The Multipack S1 account is a straight-forward transaction account for everyday use, offering several money-management options and unlimited access to funds via internet, telephone and mobile-phone banking. BankVic’s range of financial products is exclusive to their members, who typically work in the police force and public, emergency and health sectors.
What are the features of the BankVic Multipack S1?
This account combines easy banking with security: all Visa debit transactions are closely monitored for suspicious activity, whether the customer is in Australia or overseas. Some of the other features of this account include:
No deposit is required
No minimum deposit is required when opening this account.
Access to funds
Access your funds via telephone, online and mobile-phone. The PayAnyone feature allows customers to transfer money using the recipient’s mobile number and/or email address. Of course customers can also use a cheque book or conduct over-the-counter transactions.
Account-holders can process up to 20 free EFTPOS transactions a month and effect up to ten free ATM withdrawals at certain ATMs (Westpac, Bank of Melbourne, St.George or BankSA).
No account keeping fees
This account incurs no management, monthly or annual fees.
Pays some interest
An interest rate of 0.01% p.a. applies to all balances. Interest is calculated daily and paid out in June and December.
You can transfer money easily between BankVic accounts.
If approved, account-holders have access to an overdraft facility to meet short-term financial needs. Approved clients have a credit limit of up to $10,000, but only pay interest on the amount used. This feature is exclusive to members with Multipack S1 or Investor accounts.
BPay and BPay View
These facilities enable customers to make and/or schedule payments online, as well as keep all bills and records of payment in one place.
- No minimum deposit is required when opening this account.
- Incurs no management, monthly or annual fees.
- Unlimited access to funds via internet, telephone and mobile-phone banking.
- PayWave and chip enabled Visa debit card
- $4 overseas ATM withdrawal fee
What you’ll need to know before applying
If you’re interested in opening a Multipack S1 account, you have to become a BankVic member first. Eligibility requirements are simple: you have to work in the police force or in one of the public, health or emergency service sectors. Once membership to the bank is accepted, you can apply for one of their financial products.
Eligibility to apply
- Minimum age. Besides being a confirmed BankVic member, applicants must be 18 years or older.
- Residence. Applicants must prove that they are Australian residents. Read BankVic’s privacy statement if you’re concerned about what happens with your personal details.
- Deposit. An initial deposit is not required when applying for this account.
Documentation for your online application
- Tax File Number. You won’t be forced to supply your tax file number. However, if you choose not to, the relevant tax amount will be deducted from the interest earned.
- Identification. You’ll be asked to supply identification when applying for membership to BankVic, and then again when opening the Multipack S1 account. Your Australian passport and driver’s licence will be accepted. Your identity is confirmed by signature comparison when conducting certain transactions.
- Additional security. You can also apply for a keyword or Rapid Response Access Code for extra security for telephone transactions. An online banking password will secure activity when using a computer or mobile phone.
What happens after I've submitted the application?
Once you’ve submitted, BankVic will send you a reference number to keep track of your application. If you’re applying online and don’t have time to finish, you can save a copy of your application to complete later.