There is no monthly access fee when you deposit $2,000 each month into Teachers Mutual Bank. Deposits need to be made into accounts under the same member number (excluding internal transfers, Teachers Credit Cards and term deposits).
This account is suited to members who do not require staff assistance, as a staff assist fee applies for balance enquiries, transaction enquiries and transactions done by our staff at our offices, member events and over the phone.
It comes packed with features, including:
- unlimited electronic transactions
- 24/7 access via internet and phone banking
- rediATM and NAB ATMs
- EFTPOS
- free Visa debit card with payWave functionality or rediCARD
- direct debit facility
- direct credit facility
- free over the counter deposit transactions at NAB branches and Bank@PostTM
- direct depositing of your pay or other income
- a sweep facility to automatically transfer funds from another account if needed to cover a shortfall
- overdraft facility for extra funds
- cheque book
- electronic deposits.
Interest rates
| Up to $9,999 |
0.01%pa |
| $10,000 - $49,999 |
0.05%pa |
| $50,000 and over |
0.10%pa |
Tiered interest calculated daily and credited monthly.
Fees and charges
Monthly access fee |
$5 |
| There is no monthly access fee when you deposit $2,000 each month into Teachers Mutual Bank. Deposits need to be made into accounts under the same member number (excluding internal transfers, Teachers Credit Cards and term deposits). |
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Unlimited transactions: |
| - rediATM and NAB ATM withdrawals |
Free |
| - Visa debit card EFTPOS |
Free |
| - rediCARD EFTPOS |
Free |
| - internet and phone banking |
Free |
| - cash withdrawals at selected Teachers Mutual Bank offices |
Staff assist fee |
| - Visa debit card purchases |
Free |
| - direct debit |
Free |
| - direct credit |
Free |
| - BPAY |
Free |
| - periodical payments via internet banking |
Free |
| - periodical payments - staff assisted |
Staff assist fee |
| - electronic funds transfer via internet banking |
Free |
| - electronic funds transfer - staff assisted |
Staff assist fee |
| - electronic deposit |
Free |
| - member cheque withdrawals |
Staff assist fee |
| - Bank@Post deposits |
Free |
| - NAB deposits |
Free |
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Learn how to
minimise fees and charges and avoid the access fee.
Visa debit card
This card uses your funds in your Everyday Direct account but has the extra facility of using the card wherever the Visa logo is displayed. You can use EFTPOS, make purchases online, over the phone and withdraw money at ATMs.
rediCARD
This card gives you access to funds in your Everyday Direct account. You can access up to $1,050 cash per day at ATMs and up to $1,000 per day at Bank@Post outlets and where EFTPOS is available. It can also be used up to $1,000 per day to pay bills with BPAY.
Internet banking
Use internet banking to access your account 24/7. You can check your balances, transfer money, pay bills and much more.
Phone banking
Call 13 21 40 anytime to check all of your balances and transactions, transfer money in and out of your Everyday Direct account, use BPAY to pay bills and much more.
Cheque book
A cheque book can be linked to access funds in your Everyday Direct account.
Direct debits
Set up a direct debit facility from your Everyday Direct account to make payments automatically. Your direct debits can be set up through the organisation you wish to authorise to debit your account.
Here are some other ways we can help you:
Overdraft
If you need to access extra money from time to time, our RediCredit overdraft facility allows you to access extra approved funds through your Everyday Direct account.
Switch to Teachers Mutual Bank
Take advantage of Teachers Mutual Bank benefits and switch all of your finances.
Bill Paying account
Make managing your bills easier by allocating your pay into a Bill Paying account to ensure you have enough funds to pay your bills.
Direct your pay and income
Make it easy to get to your money and make sure there is enough for all of your expenses by splitting your pay into other accounts.