BDCU Alliance Bank Concession Account

If you receive an Australian Government pension, the BDCU Alliance Bank Concession Account offers easy, fee-free everyday banking.

If you rely on a pension for your income, it’s essential that you can find an affordable and easy way to manage your finances from day to day. The BDCU Alliance Bank Concession Account is an everyday transaction account designed for just that purpose. Available to people receiving an Australian Government pension, the account offers fee-free banking and the flexibility of a variety of access methods.

Alison Banney

Last Updated Dec 31, 2020

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

Overseas transaction fee

of transaction value

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product Name	BDCU Alliance Bank Concession Account
Monthly account fee	$0
Card access	Visa
ATM Withdrawal Fee	$0
International ATM Fee	$5 + 3%
International transaction fee	3%
Monthly deposit required to waive account fee	N/A
Contactless Payments	Google Pay, Apple Pay, Samsung Pay

Joint account availability	Yes
Minimum opening deposit	N/A

Pros

No monthly fees
No minimum balance requirement
Provides at-call access to your funds
Free rediATM access

Cons

Fees may apply to withdrawals made from other ATMs
Only available to pensioners

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

There is also no monthly transaction fee attached to the account, and with no minimum balance requirement you can spend your money whenever and however you wish.

Key features

No monthly fees

There is no monthly transaction fee attached to the BDCU Alliance Bank Concession Account.

No minimum balance requirement

There are no minimum opening or ongoing balance requirements attached to this account. This means you can spend your funds whenever you want and without having to worry about maintaining your balance at a certain level.

Funds available at call

The BDCU Alliance Bank Concession Account is an everyday transaction account that provides at-call access to your funds, allowing you to spend the money in your account or withdraw cash whenever the need arises.

Choice of card access

You can choose a Visa Debit card or a rediCARD for this account. To withdraw funds from your account fee-free use a rediCARD at any ATM in the rediATM network. Fees may apply to withdrawals made from other ATMs.

Wide range of access options

As well as ATM withdrawals, the funds in your Concession Account can also be accessed in a variety of other ways, including via Internet and phone banking, and unlimited free branch deposits and withdrawals.

Optional chequebook available

You also have the option of obtaining a chequebook if you would like to write cheques from your Concession Account.

Availability

The BDCU Alliance Bank Concession Account is available to bank members who are in receipt of an Australian Government pension. This pension must be deposited into the account on a regular basis.

Launch savings calculator

How to apply

Alliance Bank can confirm you are who you claim to be. You will be asked to present a valid form of photographic ID, such as a passport or driver's licence, before your account can be opened, while you will also need to provide proof that you are in receipt of a government pension.

Eligibility

Before you apply for a BDCU Alliance Bank Concession Account, check that you satisfy the following eligibility criteria:

Pension requirements. This account is only available to bank members who are in receipt of an Australian Government pension, which must be deposited into the account on a regular basis. If the required pension deposit is not received for a period in excess of 30 days, your Concession Account will be closed and automatically transferred to a BDCU Alliance Bank FLEX Account.
Residency requirements. You will need to be an Australian resident to apply for an account.

The BDCU Alliance Bank Concession Account provides an affordable and convenient way for you to manage the income from your government pension. However, make sure you compare its features with the benefits of other everyday transaction accounts before choosing an account.

Banking

Investments

Banks

BDCU Alliance Bank Concession Account