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Frequently asked questions- Transactions and savings accounts
How do I open an additional transaction or savings account?
What is the easiest way to obtain my account balance?
When will the funds for a regular payment be debited from my account?
When will the funds from a ‘one off’ transfer or payment be debited from my account?
How often will I receive a statement and can I receive them online?
How many free withdrawals am I entitled to on my Everyday account?
What is sweep?
What is an account reference number?
Can I use the account reference number for direct debits?
What is the staff assist fee?
Can I send payments to credit cards held with another financial institution?
Can I make payments to other Teachers Credit Union members' accounts?
What is Teachers Credit Union’s BSB?
How can I make deposits if I can't get to a Teachers Credit Union office?
What is the maximum daily amount I can transfer or withdraw from my Teachers Credit Union account?
Can I do a transfer in internet banking if two signatures are required for withdrawals?
Can I transfer funds to an account held overseas by internet banking?
If connection is lost while performing a transaction, what should I do?
How do I cancel/amend a periodical payment?
How do I cancel a direct debit?
How do I close an account?
Complete and return this form to open a transaction or savings account. You can open an Online Savings account, Reward Saver account, Bill Paying account, Cash Management account and Christmas Savings account in internet banking.
The easiest way to obtain your account balance is:
Regular payments are processed on the due date if they fall between Monday and Saturday. If the payment falls on a Sunday, it will be processed on the next business day.
Funds for a ‘one off’ transfer are debited at the time transfer request is made, unless it is scheduled for a future date.
Your transactions and savings accounts transactions will be listed on your monthly statement. To receive your statements online, switch to online statements.
For a flat monthly access fee, you have unlimited withdrawals via:
- rediATM and NAB ATMs
- Visa debit card EFTPOS
- Visa debit card purchases
- Cash withdrawals at selected Teachers Credit Union offices
- rediCARD EFTPOS
- member cheque withdrawals
- direct debit
- direct credit
- BPAY
- perodical payments
- electronic funds transfer via internet banking
- electronic deposit
- internet and phone banking
Sweep is a simple transfer system. It automatically transfers funds from your savings accounts (except the Online Savings, Reward Saver, First Home saver and Christmas Savings accounts) to cover most transactions which would exceed your S1 account balance. Note that it is not activated by ATM, EFTPOS or Bank@Post transactions.
The account reference number is a 9 digit number that allows you to allocate funds directly to your savings accounts. Instead of transferring from your Everyday account, you can quote this number with our BSB 812-170, and the funds will be deposited directly into your chosen savings accounts. It can be located in your List of accounts in internet banking. If you do not use internet banking, call us to obtain your account reference numbers.
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Yes. You can set up direct debits in any of your transaction accounts. If you quote the account reference number to direct debit for any other account, it will be rejected and fees will be charged.
What is the staff assist fee?
The staff assist fee is payable on the S1 Everyday Direct account and S3 Online Savings account for staff assisted enquiries and transactions.
Yes. You can make payments to credit cards with other financial institutions using BPAY in internet or phone banking. You’ll find a Biller Code and reference number on the credit card statement.
Yes. You can make payments to other Teachers Credit Union members.
Our BSB is 812-170.
There are many ways you can withdraw from your Everyday account:
- Use your Visa debit card or rediCARD
- Use your Visa debit card or rediCARD using EFTPOS
- Visa debit card or rediCARD using Bank@Post™ at Australia Post offices (fee applies)
- Internet or phone banking transfer to other accounts
- BPAY
- Cheque books – withdraw up to $200 a day at any National Australian Bank branch using your Member cheque book (fee applies).
- Direct debits using our BSB number
- Mail – for cheques
There are many ways you can deposit into your accounts:
- Electronic crediting of your pay or other income using our BSB number
- Electronic deposits from your account at another financial institution
- National Australia Bank branches using a special NAB deposit book (request one by calling us).
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Bank@Post™ available at over 3,100 Australia Post offices
- Internet transfer from another Teachers Credit Union savings account or another member’s account
- Mail – for cheques
The maximum you can transfer from your accounts daily is:
- Using ATMs - $1,050
- Using BPAY and EFTPOS transactions - $1,000
- Using internet banking - $5,000 (you will need to contact us to increase your limit for a particular transfer)
There is no limit (up to your available balances) when transferring funds between your own savings accounts.
Yes. The signatory currently not logged in to internet banking will be prompted to enter their internet banking login and access code before the transfer is processed. Both parties must be registered for internet banking and have individual internet banking logins and access codes.
You cannot transfer to an overseas account in internet banking. If you want to send funds internationally use telegraphic transfer or foreign draft. You will need to complete the appropriate form available from this site.
If your internet connection drops out while you’re transacting online, log back into internet banking and check the transactions history.
To amend/cancel a periodical payment, either login to internet banking or advise us in writing.
We will accept an instruction in writing from a member to cancel a direct debit.
We will act on that instruction by promptly forwarding a cancellation request to the debiting institution and ensure, as far as practicable, that no further debits under the relevant authority are posted to your account.
Please note this does not cover regular debits from your Teachers Credit Card or Visa debit card, in that instance, you would need to cancel that payment yourself.
Complete and return this form.
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