EveryDay Transaction Account FAQ
Can I open an EveryDay Transaction Account?
What benefits do I receive if I'm a member of a super fund or union?
When can I start using my account?
How much money do I need to open my account?
Can I select my own Personal identification Number (PIN)?
How do I deposit money into my EveryDay Transaction Account?
How do I make withdrawals from my EveryDay Transaction Account?
Can I have the EveryDay Transaction Account with a Debit MasterCard?
How is a Debit MasterCard® card different to an EFTPOS card?
What is MasterCard® PayPass with Tap & Go™?
Can I withdraw money using MasterCard® PayPass?
Can I use my account overseas?
Can I use my account to make purchases online?
Are there any fees on my account?
How can I avoid paying ATM Operator Fees?
Can I have more than one EveryDay Transaction Account?
Can I open an EveryDay Transaction Account for business use?
Will my EveryDay Transaction Account appear on Online banking?
Will I earn interest on the EveryDay Transaction Account?
Do I have to provide my Tax File Number when I apply for an account?
How often will I receive statements for my EveryDay Transaction Account?
Why is ME Bank offering a PINK Debit MasterCard® with the EveryDay Transaction Account?
Why does the PINK card cost $10 when the Lime and Metallic cards do not have a card fee?
Will I know how much I have contributed to the National Breast Cancer Foundation?
Will I receive a tax receipt for my contribution for tax deduction?
What do I do if my card is lost or stolen?
If my card is lost, stolen or damaged is there a cost for replacement?
What is Secure chip technology?
Can I open an EveryDay Transaction Account?
Yes, you can if you are a minimum of 16 years old and either:
- an Australian citizen,
- an Australian permanent resident or
- an Australian resident for taxation purposes
and have an Australian residential address.
The application should be completed by the account holder.
What benefits do I receive if I'm a member of a super fund or union?
If you're a member of an eligible industry super fund or union (and have supplied us with your membership details) we'll waive the $5 monthly account keeping fee when you deposit a minimum $500 into your account each calendar month.
Am I entitled to receive the member benefit for the monthly account keeping fee to be waived if my partner who is a joint account holder is a member and I am not?
Yes, in a joint account, only one of you is required to be a member of an eligible industry super fund or union (and have supplied us with your membership details). The $5 monthly account keeping fee will be waived when you and your joint account holder collectively have deposited a minimum of $500 into your account each calendar month.
What if I have a current Super Member Home Loan but I am no longer a member of an eligible super fund or union? Will I still be entitled to receive the member benefit?
No. You will not be entitled to receive the member benefit if you are no longer a member of the eligible super fund or union. The monthly account keeping fee waiver is only exclusive to members of eligible super funds or unions who have provided their membership details and deposited a minimum of $500 into the account each calendar month.
Can I open an EveryDay Transaction Account if I am not a member of a participating super fund or union?
Yes, if you meet the minimum account opening criteria, you can open an account. The $5 monthly fee will apply to the account.
When can I start using my account?
You can start using your account as soon as it has been opened, generally this will be within 5-7 business days. A Debit MasterCard® will be sent to you shortly after the account has been opened. You will need to call us on 1300 654 998 to select your 4 digit Personal Identification Number (PIN), this will activate your card.
How much money do I need to open my account?
There is no minimum balance required to open an account. However, to be eligible to have the monthly fee waived you must deposit a minimum of $500 each calendar month and be a member of an eligible super fund or union.
How do I activate my card?
You will need to call us on 1300 654 998 to select your Personal Identification Number (PIN), this will activate your card.
Can I select my own Personal identification Number (PIN)?
Yes. When you receive your card call us on 1300 654 998 Monday to Friday 8am-8pm or Saturday 9am to 5pm Melbourne time to set up your 4 digit PIN.
How do I deposit money into my EveryDay Transaction Account?
There are a number of ways you can make deposits:
1. Salary Payments
The easiest way is to have your salary/income credited directly to your account. You will need to advise your Payroll department of your new account details.
2. Online banking
Use ME Bank Online banking to transfer funds from an existing account into your EveryDay Transaction Account
3. Deposit cash or cheques
You can do this at any Australia Post office displaying the Bank@Post™ symbol. All transactions made at Bank@Post require your card and PIN. Cheque deposits made at Bank@Post™ must be made payable to either the cardholder depositing the cheque or to ME Bank. Please write the account number on the back of the cheque to ensure it is banked into the correct account. Please be aware that fees apply for transactions made at Bank@Post. Please refer to the Fees & Charges Guide.
