Summary: Great Southern Bank does not allow the direct investing of stocks on its banking platform. The bank has not announced any plans to add this feature in the foreseeable future. However, there are alternative ways for Aussies to invest in stocks with a Great Southern Bank account.
If you want to buy stocks with a Great Southern Bank account, simply transfer the Australian dollars from your bank to a secure online broker and buy stocks on the platform. There are many secure, regulated and licensed stock brokerage platforms to choose from, but we recommend using eToro.
Can I buy stocks on Great Southern Bank?
No, unfortunately the Great Southern Bank does not offer stock investing directly through its platform. To buy stocks in Australia with a Great Southern bank account you will need to use a safe and reputable stock brokerage platform. In Australia, there are many platforms to choose from including eToro, SelfWealth and Interactive brokers.
However, the best place to buy stocks in Australia is through the eToro exchange. eToro is a multi-asset investing platform and is widely regarded as the most secure brokerage in Australia. eToro Australia (ABN 66 612 791 803) is a holder of an Australian Financial Services Licence (AFSL), number 491139 issued by the Australian Securities and Investments Commission (ASIC).
How to buy Stocks with Great Southern Bank in Australia
The most affordable and secure way to purchase stocks in Australia with a Great Southern Bank account is through eToro Australia. Great Southern Bank account holders can deposit Australian dollars onto eToro via credit & debit card, bank transfer, POLi, Skrill, PayPal & Neteller. Follow the steps below to get started.
- Sign up to the eToro exchange and complete the questionnaire.
- Select 'Deposit Funds', choose a method and send AUD from your Great Southern Bank account to eToro.
- Search for the asset you want to purchase in the search bar and tap 'Trade'.
- Input the amount of AUD you wish to invest and select 'Set Order'.
Is it expensive to buy stocks with Great Southern Bank?
Not at all, especially if you use the eToro exchange as the platform doesn't charge any hidden admin or account fees. eToros pricing is transparent and minimal, you can refer to the list below for a break down of eToros Fees.
- Deposit Fee: Free for Australian investors.
- Withdrawal Fee: $5AUD per withdrawal, free for Platinum & Diamond members.
- Trading (Brokerage) Fee: 0% commissions on stocks and ETFs, 1% for cryptocurrencies.
- Foreign Exchange (FX) Fee: 50 - 150 PIPs.
- Inactivity Fee: After 12 months with no login activity, a $10 monthly inactivity fee will be charged.
What is Great Southern Bank
The Great Southern Bank (formerly Credit Union Australia) is the largest customer-owned bank in Australia with over 420,000 Australian customers. The mutual bank is based in Brisbane and has 40 branches across Australia. It offers a variety of products and services including online banking, home loans, personal loans, credit cards, savings accounts and much more.