BankVic’s Ezepac is two accounts in one, seamlessly linking your savings and transactions accounts together. The S20 account takes care of your everyday financial needs by providing you with easy access to your cash, while the S21 holds onto your spare funds and pays you interest on the balance every month. You also have the opportunity to earn even more money when you meet certain terms and conditions each month.
What are the features of the BankVic Ezepac S20/S21?
Consider these features carefully to decide if the BankVic Ezepac account is right for you.
$0 Monthly service fee
There is no account service fee for the Ezepac S20/21.
A range of available transactions
With the Ezepac transactions account, you can bank online, over the phone or at a branch. You can also make ATM and EFTPOS transactions.
Linked Visa debit card
Your transaction account will be linked to a Visa debit card which can be used to make ATM withdrawals and EFTPOS or online purchases.
$0 ATM transaction fees for withdrawals over $100
All withdrawals of $100 or more are free of charged. If you do incur an ATM operator fee, BankVic will refund the money back into your account at the end of the billing cycle. For withdrawals under $100, you will be charged $1.80 per transaction when using Westpac, Bank of Melbourne, St.George and BankSA ATMs. Other operating charges will apply when using an ATM outside of this network.
Visa cash advance withdrawals
You are permitted four Visa cash advance withdrawals per month for free. Once you reach this limit you will be charged a $4 fee per transaction. This includes any withdrawals made using an ATM overseas.
Cheque withdrawal fees
You are charged $1 for each cheque withdrawal from the account.
Phone assisted withdrawals are charged $2 per transaction. You are permitted up to four free over the counter withdrawals before you will be charged $2 per each one.
Under 18s don't pay transaction fees
All account holders under the age of 18 will be exempt from any transaction fees.
You receive interest on this transaction account
Balances of up to $0 will receive a competitive interest rate. For those above this margin the interest rate will drop slightly. Interest is calculated on the daily balance and will be paid into the account each monthly. For months where no withdrawals are made from the Ezepac savings account you will earn bonus interest added to the base rate. You can compare other BankVIC products and services here.
- No monthly account fees
- Electronic transfers
What you’ll need to know before applying
You can apply for the Ezepac S20/S21 by visiting a branch, calling BankVic or by visiting their website to complete an online application. If you are not already a member of BankVic you will need to apply for your membership first.
This mutual bank is exclusive to those working in the police force health care, emergency assistance or public service industries. You can also apply if you are related to an individual in one of these industries or if you live within 5 kilometres of a BankVic branch. Other eligibility requirements to consider before applying for this account include:
Eligibility to apply online
Other eligibility requirements to consider before applying for this account include:
- Minimum age. This account is available to members of any age.
- Residency requirements. Only Australian residents are permitted to apply for the Ezepac accounts.
- Depository requirements. There is no minimum deposit required to open the account, but if you are also applying for membership you will have to buy ten member shares at $1 each.
Documentation to apply online
If you meet these requirements, you can proceed with the application. Make sure you also have the following documentation readily available:
- Tax file number. Your tax file number (TFN) is used to ensure that withholding tax is being applied to your interest earnings at the correct rate.
- Identification. If applying for membership to BankVic you will be asked for information found on your driver’s licence or passport.
It is important to note that while these are two separate accounts, you must hold both of them at the same time. They will be linked together so that you can easily transfer money from one account to the other.