Joint Account Holders: please note that cheques made payable to joint names cannot be accepted at Bank@Post. If you receive these types of cheques please send them to us at:
Transaction Banking
ME Bank
GPO Box 1345
Melbourne VIC 3001
If you deposit a cheque, funds can be withdrawn once the cheque is cleared by the financial institution it is drawn on. Generally this takes three to five days.
4. Regular Automatic Payments
Set up a regular automatic electronic deposit. You can do this from another account into your EveryDay Transaction Account. To do so, download and print the Direct Debit Form and return it by fax or mail to:
Transaction Banking
ME Bank
GPO Box 1345
Melbourne VIC 3001
5. Other payments
If you receive regular payments such as dividends or rental payments, arrange for them to be directly credited into your EveryDay Transaction Account.
How do I make withdrawals from my EveryDay Transaction Account?
There are a number of ways you can withdraw from your EveryDay Transaction Account.
1. EFTPOS
Your EveryDay Transaction Account has free EFTPOS transactions, including cash out, at any retailer throughout Australia displaying the EFTPOS symbol. This enables you to pay for goods and services using your debit card instead of cash.
Many retailers also provide a cash withdrawal facility with purchases. Please choose 'SAV' (Savings) as the account on the EFTPOS terminal.
2. ATM
Your account has 15 free ATM transactions (balance enquiries and cash withdrawals) per month at ME Bank, Westpac, St.George or BankSA ATMs (except St.George and BankSA ATMs at BP Petrol Stations). You can use your debit card 24 hours a day, seven days a week to withdraw cash or obtain an account balance.
For security reasons, your card will be blocked if the PIN is entered incorrectly three times. If this happens, please contact us and we will unblock your PIN.
3. Bank@Post™
You can also withdraw cash using your card and PIN at any Bank@Post outlet. Please note that a $2,000 daily limit applies to withdrawals made using a debit card. Also, retailers and other financial institutions may impose additional restrictions or transaction limits. Please be aware that fees apply for transactions at Bank@Post. Please refer to the Fees & Charges Guide.
4. Online banking
You can use Online banking services to transfer funds from your EveryDay Transaction Account to selected ME Bank accounts. You can also transfer money to family/friends or any other third party account (held at any Australian Financial Institution) using Internet Banking. An initial limit of $2,000 applies per customer per day, but can be increased to $5,000 or $10,000.
5. BPAY®
Pay your bills to more than 16,000 providers in Australia from your EveryDay Transaction Account using BPAY.
®BPAY is Registered to BPAY Pty Ltd ABN 67 079 137 518.
6. Personal Cheque
If you prefer to pay by cheque from your account, an optional cheque book containing 50 cheques costs $10. To order a cheque book, please call us on 1300 654 998. You should receive your cheque book generally within 5-7 working days. Note: Cheque books cannot be issued to a person who has not attained the age of 18 years.
7. Bank Cheque
You can make a withdrawal from your account by purchasing a bank cheque. To purchase a bank cheque please tell us the amount, the name of the payee and whether you want to collect it from one of our branches, our office or have it sent to your residential address. You can request a bank cheque by writing to us, calling us, or by emailing us using Internet Banking secure e-mail service. A bank cheque fee applies.
Can I have the EveryDay Transaction Account with a Debit MasterCard?
The EveryDay Transaction Account automatically comes with a default Debit MasterCard. If you did not choose the colour of the card on your application form, ME Bank will send you a Lime card.
How is a Debit MasterCard® card different to an EFTPOS card?
A Debit MasterCard is like an EFTPOS card, only better as you can use it anywhere MasterCard is accepted using funds from your EveryDay Transaction Account. Just press 'Credit' whether you're paying at your local supermarket or at a café in London. By pressing 'Credit', you're protected from unauthorised transactions at more than 30 million locations worldwide. Terms and conditions apply.
What is MasterCard® PayPass with Tap & Go™?
Debit MasterCard with PayPass is like having the exact change wherever you go. Just 'tap' your card on the PayPass reader and 'go' as soon as you see the green light or hear the beep. There's no signing your name or entering a PIN for purchases of $100 or less.
Can I withdraw money using MasterCard® PayPass?
No. To withdraw cash when you make a purchase you will need to swipe or insert your card into the EFTPOS terminal, choose 'SAV' (Savings) as the account and enter your PIN.
Can I use my account overseas?
Yes. Your Debit MasterCard® is accepted at more than 30 million locations. Your card allows you to shop securely overseas using your own money via the 'Credit' button and you can access cash via international ATMs by choosing the 'Savings' button.
