Looking for a bank account with great features? Well, with the Gateway Credit Union Edge Account, you’ll benefit from a bundle of competitive features including free access to an extensive ATM network and no account keeping fee. Plus you’ll also receive a 0.10% p.a. in interest when your account balance is $1,000 or more, and as an added bonus, the Edge Account also comes with an optional personal overdraft facility with a limit of up to $20,000.
With no minimum balance or opening deposit requirements, the Gateway Credit Union Edge Account will reward you for your savvy saving habits with an interest rate of 0.10% p.a. when your account balance is $1,000 or more, which is pretty good for a bank account. There’s also no monthly account keeping fee.
Not only will you receive free access to one of Australia’s largest ATM networks including Westpac, St.George, Bank of Melbourne, and BankSA (with a standard $1,000 daily ATM withdrawal limit) there are no EFTPOS, phone, internet, Bank@Post or BPay fees for deposits or withdrawals. However, there’s a $5 fee for over the counter withdrawals made at the only Gateway branch located in Sydney CBD.
The Gateway Credit Union Edge Account also comes with a linked Visa debit card that can be used anywhere Visa is accepted globally, and as an added bonus the $5 card fee is wiped. You’ll also be covered by Visa’s Zero Liability policy which protects you from unauthorised transactions (conditions apply), including any Visa payWave “tap and go” purchases under $100.
You can also keep track of your transactions 24/7 with the convenience of online banking and the Gateway 2go smartphone app that lets you bank on the go with your smartphone.
If you find yourself strapped for cash and don’t want a credit card, the Gateway Credit Union Edge Account has an optional overdraft facility for withdrawals of up to $20,000 with a interest rate of 11.74% p.a (conditions apply). Although, this interest rate is lower than credit card interest rates, beware that the overdraft doesn’t have an interest free period.
Also, keep in mind if you’re planning on jet setting overseas, the Gateway Credit Union Edge Account’s linked debit card comes with a $3.50 overseas ATM withdrawal fee and an added 2% foreign exchange fee.
The Gateway Credit Union Edge Account is designed for Aussies looking for a fee-free bank account with a competitive interest rate and extensive ATM network or those after the flexibility of an optional personal overdraft facility. It’s also good for Sydney-siders as the only Gateway branch in Australia is conveniently located in the Sydney CBD.
Make sure you have an account balance of at least $1,000 to snag the 0.10% p.a. interest rate - Balances below that will only earn 0.01% p.a.
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Balances from $0: 0.01% p.a. |
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Balances from $0: 1.60% p.a. |
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Deposit at least $2,000 from an external source |
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$0.00 |
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n/a |
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Unlimited transactions using Visa Debit, EFTPOS, phone, internet, Bank@Post and BPay |
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$0.00 |
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Gateway Bank |
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$0.00 |
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$0.00 |
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$7.50 |
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$0.00 |
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$0.00 |
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$0.00 |
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n/a |
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$4.00 |
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2.80% |
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$5.00 monthly |
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$0.00 |
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$0.00 |
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$1,000.00 |
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no |
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no |
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yes |
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yes |
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no |
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yes |
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yes |
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none |
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none |
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none |
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none |
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none |
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$4.00 |
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$0.00 |
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2.80% |
PayID
In the day and age where instant payments across different banks is a basic feature and well… just about every other feature, is missing, you’d do well to look elsewhere because these guys are living in a cave with a rock on their heads trying to work out how to light a fire with a twig. Outdated and painful to even get the account set up in the first place.
Read full reviewIn the day and age where instant payments across different banks is a basic feature and well… just about every other feature, is missing, you’d do well to look elsewhere because these guys are living in a cave with a rock on their heads trying to work out how to light a fire with a twig. Outdated and painful to even get the account set up in the first place.
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
