Our verdict

G&C Mutual provides easy to use everyday access account with multiple ways to access your money

This account could be suited to you if you’re looking for an easy way to access your money for everyday purchases, particularly if you’ve got another account with G&C Mutual. You’ll get a Visa Debit Card which you can use for everyday purchases as well as online.

There aren’t too many G&C Mutual branches around, so if you like to do your banking in a branch make sure you check if there’s one near you first. Otherwise, you do get access to Internet phone and mobile banking with this account.

Pros

Able to make a purchase online or anywhere on which Visa is accepted
Internet, mobile and phone banking are options to access your account
Funds available 24/7

Cons

Lack of ATM facilities

SGE – also known as G&C Mutual Bank – has a simple everyday access account as a part of its products that makes it easy to keep track of your daily spending. This at call account can be linked to other accounts, with a sweep facility available to help you in meeting your other financial needs.

Details

Key details

Product Name	G&C Mutual Bank Access Account
Monthly account fee	$6
Card access	Visa
Own network ATM fee	$0
International ATM Fee	International ATM fee $5
International transaction fee	3%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Apple Pay, Google Pay, Samsung Pay

Eligibility

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

Key features

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Monthly account keeping fee

You need to pay $6 monthly fee which can be waived if you balance is over $5,000.

Unlimited free transactions

Using any of these transaction methods will not count towards your monthly allowance; online banking, Moneyline, Visa debit purchase using "credit", Visa debit purchase online or over the phone, direct credits, deposits or enquiries at a G&C Mutual Bank service centre or direct debit.

Allowance transactions

The following transactions will count towards your monthly allowance; ATM withdrawals and enquiries, EFTPOS purchases using the "savings" option, member cheque, direct debits and periodical payments, withdrawals at a G&C Mutual Bank service centre, BPAY, deposits made at an ANZ branch and deposits made at Bank@Post.

Accessing your account

Phone and internet banking can be used to access your account. You have access to your account at anytime.

Accessing your money

You are giving the option of linking a G&C Mutual Bank Visa debit card to the transaction account. With this card you have instant access to the money in your account through ATMs and EFTPOS. There is also the option of having a chequebook issued with the account.

Sweep facility

A sweep facility is a feature that keeps your accounts at a minimum or maximum balance that you set by automatically transferring money from one account to another when those thresholds are reached.

How to apply

Eligibility

If you are interested in applying for the Access Account, you must first become a member of G&C Mutual Bank. To do this, and to open an account, you will either need to visit a branch or call the mutual bank. You can submit an enquiry form by applying online and have a representative contact you with more details on membership, the account and applying. You should first familiarise yourself with the eligibility requirements before going ahead and beginning to apply:

Minimum age. There are no set age requirements set for by G&C Mutual Bank for becoming a member or opening the Access Account.
Residency requirements. Membership is open to residents of Australia.

Depository requirements. While no opening balance requirement is mentioned, you will be asked to buy a share of the mutual bank in order to become a member.

Documentation needed

Have the following documentation ready in order to make opening the account go smoothly:

Tax file number. It is not obligatory to provide your tax file number (TFN) or exemption code, but it will ensure that the withholding tax rate on your interest earnings is at the correct rate.
Identification. G&C Mutual Bank requires two of the following documents in order to verify your identity; a state or territory driver's licence or proof of age card, an Australian passport that is current or that has expired within the last two years, a foreign driver's licence with photo, a foreign passport, or a national ID card with your photo and signature.

What happens after I submit my application?

If applying in person, you should receive all of the account details and your Visa debit card once all of your information is processed.

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G&C Mutual Access Account

Pros

Cons

Key features

Monthly account keeping fee

Unlimited free transactions

Allowance transactions

Accessing your account

Accessing your money

Sweep facility

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other transaction accounts

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