BankSA Investment Cash Account

0.25% p.a.(for $0 and over)

No Current Offer

 

BankSA Investment Cash Account Review

Review published: 16 October 2018

What's hot:

  • Link to your investment portfolio and SMSF

  • Unlimited free phone and internet transactions

  • No monthly service fee

What's not:

  • 0.25% interest rate

Mozo snapshot:

The BankSA Investment Cash Account lets you connect your investment portfolio and self-managed super fund with a BankSA account, allowing for an easy financial setup. There is also no ongoing fees, or phone and internet transaction fees to worry about. With that said, the account only has a starting interest rate of 0.25%.

Key features:

The BankSA Investment Cash Account is a little different from your regular savings account. This is because the account can be linked to a self-managed super fund or an investment portfolio, making access between the two easy as can be.

The major disadvantage associated with the account is its interest rate. The interest rate starts at just 0.25% and while it does jump up if you have more than $500,000 in the account, it only moves to 0.45%.

To help make up for the interest rate, the account comes with no ongoing monthly fees that could slowly erode your savings.

If you’re using your phone or the internet to make transactions, then you will be able to make an unlimited amount for free. You’ll also have 5 free eftpos, network ATM or cheque transactions every month and 2 free over the counter withdrawals a month.

Who it's good for:

A customer who is looking for a way to bridge their everyday funds and their investments, but isn’t too worried about a bumper interest rate.

Any catches?

If you are looking for a savings account with a good interest rate, this is probably not the account for you. If you are looking for a regular savings account to earn interest on your stash, the BankSA Incentive Saver might be more your cup of tea.

How are BankSA savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.7

Based on 551
BankSA savings accounts reviews

6.8 6.3 7.8 8.1 7.8

Read BankSA savings account reviews by the Mozo community

Latest reviews of BankSA Investment Cash Account

BankSA

BankSA Investment Cash Account savings account review

Overall rating   6 / 10

Good for students not so much for businesses

BankSA has great customer service and has ATMs literally everywhere. Where they miss the point is the delay it takes to transact a payment.

Full review

BankSA has great customer service and has ATMs literally everywhere. Where they miss the point is the delay it takes to transact a payment.

    Price   5 / 10

    Features   4 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Nemeem, South Australia, reviewed 4 months ago

BankSA

BankSA Investment Cash Account savings account review

Overall rating   8 / 10

Problem free and extremely helpful

It's South Australian based, I've been with them for 15 years and never had a problem with them

Full review

It's South Australian based, I've been with them for 15 years and never had a problem with them

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Jack, South Australia, reviewed almost 4 years ago

BankSA

BankSA Investment Cash Account savings account review

Overall rating   5 / 10

Great savings account

Good interest rate and return for term deposit. Competitive in the current market.

Full review

Good interest rate and return for term deposit. Competitive in the current market.

    Price   5 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Name not supplied, South Australia, reviewed over 5 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 0.25% p.a.

  • none

  • n/a

Fees

  • $0.00

  • none

  • Unlimited free transactions from phone and internet. 5 free transactions from eftpos, network ATM, cheque, and including up to 2 counter withdrawals.

  • $0.00

  • St George, Westpac, BankSA, Bank of Melbourne

  • none

  • $0.00

  • $0.00

  • $0.00

  • $0.20

  • $0.00

  • $1.00

Other financial bits

  • $10,000.00

  • $1.00

  • Monthly

Features

  • yes

  • none

  • yes

  • no

  • no

  • yes

  • yes

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

About BankSA

BankSA is the largest financial institution in South Australia, and boasts the largest network of branches and ATMs in the state. BankSA aims to help South Australians get the best from their money, and offers a wide range of bank accounts, home loans, personal loans, credit cards and other financial services.

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