In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews

BDCU Alliance Bank Concession Account

  • Alison Banney's headshot

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BDCU Alliance Bank Concession Account

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Account keeping fee
$0
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$5
Overseas transaction fee of transaction value
3%

Our verdict

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

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.

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

In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews

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.

Details

Key details

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

Eligibility

Joint account availability Yes
Minimum opening deposit N/A
Residency status Permanent Australian residents with an Australian address

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.

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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.

Your reviews

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Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

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