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Suncorp Everyday Options Transaction Account: $0 Account Keeping Fees for Life @ Suncorp

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Suncorp Everyday Options Transaction Account: $0 Account Keeping Fees for Life @ Suncorp
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alvian on 19/06/2019 - 16:45 suncorp.com.au (3182 clicks)
Last edited 04/07/2019 - 20:38

Update: $5 monthly account keeping fee waived indefinitely.

$0 account keeping fee when you open a new Everyday Options account before 30 June 2019, normally $5 per month. Monthly account keeping fee waived for new Everyday Options accounts opened from 3 December 2018 until 30 June 2019. Fee will be waived for as long as the account is held.

Comparison of Suncorp's transaction accounts shows this Everyday Options account offsets home loan and bears interest (in sub-accounts), with current deposit interest rate of 1.15% p.a. and a 3-month bonus offer of 2.35% p.a.

Account holders should be eligible for Suncorp Benefits.

Financial Bank Account Transaction Account

Related Stores

Suncorp
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Comments

  • impoze on 19/06/2019 - 16:53
    +2

    Does this give access to Suncorp rewards?

    • nignucial on 19/06/2019 - 16:59
      +2

      yea i opened one during a cashback deal

    • Zeral on 19/06/2019 - 16:59

      Yes but they closed my account in like a week or something :(

      I was playing around with the account and it doesn't even have payid or fast payments.

      • alvian on 19/06/2019 - 17:22

        PayID available in the Suncorp App according to the article. (Not available in the Suncorp Bank App.)

        • st33p on 19/06/2019 - 17:33

          Not available yet. Source: I am current suncorp customer and tried to use PayID last week.
          Or, you can pay somebody else using PayID, but they cannot pay you using PayID.
          Someone correct me if I'm wrong please

        • Zeral on 19/06/2019 - 18:20

          Oh it just came out last month.

          I'm still not sure if I should bother reopening an options account though cause they still closed it, might just make a basic account for the perks.

        • Korban Dallas on 19/06/2019 - 19:26
          +1

          Suncorp App Sucks Balls.

      • jakesiler on 20/06/2019 - 21:53

        Why was your account closed? What were the reasons?

        Been using the Everyday Basics account for roughly 2 years.

        Been using the Everyday Options account for roughly 2 months.

        No problems.

        • Zeral on 20/06/2019 - 22:19

          Probably no money in it and they closed it in 2 months.

          They never sent out a card anything though, and I actually tried opening another account yesterday and I can't even deposit $10 into it, keeps saying error…

          I donno man I'll try again tomorrow.

          • Zeral on 22/06/2019 - 04:40

            @Zeral: Can't edit post so just an update.

            Had an SMS the next day saying that the account was active and ready.

            Osko/fast payment worked too.

      • capslock janitor on 16/12/2020 - 23:22

        Yeah hasn't been easy opening one to use, i keep hitting roadblocks, on the app, on the website,

        And I can see 2 open accounts in my Online banking,

        but my App shows none, and when I try to add the account numbers an error pops up

        Each roadblock I get lazy, ends up being "cancelled" or whatever but I still see them,

        Opened another one, said they were going to send card, i added to Gpay, card got suspended on Gpay and nothing turned up

        For a bank they sure make it hard to use their services

        • Zeral on 17/12/2020 - 04:17

          I had to turn off adguard/ad blocker for it to work when browsing gift cards etc.

          If you use a VPN of some sort it may get blocked too so try turning it off.

          Otherwise, damn sucks if it were already off :(

          I'm currently using the NAB/ING/HSBC combo for cashback, foreign fees, and missing features like Poli payment etc.

          • capslock janitor on 17/12/2020 - 10:21

            @Zeral: I mean even on the app i dont have adblock got error when trying to go into GC

            but good tip I could try off my blocker on Web browser too then..

            If I can bother contacting them again, for the most part I cbf fed up with it

            • Zeral on 17/12/2020 - 12:49
              +1

              @capslock janitor: I rarely use them so don't know how bad they really are 🤣.

              The app just redirects to browser.

              Chrome data saver mode may act as a VPN of some sort too, but yeah I think they got geo blocked set on.

              • capslock janitor on 17/12/2020 - 14:51

                @Zeral:

                Chrome data saver mode may act as a VPN of some sort too,

                good tip .. didnt know

    • Heybargain on 19/06/2019 - 21:53

      I have access to Suncorp rewards but don’t have any accounts with them
      I think you can sign up to rewards without needing an account (can’t exactly remember how I did it though)

    • Deal Or-No Deal on 19/06/2019 - 22:35

      I still can't get access to my rewards and it's been more than 2 weeks.

