SMSF Transaction Account

When you become a client of ESUPERFUND, an ANZ V2 Plus Account is established for your SMSF which will act as the Transaction Account for your SMSF.  The ANZ V2 Plus Account must be used for your SMSF. 

Monitoring Transactions

By using the ANZ V2 Plus as the preferred Transaction Bank Account for our clients, we are able to ensure that our services are provided at a fee significantly below the market.  This is because we are able to electronically access the transactions made by your SMSF in order to attend to the SMSF Annual Compliance Requirements.  That is at the end of each financial year, ANZ will send to ESUPERFUND an annual data file of all your SMSF transactions.  This enables our office to attend to your SMSF's annual compliance obligations.  No bank records are required from you each year as we already have access to the data.  It is important to understand that only electronic data files are provided to ESUPERFUND.  We have absolutely no access to your ANZ V2 Plus Account and cannot actually login to your Bank Account to access the required data. 

Account Establishment

Documentation to establish an ANZ V2 Plus Account is included with the documentation forwarded to you when you submit your online application to establish an SMSF.  This account acts as the Transaction Account for your SMSF allowing you to Rollover your existing super, make contributions, make investments receive income and pay expenses including the accounting and taxation fees.  The ANZ V2 Plus typically takes 1 to 2 weeks to establish from the time the signed application is returned to our office.  Once the account is established ANZ will forward to you directly your SMSF ANZ V2 Plus Bank details including login and password.  For full details of the SMSF Setup Process which includes the ANZ V2 Plus Bank Account establishment click here.

Investments made from ANZ V2 Plus Bank Account

All Investments made by your SMSF must be made directly from the ANZ V2 Plus Account.  For example if you are investing in say a Term Deposit or purchasing a Property, the investment will need to be made from the proceeds in the ANZ V2 Plus Account.  Accordingly prior to making an investment the monies must first be made to the ANZ V2 Plus Account and the Investment in turn made from that account.  This ensures that ESUPERFUND can track all investments made by your SMSF and importantly ensure we can streamline the annual compliance process ensuring our annual fees are kept well under market.

Account Deposits

Deposits into your ANZ V2 Plus Account can be made in any of the following ways:

At any ANZ Bank Branch
Mailing deposit cheques to: ANZ Bank at Locked Bag 3000 Collins Street West, Melbourne VIC 8007.
Internet Transfers

Account Withdrawals

Withdrawals from your ANZ V2 Plus Account can be made in any of the following ways:

Telephone access via ANZ Phone Banking - Phone: 13 13 14
Internet Transfers
BPAY
Direct Debit
Fax Request using our online fax authority that can be found here.

Avoiding Transfer Limits

It is important to understand that electronic transfers have transfer limits that can limit the size of fund transfers to other accounts.  To avoid the "Limit" issue you should use either BPAY or the Fax Authority options to transfer monies to other accounts.  These options have no transfer limits allowing you to transfer monies as required and for larger amounts.

Interest Rates and Fees

The ANZ V2 Plus Account has one of the highest Interest Rates in the market for a full transaction account.  The current Interest Rate can be found here.

Monthly Fees

The ANZ V2 Plus Account has no monthly fees.

Government Guaranteed

Deposit accounts with ANZ balances of up to and including A$250,000 in total are guaranteed by the Federal Government without charge. The guarantee applies to the total balance held in one or more ANZ deposit accounts by each legal entity, up to a maximum amount of A$250,000. For further information please refer to the Financial Claims Scheme http://www.apra.gov.au/FCS.cfm.

Account Queries

If you have any queries about your ANZ V2 Plus Account please contact ANZ Bank directly on 1800 282 345. Please do not contact ESUPERFUND directly in relation to queries about your SMSF ANZ V2 Plus Account as unfortunately we will be unable to assist you with your queries.

Your SMSF is the Owner

The ANZ V2 Plus Bank Account is established in the name of your SMSF.  This is a very important point and gives you total peace of mind that your SMSF is the direct owner of cash that is maintained in that account.   ESUPERFUND do not have any access to this account either directly or indirectly.  So in the very unlikely event we cease to operate or become insolvent all your SMSF assets including cash maintained in your ANZ V2 Plus Account are totally protected and secure because your SMSF is the direct owner of the Assets. 

Only you can transact on the ANZ V2 Plus Account

ESUPERFUND has absolutely no ability to enter or transact on your ANZ V2 Plus Account.  Only you as the SMSF Trustee can login and transact on the Bank Account.  This gives you peace of your mind your Super monies are totally secure.  Please note that ANZ will send to ESUPERFUND an annual data file of all your ANZ V2 Plus Account transactions to enable us to attend to your SMSF's annual compliance obligations.

Avoid Audit Issues

One of the most common errors identified by the ATO is the establishment of Bank Accounts in the Trustees personal name and not in the name the SMSF, resulting in ATO compliance issues.  By establishing the Bank Transaction Account for your SMSF as part of the SMSF Setup process we ensure that the Bank Account is setup correctly.  This ensures that ATO compliance issues and associated penalties are eliminated and that all Bank Accounts setup by ESUPERFUND are compliant with Super Laws.