The company made its first acquisition in 2001 by taking over GIO General Ltd, which was then part of AMP. [9] Citibank now handles the operational aspects of credit whilst the Suncorp brand remains on the cards and Suncorp continues to provide customer interaction. display: flex; Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Earn bonus interest even if you make withdrawals during the month. text-decoration: none; Earn a competitive interest rate on your Suncorp term deposit with a fixed interest rate and your choice of term. She is passionate about helping people find the best deal for their needs. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. } } Suncorp Business Saver Account flexiRates, You meet account specific age requirements, You meet minimum account opening balance requirements (if any), Details from identification documents like your Australian passport or driver’s licence, Your residential address, email address, and phone number. Go to site Affordable banking for low income customers and holders of concession and health care cards. The first two digits (AA) specify the bank or financial institution where the money is being sent. With flexiRates as a part of your savings plan, you get the same benefits of a term deposit without the inflexibility. Completing the application successfully requires that you provide the following information. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. .heroImageLogo { Suncorp bought out AMP's share of the joint venture in 2002. ; The third digit (B) indicated which state the bank branch is located in. .heroHeaderDesktop { It is the largest banking and insurance corporation headquartered in Brisbane.[5]. Home. Simplify your finances at retirement by combining your funds into one easy to manage transaction account. $0 [12] In 2013, distressed-debt investors, seeking investment opportunities in Asia, particularly in Australia, acquired discounted bonds or bank loans of companies facing distressed debt, with the potential of profitable returns if the companies' performance or their debt-linked assets improves. for months, reverting to a rate of 0.35% p.a. In 1971, the SGIO took another step toward full-fledged corporate status, forming its own board of directors. Google Pay, Apple Pay, Samsung Pay margin-top: -15px; In 2013 Australia was one of the biggest markets for distressed-debt investors in Asia.[12]. finder.com.au is one of Australia's leading comparison websites. Filter by State. Your term deposit with Suncorp is protected by the government of up to $250,000. display: -ms-flexbox; } ; The last three digits (CCC) are a unique identifier for a branch, usually specifying the address of the bank branch. BSB numbers identify bank branches in Australia. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. Find a branch To find your nearest store and their opening hours, ... (“Suncorp Bank”). .fsaHeroH3Mobile { Free Visa debit card and online access for low income earners and concession card holders. font-weight: 600; -webkit-box-direction: normal; when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. In 1988, Metropolitan abandoned its status as a building society to reincorporate as a bank. Combine your savings and everyday money into one convenient account and earn interest on your money. In 1997, the company conducted a public offering that reduced the government's stake in Suncorp-Metway to 4 percent, with the last remaining government shares sold one year later. [6], In June 2013, Goldman Sachs's Special Situations Group, the proprietary investment unit of the investment bank, purchased some of Suncorp Group Ltd.'s loans for about US$863 million. Suncorp, which has a massive insurance operation and a smaller bank, outlined plans last week at half-year results to boost a home-loan book that … In this role, Paul was responsible for leading more than 800 branches and 7,000 employees before being seconded to Malaysia for two years as the Managing Director, Retail Banking for AmBank. Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. BSB (Bank-State-Branch) Number is a six digits numerical codes used to identify an individual branch of a financial institution in Australia. } We don’t compare all products in the market, but we’re working on it! Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. The naming rights to buildings, including Suncorp Place in Sydney and Suncorp Metway Plaza in Brisbane are also held by the group. font-weight: 400; text-align: center; A term deposit with Suncorp Bank allows you to lock away a specific amount of money at a fixed interest rate for a nominated period. for 4 months, reverting to a rate of 0.35% p.a. Ongoing, variable 0.4% p.a. Suncorp acquired insurance joint ventures with motoring clubs RACQ and RAA in 2001, but chose to divest them in 2010. By the mid 1990s, QIDC had assets of approximately $3 billion.