      • Last Seen on 20/06/2019 - 13:02
        +1

        Would suggest you send them a secure message within the internet banking system

  • 8anddrank on 19/06/2019 - 16:58
    +1

    Looks good. Must be 16+. Does anyone know a bank that will do a similar fee free for life account that a kid can open?

  • yupyup on 19/06/2019 - 17:51

    thanks. i have this account already, will look into opening new account then transferring $ across to get zero fees.

  • rilebags on 19/06/2019 - 18:11
    +1

    I have a home loan with Suncorp but no offset account. Could this act as an offset account for me without affecting my interest rate?

    • alvian on 19/06/2019 - 18:22
      +14

      This is a question best answered by Suncorp instead of OzBargain. 131155, Mon-Fri 8am-10pm, Sat–Sun 8am–6pm

      See also Offset Mode on page 7 of Product Disclosure Statement.

      • rilebags on 19/06/2019 - 19:18
        +1

        Thanks mate will do

    • UndeclaredFreak on 19/06/2019 - 21:43

      It has a tick in the homeloan offset part on the comparison chart OP linked :)

  • demiurge on 19/06/2019 - 18:19
    +3

    Suncorp used to pay you $100 to open one.

    • Diji1 on 19/06/2019 - 19:12
      +5

      This is better value after 20 months holding the account.

      • asdffdsa on 19/06/2019 - 20:22
        +5

        Clearly not a true Ozbarginer as you didn't take into account the interest you would have earnt after 20 months on the original $100. Hand in your licence!

        Jokes aside some people view these as worthless so they'd rather the $100 then close it.

      • spaceflight on 26/06/2019 - 19:23

        Not when you compare it to any of the other free accounts that exist.

    • tdw on 20/06/2019 - 04:04

      then it became $50

  • Rajserp on 19/06/2019 - 18:24

    Suncorp has had no fee account for years.

    • alvian on 19/06/2019 - 18:25
      +1

      Not on this account type it didn't.

      • Ninja9 on 19/06/2019 - 18:46

        What the diff between this vs free account?

      • Korban Dallas on 19/06/2019 - 19:29
        +2

        Does if you have a home loan. Anyone who pays monthly fees on an account needs to tell them to piss off. This crap stopped years ago.

        Just a way for the banks to make more money.

        • alvian on 19/06/2019 - 19:36
          +2

          Can you show us an interest-bearing transaction account with no account keeping fee, no monthly deposit requirement, no relationship requirement, no age limit, no concession requirement, and is offered on an ongoing basis? That would be a great deal.

          The banks do offer (mostly) fee free premium banking packages to their home loan customers, but they are paying for the services in other ways.

          • Korban Dallas on 19/06/2019 - 19:49

            @alvian: It's not all the bells and whistles for everyone. Some people will gain advantage but shop around. My annoyance lies with banks offering these paid accounts when they do not consider the customers requirements.

            There are a few that offer what you stated above but lower interest rate ~$1.5%. Like banks you never head of which I won't list.

            Those considering who are saving check these out:

            UBank USaver 2.87%
            - $200 p/m dep no account fee (this is actually an incentive for some, I personally would prefer a monthly dep)

            AMP Saver Account 2.75%
            ANZ Progress Saver 2.40%
            HSBC Serious Saver 2.85%

            • alvian on 19/06/2019 - 19:51
              +1

              @Korban Dallas: These are not transaction accounts. I can find and open a fee free savings account easily.

              • Korban Dallas on 19/06/2019 - 19:53
                +1

                @alvian: Well in a word that is correct.

                Ubank offer a linked transaction account option.

                Not much benefit to have an interest bearing transaction account. It's nice but better off keeping most of your savings out of there.

          • linkii on 20/06/2019 - 11:10

            @alvian: Plenty of free online savers, transaction accounts. ING, ubank, Macquarie, Citibank etc. Probably more.

            They all have min 1%+ interest without any deposits.

            • alvian on 20/06/2019 - 11:16

              @linkii: Care to give an example that satisfies the criteria? Let me give you a counterexample, one which you have mentioned. ING: Its transaction account is Orange Everyday which pays no interest. Its interest bearing accounts are not transaction accounts. Over to you.

              • linkii on 20/06/2019 - 11:25

                @alvian: Ubank transaction and saver account. The funds auto transfers into the transaction account when you spend. So you can leave all funds in the savings account earning interest and use your transaction to spend and make BPay payments at the same time.

                • alvian on 20/06/2019 - 11:36

                  @linkii: That's two accounts. I can find and open a fee free savings account and team it with a fee free transaction account easily. The criteria call for one interest bearing transaction account.

