Bendigo Bank Ultimate Account

Bendigo Bank Ultimate Account

Fee Free Deposit

0

Account Keeping Fee

0.00

Take advantage of complete access to your account with low fees and rewards for being a loyal customer.

  • No monthly account service fee
  • Internet and phone banking anywhere, anytime
  • Options for transaction fees rebates

Product details

With the Bendigo Bank Ultimate Account you get a comprehensive transaction account that provides you with around the clock access to your money and multiple ways to take care of your financial needs. A fee rebate is a part of the plan providing you with a way to save money on your transactions each month, and if you have multiple accounts with Bendigo Bank you can earn even more.

This product is no longer available for new applications

Please refer to Bendigo Bank Comparison page for a list of other options. Existing account holders will not be affected by this change.

What are the features of the Bendigo Bank Ultimate Account?

The way in which a transaction account is structured and its individual features are important in determining if it is right for you. Compare different accounts from other banks with this one to make sure that it has everything you need to take care of your daily financial needs:

  • Monthly account keeping fees. There are no monthly fees with this account.
  • Transaction methods. With the Ultimate Account you are able to transact online and over the phone, using features such as transfers, BPAY and Pay Anyone. You are also issued your choice of a linked debit card which allows you to make purchases and withdrawals directly from your account.
  • Linked debit card. Bendigo Bank allows you to choose between a Bendigo Blue Debit Mastercard or an Easy Money ATM card to help with accessing your account.
  • Bendigo Blue Debit Mastercard. If you choose the debit Mastercard, you will be charged $3 a month for its use. Yet with this card you are able to make purchases and withdrawals at any location where Mastercard is accepted. This includes online and over the phone shopping. This option is only available for account holders aged 16 and older.
  • Transaction rebates. A $4 fee rebate is provided to you each month to offset the cost of transaction fees. The more banking you do with Bendigo, the higher the rebate they will provide you. If you have a home loan with Bendigo Bank you will not pay any of the eligible transaction fees for the Ultimate Account.
  • Transaction fees. Transactions that are eligible for the fee rebate include electronic banking such as BPAY and transfers as well as EFTPOS and ATM withdrawals.
  • Overseas ATM use. You can use your linked debit card to make ATM transactions overseas, but the fees incurred are not eligible for the rebate. Your account will be charged $5 for each withdrawal and $1.50 per enquiry.

Pros

  • No monthly fee
  • Flexible account
  • Linked MasterCard

Cons

  • Fees apply to almost all transactions

How do I apply for the Bendigo Bank Ultimate Account?

If the features of the Ultimate Account meet all of your needs, you can begin an application online by visiting the Bendigo Bank website. It should take about 10 minutes to complete, but you should know the eligibility requirements before getting started:

  • Minimum age. Individuals above 12 years old are eligible to apply for this transaction account although those under 16 will not be eligible for the Bendigo Blue Debit Mastercard.
  • Residency requirements. All account holders must be Australian residents with an Australian residential address.
  • Depository requirements. In order for the account to be opened you must make an opening deposit of $1.

You will be asked for specific information on the application that will be used in the processing. Having the following documentation will make it easier to answer those questions accurately:

  • Tax file number. Providing your tax file number (TFN) or exemption code is not mandatory, but it does help in making sure that any withholding taxes are being calculated at the correct rate.
  • Identification. All account owners must first be able to verify their identity. This can be done with information that is found on your Australian passport, driver’s licence, or Medicare card.

After confirming the information provided on your submitted application, Bendigo Bank will contact you with the details of your new transaction account. Your chosen debit card will be sent to you through the Australian post and will also have to be activated once in your possession.

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2 Responses

  1. Default Gravatar
    GaryJune 27, 2016

    I am traveling to Penang I will making ATM withdraw what are the fees

    • Staff
      ClarizzaJune 27, 2016Staff

      Hi Gary,

      Thanks for your comment.

      International ATM withdrawals for the Bendigo Bank Ultimate Account incurs a $5 fee. In addition, a 2% foreign transaction fee applies. We are a comparison website and as such, can provide general advice only. For more specific information, please contact Bendigo direct.

      Hope that helps.

      Clarizza

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