With the help of a debit card and multiple other access options the Newcastle Permanent Statement Savings Account acts as your everyday banking account. There are no monthly fees to pay, and you still have free access to the account online whenever you need it.
What are the features of the Newcastle Permanent Statement Savings Account?
When looking for a transaction account to take care of your everyday needs, there are a number of qualities that will affect how it fits in with your lifestyle. Compare the individual features of various accounts versus what you find with Newcastle Permanent to help you choose the one that offers the best fit:
- Monthly account keeping fee. You are not charged a monthly fee for the Statement Savings Account.
- Transaction fees. Depending on your monthly fee free allowance, you will receive at least six free for month with this account. More are earned depending on your monthly balance and if you enact automatic transfers for certain payments. After you have exceeded your allowance you will be charged a fee for each transaction of varying amounts depending on the access method used.
- Access methods. Internet, mobile and phone banking are all provided free of charge to help you make your everyday transactions. With this feature you can pay your bills, accept direct deposits into the account and transfer funds. You also have the ability to write cheques and use the linked debit card issued to you to access money at ATMs or make EFTPOS purchases.
- Debit card. Depending on your eligibility you can choose between a Cashcard or Visa debit card to help you access your money.
- Visa debit card. If linked to a Visa debit card, you will get the shopping convenience that the Visa logo provides as well as the ability to make cash withdrawals.
- ATM access. With your linked debit card you can make cash withdrawals at Newcastle Permanent ATMs as well as ATMs in the Westpac Bank, St.George, BankSA and Bank of Melbourne networks.
- Availability. The Statement Savings Account is only available to individuals for personal use.
- Withdrawal limits. Depending on the method you use to make your withdrawals, how much is allowed per day will be limited in amount.
- No ongoing monthly fees
- Easy access to money via linked Visa debit card
- Access to Newcastle Permanent ATMs and over 3,000 Westpac Group ATMs in Australia
- A minimum of 6 free 'Everyday Transactions' each month
How do I apply for the Newcastle Permanent Statement Savings Account?
If you find that this account is able to meet all of your various needs then you can apply online. Newcastle Permanent does require that you are able to meet certain eligibility requirements before you begin:
- Minimum age. You must be 18 years or older to be considered eligible for this account.
- Residency requirements. Only permanent Australian residents are permitted to apply for the Statement Savings account.
- Depository requirements. Newcastle Permanent makes no stipulation for a minimum deposit amount when opening this account.
Newcastle Permanent also recommends that you have the following documentation and information readily available to help in filling out the application:
- Tax file number. Although listed as being an optional requirement, your tax file number (TFN) or exemption code will help to ensure that when withholding tax is deducted from interest earnings, it is at the correct rate.
- Identification. In order to prove your identity you will need to first consent to an identity verification preference and then provide Newcastle Permanent with information found on your driver’s licence or passport.
- Communication. Newcastle Permanent will also ask for your email address and Australian mobile phone number in order to be able to send you information and updates about your accounts.
After submitting your online application to Newcastle Permanent, you will be informed of its receipt and next steps to take. Once all of the details are verified, the account will be set up and you will be sent the account number so that you can begin making deposits and transactions. The linked debit card that you chose will arrive by mail shortly after your application has been accepted and will also need to be activated.