People's Choice Credit Union Activate Account Review & Information

Product details

People’s Choice offers a special account for Australians between the ages of 13 and 24. With no monthly or transaction fees charged to the account, you can deposit your money with the security of knowing it will all be going to cover your needs and expenses. You are provided with a number of ways to make your everyday transactions, giving you flexibility and ease to manage your finances.

Product Name: People's Choice Credit Union Activate Account

Monthly Account Fee: $0

Debit Card Access: Visa

ATM Withdrawal Fee: $0

Interest Rate p.a.: 0.00%

Details: No monthly account keeping fee with unlimited free rediATM transactions, EFTPOS, Direct Debits, BPAY, Branch and Bank@Post transactions.

Fee Free Deposit p.m.: $0

Overseas ATM Withdrawal Fee: $5

Overseas Eftpos Fee: 3%

Phone Banking: Yes

Fees: $0

Internet Banking: Yes

What are the features of the People’s Choice Activate Account?

Young Australians have special financial needs to consider when comparing the bank accounts that are available to them. By carefully looking over the various features of these accounts you can make an informed choice on which one will provide you with the most benefit:

Monthly fees. No monthly administration fee is charged to you with the Activate Account.
Availability. This account is only available to individuals between the ages of 13 and 24.
Transaction methods. You are permitted to make transactions at a branch, through Bank@Post, online, over the phone and with a linked debit card.
Linked debit card. You can choose to have a rediATM card linked to the account in order to make purchases and cash withdrawals using your own cash. Account holders over the age of 16 also have the option of a linked Visa debit card.
Linked Visa debit card. The Visa debit card will allow to make your everyday transactions wherever Visa is normally accepted. It comes with the Visa payWave feature which enables you to make EFTPOS purchases of under $100 without having to swipe the card.
Visa Pay Tag and redi2PAY app. Account holders with an android phone can download the redi2PAY app which gives you the same shopping benefit as Visa payWave, yet from your smartphone. Visa Pay Tag is the same feature yet it involves sticking a small card to the back of your iPhone or older android device to make contactless payments.
Membership. Before being able to apply for any banking product from People’s Choice you will have to visit a branch and fill out an application for membership. This also requires that you pay a $2 fee for your share of the credit union.

Pros

$0 monthly administration fee
Ability to link the account to a Visa PayTag and redi2PAY App
Unlimited free transaction

Cons

This account is only available to individuals between the ages of 13 and 24

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

So long as you are already a member of the People’s Choice Credit Union, you can apply for the Activate Account online. Before you begin your application, familiarise yourself with the following eligibility requirements:

Minimum age. You need to be at least 13 years of age to open this account but cannot be older than 24.
Residency requirements. Australian temporary and permanent residents are permitted to apply for this account, but temporary residents will need to provide additional documentation such as their work visa and foreign passport.
Depository requirements. Unless you are also applying for membership, you will not be required to make a deposit when opening the account.

Once you have determined that you are eligible for this account you can gather the following documentation and continue to the secure application page:

Tax file number. You are not under any obligation to provide your tax file number or exemption code when applying for a banking account. However, with interest earning accounts having that information makes it possible for the financial institution to deduct the correct withholding rate from your earned interest.
Identification. Acceptable forms of identification include your Australian passport, driver’s licence, Medicare card or your employment visa and foreign passport.

The information you provide on the application will be verified after you have submitted your application online. You will then receive your new account number and instructions on how to begin banking with your Activate Account. The linked debit card you chose will be sent to your address and will need to be activated before you can begin making transactions.