NOTE: On 1 June 2021, Credit Union Australia (CUA) changed its name to Great Southern Bank. If you're an existing CUA customer you should have been notified directly about these changes.
Great Southern Bank savings accounts, bank accounts and term deposits
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How we picked these
How the Finder Score helps you find a better savings account
The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
We currently don't have that product, but here are others to consider:
How we picked these
How the Finder Score helps you find a better savings account
The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
Great southern Bank was previously known as Credit Union Australia (CUA), before rebranding in June 2021.
Great Southern Bank has been around since the 1940s and is the largest customer-owned financial institution in Australia.
Its head office is based in Queensland, but it operates across all of Australia and all residents can join with no restrictions.
It has more than 500,000 customers around the country.
Although it's a customer-owned bank, it's still an approved ADI and your deposit up to $250,000 is protected by the government guarantee scheme.
What accounts does Great Southern Bank offer?
Great Southern Bank Everyday Account
The everyday account comes with a Visa debit card to make purchases in stores or online, and has no monthly account keeping fee. This account does charge international transaction fees, so it's best for use within Australia to avoid these fees. There's no monthly deposit condition to meet.
Young Australians aged 10 to 17 can manage their own pocket money with this fee-free transaction account. Depending on your age you will either be issued a Visa debit card or rediCARD to use to make your daily purchases and cash withdrawals.
The Great Southern Bank Everyday Edge Account is a handy everyday account with some added travel benefits. The Great Southern Bank Everyday Edge Account will refund international ATM withdrawal fees and international card transaction fees when you deposit $2,000 or more each month and make at least 5 purchases with your Great Southern Bank Visa Debit card each month.
This transaction account is designed to help you manage your retirement and pension funds. You'll have both online access to your money or teller assisted transactions at a local branch.
This is a savings account for customers aged 10 to 17 years old. It's an online savings account with an ongoing interest rate no matter how many withdrawals or deposits you make in a month.
This is an online savings account with an ongoing, variable rate and no deposit or withdrawal conditions. Because you can't make withdrawals whenever you need to, it's a flexible account that might suit you if you don't want to commit to monthly deposit amounts.
With a minimum deposit of $5,000, you can lock your savings into a Great Southern Bank Term Deposit for 1 month or up to 5 years. You'll earn a fixed interest rate the whole time, in exchange for not making any withdrawals.
Great Southern Bank has limited branches, but it offers a range of other ways to do your banking.
Bank branches
Great Southern Bank only has around 40 bank branches in Australia, located mainly along the east coast of Queensland and New South Wales. You can go into a branch to get help with your day-to-day banking or to deposit cash and cheques.
ATM network
Great Southern Bank has around 3,000 ATMs around Australia. It used to be part of the rediATM network, however it stopped that partnership in 2018. Customers with a Great Southern Bank debit card can also use all CBA, NAB, Westpac and ANZ ATMs for free. You can also withdraw cash for free at Woolworths and Coles when doing your grocery shop.
Bank@Post
If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.
Great Southern Bank Internet and mobile banking
Great Southern Bank offers an online banking platform that you can use 24/7 to manage your banking, as well as a mobile banking app. You can do all the usual things such as check your accounts, transfer money, pay bills, make BPAY payments and download statements.
You can access some digital tools and features to help you manage your money. The Boost feature allows you to round up your transactions and send the loose change to your savings account, so you're saving automatically. The Vault feature allows you to hide your savings from your online banking platform or mobile app, so you're removing the temptation to dip into it.
Contactless payment options
Great Southern Bank offers Apple Pay, Google Pay and Samsung Pay to customers. You can also set up your PayID in the Great Southern Bank mobile app to use instead of your BSB and Account Number, and to set instant transfers to other bank accounts.
Pros and cons of banking with Great Southern Bank
Pros
Customer-owned. Great Southern Bank is a customer-owned bank, which means it exists to benefit customers and members rather than shareholders.
Range of accounts. It offers a variety of different savings and bank account options to suit different types of customers.
Bonus savings rate. You can earn bonus interest on your savings when you meet the monthly deposit conditions.
No-fee account options. The Everyday Edge Account will refund a bunch of fees to you when you meet the deposit conditions.
Cons
Not that many branches. There aren't many Great Southern Bank branches, especially in smaller regional areas.
Savings rate is lower than others. The maximum bonus rate available on your savings is less than what's offered by some others in the market.
How to apply for a Great Southern Bank account online
You can apply for a new account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
Eligibility
You're over 18 years old
You're an Australian resident for tax purposes
You have an Australian phone number and residential address
Documentation
Personal details like your name, date of birth, residential address, phone number and email address
ID documents such as your driver's licence, Medicare card, passport or proof-of-age card
Are you looking for another Great Southern Bank product instead?
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.
Your reviews
4.3
★★★★★(0)
5
4
3
2
1
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
10 of 70 reviews
★★★★★Woolworths (NSW) 1 year ago
Via customer survey commissioned by Finder
★★★★★Midlake158 (QLD) 1 year ago
Via customer survey commissioned by Finder
A wonderfully easy to use service that provides an accessible web interface.
★★★★★django (QLD) 1 year ago
Via customer survey commissioned by Finder
Usable but could be improved by adding more features for travel.
★★★★★Wal (QLD) 1 year ago
Via customer survey commissioned by Finder
Solid bank with great service and products.