                  Ubank's Sweep (automatic transfer) is a great feature that I have not seen before. Thanks for the introduction.

                  • linkii on 20/06/2019 - 11:38

                    @alvian: There's also the Citibank global currency account. Gives 2% interest on Aud balances no annual fee.

                    • alvian on 20/06/2019 - 11:45

                      @linkii: "Up to 2%". A minimum deposit of $250,000 is required to earn that interest. I can argue that it pays no interest (0% for balance below $5,000).

                  • spaceflight on 26/06/2019 - 19:32

                    @alvian:

                    That's two accounts.

                    It's basically one because of the sweep feature.

                    The criteria call for one interest bearing transaction account.

                    Who do you want an interest bearing transaction account?
                    It's always going to have worse interest than a savings account.

                    The small amount of money you keep in it and the small amount of interest you would get are negligible.

                    Ubank's Sweep (automatic transfer) is a great feature that I have not seen before. Thanks for the introduction.

                    I think they are the only bank to use it.

      • gilbarc on 19/06/2019 - 19:49

        I've had one on this account type for well over a decade

  • profar on 19/06/2019 - 18:58

    Most of the E gift Cards in the rewards program do you get them immediately or not ?

    • giles on 19/06/2019 - 19:01
      +6

      In my experience, yes – within a minute.

      • profar on 19/06/2019 - 19:08

        Tks I know with RACQ Target and Eb Games the same .

        • Hardicus on 19/06/2019 - 19:20
          +3

          I always buy Coles cards while shopping and never had any issues.

        • sween64 on 20/06/2019 - 05:59

          Yep. For the ones I’ve bought like Supercheap Auto.

  • moorey on 19/06/2019 - 18:59

    How do I close the Basics account once I have this new account?

    • Rakddon on 19/06/2019 - 20:06

      I just opened an account and will close my basics account later.

      • moorey on 19/06/2019 - 21:43

        Yes but how? Via the website?

        • itsfree on 19/06/2019 - 21:49

          Probably got to call or visit a branch like most banks

  • sambear on 19/06/2019 - 19:44

    Do they have Bunnings gift cards in the reward program ? How many percent discount?

    • garffi on 19/06/2019 - 19:46

      No, I don't think I've ever seen any rewards program offer bunnings gift cards unfortunately.

      • abc on 19/06/2019 - 20:27

        Macquarie Marketplace do but its only 1% discount lol.

        • garffi on 19/06/2019 - 20:30

          LOL, no wonder I haven't heard about it.

  • INFIDEL on 19/06/2019 - 19:57

    Opened a Business Everyday Account last week - $5/mth fee waived for life if opened this month.

    Also opened the normally free Business Saver Account with 2.25% until 15/7, before dropping back to usual 1.3%.

    • Joey Jo Jo on 19/06/2019 - 20:21

      Requires ABN?

      • INFIDEL on 19/06/2019 - 20:25

        You'd have to check. I didn't as not in business - it's a trust account. Haven't even provided TFN - discussed with ATO, yet to apply.

    • bluesky on 04/07/2019 - 17:44

      I also took advantage of the Business Saver Account offer - 2.25% until 15/7. Website now shows 1.25% special available until 15 July, effective 1 July (which is to be expected after the promo).

      Common sense would say those of us who opened the account during the promo period will get 2.25% until 15/7 - but worth keeping an eye out when the interest arrives, I suppose.

      I tried to find cache copies which mentions the 2.25% until 15/7, but failed (only your comment here). There were flyers in-store when I opened the account, which stated the same, but I did not have the foresight to pick one up. Did you keep any screenshots/flyers which state this rate & expiry?

      PS I was trying to call branch & central number to confirm, but have not got through. Had left my number for a callback.

      • INFIDEL on 04/07/2019 - 17:48
        +1

        Only had word of branch manager (although I think her title was Coach!). I invested majority of $ at higher rate, so wasn't concerned.

        Watch out for fees - did a direct debit to a council & had $2 fee😱 Business accounts are a bit different to personal accounts.

        • bluesky on 04/07/2019 - 17:53

          My contact at branch has title of Store Leader. Hmm .. Coach is probably more senior :-)
          I am awaiting her call-back.

          Thanks for the tips - will be careful. I did notice that transfer out to external accounts also incur $2.
          I think the trick is to transfer to the Everyday Options Acct and then transfer out.

          • INFIDEL on 04/07/2019 - 17:55
            +1

            @bluesky: Local branch is not a branch but a Concept Store😉

            Because I am managing a trust fund, I am limited in transferring outside the trust. All transactions need to be accountable.

