The Mutual Bank
Conveyancer Trust Account
An account for licensed conveyancers who are required by law to hold client's money in a complying trust account.
Trust accountsBank updated 1 July 2026
At a glance
- No headline figures published.
§ 01 — Rates · 2
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| VariablePenalty Interest will be charged on overdrawn accounts. | — | — | — | 20.00% | — | — |
| VariableInterest is paid to the Department of Fair Trading monthly after close of business at the end of the month as required by the relevant regulating body. | — | — | — | 3.92% | — | paid every 1 mo |
§ 02 — Fees · 13
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| UNCLAIMED_MONIES_FEE | Cash advance | $20 | — | The lessor $20.00 or account balance. Payable when an account is classified as dormant. |
| CHEQUE_DISHONOUR | Event | $9 | — | A dishonoured cheque is a cheque that is not paid by the financial institution on which it is drawn. A dishonour fee will apply each time the cheque is presented for payment and dishonoured. |
| DIRECT_ENTRY_DISHONOUR | Event | $9 | — | Payable when a direct entry (inward and outward) is dishonoured. |
| DOCUMENT_FEE | Event | $60 | — | $60.00 per hour (subject to minimum $10.00 per copy). Payable if you request copies of documents such as withdrawal forms or statements, or you ask us to verify a transaction performed on your Accoun… |
| DORMANT_ACCOUNT_FEE | Event | $20 | — | This fee is charged to each of your Deposit Accounts closed due to dormancy. The lesser of $20.00 or the account balance. |
| FINANCIAL_INSTITUTION_CHEQUE | Event | $2.50 | — | Payable when you request us to issue a financial institution cheque. |
| MISCELLANEOUS_SERVICE_FEE | Event | $60 | — | $60.00 per hour. Payable if you request information not covered by the Document Fee. |
| ONLINE_INTERNATIONAL_TRANSFER_(OUTWARD) | Event | $30 | — | Payable if you use online banking to transfer funds internationally. |
| OVERDRAWN_FEE | Event | $9 | — | If your Account is overdrawn, without our prior agreement, a fee will be charged each time this occurs. Penalty interest (at the rate disclosed on the Deposit Interest Rate Schedule) will also be cha… |
| OVERSEAS_TELEGRAPHIC_TRANSFER_(OUTWARD)_-_AUSTRALIAN_CURRENCY | Event | $50 | — | Payable if we assist you send funds electronically overseas in Australian dollars. |
| OVERSEAS_TELEGRAPHIC_TRANSFER_(OUTWARD)_-_FOREIGN_CURRENCY | Event | $30 | — | Payable if we assist you send funds electronically overseas in a foreign currency. |
| PHYSICAL_FOREIGN_CURRENCY | Transaction | 1.00% of transaction | — | 1% of Australian currency equivalent amount. Payable when physical foreign currency is issued or purchased. |
| BECS_SPONSORSHIP | Upfront | $500 | — | Subject to approval if your business requests sponsorship within BECS. $500.00 upfront fee, $0.25 per non direct debit item for The Mutual Bank, $Nil per direct debit item for The Mutual Bank. |
§ 03 — Features
Instant paymentsPayIDDigital bankingUnlimited transactions
§ 04 — Eligibility & limits
- · Residency: Australian citizen or permanent resident, or as otherwise approved
- · Available to businesses
- · A Business Cheque Account must be opened and maintained for fees and charges associated with this account
§ 05 — Compare
Published by Maitland Mutual Limited under the Consumer Data Right, last changed by them on 1 July 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.