★★★★★Tary (QLD) 1 year ago
Via customer survey commissioned by Finder
Super easy to use!
★★★★★ (VIC) 1 year ago
Via customer survey commissioned by Finder
★★★★★HonestSurvey (NSW) 1 year ago
Via customer survey commissioned by Finder
Banking app is easy to use and you can do all the things you need to on it.
Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio
Alison's expertise
Alison has written 642 Finder guides across topics including:
Please note that you have reached Finder and not Great Southern Bank.
You may find this map on Google to find ATMs of Great Southern Bank.
If in case you’re still having trouble, please call them at 133 282.
I hope this helps,
Regards,
Alison
PrueJuly 10, 2019
What is your highest interest rate for savings
NikkiJuly 10, 2019
Hey Prue,
Thanks for your inquiry.
As of this writing, the savings account that owns the highest interest rate is the CUA Youth eSaver Account. As stated in our review, this account is meant for Australians between the ages of 10 and 17 who must be listed as the only account holder. No joint account holders are permitted although a parent or guardian may be given the authority to monitor the account.
If you’d like to open an account, press the ‘Go to site’ button above to be redirected to CUA’s website. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. Feel free to reach out to the bank if you need any clarifications.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Cheers,
Nikki
KenMay 19, 2016
I have an esaver account Can you please let me know what interest rate I am getting?
Thanks
TonyMay 25, 2017
Hi. I have a term deposit account with CUA, that matures soon.
This account is for the persons over 55 years of age and last year an extra 0.1 percent was added above the advertised rate will this be added to the current rate?
Finder
HaroldMay 26, 2017Finder
Hi Tony,
Thank you for your inquiry.
The rate will remain the same until your term deposit account matures. It is a fixed rate for the duration of the term. When the account reaches maturity, if you opted to roll over the funds into a new CUA term deposit, the new term deposit account will receive the new rate.
I hope this information has helped.
Cheers,
Harold
EuniceMay 12, 2017
What interest rates do you pay on my Premium Plus account?
I cant find any reference to a PP account on your website.
What would be the best account for me to have access to?
LiezlMay 13, 2017
Hi Eunice,
Thank you for your question. Just to confirm though, you have come through finder.com.au, not actually CUA.
CUA doesn’t have premium plus account, with them it’s eSaver Boost account which pays an interest rate of 2.85% p.a., provided you meet certain monthly conditions.
As for the best account to maintain, that would entirely depend on your saving habits, financial needs and how accessible you want your savings to be.
I hope this helps.
Cheers,
Liezl
Finder
ShirleyMay 20, 2016Finder
Hi Ken,
Thanks for your question. Please note there are multiple esaver accounts.
Could you please confirm the entire name of your savings account with CUA?
A highly competitive interest rate makes the Youth eSaver Account one that can help you be financially ready for adulthood.
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Where are your ATMs in the Parramatta area?
Hi Patricia,
Please note that you have reached Finder and not Great Southern Bank.
You may find this map on Google to find ATMs of Great Southern Bank.
If in case you’re still having trouble, please call them at 133 282.
I hope this helps,
Regards,
Alison
What is your highest interest rate for savings
Hey Prue,
Thanks for your inquiry.
As of this writing, the savings account that owns the highest interest rate is the CUA Youth eSaver Account. As stated in our review, this account is meant for Australians between the ages of 10 and 17 who must be listed as the only account holder. No joint account holders are permitted although a parent or guardian may be given the authority to monitor the account.
If you’d like to open an account, press the ‘Go to site’ button above to be redirected to CUA’s website. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. Feel free to reach out to the bank if you need any clarifications.
Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Cheers,
Nikki
I have an esaver account Can you please let me know what interest rate I am getting?
Thanks
Hi. I have a term deposit account with CUA, that matures soon.
This account is for the persons over 55 years of age and last year an extra 0.1 percent was added above the advertised rate will this be added to the current rate?
Hi Tony,
Thank you for your inquiry.
The rate will remain the same until your term deposit account matures. It is a fixed rate for the duration of the term. When the account reaches maturity, if you opted to roll over the funds into a new CUA term deposit, the new term deposit account will receive the new rate.
I hope this information has helped.
Cheers,
Harold
What interest rates do you pay on my Premium Plus account?
I cant find any reference to a PP account on your website.
What would be the best account for me to have access to?
Hi Eunice,
Thank you for your question. Just to confirm though, you have come through finder.com.au, not actually CUA.
CUA doesn’t have premium plus account, with them it’s eSaver Boost account which pays an interest rate of 2.85% p.a., provided you meet certain monthly conditions.
As for the best account to maintain, that would entirely depend on your saving habits, financial needs and how accessible you want your savings to be.
I hope this helps.
Cheers,
Liezl
Hi Ken,
Thanks for your question. Please note there are multiple esaver accounts.
Could you please confirm the entire name of your savings account with CUA?
What is the nearest office to post cod 3220
Hi Allan,
Thanks for your question.
The closest CUA branch to your postcode is:
Werribee
Cnr Derrimut & Heaths Rd
Shop 124 Werribee Plaza Werribee VIC, 3030
Do you have an office in Perth WA
Hi Keith,
Thanks for your question.
There is a CUA located at 321 Murray St, Perth WA 6000.
Cheers,
Shirley