BDCU Alliance Bank Concession Account

Product details

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.

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.

Product Name: BDCU Alliance Bank Concession Account

Monthly Account Fee: $0

Debit Card Access: Visa

ATM Withdrawal Fee: $0

Details: $0 account keeping fees. Choose a Visa Debit or rediCARD. Unlimited free withdrawals at rediATMs when using your rediCARD.

Fee Free Deposit p.m.: $0

Overseas ATM Withdrawal Fee: $5

Overseas Eftpos Fee: 3%

Phone Banking: Yes

Fees: $0

Internet Banking: Yes

What are the features of the BDCU Alliance Bank Concession Account?

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.

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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

What you’ll need to know before applying

If you think the BDCU Alliance Bank Concession Account might be the ideal transaction account to help you manage your everyday finances, click one of the “Apply Now” links on this page. You will be securely redirected to the BDCU Alliance Bank website where you can find more information about the account and also access an application form.

Application options

There are three ways you can apply for a Concession Account:

Download a form. An application form is available for download from the BDCU Alliance Bank website. You can lodge your completed form by visiting your nearest BDCU Alliance Bank Advice Centre, or send it in via post or fax.

Visit an Advice Centre. Visit your local BDCU Alliance Bank branch if you’d like to receive personalised advice about how to open an account.
Apply over the phone. The third option is to phone BDCU Alliance Bank and speak to a customer service representative who can guide you through the application process from start to finish.

Documentation needed

If you’re a new customer, you’ll need to provide proof of identification so that BDCU 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 criteria

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.