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Our verdict

There’s no monthly account keeping fee with the Everyday Account.

This account could be suited to customers with a Newcastle Permanent home loan, as you'll pay no account keeping fees and you can use this as an offset account against your loan. If you like to bank in branches, keep in mind that most of Newcastle Permanent’s bank branches are within the Newcastle region.

Pros

No account keeping fee
Can choose the colour of your debit card
Can use the account to offset a Newcastle Permanent home loan

Cons

International transaction fee applies
$5 overseas ATM withdrawal fee

The Newcastle Permanent Everyday Account is a transaction account designed for day-to-day spending, or to use as an offset account against your Newcastle Permanent home loan.

Details

Key details

Product Name	Newcastle Permanent Everyday 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

Eligibility

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

Key features

No Monthly account keeping fees

This account has no monthly account keeping fees.

Access thousands of ATMs for free

You can make unlimited free ATM withdrawals at Newcastle Permanent ATMs. You can also make free ATM withdrawals at all ATMs owned by CommBank, westpac, ANZ or NAB.

Making deposits

You can deposit money into the account using direct credit or deposit, over the counter at a branch, or account transfers using mobile, internet and phone banking.

Withdrawing money

There are several ways to withdraw your money or making payments allowed with this account. These include; ATM, EFTPOS, branch counter transactions, Internet banking, phone and mobile banking, BPAY, Pay Anyone and direct debits.

Visa Debit card

You are given the option of a cashcard or Visa Debit Card. With your transaction account linked to a Visa Debit Card, you can make withdrawals and purchases wherever Visa is typically accepted in stores and online. You also get to choose the colour of your debit card.

Use the account to offset your loan

If you also have a home loan with Newcastle Permanent, you may use the balance for this account for a partial or 100% loan offset depending on the type of home loan you have.

Foreign currency conversion

For transactions that require the currency to be converted to the Australian dollar you will be charged 2% of the transaction total.

Account limits

There are limits to how much Newcastle Permanent will allow to be withdrawn from the account daily, depending on the method used. For branch, ATM and EFTPOS cash withdrawals that limit is set to $1,000. When making online transfers the limit is $2,000 combined for all accounts in your name. For Visa debit card purchases you are limited to spending $10,000 daily, and if you choose a cashcard you will be limited to $3,000.

How to apply

Eligibility

It should take only ten minutes to complete. There is no need to become a member first before applying for the account. There is other eligibility criteria you will need to meet that includes:

Minimum age. Applicants must be at least 18 years of age (or 16 with parent's consent).
Residency requirements. Only Australian permanent residents or citizens are eligible for this account.

Depository requirements. No opening balance requirement is necessary, but in order to take advantage of fee free banking you will need to deposit at least into the account each month.

Documentation needed

In order to make filling out the application easier, it will be helpful to have the following documentation available:

Tax file number. Providing your tax file number (TFN) or exemption code is not mandatory but it will be used to determine the right withholding tax to apply to any of your interest earnings.
Identification. Information from your driver's license or passport can be used to help confirm your identity.

What happens after I submit my application?

After submitting your application you will receive an automatic confirmation email. You will then be asked to sign and return the application form so that your new account can be activated and debit card mailed to your address.

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Nicole

October 12, 2023

Can I withdraw cash from my account using my wallet or cardless cash

Angus Kidman Finder

October 18, 2023

Newcastle Permanent currently does not offer cardless cash from ATMs, but does let you make payments via its mobile app. Hope this helps.

Wal

August 29, 2018

Is there a limit on the amount of an eftpos transaction, for buying a car for example?

Joshua Finder

August 30, 2018

Hi Wal,

Thanks for getting in touch with finder. I hope all is well with you. :)

Yes, there’s a limit to EFTPOS usage. It’s set to $1,000. The same is true for branch and ATM withdrawals.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!

Cheers,

Joshua

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Newcastle Permanent Everyday Account

Pros

Cons

Key features

No Monthly account keeping fees

Access thousands of ATMs for free

Making deposits

Withdrawing money

Visa Debit card

Use the account to offset your loan

Foreign currency conversion

Account limits

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Your reviews

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