[6]. .promotedHeroTooltip { Registered office: Level 28, 266 George Street, Brisbane Qld 4000. You will need to make a minimum investment of $5,000 and up to $2,000,000, and can select a period from one month to 36 for your investment. } Bonus interest available on balances up to $25,000,000. border-radius: 2px; Earn bonus interest even if you make withdrawals during the month. We try to take an open and transparent approach and provide a broad-based comparison service. In 1996 by the merger of Suncorp, Metway Bank, and the Queensland Industry Development Corporation the Suncorp Bank … when you grow your balance by $300+ per month. Available on the entire balance. Please read our website terms of use and privacy policy for more information about our services and our approach to privacy. Queensland established the State Accident Insurance Office in 1919,[6] to provide mandatory injury compensation insurance to workers in the state's business sector. Learn how we maintain accuracy on our site. Available on balances Up to $500,000. Available on balances up to $250,000. .heroHeaderMobile { } } font-weight: 600; Sydney, NSW, Australia 2000. } } max-width: 75%; That purchase made Suncorp-Metway the second ranked in Australia in terms of income from general insurance in annual premiums. } Track down your nearest branch with the Suncorp Branch Locator - enter your preferred location into the search box to find branches close by: Search. Ongoing, variable 0.25% p.a. Monthly fees: $0 Suncorp. Branches. Come into a Suncorp branch and have a conversation with one of our banking specialists, lending managers. .rateName { font-size: 1.5rem; Promoted Should you have further questions, please don’t hesitate to reach us out again. } Suncorp Bank offers a range of personal banking, small to medium enterprise banking, commercial lending, and agribusiness banking solutions. border: 1px solid #d5d9dc; Suncorp Bank (Suncorp-Metway Ltd ABN 66 010 831 722) is only liable for the banking products or services it provides and not the products and services of other companies in the Suncorp Group. Ongoing, variable 0.1% p.a. -webkit-flex-flow: column; Link up to 9 interest-earning sub accounts. } .fsaHero { .gridMargin { } .fsaHeroH3 { For example, while ANZ customers can deposit up to $5,000 per transaction per day using Bank@Post, Suncorp Bank customers can only deposit a maximum of $3,000. At the same time, Suncorp became an independent corporation, although still government controlled. when you deposit $20+ and make only one withdrawal each month. We compare from a wide set of banks, insurers and product issuers. color: #6c7881; left: 0.5rem; max-height: 65px !important; Available on balances more than $0.01. display: block; [14][15], Suncorp covers nearly all areas in wealth and banking, including life insurance, general insurance, commercial insurance, Compulsory Third Party (CTP), banking, finance, superannuation agricultural banking and business banking, the notable exception being health insurance. You are about to post a question on finder.com.au: Subscribe me to Finder’s free weekly newsletter for budgeting tools, timely news and savings essentials to take control of your finances. position: relative; You could start your financial future off on the right foot with a savings account that is custom made to fit the needs of Australian kids. variable rate each month you grow your balance (excl. -ms-flex-flow: column; } Link up to 9 interest-earning sub accounts. The new company, Suncorp-Metway, became one of the largest insurance and finance groups in Australia, ranking fifth in the national market. padding-top: 5px; display: flex !important; .desktopCTAs { bottom: 0.5rem; Suncorp Business Services appointed its new CEO, Matt Pancino, on 13 June 2014. font-weight: 400; right: 2rem; If you’re between 18-29, you can earn a 3% p.a. Bank account offer More info The bank state branch number format consists of three parts: AAB-CCC. font-weight: 600; } The reason behind the re-branding is to give the company a view[citation needed] that Suncorp is a bank with an insurance arm, not an insurance company with a banking division. } The features of Suncorp's eOptions Saver account can reward account management with increased interest earned. As part of its personal banking solutions, it offers transaction accounts, savings, accounts, term deposits, credit cards, personal loans, home loans, and more. Under new legislation, the company dropped the SGIO name in favour of the name Suncorp and its employees lost their status as civil servants. BSB Number is used in Australian Paper Clearing System (APCS) and Bulk Electronic Clearing System (BECS) payment systems. