SMSF and USA Bank Accounts?

For those if you who are investing in USA Properties within your SMSFs, you’ll understand that the SIS Act is very strict with compliance and there are only selected banks that you can open an account with for your SMSF. These banks must be regulated and approved by Australian Prudential Regulation Authority (APRA), and a full list of valid banks are listed here. In particular for USA bank accounts – see the headings below of Foreign Subsidiary Banks and Branches of Foreign Banks.

List of Authorised Deposit-taking Institutions

The institutions listed on this page are regulated by APRA in accordance with the Banking Act 1959.
This list was last updated on 14 February 2014.
  • Australian-owned Banks
  • Foreign Subsidiary Banks
  • Branches of Foreign Banks
  • Building Societies
  • Credit Unions
  • Other ADIs
    including

    • Specialist Credit Card Institutions
    • Providers of Purchased Payment Facilities
  • Authorised Non-Operating Holding Companies

Australian-owned Banks
  • AMP Bank Ltd
  • Australia and New Zealand Banking Group Limited
  • Bank of Queensland Limited
  • Bendigo and Adelaide Bank Limited
  • Commonwealth Bank of Australia
  • Community CPS Australia Limited (trading as Beyond Bank Australia)
  • Defence Bank Limited
  • Heritage Bank Limited
  • Macquarie Bank Limited
  • mecu Limited (trading as bankmecu)
  • Members Equity Bank Pty Limited
  • National Australia Bank Limited
  • Police Bank Ltd
  • Police Financial Services Limited (trading as BankVic)
  • Police & Nurses Limited (trading as P&N Bank)
  • QT Mutual Bank Limited
  • Rural Bank Limited (a subsidiary of Bendigo and Adelaide Bank Limited)
  • Suncorp-Metway Limited
  • Teachers Mutual Bank Limited
  • Victoria Teachers Limited (trading as Victoria Teachers Mutual Bank)
  • Westpac Banking Corporation

Foreign Subsidiary Banks
  • Arab Bank Australia Limited
  • Bank of China (Australia) Limited
  • Bank of Sydney Ltd
  • Citigroup Pty Limited
  • HSBC Bank Australia Limited
  • ING Direct (the trading name of ING Bank (Australia) Limited)
  • Investec Bank (Australia) Limited
  • Rabobank Australia Limited

Branches of Foreign Banks
  • Banco Santander, S.A.
  • Bank of America, National Association
  • Bank of Baroda
  • Bank of China Limited
  • Bank of Communications Co., Ltd.
  • Bank of Scotland plc
  • Barclays Capital (the trading name of Barclays Bank PLC)
  • BNP Paribas
  • BNP Paribas Securities Services
  • China Construction Bank Corporation
  • Citibank, N.A.
  • Credit Suisse AG
  • Deutsche Bank Aktiengessellschaft
  • First Commercial Bank
  • Hua Nan Commercial Bank, Ltd
  • Industrial and Commercial Bank of China Limited
  • ING Bank N.V.
  • JPMorgan Chase Bank, National Association
  • Korea Exchange Bank Co., Ltd
  • Lloyds Bank plc
  • Mega International Commercial Bank Co., Ltd.
  • Mizuho Bank, Ltd.
  • Oversea-Chinese Banking Corporation Limited
  • Portigon AG
  • Rabobank Nederland (the trading name of Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.)
  • Royal Bank of Canada
  • Standard Chartered Bank
  • State Bank of India
  • State Street Bank and Trust Company
  • Sumitomo Mitsui Banking Corporation
  • Taiwan Business Bank
  • Taiwan Cooperative Bank, Ltd
  • The Bank of New York Mellon
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd
  • The Hongkong and Shanghai Banking Corporation Limited
  • The Northern Trust Company
  • The Royal Bank of Scotland N.V.
  • The Royal Bank of Scotland plc
  • UBS AG
  • United Overseas Bank Limited
  • Woori Bank

Building Societies
  • B & E Ltd
  • Big Sky Building Society Limited
  • Greater Building Society Ltd
  • Hume Building Society Ltd
  • IMB Ltd
  • Maitland Mutual Building Society Limited
  • Newcastle Permanent Building Society Limited
  • The Rock Building Society Limited
  • Wide Bay Australia Ltd

