About the Suncorp Wealth Cash Management Account
The Suncorp Wealth Cash Management Account (WCMA) is a new product that gives you a convenient place to park your funds – backed by the strength of a leading Australian bank. The WCMA provides you with easy access to your money, no account keeping fee and competitive interest without unnecessary fuss.
Market leading Interest Rates to ensure your funds are not at rest, you can use the WCMA as an operational account or as a secure cash investment.
No account keeping fee or Suncorp transaction fees. Find out more here.
No strings attached! There is no need to link your WCMA to any other banking products or services giving you more flexibility and control.
Flexible access options including;
- ATM & EFTPOS
- Cheque
- Visa Debit
- BPAY ®
- Suncorp Branches, Internet and Phone banking
- Transfer funds anywhere in the world
Under the Financial Claims Scheme, the Australian Government guarantees your total deposits with Suncorp including funds in your WCMA, up to $1million*. Your funds are also backed by Suncorp, Australia's 5th largest bank, giving you peace of mind in uncertain times.
*Guarantee is for 3 years commencing 12 October 2008 and guarantees up to $1m of a customer's total deposits with Suncorp-Metway Ltd. The amount guaranteed, the period of time the guarantee is in place and the conditions attaching to the Australian Government guarantee may change at any time.
Features that can help you grow
Swift, easy access to your money when you want it.
The WCMA is a flexible account for all your cash needs, allowing you to access your funds in a number of ways:
- ATMs and EFTPOS
- Cheque book
- Visa Debit
- BPAY ®
- Suncorp Branches, internet and phone banking
- Transfers to other financial institutions in Australia or overseas
A strong rate of interest to build a strong balance.
With a competitive interest rate structure to ensure your funds are not at rest, you can use the WCMA as an operational account or as a secure cash investment. Click here for the current interest rates.
It gets even better, with no account keeping fee.
You can maintain an even stronger balance while your money is parked, as you won't pay any account keeping fee. There are also no Suncorp transaction fees.
You can set up direct credits and the account can stand alone.
There is no requirement to link your WCMA to any other accounts or commit to a minimum investment and you can set up your dividends, salary, rental income or other payments to be credited directly.
You also enjoy the security of Suncorp and the Government Guarantee
Under the Financial Claims Scheme, the Australian Government guarantees your total deposits with Suncorp including funds in your WCMA, up to $1million*.
What's more, your funds are backed by Suncorp, Australia’s fifth largest bank. Renowned for market leading products and services, we’re now an A-rated financial institution. So, you know your money is safe with us.
*Guarantee is for 3 years commencing 12 October 2008 and guarantees up to $1m of a customer's total deposits with Suncorp-Metway Ltd. The amount guaranteed, the period of time the guarantee is in place and the conditions attaching to the Australian Government guarantee may change at any time.
Opening the account
Using the account
What is a Suncorp WCMA?
The Suncorp Wealth Cash Management Account (WCMA) is a new product that gives you a convenient place to park your funds – backed by the strength of a leading Australian bank. The WCMA provides you with easy access to your money, no account keeping fee and competitive interest without unnecessary fuss.
How can I open a WCMA?
The WCMA is an account offered by third party introducers to Suncorp such as accountants, solicitors or stockbrokers. Your introducer will advise you regarding the process required to open your WCMA.
Can I open an account in two names?
Yes, the WCMA is available for joint applications.
Can I open an account in the name of a business or trust?
Yes, the WCMA is able to support most business types. Due to the complexity of some of these structures, these requests are best handled in person and can be done through any Suncorp Branch. To get a list of information required to open your account click here.
What identification will I need to provide?
It is our legal obligation to identify all parties to an Australian bank account.
The identification requirements can normally be made up of what you have in your
wallet.
Can I apply for a WCMA if I haven't been referred?
No, this account is only available for sale through third party introducers and requires an introducer code to open.
Where do I find my introducer code?
This code will be supplied by your third party introducer.
How can I find out my account number?
Your account number will be mailed to you from Suncorp when the account is first
opened. At any time you can contact Suncorp to get this number.
How can I access my WCMA?
The WCMA has the same access options as many of our standard deposit accounts. This means you can still enjoy the service of our extensive branch and ATM network as well as the convenience of BPay, transfers to any other financial institution, Cheque and Internet or Phone banking.
How can I deposit money to my account?
You can make deposits in any of the following ways:
- Cash or cheques can be deposited at any Suncorp branch
- Salary, government benefits, dividends and other electronic payments can be deposited
by organising a direct credit
- Funds can be transferred from other Suncorp accounts using Telephone and Internet
Banking
- Funds can be transferred from other institutions using their branch, telephone and
internet services as available
Can my third party introducer access my account?
In som cases, your introducer may require direct access to your account in order to provide their service. Full details of their access is covered in the account opening process, which includes an ability to withdraw and transfer funds and obtain account information. At the time of account opening we will also confirm any access you have given to your introducer
Can I set up recurring payments on my account?
Yes, you can arrange for regular payments to or from your WCMA. To get recurring payments into your account simply supply the other bank/institution with your BSB number (484-799) and your account number. You can set up regular payments from your account via internet banking or by visiting one of our branches. Alternatively you can set up direct debits directly from the account, these are set up with the biller.
Where do I find my BSB number?
All Suncorp accounts have a BSB number of 484-799, this number should be supplied with your account number in order to get payments directly to the account.
How is interest calculated on the account?
Interest is calculated daily and paid monthly. It is calculated on a tiered basis which means that the interest rate may vary with the balance of the account. For more information, refer to the Wealth Cash Management Account Product Information Document.
Where can I find the current interest rates?
The interest rates for this product are available by viewing the rates section of
our Suncorp Website.
Is there a minimum or maximum balance to earn interest?
No, there are no minimum or maximum balances to earn interest although, the interest
tiers are generally better for higher balances.
Is there a monthly account keeping fee or transaction fees?
No, there are no account keeping fees however there may be transaction fees depending
on how you use the account. Fees for other services may apply. Refer to the Wealth Cash Management Account Product Information Document
for more details.
Can I use internet and phone banking?
Yes, the WCMA is available through both phone and internet banking.
How do I set up internet and phone banking?
Setting up phone or internet banking is a simple process that can be done by calling
one of our banking consultants on 13 11 55 with your account number. They will then
provide you with a Telephone Access Code (TAC) which will be required for you to
set up your internet banking log in.
Once set up, internet banking can be found by going to www.suncorp.com.au, selecting 'Internet Banking' and clicking
'Logon'.
