13 12 21
Phone enquiries are available 8am to 7pm, weekdays and
9am to 3pm, Saturday.
Our offices are open 9am to 5pm, weekdays.
Our accounts can help you take control so you have money for today, tomorrow and your future.
Gain fast and easy access to your money with our Everyday accounts.
The account for all your day-to-day banking needs, with minimal fees and packed with features.
The all-in-one bank account that provides flexibility and has you covered for all your electronic transactions.
The account that allows you to separate your money for bill. So you don't miss a payment.
Conditions of use - Accounts and access Fees and charges
Earning a good return on your money is just a step away. With so many options available, there’s a saving solution to achieve your goals.
A high-interest online savings account linked to your online banking to provide unlimited access to your money.
Be rewarded with a great ongoing variable bonus interest rate when you save your money regularly.
Get a higher return on your savings and access to your Cash Management account when you need it.
A high interest Online Savings account linked to your online banking. Specifically to help new teachers get started.
Exclusive to Edvest members, our higher interest rates make your money work harder for you.
An account for members receiving a pension or allowance from Centrelink or Veteran Affairs.
Our New Teacher package is specifically designed to help you through the early years of your career.
Whether you're saving for your children's education, or Christmas - there's an account to help you get started.
With our Christmas Savings account you have the whole year to save for Christmas.
Looking for a professionally managed savings investment product, to build a nest egg to fund education expenses for your children?
Help your kids learn the fundamentals of banking and managing money with our Tiny Monsters Bank*. Tiny Monsters Bank is a resource for children and grown-ups which is filled with activities that stimulate, educate and engage children while they learn about money.
*Tiny Monsters Bank brought to you by Teachers Mutual Bank
We've created Teen banking to help teenagers develop good money habits, and bring sanity into their life. Find out how we can help them save their hard earned cash.
Mighty Saver Account is a high interest savings account for Under 18 year olds that rewards savings.
Enjoy a fixed rate of return for the nominated term, so you know exactly what your investment's worth.
Learn moreView rates
Earning a good return on your money is just a step away for both members and non-members.
Be rewarded with an extra 0.05% bonus interest. Exclusive to Rewards Package members.
Not a member? No worries, you can take advantage of great returns on our term deposits.
Term deposits between $500 and $999 can be opened by members aged 14 to 23 and New Teachers members.
Interest rate effective from 23 May 2016 and is subject to change without notice. For deposits over $500,000 rates are by negotiation and subject to acceptance. View the Conditions of use – Accounts and Access, and Fees and Charges brochure, also available from any of our offices. You should consider whether this product is appropriate for you before acquiring it.
Interest can be paid monthly, 12 monthly or at maturity on the Member, Edvest, Rewards Package and Customer Term Deposits and fortnightly on the Edvest Term Deposit. The Customer Term Deposit interest is calculated on the daily closing balance of the account and can be credited (compounded) to the term deposit account annually or on maturity. Term deposits lodged for more than 12 months must have interest paid at least every 12 month period as well as at maturity and can be compounded to the principal. Fortnightly and monthly interest payments cannot be compounded to the principal.
Term deposits interest rates are subject to change at our discretion. However, your interest rate is guaranteed for the term of your chosen deposit, except for Edvest Term Deposit, where if your Edvest membership is cancelled, your Edvest Term Deposit will be transferred to a comparable non-Edvest Term Deposit for the remaining term providing the remaining term is 3 months or more. If the remaining term is less than 3 months, your Edvest Term Deposit balance will automatically be transferred to your Everyday or Everyday direct account. Terms and conditions are available on request.
You cannot make a partial withdrawal if the remaining balance will be less than the minimum opening balance required for the account. You must then withdraw the whole balance (minus any interest corrections) and close the account.
The reduced rate is currently 2% lower than the rate specified on your Term Deposit Certificate.
1 Minimum deposit $500 for 0-23 year olds and New Teachers.
2 For deposits over $500,000, rates are by negotiation and subject to acceptance.
3 If you cancel or do not renew your Rewards Package by paying the annual fee each year you will no longer be eligible for the rewards benefits. As a result the term deposit will be transferred to a comparable term deposit for the remaining term, providing the remaining term is 3 months or more or if the remaining term is less than 3 months, your term deposit balance will automatically be transferred to your account. Reduced interest is paid on term deposits if you withdraw your funds before the end of the proposed term.
Fetes, raffles, sausage sizzles… We can give you a better way to raise the level of your hard earned funds with a Teachers Mutual Bank term deposit.
Simply request our special P&C association pack which contains everything you need to know about our term deposits and how you can open one.
If you need approval from your P&C committee, we may be able to arrange for one of our Business Relationship Managers to be present at your next meeting.
Useful information for making the most of your Teachers Mutual Bank accounts.
Telegraphic transfers are a secure and convenient way to send or receive electronic funds directly into an overseas account. The funds are deposited into the nominated bank account generally within 3 working days.