Credit Unions
  • Allied Members Credit Union Ltd
  • Australian Central Credit Union Ltd (trading as People’s Choice Credit Union)
  • Australian Defence Credit Union Limited
  • AWA Credit Union Limited
  • Bananacoast Community Credit Union Ltd
  • Bankstown City Credit Union Ltd
  • Berrima District Credit Union Ltd
  • CAPE Credit Union Limited
  • Central Murray Credit Union Limited
  • Central West Credit Union Limited
  • Circle Credit Co-operative Limited
  • Coastline Credit Union Limited
  • Collie Miners Credit Union Ltd
  • Community Alliance Credit Union Limited
  • Community First Credit Union Limited
  • Community Mutual Ltd
  • Country First Credit Union Ltd
  • Credit Union Australia Ltd
  • Credit Union SA Ltd
  • Dnister Ukrainian Credit Co-operative Limited
  • ECU Australia Ltd
  • EECU Limited
  • Encompass Credit Union Limited
  • Family First Credit Union Limited
  • Fire Brigades Employees’ Credit Union Limited
  • Fire Service Credit Union Limited
  • Firefighters & Affiliates Credit Co-operative Limited
  • First Choice Credit Union Ltd
  • First Option Credit Union Limited
  • Ford Co-operative Credit Society Limited
  • Gateway Credit Union Ltd
  • Goldfields Money Limited
  • Goulburn Murray Credit Union Co-operative Limited
  • Heritage Isle Credit Union Limited
  • Holiday Coast Credit Union Ltd
  • Horizon Credit Union Ltd
  • Hunter United Employees’ Credit Union Limited
  • Intech Credit Union Limited
  • Laboratories Credit Union Limited
  • Latvian Australian Credit Co-operative Society Limited
  • Lithuanian Co-operative Credit Society “Talka” Limited
  • Lysaght Credit Union Ltd
  • MacArthur Credit Union Ltd
  • Macquarie Credit Union Limited
  • Manly Warringah Credit Union Limited
  • Maritime, Mining & Power Credit Union Limited
  • MCU Ltd
  • My Credit Union Limited
  • MyState Financial Limited
  • Newcom Colliery Employees Credit Union Ltd
  • Northern Inland Credit Union Limited
  • Nova Credit Union Limited
  • Old Gold Credit Union Co-operative Limited
  • Orange Credit Union Limited
  • Police Credit Union Limited
  • Pulse Credit Union Limited
  • Qantas Staff Credit Union Limited
  • Quay Credit Union Ltd
  • Queensland Country Credit Union Limited
  • Queensland Police Credit Union Limited
  • Queensland Professional Credit Union Ltd
  • Queenslanders Credit Union Limited
  • Railways Credit Union Limited
  • Select Credit Union Limited
  • Service One Credit Union Limited
  • SGE Credit Union Limited
  • Shell Employees’ Credit Union Limited
  • South West Slopes Credit Union Ltd
  • Southern Cross Credit Union Ltd
  • South-West Credit Union Co-Operative Limited
  • Summerland Credit Union Limited
  • Sutherland Credit Union Ltd
  • Swan Hill Credit Union Limited
  • Sydney Credit Union Ltd
  • The Broken Hill Community Credit Union Ltd
  • The Capricornian Ltd
  • The Gympie Credit Union Ltd
  • The University Credit Society Limited
  • Traditional Credit Union Limited
  • TransComm Credit Co-operative Limited
  • Transport Mutual Credit Union Limited
  • Warwick Credit Union Ltd
  • WAW Credit Union Co-Operative Limited
  • Woolworths Employees’ Credit Union Limited
  • Wyong Shire Credit Union Ltd

Other ADIs
One ADI that provides general banking services which does not fall into the above categories:
  • Cairns Penny Savings & Loans Limited
These companies provide services (e.g. payments clearing) to building societies and credit unions:
  • Australian Settlements Limited
  • Cuscal Limited
  • Indue Ltd

Specialist Credit Card Institutions (SCCIs)
Foreign-owned SCCIs
Locally Incorporated SCCIs

Providers of Purchased Payment Facilities

Authorised Non-Operating Holding Companies
(authorised under subsection 11AA(2) of the Banking Act 1959)

Source: http://www.apra.gov.au/adi/pages/adilist.aspx

 

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