Retention Money Trust

Head contractors working on projects with a value of at least $20m in NSW and are required by law to hold retention money in trust.
Category: Trust Accounts  Last Updated April 2, 2026  Effective June 3, 2026

 General Lending Rates

No product information is currently listed. Please make contact with us for more information.

 Product Features

  • Bill Payment
  • Digital Banking
  • Npp Payid
  • Npp Enabled
  • Other Additional Information: Minimum opening amount of $1.
  • Other Additional Information: No monthly service fee.

 Product Eligibility

  • Business Additional Information: Required to hold a trading account with Bendigo Bank to re-direct fees

 Bank Fees and Charges

  • Bpay Withdrawal (Transaction), Amount: 0.400000.
  • E-banking Internal Transfer (Transaction), Amount: 0.400000.
  • Phone Banking Transfer (Transaction), Amount: 0.400000.
  • E-banking Pay Anyone Transfer Incl. Osko (Transaction), Amount: 0.400000.
  • Branch Cash Withdrawal (Transaction), Amount: 1.750000.
  • Branch Transfer (Transaction), Amount: 1.750000.
  • Agency Withdrawal (Transaction), Amount: 1.750000.
  • Collection Item (Transaction), Amount: 0.700000.
  • Eftpos Withdrawal (Transaction), Amount: 0.700000.
  • Cheque Withdrawal (Event), Amount: 0.700000.
  • Bank Cheque Withdrawal (Event), Amount: 10.000000.
  • Eft Credit Transfer (Event), Amount: 4.000000.
  • Periodical Payment By Cheque (Event), Amount: 3.750000.
  • Periodical Payment To Other Financial Institution (Event), Amount: 3.750000.
  • Cheque Withdrawal (Withdrawal), Amount: 0.700000. Additional Information: This fee will continue to be charged where the bank is notified that all customers of the account are deceased, as a service will continue to be performed. Existing Accounts Only. Cheque Facilities and Cheque books not available on new accounts opened from 1 August 2023.

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