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Easy Budget Account Making life easier

Save time, gain peace of mind with our Easy Budget Account.

Would you like to spend less time worrying about bills and more time enjoying life? Then it’s time to let Credit Union SA’s Easy Budget Account take care of you.

The Easy Budget Account is a new deposit account that helps you better manage your bills by spreading your payments evenly across the year.

It helps avoid bumps in your budgeting- taking away the stress of balancing your finances each month, and gives you the peace of mind that even if several bills arrive at once, your Easy Budget Account has you covered.

How it works

1. You nominate all your regular bills for the year and enter into a 12 month regular deposit agreement with Credit Union SA for the payment of those bills.

2. You agree to make regular, manageable deposits into the account each week, fortnight or month to cover your total annual bills - bit by bit.

3. Your nominated bills are paid from your Easy Budget Account as they fall due, whatever your balance at the time. Avoid late fees and start collecting discounts for paying on time.

4. If your account temporarily becomes overdrawn, that’s fine – no interest will be charged. 

All bills great and small

When opening your Easy Budget Account, you’ll need to nominate all your regular bills. 

For a handy list of bills you might like to include, download our Easy Budget Account checklist and take it to your Easy Budget appointment. 

A monthly fee of $5 will be charged to your account on the last day of each month within your 12 month agreement period. For a limited time the monthly fee is waived for the first 12 months.

Key features

      • Confidently set and achieve savings goals, understanding what your outgoing  expenses will be.
      • Have the peace of mind that comes from knowing your bills will be taken care of – even if several arrive at the same time.
      • The Easy Budget Account is integrated into Internet Banking, making it simple and convenient to use.
      • Rest easy knowing that money in your normal savings account won’t be needed for bills as they have already been budgeted for.

 

Interest rate

Product Name Interest Rate
Easy Budget Account 0.00% pa

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  • How do my bills get paid?

    You can choose to have your bills paid automatically or they can be paid manually each time. You might even have a combination of situations. Feel free to consider which way you prefer each bill to be paid when we set up the agreement.

  • What happens if a bill comes in higher than estimated?

    Our Easy Budget Account has what we call a ‘Rainy Day’ balance. If a bill comes in for less than the estimated amount the excess funds for that bill are added to this balance. In this way, if there are ever any bills that come in for an amount greater than your estimate, the Rainy Day funds may be utilised to pay these bills.

  • Why are we offering this account?

    At Credit Union SA we are here to help South Australians make the most of every cent they have so they can make the most of what life has to offer. We believe that this service is another way Credit Union SA can help facilitate a better financial outcome for all our Members.

  • How do I access my Easy Budget Account?

    You can access your Credit Union SA Easy Budget Account through your Internet Banking at any time. (If you do not have Internet Banking, we can easily set you up at no cost.)

  • What happens if I miss a deposit?

    We’ll contact you via email or SMS with a courtesy reminder to make the deposit. If you’re experiencing any financial issues, let us know as soon as possible as we may be able to help you work out a solution.

  • Can I change the bills in my agreement during the year?

    Absolutely - you can add or delete bills at any time, and you can also modify the amount or timing of existing bills. (Just keep in mind that this will alter your required deposit amount).

  • How long is an agreement?

    All Easy Budget Account agreements are for a 12-month period only.

  • Can I cancel the agreement early?

    You can cancel your agreement and close your Easy Budget Account at any time, providing your account is not overdrawn.

    However, cancelling your agreement and closing your Easy Budget Account won’t make your bills go away, so we encourage you to stick with the plan. If you want to cancel early, you won’t be able to enter into a new agreement for at least 12 months.

  • What do I do when my agreement is coming to an end?

    We will send you a reminder of the upcoming end date. From there, if you would like to proceed and don’t need to change any details in your agreement, you can sit back and relax knowing your Easy Budget agreement will automatically continue without you doing a thing.

    Alternatively, let us know if you would like to update any bills or details in your agreement. We can easily make any necessary adjustments and then set the agreement to proceed for another 12 months.

    Or, if you choose not to continue with Easy Budget, we will cancel the agreement, close your Easy Budget Account and transfer any remaining funds into your nominated account.

  • What is an Easy Budget Account?

    Easy Budget is a budgeting tool which helps to consolidate and manage your expenses to ease the stress of paying bills. It does this by smoothing out the payment of bills over a 12 month period. In this way, even if all your bills come at the same time, you know they are covered- avoid financial stress, and giving you peace of mind. One regular payment, at a frequency of your choice, will cover all your bills over 12 months regardless of the balance of your account at the time the bills comes in.

Conditions and fees apply and are available upon request. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.