People's Choice Credit Union Expenses Account

People's Choice Credit Union Expenses Account

Maximum Variable Rate

0.00

Standard Variable Rate

0

Keep your everyday spending needs separate from your expenses and never miss a bill payment again.

  • Access your account easily via internet, sms and phone banking
  • Enjoy unlimited BPay payments for free
  • Unlimited member cheque withdrawals

Product details

The People’s Choice Expenses Account is designed to help you budget your spending money so that your bills are always paid on time. With unlimited free BPAY and automatic transfers available, you can schedule your payments knowing that the money will always be there to meet them.

Product Name
People's Choice Credit Union Expenses Account
Maximum Variable Rate
0.00% p.a.
Standard Variable Rate
0.00% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
$0
Minimum Opening Deposit
$0
Minimum monthly deposit for bonus interest rate
$0
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Joint application?
Yes
Minimum Age Requirement
13
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the People’s Choice Credit Union Expenses Account?

The expenses account differs from a typical transaction account in that it does not link to debit cards used for your everyday spending. This makes it easier to budget your money, and stay on top of your monthly expenses. Other features of the Expenses Account should be compared with what you find with other banks transaction accounts before deciding if this is the ideal way for you to manage your money:

  • Direct deposits. People’s Choice allows for free payroll splits to credit money into this account.
  • Accessibility. Manage the account using internet, mobile, and phone banking.
  • Electronic transactions. Payments can be made using direct debit, BPAY and automatic transfers from the Expenses Account. You are also permitted to make direct credits to the account by transferring money electronically from another account.
  • Monthly account keeping fee. There is no monthly maintenance or account keeping fee charged to you.
  • Mobile app. People’s Choice has available a mobile app for both iPhone and android based products that allows you to access your account, make transfers and payments.
  • Membership. You must already be a member of the People’s Choice Credit Union before you are able to apply for any of their products, including the Expenses Account.

Pros

  • Access your account easily via internet, sms and phone banking
  • Enjoy unlimited BPay payments for free
  • Unlimited member cheque withdrawals

Cons

  • Fees apply to excess withdrawals

How do I apply for the People’s Choice Credit Union Expenses Account?

If you are already a member of the People’s Choice Credit Union you can log into your internet banking platform and apply for the Expenses Account by clicking on “Open Account” on the Accounts tab. If not, you will need to apply for membership first, which can also be done online by clicking “Go to Site”. There are no employment requirements to meet, and membership is not limited to one region of Australia, but you will be asked to pay $2 for your share of the financial institution. Additional eligibility criteria for the Expenses Account includes:

  • Minimum age. Members as young as 13 years of age can apply for the Expenses Account.
  • Residency requirements. Australian residents with an Australian residential address are eligible for this account.
  • Depository requirements. There are no minimum deposit requirements in order to open the Expenses Account.

As you fill out the online application you are also going to be asked to provide details that can be found on the following documentation:

  • Tax file number. Providing the credit union with your tax file number (TFN) is not obligatory, but it does allow for them to withhold the correct tax amount on any of your interest earnings.
  • Identification. The information found on your driver’s licence, Australian passport, Medibank Private health insurance or employment visa will help to confirm your identity.
  • Membership number. You will be asked to provide your People’s Choice Credit Union membership number when applying for the Expenses Account.

After submitting your application online, People’s Choice Credit Union will contact you with the details of the account so that you can begin setting up your automatic credits and debits. This will help you in managing your money and setting aside what you need each month to pay your living expenses.

 

Back to top Back to top Back to top

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au 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

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback