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FAQS
Frequently asked questions
Who is Great Southern Bank?
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders.
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Contact us to get started, we’re here to help!
What bank accounts are available at Great Southern Bank?
We’re all different,so we have a range of everyday accounts to help you manage your money in smart ways.
Follow the links below to view ourotherbank accountsand find the one that suits you best.
- Everyday Accounts
- Savings Accounts
- Youth Accounts
- Term Deposits
How do I switch to Great Southern Bank?
Switching to Great Southern Bank is easy. It only takes five minutes to open an account.
Once your account is open, we can help you switch your salary, direct debits, and regular payments to your brand-new Everyday Account.
Is my money safe in a savings account?
Yes. Money placed in a savings account with a bank, building society or credit union is protected by the Australian Government’s Financial Claims Scheme (FCS).
The scheme protects deposits up to $250,000 per person, per financial institution. In the unlikely event that a financial institution closes you’ll have the peace-of-mind that your money is safe.
Learn more about the FCS.
How do I qualify for bonus interest?
You can earn bonus interest on your savings when you have either a Goal Saver, Home Saver, Advantage Saver account.
Goal Saver Account:
- Deposit a total of $500 (or more) via electronic transfer from a non-Great Southern Bank account into your Everyday Edge accounts; and
- Make five or more Visa debit card purchases from your Everyday Edge accounts each month.
Deposits of $500 or more could easily be achieved by having your pay transferred to your Everyday Edge account or by making a single payment of $500 or more each month from a non-Great Southern Bank account.
Your purchases can be made from multiple Everyday Edge accounts to qualify, as long as they total 5 or more per month.
Please note that bonus interest is awarded on balances up to $50,000 (the proportion of your account balance over $50,000 will earn the base rate of interest).
Open nowFind out more
Home Saver Account:
- Deposit a total of $2,000 (or more) via electronic transfer from a non-Great Southern Bank account into your Everyday Edge Accounts; and
- Make five or more Visa debit card purchases from your Everyday Edge accounts each month.
Deposits of $2,000 or more could easily be achieved by having your pay transferred to your Everyday Edge account or by making a single payment of $2,000 or more each month from a non-Great Southern Bank account.
Your purchases can be made from multiple Everyday Edge accounts to qualify, just as long as they total 5 or more per month.
Please note that bonus interest is awarded on balances up to $100,000 (the proportion of your account balance over $100,000 will earn the base rate of interest).
Open nowFind out more
Advantage Saver Account:
- Increase the balance of your Advantage Saver account by $250 before the end of each month (excluding interest payments, withholding tax and fees) to earn bonus interest.
Please note that bonus interest is awarded on balances up to $750,000 (the portion of your account balance over $750,000 will earn the base rate of interest for that balance tier).
Open now
Find out more
If I withdraw funds from my savings account, will I keep my interest?
Definitely! Customers can withdraw funds from their account at any time without losing their interest. This is true for the:
- Goal Saver account
- Home Saver account
- eSaver Flexi account
- Youth eSaver account
- Advantage Saver account
Can I open a savings account in joint names?
Yes, we have 4 accounts that can be opened in joint names. These are our Goal Saver, Home Saver, Advantage Saver and eSaver Flexi accounts.
Keep in mind that each customer can only have one of each of the following account types: Goal Saver, Home Saver and Advantage Saver.
Please note, if you’re keen to earn bonus interest on your Goal Saver or Home Saver Accounts, any Everyday Edge Account in your name can be used to earn bonus interest. This means the deposits and transactions on an Everyday Edge Account in just your name or joint names can count towards the bonus interest criteria.
Can I do my banking on my mobile phone?
Absolutely. Simply download our mobile banking app to do your banking anywhere from the convenience of your phone.
Can I do my banking online?
Yes. Great Southern Bank Online Banking is easy to use, convenient and secure. As a new customer you'll be set up with online banking as soon as you apply.
If you are already a customer, you can register for online banking in less than a minute and get started straight away.
Are there any fees for using The Vault or The Boost features?
Not at all! It’s free to use bothThe Vault and The Boost.We also don’t charge a monthly account fee on our everyday banking and savings accounts. Your money stays in your account, where it belongs.
Does Great Southern Bank offer Term Deposits?
We certainly do! We offer a range of different Term Deposits to help you achieve your savings goals, all with $0 monthly account or application fees.
How secure is mobile banking and online banking?
We take security very seriously and have several features to keep your online and mobile banking safe and secure.
For starters, you’ll always need your customer number and password to log in to digital banking. You can also take advantage of our special features for extra security and peace of mind.
Our key security features include:
- Fingerprint login
- Facial login
- Transaction notifications
- Security questions
- Change your password anytime
Home Saver Account:
- Deposit a total of $2,000 (or more) via electronic transfer from a non-Great Southern Bank account into your Everyday Edge Accounts; and
- Make five or more Visa debit card purchases from your Everyday Edge accounts each month.
Deposits of $2,000 or more could easily be achieved by having your pay transferred to your Everyday Edge account or by making a single payment of $2,000 or more each month from a non-Great Southern Bank account.
Your purchases can be made from multiple Everyday Edge accounts to qualify, just as long as they total 5 or more per month.
Please note that bonus interest is awarded on balances up to $100,000 (the proportion of your account balance over $100,000 will earn the base rate of interest).
Open nowFind out more
Advantage Saver Account:
- Increase the balance of your Advantage Saver account by $250 before the end of each month (excluding interest payments, withholding tax and fees) to earn bonus interest.
Please note that bonus interest is awarded on balances up to $750,000 (the portion of your account balance over $750,000 will earn the base rate of interest for that balance tier).
Open now
Find out more
"}},{"@type": "Question","name": "If I withdraw funds from my savings account, will I keep my interest?","acceptedAnswer":{"@type": "Answer","text": "
Definitely! Customers can withdraw funds from their account at any time without losing their interest. This is true for the:
- Goal Saver account
- Home Saver account
- eSaver Flexi account
- Youth eSaver account
- Advantage Saver account
"}},{"@type": "Question","name": "Can I open a savings account in joint names?","acceptedAnswer":{"@type": "Answer","text": "
Yes, we have 4 accounts that can be opened in joint names. These are our Goal Saver, Home Saver, Advantage Saver and eSaver Flexi accounts.
Keep in mind that each customer can only have one of each of the following account types: Goal Saver, Home Saver and Advantage Saver.
Please note, if you’re keen to earn bonus interest on your Goal Saver or Home Saver Accounts, any Everyday Edge Account in your name can be used to earn bonus interest. This means the deposits and transactions on an Everyday Edge Account in just your name or joint names can count towards the bonus interest criteria.
"}},{"@type": "Question","name": "Can I do my banking on my mobile phone?","acceptedAnswer":{"@type": "Answer","text": "
Absolutely. Simply download our mobile banking app to do your banking anywhere from the convenience of your phone.
"}},{"@type": "Question","name": "Can I do my banking online?","acceptedAnswer":{"@type": "Answer","text": "
Yes. Great Southern Bank Online Banking is easy to use, convenient and secure. As a new customer you'll be set up with online banking as soon as you apply.
If you are already a customer, you can register for online banking in less than a minute and get started straight away.
"}},{"@type": "Question","name": "Are there any fees for using The Vault or The Boost features?","acceptedAnswer":{"@type": "Answer","text": "
Not at all! It’s free to use bothThe Vault and The Boost.We also don’t charge a monthly account fee on our everyday banking and savings accounts. Your money stays in your account, where it belongs.
"}},{"@type": "Question","name": "Does Great Southern Bank offer Term Deposits?","acceptedAnswer":{"@type": "Answer","text": "
We certainly do! We offer a range of different Term Deposits to help you achieve your savings goals, all with $0 monthly account or application fees.
"}},{"@type": "Question","name": "How secure is mobile banking and online banking?","acceptedAnswer":{"@type": "Answer","text": "
We take security very seriously and have several features to keep your online and mobile banking safe and secure.
For starters, you’ll always need your customer number and password to log in to digital banking. You can also take advantage of our special features for extra security and peace of mind.
Our key security features include:
- Fingerprint login
- Facial login
- Transaction notifications
- Security questions
- Change your password anytime
While we take proactive steps to fight fraud, it’s important that our customers also take an active role in keeping their accounts secure.
Our online security checklist contains more tips and tricks to keep your account secure. And as always, never share your password with anyone.
"}}]}