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market. vertical-align: super; ... Suncorp bank to close 19 branches … Local Suncorp Branches. text-align: center; Suncorp is the parent company of insurance company GIO, which is mainly used as a general insurance company representing Suncorp outside Queensland, offering similar products to the Suncorp branded insurance product in Queensland. display: none; } .mobileCTAs { finder.com.au has access to track details from the product issuers listed on our sites. -webkit-box-orient: vertical; [11] Suncorp operated 232 retail and business banking outlets, predominantly in Queensland. finder.com.au is a financial comparison and information service, not a bank or } They're issued by many banks in Europe, but banks elsewhere in the world are starting to adopt them as well. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. product provider, We cannot provide you with personal advice or recommendations, Terms of Use, Disclaimer & Privacy Policy. In 1960, new legislation establishing the SGIO as a separate corporation was passed, and the group became subject to state regulatory oversight. Local ANZ Bank Branches. It is one of the mid-sized banks in the Australian region. Link up to 9 interest-earning sub accounts. } .providerLink { } By early 2007, the two companies had agreed the terms of a merger deal valued at AUD 7.9 billion ($5.9 billion), which represented one of the largest acquisition deals completed in Australia's financial sector since the beginning of the new century.[7]. text-align: center; } display: none; Thanks for getting in touch with Finder. I hope all is well with you. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000. } monthly fee font-size: 1rem; .fsaHeroProductName { Introductory rate of 1.1% p.a. Pancino formerly worked as the Chief Information Officer for the group. Tal Australia purchased Asteron Australia from Suncorp in December 2018.[17]. padding-left: 10px; This is also being done to try to aid the bank's expansion into Western Australia, where Suncorp is not known for its banking capabilities, with the focus previously being on its insurance strengths. .promotedHeroTooltip { Suncorp Everyday Options Account .tableDescription { Suncorp Bank has more than 200 branches spread across Australia, making it ideal for people who like banking in person. } align-self: center; Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. .tableDescription { @media screen and (max-width: 600px) { display:none !important; Ongoing, variable 0.95% p.a. display: block !important; .rateText { After its integration phase, Suncorp-Metway began putting into place a new strategy. We encourage you to use the tools and information we provide to compare your options. Suncorp then began preparations for a still larger takeover of insurance giant Promina Group Limited. Lock away a portion of your money and earn guaranteed interest. Stream Babert - Boogie Oogie (Original Mix) by L.O.Dee from desktop or your mobile device. .desktopCTAs { [12] In the summer of 2013 as European lenders were divesting their loans portfolios, in Australia, hedge funds and investment banks were buying them. display: none; display: -webkit-box; Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. display: block; By 1976, as SGIO's insurance operations took on a more commercial orientation, the company closed down its building society operations. interest) and make 5+ settled debit card purchases from your linked Westpac Choice account, up to a balance of $30,000. font-size: 0.8rem; No monthly account-keeping fee. variable rate each month you grow your balance (excl. Promina was formerly part of the UK-based insurance giant Royal and Sun Alliance until it spun off the business in Australia as a separate public company in 2003. } By the mid 1990s, Suncorp was an allfinanz (i.e. text-align: center; Metway's operations also extended into the other eastern states and the assets of the bank were more than $7 billion. Confirm details with the provider you're interested in before making a decision. If you are referring to the Suncorp term deposit accounts, the answer is yes. .heroHeaderMobile { Suncorp is also the title sponsor of the Suncorp Super Netball competition in Australia. We value our editorial independence and follow editorial guidelines. font-size: 1.3rem; SGIO later expanded into building society operations, superannuation, and finance. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Rather than trying to manage multiple accounts for your range of financial needs, Suncorp provides you with an easy way to divide up your money in one convenient account. Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. New legislation soon after created a larger insurance body, the State Government Insurance Office (SGIO) which took over the State Accident Insurance Office. } padding-left: 10px; Suncorp has been granted a MySuper authority, enabling it to continue to receive default superannuation contribution from 1 Jan 2014. display: flex; font-size: 1rem; At this time, the operations involving injury compensation for workers were placed under a separate board. [8] The merger transformed Suncorp into a true giant in Australia, doubling its assets to nearly AUD 85 billion ($65 billion). flex-flow: column; Ongoing, variable 1.2% p.a. .perAnnum { .mobileCTAs { Metway became the largest Queensland based bank by the mid 1990s. [13], Suncorp was inducted into the Queensland Business Leaders Hall of Fame in 2016. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service. These assets were acquired with the Promina Group in 2007. 6. It is a rectangular sporting stadium located in the Brisbane suburb of Milton, and is the home of the Brisbane Broncos and Queensland Reds. .listTextMobile { The next step toward the SGIO's move toward the private sector came in 1985. $0 monthly account keeping fees. margin: 8px; Ongoing, variable 0% p.a. For the Canadian oil company, see, Queensland Industry Development Corporation, "Directors Report and Financial Statements 2015", "Promina shareholders approve $8b Suncorp merger", "Suncorp to transfer $230m credit card portfolio to Citi", "Suncorp and Citibank Sign Credit Card Deal", "Chief Executive Officer's presentation to Morgan Stanley Asia Pacific Summit, Singapore", "Queensland Business Leaders Hall of Fame | Suncorp Group", "Don't be fooled by the plethora of brands", Suncorp - 2016 Queensland Business Leaders Hall of Fame digital story, Australian Competition & Consumer Commission, Australian Prudential Regulation Authority, https://en.wikipedia.org/w/index.php?title=Suncorp_Group&oldid=1006825665, Companies listed on the Australian Securities Exchange, Financial services companies established in 1996, All Wikipedia articles written in Australian English, Articles with unsourced statements from April 2011, Creative Commons Attribution-ShareAlike License, This page was last edited on 15 February 2021, at 00:39. rate when you deposit at least $200 each month and make no withdrawals. } [18]. $0 monthly account keeping fees. An additional 157 retail branches and services centres were added with the Promina acquisition. in. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. Shirley Liu is Finder's global program manager. Ok, so Suncorp Bank has actually switched teams. However, we aim to provide information to enable consumers to understand these issues. Ongoing, variable 0.01% p.a. The Queensland government initially controlled 68 percent of the new company, but quickly made good on its promise to sell off most of its stake. You can learn more about how we make money here. .rateDec { You’ll need to use one when sending money to Australia with TransferWise, along with an account number. Metway Bank started as the Metropolitan Permanent Building Society which was founded in 1959. position: absolute; Acceptance by insurance companies is based on things like occupation, health and lifestyle. display: none; bottom: 1.3rem; Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. when you grow your balance by $300+ per month. font-size: 3.5rem; When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. padding-left: 10px; .listTextMobile { Suncorp Everyday Options Account justify-content: space-between; [6] In 1986, new Queensland legislation was passed to incorporate and regulate the bank as the Queensland Industry Development Corporation. with combined banking, financial, and insurance operations) group and had assets of nearly $10 billion. Track down your nearest branch with the ANZ Bank Branch Locator - enter your preferred location into the search box to find branches close by: During a retail banking review in 2007, Suncorp determined its credit card portfolio was a non-core asset and entered into talks to sell its 100,000 card/$230 million credit-card portfolio to Citibank. Suncorp trades under a number of brands,[16] including AAMI, Apia, Shannons, InsureMyRide, Vero, Terri Scheer, Bingle, CIL and Tyndall insurance brands in Australia, and Vero, Asteron, Guardian Trust, Tyndall, Vero Liability, AA Insurance, SIS, CMV/AXIOM and Autosure brands in New Zealand. