highly commended at the 2024 Finder Awards across two categories; Best Transaction Account and Best Travel Debit Card.

Full list of 2024 winners

Key features

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$0 monthly account keeping fee

This account charges no monthly account keeping fees.

Link up to 9 sub-accounts

You can have up to 9 separate sub-accounts that are linked to your main account. These separate accounts do not incur any extra account keeping fees.

You can use these accounts to save for individual savings goals and manage your budget, for example one could be used to save towards your next holiday and one could be used to save for a new car. When your salary is deposited into your main Everyday Options Account, you can opt to have some of it automatically redirected into your sub-accounts (this feature is set by you).

flexiRates on your sub-accounts

If you choose to use your sub-account for flexiRates, you will be locking your funds away for a predetermined period of time and you may earn a higher rate of interest. You can choose a term length from 1-12 months.

Account accessibility

You are given a number of options for accessing your money without being charged any transaction fees. These include; ATM, EFTPOS, BPAY, phone banking, Internet banking, mobile banking or in branch.

Account accessibility

This account comes with a free linked Visa debit Card to use for day-to-day spending in store and online wherever Visa is accepted around the world.

For younger customers aged 11-15 years an eftpos Debit card is issued. This card can only be used for face to face purchases in Australia or to withdraw cash in Australia and cannot be used for online or overseas purchases.

No ATM fees at Suncorp ATMs

You can use your Visa Debit Card to make fee ATM withdrawals at more than 3000 Suncorp and rediATMs Australia wide. Fees may apply if you use an ATM outside of the Suncorp network.

No overseas ATM fees and international transaction fees when using your Suncorp Visa Debit card.

There's no international transaction fee when using your Suncorp Visa Debit card overseas, and no overseas ATM withdrawal fee charged by Suncorp (the ATM operator may charge its own fee though).

How to apply

You can apply online for the Suncorp Everyday Options account in a matter of minutes.

Eligibility

Minimum age. Account holders must be a minimum of 11 years of age.
Residency requirements. You need to be a permanent resident of Australia for tax purposes with a legal Australian residential address.

Depository requirements. Suncorp Bank does not state a minimum initial deposit to open this account.

Documentation needed

Tax file number. If you do not provide your tax file number (TFN) or exemption code Suncorp Bank is required by law to deduct from your interest earnings a withholding tax at the highest marginal rate.
Identification. Single applicants can have their identity verified online by providing details from your driver's licence or passport. If this is not possible, or if you are applying for a joint account, you will need to complete the application at a local branch.

What happens after I submit my application?

After your application has been submitted your BSB and account number will be sent to your email along with a temporary code to allow you to access online banking. If your identity is verified your Visa debit card will also be posted to you right away, but if not, you will be given instructions on what steps you need to take.

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Alison Finder

Editor

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Shyama

January 03, 2024

Can I go to Suncorp branch physically to open the account. Will I get the card immediately.

Thanks, Binthi

Sarah Megginson Finder

January 05, 2024

Hi Shyama, No, even if you go into a branch, it usually takes 5-7 business days to process and send your card out to you. If you go into the branch you can access personalised customer service and get your account up and running swiftly. You should be able to start using the account (ie transferring money in or out) as soon as it is set up, although keep in mind, some banks enforce a 24-hour delay when transacting with a newly-opened account.

Hope this helps!

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Roberto

August 30, 2023

Is the debit card ETFPOS enabled card? (withdraw cash at supermarket for example

Raj Lal Finder

August 30, 2023

Hi Roberto,

You can withdraw cash from the debit card. It all depends on the super market and if they allow for it.

Thanks

Raj

Kathy

August 04, 2023

My Father-in-law has arrived from South Africa, he will be living in Australia with us for 12 months or 24 months if he wants to. He’d like an account with a card to use online and do money transfers to and from South Africa. Is this suitable for him? He only has a South African Driver’s Licence and Passport.

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Raj Lal Finder

September 18, 2023

Hi Kathy,

We won’t be able to provide personalised recommendations.

Based on the ID requirements found here (https://www.suncorp.com.au/content/dam/suncorp/bank/documents/personal/help-and-support/acc-opening-and-application-requirements.pdf) from the Suncorp website, he should be able to open an account with the drivers licence and passport.

We also have a dedicated page on which accounts non Australian residents can open here https://www.finder.com.au/foreigners-open-a-bank-account-in-australia .

Thanks

Raj

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Ben

July 31, 2023

I am going to the USA this year and would like to find a card with no international transaction fees.

i have a Suncorp Everyday options account and card. Do i understand correctly that i can use this card overseas with no transaction fees?

i.e it will only deduct the USD amount from my account?

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Alison Banney Finder

August 01, 2023

Hi Ben, that’s correct, this account doesn’t charge international currency conversion fees.

tara

June 07, 2023

Can a sub account have a weekly direct debt taken from it and external funds deposited into it?

Alison Banney Finder

June 08, 2023

Hi Tara, yes you can set up recurring payments from your sub account like you would a regular account.

Suncorp Everyday Options Account

Pros

Congratulations, Suncorp!

Key features

$0 monthly account keeping fee

Link up to 9 sub-accounts

flexiRates on your sub-accounts

Account accessibility

Account accessibility

No ATM fees at Suncorp ATMs

No overseas ATM fees and international transaction fees when using your Suncorp Visa Debit card.

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

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