iCare Super does not have any restriction on any bank accounts.
You can choose your preferred banks, financial institutions or credit unions to open an bank account for your SMSF.
We recommend that you should open an bank account for your SMSF immediately after your SMSF is officially set up.
How can you open an SMSF bank account?
Normally, banks and financial institutions will require the following to open the bank account for your SMSF:
What banks should you choose for your SMSF?
You should consider the following factors for opening the bank account for your SMSF:
From our experience, we have seen most of our clients have chosen ANZ bank as their favorite SMSF bank.
What benefits will you enjoy when you choose ANZ V2 Plus Account?
Please note ANZ V2 Plus account can not be opened from ANZ branches. You only can open it by intermediaries, such as iCare Super.
What will you need to provide to us if you want to help open the bank accounts for your SMSF:
We will then send you the SMSF bank account application form to you to sign and the SMSF bank account will be ready in 1-2 business days.
What is the daily limit on ANZ V2 Plus Account?
The daily limit on ANZ Internet Banking is $25K, which unfortunately cannot be increased any further due to in-built fraud & security controls.
Clients wanting to move larger sums of money can either call our call centre for an over the phone withdrawal (up to $1M) on 13 28 33 or submit an EFT withdrawal request to our back-office (same day turnaround if received before 11am).
Link to ANZ V2 EFT withdrawal form: https://www.anz.com.au/content/dam/anzcomau/documents/pdf/v2-plus-eft-withdrawal.pdf