People's Choice Club 55 Account

People's Choice Club 55 Account

Fee Free Deposit


Account Keeping Fee


People’s Choice members can take advantage of a specialised account just for seniors as long as they’re at least 55.

  • Unlimited free access to 3,400 rediATMs across Australia
  • Designed specifically for people 55 years and over
  • No monthly fee
  • Linked Visa debit card

Product details

Whether you are still active at work, or receiving your pension, People’s Choice Credit Union has the needs of seniors in mind. The Club 55 account is an easily accessible transaction account that allows you to also earn interest on your balance. Plus you get discounts on an array of insurers, helping you to keep more of your money in your account.

Product Name
People's Choice Club 55 Account
Monthly Account Fee
Debit Card Access
ATM Withdrawal Fee
Interest Rate p.a.
No monthly fee with unlimited free rediATM transactions, EFTPOS transactions, Visa purchases, direct debit and BPAY transactions.
Joint Application
Fee Free Deposit p.m.
Overseas ATM Withdrawal Fee
Overseas Eftpos Fee
Phone Banking
Internet Banking

What are the features of the People’s Choice Club 55 Account?

For Australians who have reached retirement age, there is a lot to think about when managing your money. Compare features of transaction accounts geared for seniors between various banks against People’s Choice account to ensure that you are getting the best value for your time and money:

  • Availability. This account is designed for Australians aged 55 and older, with no stipulations for whether you are still working, retired or on a pension.
  • Membership. All People’s Choice accounts are only available for members of the credit union. There are no residency or employment qualifications that you have to meet in order to become a member, and the fee for your share will be $2.
  • Monthly fees. Account holders are not charged any monthly fees.
  • Joint account. Only one member needs to meet the age requirement if you are applying for a joint account.
  • Transaction methods. You are able to access your account using ATMs, EFTPOS, Visa debit card, direct debit, direct credit, BPAY, at a branch or with Bank@Post.
  • Linked Visa debit card. Make purchases and withdrawals using a Visa debit card that draws the funds directly out of your account.
  • Visa payWave. Your Visa debit card is equipped with payWave, allowing you to make purchases of under $100 without having to swipe your card.
  • ATM access. You are given unlimited free use of rediATMs across Australia to make withdrawals and balance enquiries. If you use your Visa debit card outside of this network you will be charged $0.25 per withdrawal in addition to any provider charges.
  • Interest rates. The interest rate is applied to the entire balance, and is tiered to give you a higher rate of return for having more money in your account.
  • Interest calculation. The interest is calculated on your daily balance and paid into the account once a month
  • Insurance discounts. Account holders are able to receive discounts on their insurance needs, including those for home and contents, motor vehicles and travelling.


  • No monthly administration fee
  • Unlimited free rediATM transactions, EFTPOS transactions, Visa Debit card ‘credit’ purchases, direct debits, BPAY transactions
  • Unlimited, free access to 3,400 rediATMs across Australia


  • Minimum age criteria applies
  • 3% international transaction fees apply
  • $5 overseas ATM withdrawal fee
  • Only available if you're over 55

How do I apply for the People’s Choice Club 55 Account?

If you are already a member of the credit union, you can login to internet banking, click on “open account” and follow the steps for starting your Club 55 Account. If you are not already a member, you can apply online for membership, before applying for your new transaction account. Eligibility requirements that you will have to meet include:

  • Minimum age. For the Club 55 Account, you must be at least 55 years of age.
  • Residency requirements. Australian permanent residents and temporary residents with a valid work visa are eligible to apply.
  • Depository requirements. There are no stipulations made in reference to a minimum opening balance for this account, although if you are applying for membership into the credit union first, you will be charged a $2 fee to become a shareholder.

After determining that you are eligible, gather the following documentation in order to make it easier to fill in all of the sections of your application:

  • Tax file number. Providing People’s Choice with your tax file number (TFN) and/or exemption codes will ensure that when withholding tax on your interest earnings, you will not be subjected to the highest marginal rate.
  • Identification. Acceptable forms of identification to verify who you are include a driver’s licence, Australian passport, Medibank Private Health Insurance, or your foreign passport with employment visa.
  • Membership number. The People’s Choice Credit Union membership number given to you will also be asked for.

After completing and submitting your application, People’s Choice will verify the details and activate your account. If you are unable to have your identity verified online, you will be asked to either visit a branch or a Bank@Post in order to complete that step. Once activated, your linked Visa debit card will be mailed to the address that you provided.

Back to top Back to top Back to top

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

2 Responses

  1. Default Gravatar
    October 3, 2017

    What is the interest rate on a pension account?
    I am on reduced centrelink as I sold my house for $412.000
    Plus they are deeming me as earning 3.25% and I am earning nil up to $2000 and

    • finder Customer Care
      JudithOctober 4, 2017Staff

      Hi Jan,

      Thanks for contacting finder, a comparison website and general information service.

      The interest rate p.a. for the People’s Choice Club 55 Account is 2.05%. Be reminded though that the interest rate is applied to the entire balance, and is tiered to give you a higher rate of return for having more money in your account. Also, the interest is calculated on your daily balance and paid into the account once a month.

      To compare the Pensioner Deeming Accounts, you may check this page. We have a panel in which you can enter the initial deposit, monthly deposit, and period. Then click “Calculate.”

      I hope this helps.


Ask a question
Go to site