            • bluesky on 04/07/2019 - 18:00
              +1

              @INFIDEL: I just looked up mine - it is called a Sales Centre.
              Yours sound way more "aspirational" :-)

              • INFIDEL on 04/07/2019 - 18:02
                +1

                @bluesky: It's their latest & greatest!!
                So needs job titles to fit that aspirational status.

  • abc on 19/06/2019 - 20:43

    I'm wondering whether its worth opening this just to take advantage of the Suncorp Benefits program if you are already part of AGL Rewards? The main benefit being that you will receive the gift cards immediately rather than having to wait up to 3 days with AGL Rewards.

    I would also prefer to wait for a cashback deal for opening an account or is that asking too much?

    • Associatedisthisreallife22 @ Suncorp on 19/06/2019 - 22:32

      There's no downside so why not

  • asa79 on 19/06/2019 - 20:44
    +4

    Not sure where the deal is, as i dont any one pays account fees anymore

    • greennick on 20/06/2019 - 01:14

      Same. I have accounts with 5 banks and don't pay fees on any. If they're charging you fees, just call up and ask them not to, that's what I did with ANZ, NAB, and CBA. Never needed to for Bankwest and Westpac because of linked products.

      • T-man on 20/06/2019 - 01:44
        +1

        Wait, so you just simply call them and asking to waive the monthly fee?

        • greennick on 20/06/2019 - 01:48
          +3

          Yep. Most banks have the ability to consistently waive account keeping fees for a variety of reasons and have a low bar for doing it. Some may need you to switch to a different account type, but none have in my experience. Some you may need to threaten to leave, but most will just do it if you ask nicely but firmly.

          • T-man on 20/06/2019 - 01:57

            @greennick: And you have to call them monthly or they do that for you once and for life?

            • greennick on 22/06/2019 - 02:19

              @T-man: for life

              • donamique on 26/06/2019 - 10:21

                @greennick: CBA firmly informs me that a 50k asset under management is required for such waiver. Unless you’re a pensioner? Or unemployed?

                • greennick on 27/06/2019 - 01:50

                  @donamique: Maybe this got me over the line (from CBA website): Monthly account fee waived for accounts with at least $2,000 deposited each calendar month

                  • donamique on 27/06/2019 - 07:37

                    @greennick: Yup gotta have your salary deposited in there or do manual transfers…. How about ANZ? Do they not charge an account keeping fee also

                    • greennick on 27/06/2019 - 19:02
                      +1

                      @donamique: I don't get anything deposited in there. I just called up years ago and asked them to not charge me and I've never been since.

  • profar on 20/06/2019 - 06:40

    That’s nice so one phone call no more CC yearly fees on premium cards . Away from BS back to thread .

    The reward program power for me mainly is instant cards of EB Games 8% and can buy to the $ eg $67 .
    Coles 5% off not offered by many anymore . No. CC fees .

  • Aceboy884 on 20/06/2019 - 07:31
    +6

    who pays bank fee these days?

    • Aceboy884 on 20/06/2019 - 07:33
      +3

      If I’m missing the point on how this is better than other banks in anyway , please correct me

      It’s a saving account with no fees?

      Big whoop

      • petestrash on 20/06/2019 - 16:39

        Useful for those not living in big cities.

        Is there any other bank that allows deposits & withdrawals at the Post office for no charge, and no monthly fees while, paying some interest?

      • grasstown on 20/06/2019 - 20:12

        Why don’t you remove your neg now you’ve been corrected?

  • klaiwy on 20/06/2019 - 12:07
    +2

    I can never link up my account to Suncorp app. I opened an account last time when a similar deal was posted, it kept showing "something went wrong" when I link up the account to the app, I called the hotline as instructed, the lady had spent and hour and tried everything she could on the phone but can't work out a solution. She promised to called me back but of course she didn't…

    • Korban Dallas on 20/06/2019 - 22:14
      +1

      App riddled with bugs. Cost them millions. I know someone on the dev team. Said it was a shit fight.

    • INFIDEL on 21/06/2019 - 00:03

      Been using App for years. Never had a problem adding new accounts to App on Android.
      Had authority over a family member's accounts - was easy to control their accounts by adding to my App.
      Created 2 business accounts at branch last week - showed up straight away when added to App.

      • klaiwy on 21/06/2019 - 14:42

        I know some of you have no problems with it as people keep posting deals with this bank and many of you can get discount vouchers from their app. But I do have a problem with them and there is only one branch in Perth. Rather then driving half an hour to the city, pay for the CPP parking, wait in the branch until someone can help (who knows how much time he will spent this time) I prefer not using it

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