You can choose for the funds to be either in Australian dollars or the currency of the destination country (note some restrictions may apply*). The countries we can telegraphic transfer funds to can change, call 13 12 21 9am to 5pm, weekdays to ensure your destination is available.
Send money overseas
* Please see Terms and conditions. Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.
If you are:
As 1CUSCAL will not accept funds transferred from overseas directly to themselves, your funds will need to be processed through an intermediary bank. You must advise the sending financial institution that it is necessary to forward the payment via an intermediary bank. It is the prerogative of the overseas sending financial institution to nominate an intermediary bank. Neither Teachers Mutual Bank nor CUSCAL may determine this. If the overseas financial institution does not nominate an intermediary, however, you may be able to nominate either an intermediary bank of your own choosing, or CUSCAL’s preferred intermediary bank, NAB.
The intermediary bank will charge a processing fee, which may be deducted from your payment. Depending on the circumstances, such as the location of the sending financial institution and its commercial arrangements, processing via more than one intermediary bank may be necessary.
Once the funds arrive at the intermediary bank, the funds are then converted to Australian dollars (if need be) and forwarded to CUSCAL. This is the reason that CUSCAL and their swift code CUSCAU2SXXX is to be placed on the paperwork. It is so that the intermediary bank can forward the funds to CUSCAL. Please note again, the sending bank is not to send the funds directly to CUSCAL. Once CUSCAL receive the funds, they will forward the monies to Teachers Mutual Bank. CUSCAL will recognise the BSB 812-170 as belonging to Teachers Mutual Bank and once the funds arrive at Teachers Mutual Bank, they are promptly deposited to your account. Please be aware that CUSCAL take a $6.21 fee, from the amount you send, for processing this payment. The Sending Bank and the Intermediary Institution are able to deduct a processing fee for international transfers.
The Transfer normally takes 1-4 business days depending on the individual financial institution.
If any part of the instruction is missing or incorrect, the payment may be automatically rejected or returned to the sending bank.
It is sender’s responsibility to trace the funds from the sending bank. Due to the privacy regulation, Teachers Mutual Bank are unable to perform this duty.
An intermediary bank relationship is established between financial institutions who agree to provide deposit and/or initiate payments on behalf of another bank that may not have a local banking presence. It is also known as a correspondent bank.
A single payment may involve multiple banks to deliver the funds to the beneficiary, especially when they are outside Australia. Each bank in the payment chain will assess fees for processing the funds transfer. These fees must be allocated either to the beneficiary or the sender/remitter.
If the funds have not been returned to the sending bank, the sender can request a search, by the sending bank, on these funds via the Swift system.
A bank draft is a cheque issued in a foreign currency, it can only be deposited into the account of the person the draft is made payable to, making it safe and secure. Cheque clearance times may apply when depositing cheque(s) to overseas banks.
A bank draft is available in a wide range of currencies - including Australian dollars. We recommend a draft in the destination country’s currency to avoid additional exchange rate fees or delays at the other end. Call 13 12 21 9am to 5pm, weekdays to check if your destination country’s currency is available.
You can either collect from our offices, American Express Foreign Exchange Services office (usually available within 5 working days) or have it sent by courier to your school or business address within Australia. Contact us first to confirm it has arrived.
Order a bank draft
1 Cuscal is Australia's leading provider of transactional banking, liquidity and capital management products and superannuation solutions to more than 150 specialist financial services institutions across Australia. They provide clients access to Australian capital markets, payment systems, card schemes, inter-institutional settlement arrangements, and is one of the nation's largest ATM networks.
Telegraphic Transfers (TT’s) are arranged through American Express International Inc. (ABN 15 000 618 208 AFSL No.237996). Incorporated with limited liability in Delaware USA. ®Registered Trademark of American Express Company. A Product Disclosure Document can be requested at tmbank.com.au or by calling 13 12 21 8am to 7pm, weekdays or 9am to 3pm, Saturdays or from any of our offices. The information contained in this document has been prepared without taking into account your objectives, financial situation or needs. You should read the PDS and consider the appropriateness of Telegraphic Transfers in relation to your individual requirements. Please note currency conversion rates change according to market conditions. A fee of $25 applies to foreign currency TT’s and $40 for AUD TT’s.
Bankdrafts are arranged through American Express International Inc. (ABN 15 000 618 208 AFSL No.237996). Incorporated with limited liability in Delaware USA. ®Registered Trademark of American Express Company. A Financial Services Guide or a Draft Information Booklet can be requested at tmbank.com.au or by calling 13 12 21 8am to 7pm, weekdays or 9am to 3pm, Saturdays or from any of our offices. The information contained in this document has been prepared without taking into account your objectives, financial situation or needs. You should read the booklet and consider the appropriateness of bank drafts in relation to your individual requirements. A fee of $10 applies to foreign currency bank drafts and $15 for AUD bank drafts.