MISA or offset?

Was wondering now with CBA having an offset account (which I recently opened) should I move the monies from MISA to offset account instead?
 
The offset functions better - you can transact in/out from it without hassle.

However, the MISA has its place - it can be good for those who prefer to keep their savings a bit further out of reach.

Cheers

Jamie
 
The new offset account is far superior to the MISA, so if you're looking at switching over to using the offset as your primary savings/transaction account move it over.
 
The new offset account is far superior to the MISA, so if you're looking at switching over to using the offset as your primary savings/transaction account move it over.

Yes that was my thinking as the MISA is not really a transaction account.

Just wondering if there are any tax issues when moving the monies from the MISA to offset? I have never actually used the MISA account for any transactions yet.
 
teh new offset is NOT superior... as Jamie M mentioned, the MISA works well if you want to ensure your savings are more unreachable in comparison to a offset accoutn which could also be linked to a keycard. I use both. MISA for bulk savings, everydya offset with samll balances to maximise itnerest sacing
 
I currently have a MISA and it only offsets by about 15% (I think) as its on a fixed rate, would this be the same case for an offset?
When I opened the MISA I was told that it was an offset account, can someone please explain the difference for me?
 
I currently have a MISA and it only offsets by about 15% (I think) as its on a fixed rate, would this be the same case for an offset?
When I opened the MISA I was told that it was an offset account, can someone please explain the difference for me?

If it were variable it would offset the entire loan amount.

Cheers

Jamie
 
I currently have a MISA and it only offsets by about 15% (I think) as its on a fixed rate, would this be the same case for an offset?
When I opened the MISA I was told that it was an offset account, can someone please explain the difference for me?

Run some sums, might find you're better off having the funds in a online saver earning you interest.

Ideally you want against a variable so 100% offset
 
teh new offset is NOT superior... as Jamie M mentioned, the MISA works well if you want to ensure your savings are more unreachable in comparison to a offset accoutn which could also be linked to a keycard. I use both. MISA for bulk savings, everydya offset with samll balances to maximise itnerest sacing

New offset is superior.

MISA can still be linked to cards, but isn't transactional with withdraw limits and no direct credits or debits.

EDO is transactional and you can have multiple.

But agree it's not needed for everyone, those who don't want to pay $95 don't have to. But really it's so much better.
 
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