Bendigo Bank Community Choice Partners Account

Bendigo Bank Community Choice Partners Account

Maximum Variable Rate

1.20

Standard Variable Rate

1.20

Consider opening the Bendigo Community Choice Partners Account if you have a formal relationship with this bank.

  • Available for selected organisations: Royal Children's Hospital Foundation, Scouts Australia, Royal Botanic Gardens Foundations and Oxfam Australia
  • No monthly account fees and no eligible transaction fees
  • Funds available at call

Product details

Businesses that have formal relationships with Bendigo Bank can consider opening the Bendigo Bank Community Choice Partners Account. This account offers convenience through different transaction channels, including cheques. It does not attract any ongoing account keeping fees and money in the account stands to earn competitive interest. You cannot open this account for personal use.

Product Name
Bendigo Bank Community Choice Partners Account
Maximum Variable Rate
1.20% p.a.
Standard Variable Rate
1.20% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$0
Minimum Opening Deposit
$0
Minimum monthly deposit for bonus interest rate
$0
Internet Banking
Yes
Phone Banking
Yes

What are the features of the Bendigo Bank Community Choice Partners Account?

  • Current eligible partners. Current eligible partners include Royal Children's Hospital Foundation, Scouts Australia, Royal Botanic Gardens Foundation (Vic) and Oxfam Australia.
  • Fees. You don’t have to pay any monthly account keeping fees and there are no eligible transaction fees to worry about. You may have to pay some fees in different scenarios that can include cheque cancellation fees, cheque dishonour fees and bill payment transaction trace fees.
  • Access to funds. You can access funds in your account in various ways, depending on your eligibility. These include transacting at Bendigo Bank branches, through online and phone banking, as well as via telegraphic transfers and electronic transfers. You can also use the money in your account to pay bills using BPAY and to make bulk payments.
  • Cheque book. You can get an optional cheque book with this account. To qualify for the cheque book you have to have a minimum account opening balance of $300.
  • Making deposits. You can add funds to your account in accordance to your convenience. You can deposit cash or cheques, and you can also add funds using electronic transfers.
  • Overdraft. You can get the bank to link an overdraft facility to your Bendigo Community Choice Partners Account in order to simplify managing your business’ cash flow. This overdraft is subject to approval, which is up to the bank’s discretion. When you overdraw on your account you’ll have to pay the bank’s overdraft indicator rate, and if you cross the approved overdraft limit an over-limit rate applies.
  • Online banking. The bank provides a classic online banking platform that offers full-service banking solutions. You can use this platform to view your account’s balance and its transaction history, you can add payees and transfer funds or make payments, and using the system to make bulk payments is also easy. To bank on the move you can use Bendigo Bank’s mobile banking app. While the app offers limited functionality when compared to the classic version, it lets you make payments and transfers, amongst other things.
  • Phone banking. Details of your Community Choice Partners Account are no more than a phone call away. You can turn to phone banking to order cheque books and statements as well as to transfer funds. For any query left unanswered, you can speak to a Bendigo Bank representative.

Pros

  • No monthly account fees
  • No eligible transaction fees
  • Funds available at call

Cons

  • Need to be an eligible partner

How do I apply for the Bendigo Bank Community Choice Partners Account?

If you wish to open a Community Choice Partners Account you’ll have to get in touch with a Bendigo Bank business banker. You can also submit an online enquiry, which you can do by clicking on the “Go to Site” button. You can get in touch with a Bendigo Bank business banker in the following ways:

  • Speak to one over the phone
  • Send one a direct email
  • Walk into your nearest Bendigo Bank branch
  • Submit an enquiry using the bank’s website

Applying for the account requires that you provide different kinds of information about your business. While you would have to provide its name and contact details, the bank may also require you to provide its Australian Business Number (ABN), or Australian Company Number (ACN) or Tax File Number (TFN). Individuals who will operate as account signatories would have to go through legally required ID checks.

If you plan to switch to Bendigo Bank from your existing bank you can make use of the bank’s Easy Switching process to simplify matters.

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