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. } Mar 19, 2019 - 26 – Atjazz, N'dinga Gaba, Sahffi – Summer Breeze (Atjazz Main Mix) 6:30 / 125bpm. An online savings account for your business with the option of fixed interest rates. $0 Ongoing, variable 0.05% p.a. Available on balances up to $250,000. Go to site If you wish to apply for an account that accepts online applications, simply click on the ‘Go to Site’ button, but make sure you meet the following eligibility criteria. .listTextDesktop { text-align: center; margin: 2px; position: relative; Also in 2002, Suncorp purchased half of RAA Insurance from the RAA. Available on balances up to $5,000,000. max-width: 75%; .listTextDesktop { font-size: 1rem; RACT Insurance in Tasmania continues to be 50% owned by Suncorp in a joint partnership with RACT. Bonus interest available on balances up to $250,000. The company's insurance operations, excluding Queensland, took on the GIO name. General insurance, third party and life products were added. display: flex; ATM withdrawal fee Suncorp Bank has more than 200 branches and 2,000 ATMs across Australia, and it provides its customers with online and mobile banking platforms. Ongoing, variable 0.8% p.a. You should consider whether the products or services featured on our site are appropriate for your needs. margin: 2px auto 4px !important; Disclaimer - Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Suncorp Bank Limited is an Australian finance, insurance and banking corporation based in Brisbane. [10], As of 2007, Suncorp had assets of over A$95 billion,[6] over 9 million customers,[6] and over 16,000 staff. } padding-top: 5px; Suncorp had initially invested $1,049m in fossil fuels but have since withdrawn from the sector. font-weight: 400; font-size: 1rem; Suncorp. Ongoing, variable 0.85% p.a. font-size: 14px; The company acquired 50 percent of the Queensland-based RACQ Insurance, a joint venture originally formed between AMP and RACQ. position: relative; By 1998, the company's combined assets exceeded $22 billion. Please refer to our. GIO operated 34 agencies in NSW and Victoria. Suncorp holds the naming rights of Lang Park, currently branded as Suncorp Stadium. padding-top: 5px; We update our data regularly, but information can change between updates. If you’re between 18-29, you can earn a 0.55% p.a. ANZ bank is closing 19 branches across Australia as customers overwhelmingly flock to the bank's online portals instead of banking face-to-face. In response to sweeping changes in Australia's financial and insurance industries in the mid 1990s, and especially the increasing convergence of the banking and insurance sectors, the state owned QIDC and Suncorp were amalgamated with Metway Bank in 1996. Suncorp’s bank is the other asset that is commonly linked to consolidation activity, but despite the expectations it’s been a quiet few years. Level 10, 99 York St, IBANs (international bank account numbers) identify individual bank accounts. margin: .25rem 0; Available on the entire balance. right: 0.5rem; margin: 2px auto 4px !important; when you maintain a minimum balance of $0.01 and over. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan. Are your term deposits guaranteed by the government? We provide tools so you can sort and filter these lists to highlight features that matter to you. We’re reader-supported and may be paid when you visit links to partner sites. background-color: #fff; You could reach your savings goal sooner with a Suncorp Growth Saver account thanks to the competitive bonus interest. Suncorp Bank. As part of this process, the company also trimmed its retail network, shutting down a number of redundant branches. Suncorp continued to build up its insurance portfolio into the middle of the decade. How do Suncorp Bank savings accounts compare? } So kudos to them! font-weight: 400; Available on balances Up to $500,000. BANKING Banking Products are issued by Suncorp-Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722 AFSL No 229882. The company wanted to expand, particularly in its more profitable insurance division. In 1999, Suncorp-Metway completed the integration of the Metway, QIDC and Suncorp operations, and launched a single unified Suncorp-Metway brand. when you grow your balance by at least $200 (excluding interest) and make no more than one withdrawal in the month. [6] In the late 1980s, Metropolitan joined the trend among Australia's building societies to expand into being full-scale banks. .hero-rates__header { . The company carried out another rebranding exercise in 2002, adopting the Suncorp name for all of its Queensland operations, and for non-insurance operations outside of the state. Available on balances up to $5,000,000,000. margin-right: 0.5rem; It is one of Australia's mid-size banks (by combined lending and deposits) and its largest general insurance group,[5] formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC). Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia.It is one of Australia's mid-size banks (by combined lending and deposits) and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC).