Essentials Offset Account
Transaction & Savings AccountsData Sharing Status
Our Essentials Offset Account is available to customers looking to offset their loan with a convenient and accessible transaction account.
Fees
| Fee | Type | Amount |
|---|---|---|
| Monthly Account Keeping Fee Charged monthly | Ongoing |
Features
- Card access — Access funds at over 29 million outlets worldwide with a Visa Debit payWave Card.
- Digital banking
- Funds available 24 hours a day, 7 days a week through internet banking, ATM and EFTPOS anywhere in Australia
- Offset account
Eligibility
- Successful completion of applicable Arab Bank Australia Limited (ABAL) identification check requirements. Minimum opening balance of $50. To be eligible and get the benefits from the offset arrangement: - The Customer must hold an Essentials Home/Investment Loan in addition to the Essentials Offset Account. - The Customer must request to link their Essentials Home/investment Loan and Essentials Offset Account in writing to ABAL. - The Customer’s Essentials Offset Account must be in the same name as the - Customer’s Essentials Home/Investment Loan account. - The Customer’s Essentials Offset Account must not currently be linked to any other loan held by the Customer with ABAL. - The Customer’s Essential Home/Investment Loan must be regulated by the National Credit Code.
Constraints
- Opening balance — $50.00
Published by Arab Bank Australia Limited under the Consumer Data Right · Last updated 27 September 2024 · Product ID ESSOFFSET01 · View on CDR.gov.au