Australian superannuation firms HOSTPLUS and AustralianSuper have reportedly launched own-brand debit cards in association with ME Bank.
HOSTPLUS’ debit card will be solely branded with the super fund’s logo, whereas AustralianSuper’s will be dual branded with ME Bank, according to Financial Standard.
HOSTPLUS has been advertising the account by sending flyers to its members, while AustralianSuper’s new members are offered the account when they sign up.
"An initial trial promotional period has now finished, and the fund is now analysing the results and considering how to proceed," the publication quoted a spokesperson of AustralianSuper as saying.
A spokesperson for HOSTPLUS told Business Standard that the initiative had made "a promising start", but refused to comment further.