Opening a joint account with BankSA is a straightforward process that can be completed online, via mobile banking, or in person at a branch. This guide provides a step-by-step overview to help you and your co-applicant set up a joint account with ease.
Eligibility Criteria
Before initiating the application, ensure both applicants meet the following requirements:
- Both must be 18 years of age or older.
- Neither applicant should have held a BankSA transaction account in the last 2 years.
- Both applicants must provide valid identification documents.
- Both must provide their Tax File Numbers (TFNs). For joint accounts, a minimum of two TFNs is required. Source: BankSA Account Forms
Application Methods
You can open a joint account with BankSA through the following methods:
1. Online Application
Visit the BankSA website and select the 'Open an Account' option. Choose the 'Joint Account' type and complete the online application form. The process typically takes 5–10 minutes. After submission, you'll receive an email with your application number and next steps. If you're a new customer, you'll need to verify your identity at a BankSA branch. Source: BankSA Opening an Account FAQs
2. Mobile Banking App
Open the BankSA Mobile Banking App and navigate to the 'Open an Account' section. Follow the prompts to complete the application. As with the online method, identity verification at a branch may be required for new customers. Source: BankSA Opening an Account FAQs
3. In-Person at a Branch
Visit your nearest BankSA branch to open a joint account. Bring all necessary identification documents and Tax File Numbers. A bank representative will assist you in completing the application and verifying your identity. Source: BankSA Opening an Account FAQs
Required Documentation
To successfully open a joint account, both applicants should provide the following:
- Proof of identity (e.g., passport, driver's license).
- Proof of address (e.g., utility bill, lease agreement).
- Tax File Numbers (TFNs) for both applicants. Source: BankSA Account Forms
Post-Application Process
After your application is submitted:
- You'll receive a confirmation email with your application number.
- If you're a new customer, you'll need to verify your identity at a BankSA branch. Source: BankSA Opening an Account FAQs
- Once approved, you'll receive a Welcome Pack containing your account details and information on how to manage your new joint account. Source: BankSA Opening an Account FAQs
Frequently Asked Questions (FAQ)
How long does it take to open a joint account?
The online application process typically takes 5–10 minutes. However, if you're a new customer, identity verification at a branch may extend the timeline. Source: BankSA Opening an Account FAQs
Can I open a joint account if I have held a BankSA transaction account in the last 2 years?
Both applicants must not have held a BankSA transaction account in the last 2 years to be eligible for the joint account offer. Source: BankSA Account Forms
What if I don't have a Tax File Number (TFN)?
Providing a TFN is not compulsory. However, without it, BankSA may be required to deduct tax at the highest marginal rate plus the Medicare Levy from any interest earned on the account. Source: BankSA Account Forms
Can I add a third person to a joint account?
BankSA currently offers joint accounts for two account holders. To add a third person, you would need to open a separate account for them. Source: BankSA Opening an Account FAQs
How do I close a joint account?
To close a joint account, all account holders must visit a BankSA branch together. Bring all necessary identification documents and ensure all outstanding transactions are cleared. Source: BankSA Opening an Account FAQs
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