Vision Super has emerged as one of the first superannuation funds to take advantage of a service developed by Cuscal that allows Vision SuperVantage account holders to access their allocated pension funds by using Visa debit cards, automatic teller machines, B-Pay and Internet banking.
The service was brought to market by Cuscal last year and has proved attractive to superannuation funds because Cuscal makes clear that the super funds retain ownership of the client.
Vision Super and Cuscal have marketed the arrangement as a win-win situation, with Cuscal extending its reach as an approved deposit taking institution (ADI) into new superannuation markets while Vision Super can use the new service as part of its member retention strategy.
Commenting on the arrangement, Vision Super chief executive Rob Brooks said the partnership allowed members to keep their money invested in Vision Super’s tax-effective investment funds, while using Cuscal’s banking infrastructure funds and paying their bills.
