People’s Choice Credit Union Zip Account

Credit your account with your monthly salary and enjoy fee free banking with multiple modes of accessing your cash.

The Zip Account gives you quick access to your money through a number of methods, including online, with your phone, and with a Visa debit card. You can avoid having to pay any fees for these services by meeting a deposit requirement each month. Your free transactions will even include banking face to face at your local People’s Choice Credit Union branch and the option to link a chequebook or overdraft facility to your account.

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Shirley Liu

Last Updated Jan 5, 2021

$2,000

Fee Free Deposit

Account keeping fee

ATM withdrawal fee

Overseas ATM withdrawal fee

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Details

Product Name	People's Choice Credit Union Zip Account
Monthly account fee	$6
Card access	Visa
ATM Withdrawal Fee	$0
International ATM Fee	$5 + 3%
International transaction fee	3%
Monthly deposit required to waive account fee	$2,000
Contactless Payments	Google Pay, Apple Pay, Samsung Pay

Minimum Age	24
Joint account availability	No
Minimum opening deposit	N/A

Pros

Easy access of your account thru online, mobile and phone banking
Access to rediATMs
Linked Visa debit card

Cons

Age criteria apply
You must be a member to open an account

Shirley Liu

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Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Key features

Monthly account keeping fee can be waived

The monthly administration fee for this account is $6, yet this can be waived if you are able to credit at least $2,000 or you have a home loan with People's Choice and do not opt to receive to paper statements.

Fee free transactions

You are allowed unlimited access to the following transaction methods without incurring any fees; deposits, withdrawals at a branch or at Bank@Post, BPAY, transfers made online or on the phone, rediATM and EFTPOS withdrawals, and Visa debit card purchases.

Visa debit card with Visa payWave

You can link the account to a Visa debit card, which features Visa payWave allowing you to make purchases without a pin or signature.

Free ATM withdrawals

With this card you can make unlimited rediATM withdrawals.

Mobile app available

You also have the option of linking the debit card to Visa PayTag or the redi2PAY app, both of which allow you to make purchases that do not exceed $100 by waving your mobile phone at the pay terminal.

Option to link account to cheque facility

There is the option of linking your Zip Account to a cheque facility if this is your preferred method of making payments. An overdraft is also an option if you qualify, ensuring that all of your purchases and payments are covered even if you don't have the cash in the account to cover them.

People's Choice membership is required

People's Choice is an Australian credit union, requiring that you first become a member before you are able to apply for this, or any, account with them. In order to complete this part of the process you will be asked to purchase a $2 share in the financial institution.

How to apply

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.

Eligibility

Minimum age. With this account you must be at least 25 years of age but not older than 54 in order to be eligible.
Residency requirements. Australian residents may apply so long as you are able to provide an Australian residential address. Foreigners with a work visa must be able to show this visa along with their foreign passport.

Depository requirements. While no opening deposit requirement is stated, you must be able to deposit at least $2,000 in the first month in order to avoid having to pay the account keeping fee.

Documentation needed

Tax file number. It is not obligatory to provide your tax file number (TFN) or exemption code, but it is helpful with interest earning accounts to ensure that the withholding tax on your earned interest is being deducted at the correct rate.
Identification. Photo identification documents will be asked for in order to help confirm your identity. Acceptable forms include your passport, driver's licence or Medicare card.

What happens after I submit my application?

Once you have completed your application you can submit it online where it will be reviewed, and the details of your account sent to you so that you can begin making your deposits. Your linked Visa debit card will arrive in the post and will need to be activated before you can use it to withdraw money.

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People’s Choice Credit Union Zip Account