Banking Accounts Frequently Asked Questions
All you need to do is open a new account and organise any regular payments to be moved to your new account.
You can access the Suncorp Account Switching self-service tool that allows you to import information that you have stored with your other banks such as payees and billers. You can also download a summary of direct debits, direct credits and active regular transfers.
Find more information for switching your accounts to Suncorp Bank.
Stepped interest is when you’re paid a different interest rate for parts of your account balance that fall within set dollar ranges. For example, a 55 Plus account pays interest on a stepped basis.
Tiered interest is when you’re paid an interest rate based on the tier that your account balance falls into. For example, a Cash Management Account pays interest on tiered basis.
You can find your account number on your statement, cheque book, and within Internet or Mobile Banking, via the Suncorp Bank App.
You’re able to have up to 9 sub accounts linked to your main Everyday Options Account.
If you haven’t completed a transaction during last 12 months, you’ll need to reactivate your account by visiting a store or making an ATM withdrawal, transferring funds from the account, or completing a transaction on the account or linked debit card.
Daily limits are the maximum amount of money that can leave your account in a 24-hour period to protect you and your money from theft and fraud. Different daily limits apply to Internet Banking, ATM withdrawals and EFTPOS cash out withdrawals.
You’ll need a Security Token when transferring funds to other Australian banks and Bpay billers when the combined total is above $3,000 per day in Internet Banking, Mobile App and Suncorp App. If you have access to Global Payments or Business Payments in Internet Banking, you will be required to enter a Security Token Code for every transaction.
Oops! If you don’t have enough money to cover a transaction, your account may be overdrawn. Your transaction can get either ‘honoured’ or ‘dishonoured’, depending on your circumstances. You may receive an honour or dishonour fee of $10 if your account is overdrawn.
To protect the risk of overdrawing your account, you can set up an insufficient funds sweep to cover a direct debit, personal cheque or debit VISA transaction, by sweeping available funds from another related account.
You can contact us to see if your account can be set up for an insufficient funds sweep.
Yes, you could set up a ‘sweep’. A sweep is an automatic transfer between two of your accounts to ensure an account of your choice maintains a minimum balance or sufficient funds. There are two types of Sweeps – a Funds Management Sweep or an Insufficient Funds Sweep. You can organise a sweep by visiting your nearest store or sending a secure message via Internet Banking.
If you’re a savvy saver, you can set up an Automatic Savings Plan that transfers money into your chosen savings account on a regular basis, like just after pay day. It’s simply putting money aside that could be earning you interest.
To set up an Automatic Savings Plan, login to Internet Banking, click ‘Transfer Money’ to create a recurring payment between your Suncorp accounts.
Your personal account limit is a set maximum amount of money you or another account holder can transfer to someone from a business account on a daily basis. A business account limit is a set maximum amount of money that can be transferred from a business account on a daily basis.
Yes, we offer both personal and business accounts with no monthly account keeping fees.
Our everyday personal accounts with no monthly account-keeping fee are:
Our personal savings accounts with no monthly account-keeping fee are:
Our business account with no monthly account-keeping fee is:
The Financial Claims Scheme (FCS) limit of $250,000 applies to the sum of an account holder's deposits under the one banking license.
Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name.
A Product Information Document (PID) is a document that contains information about financial products and is designed to help you decide if a product can meet your needs.
The Account Switching self-service tool helps you identify regular transfer made from your old bank account, including:
- Direct Credits – Salary, rental income, Government payments, dividend payments
- Direct Debits – Phone, gym, electricity, gas
- Regular Payments – Rent, loan repayments, savings, internal and external transfers between accounts
- BPAY® payments – Rates, electricity, other bills
Once you have generated your Account Switching Report, and have saved the details of the regular billers and payees that you wish to import into Internet Banking, you are then able to easily re-establish any regular transfers within Internet Banking or the Mobile Banking App.
For help setting up Suncorp Internet Banking, adding billers and/or transferring money, visit our Internet Banking Help Page, or call 13 11 55.
You’ll have to notify your employer of your new account details (Suncorp’s BSB is 484-799 and your account number is contained in your welcome email).
Ensure you advise any other creditors of your new Suncorp account details so they can transfer directly into your new account. Don’t forget Medicare and other government agencies that automatically credit into your account.
Be sure to call all direct debit providers to advise them of your new Suncorp account number. Consider service providers that might have your card details on file, such as Paypal and Uber.
Suncorp can assist with cancelling direct debits on your behalf, however fees may apply. Please contact Suncorp on 13 11 55 if you require assistance.
- Ensure that there’s sufficient money in your new Suncorp account to cover any newly established transfers.
- It’s a good idea to leave some money in your old account to ensure any remaining debits are covered and you don’t incur a fee.
- Once you’re sure all payments are set up to and from your new account, you may wish to consider closing your old account to avoid any account keeping fees that may apply.
The service requires you to provide your login information from your other financial institution. This information is securely encrypted and is not seen or stored by Suncorp, or any of our third-party providers. A 95-day summary report will then become available for download in PDF format. You are also able to import saved billers or payees to Suncorp’s Internet Banking, which can then be used to establish any regular transfers.
You’ll be asked to enter your login details from your other financial institution, which is provided to our third-party provider and used to retrieve your 95-day summary report. Your login details are not stored. All information that is made available to you through this service is instantly purged at completion of the service. Payees and billers that you personally select to import to Suncorp Internet banking will be saved in your Internet Banking.
We have no contract or arrangements with any other financial institutions relating to the provision of this service. Your other financial institution may not authorise or endorse your use of this service or our provision of this service to you. You should ensure that your other financial institution permits your use of the service before proceeding.
This service requires you to input your login credentials of your other financial institution. Your login credentials are not stored. It is important to know however, that by disclosing these credentials, you could be breaching your other financial institution’s terms and conditions. While the security of this service is robust, any loss of money from your other financial institution that can be associated with the use of this service may not be protected under the ePayments code. You should ensure that your other financial institution permits your use of the service before proceeding.
Our flexiRate offers an interest that is fixed and guaranteed as long as the nominated period is completed.
Yes, all current flexiRates will show on your account statement, along with the applicable start and end dates, balances and interest rates.
The interest rate that applies to your automatically renewed flexiRate will be the current rate available for your allocated term at renewal time.
No, you can’t add money to a flexiRate until it’s released on your nominated end date.
No, unfortunately you cannot withdraw money to an existing flexiRate, as the interest rate is based on the money staying in your account for a fixed period. Instead, you can request an Early Release through Internet Banking, allowing you to access the entire portion of your funds.
Yes, if your account is operating in offset mode, you can still setup flexiRates on your Everyday Options sub-accounts.
Yes, you’re able to request an Early Release of the money that you previously locked away in a flexiRate, and you won’t pay any fees to cancel your flexiRate.
Your interest will be adjusted if you choose to release your flexiRate early. This simply reduces the amount of interest you’ll receive and doesn’t impact the amount that you originally put in.
Yes, you will receive a secure message and email alert within Internet Banking two weeks prior to your flexiRate end date.