Can I use my account to make purchases online?
Yes. Your Debit MasterCard® allows you to shop securely in-store, online, and over the phone in Australia and overseas – using your own money.
Are there any fees on my account?
Yes. Please refer to the Fees and Charges guide for a full list.
How can I avoid paying ATM Operator Fees?
Take out extra cash when using EFTPOS to make your purchases. You have unlimited free EFTPOS transactions on this account and these transactions are excluded from the ATM Operator Fee. Check your account balance, transfer funds and pay bills using ME Bank's Online banking services.
Can I have more than one EveryDay Transaction Account?
Yes. Simply fill in another application. Remember members of eligible super funds and unions will receive a waiver of the $5 monthly account keeping fee when they deposit a minimum of $500 into each EveryDay Transaction Account they hold, each calendar month.
Can I open an EveryDay Transaction Account for business use?
No, this account is specifically for personal use only.
Will my EveryDay Transaction Account appear on Online banking?
Yes, you will be able to view all your transactions once you have registered for our Online banking services. You will also be able to deposit and withdraw money using Online banking. If you have previously set up access to our Online banking services, you will still be able to use your original Customer ID and Access Code.
Will I earn interest on the EveryDay Transaction Account?
No, the account does not earn interest. However, you can link your EveryDay Transaction Account to our Online Savings Account, an account designed to earn high interest but still have your money available at call.
Do I have to provide my Tax File Number when I apply for an account?
No. As the account does not earn any interest we do not require your Tax File Number (TFN). However, if, when you apply you also request for us to open an ME Bank Online Savings Account then you will need to provide your TFN if you do not want any interest earned to be taxed. We are only authorised to use your TFN for lawful purposes.
How often will I receive statements for my EveryDay Transaction Account?
Statements are issued quarterly at the end of March, June, September and December.
Why is ME Bank offering a PINK Debit MasterCard® with the EveryDay Transaction Account?
ME Bank has been a proud major sponsor of the Mother's Day Classic since 2005. The national event was established to raise funds and awareness for breast cancer research with all proceeds donated to the National Breast Cancer Foundation (NBCF).
ME Bank has now joined with the National Breast Cancer Foundation to create the PINK Debit MasterCard® to further support the NBCF's research projects – funding research for prevention and cure.
Why does the PINK card cost $10 when the Lime and Metallic cards do not have a card fee?
The $10 fee is a card fee as the PINK Debit MasterCard® is only produced for limited periods of time during the year to support raising awareness and funds for breast cancer research.
How does the PINK card contribute to the National Breast Cancer Foundation and breast cancer research?
Every time you make a purchase using the PINK card, ME Bank donates $0.01 (regardless of the dollar amount on the transaction) to the National Breast Cancer Foundation. Purchases include transactions made by selecting the 'Credit' or 'Savings' button on the EFTPOS terminal, online purchases and overseas transactions. Please note, BPAY®, ATM or Bank@Post transactions, direct debit/credit, and internal account transfers are not included.
Will I know how much I have contributed to the National Breast Cancer Foundation?
Not on an individual basis, ME Bank will publish the total amount contributed to National Breast Cancer Foundation from this product on a yearly basis. Please visit the Media Centre on ME Bank's website.
Will I receive a tax receipt for my contribution for tax deduction?
ME Bank will not be able to issue any tax receipt to individuals as the contribution to National Breast Cancer Foundation does not come from the amount of the purchase paid by customers but instead is paid by ME Bank out of its own income. The amount of the contribution is calculated based on the number of purchase transactions made by customers using the Pink card.
What do I do if my card is lost or stolen?
If your card is lost or stolen whilst you are in Australia, simply phone our Customer Contact Centre on 1300 654 998 to cancel your existing card and arrange for a replacement to be sent to you. If you are overseas when your card is lost or stolen, you may contact MasterCard Global Service or any financial institution displaying the MasterCard symbol to cancel your existing card and arrange for a replacement to be sent to you.
If my card is lost, stolen or damaged is there a cost for replacement?
There is no charge for replacing your card if it's lost, stolen or damaged. If however, you request that your replacement card be sent to you by courier or change your card colour, a fee will be payable, please refer to the Fees and Charges Guide.
What is Secure chip technology?
For improved security, your Debit MasterCard uses encryption chip technology. A microchip is embedded in your Debit MasterCard which helps prevent fraudulent use. It authenticates your point-of-sale purchases or ATM transactions.
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