The EasySaver Account from Bendigo Bank does make it easy to save with online and phone banking for free whenever you need it. This is a competitively rated interest earning account that pays into your account monthly to help you further your saving opportunity with compound interest.
What are the features of the Bendigo Bank EasySaver Account?
There is a lot to think about when looking at various accounts to help you in increasing your savings. Look for the account that gives you the most value by comparing the features that Bendigo Bank provides with what you find with other Australian banks:
- Monthly account keeping fees. You will not be charged any monthly or yearly fees for the maintenance of this account.
- Accessibility. This is an at call account that allows you to access your money using internet and phone banking transfers as well as branch transactions.
- Linked account. Having a Bendigo Bank transaction account linked to your EasySaver will make it easier to make deposits and withdrawals free of charge.
- Transaction fees. You are allowed free unlimited transactions online and over the phone and up to two free Bendigo Bank branch withdrawals each month. If you exceed that limit in any month a $1.75 will be deducted from your account per transaction on the first day of the next month.
- Interest rate. A competitive variable rate is applied to your entire balance.
- Interest calculation. The interest is calculated on your daily balance and will be credited to the account each month. This will allow you to earn even more with compound interest.
- Mobile banking. You can download the Bendigo Bank app onto an iPhone or android device and check your balance and make transfers on the go.
- No monthly account service fee
- Competitive interest rate
- Free e-banking transactions
- Only 2 free branch withdrawals p/m
How do I apply for the Bendigo Bank EasySaver Account?
If the simple to use features of the EasySaver Account will help further your financial goals, you can apply online. It should take about ten minutes to complete, but first make sure that you are able to meet the eligibility requirements:
- Minimum age. Applications for this account are accepted for individuals as young as 12 years old.
- Residency requirements. In order to be eligible for the EasySaver you must be an Australian resident with a valid Australian residential address.
- Depository requirements. In order for your account to be activated you will need to make an initial deposit of at least $1.
It will also be helpful to have the following documentation to refer to as you fill out the online application:
- Tax file number. Providing the bank with your tax file number (TFN) or exemption code is not compulsory, but if not, they are required to apply the highest marginal tax rate to your interest earnings.
- Identification. Bendigo Bank recommends using a driver’s licence, passport or Medicare card to help verify your identity.
- Bank account information. In order to link this account to a transaction account you will need to provide the account number and name.
After submitting your application Bendigo Bank will confirm its receipt and inform you if any other information is needed. Once your details have been verified you will be issued the account and can begin making your deposits to help build your savings.