Basic Transaction Account General Information for Personal Banking Customers
A transaction account is designed for day-to-day banking with ready access to your money. Most people use transaction accounts to make direct deposits into, pay bills online, withdraw cash and, if you have a job, it is usually the account your employer pays your salary into.
If you make us aware, or if we otherwise become aware, that you may be eligible for a Basic Transaction Account ("Eligible Customers"), we will offer you this account. Information about Eligible Customers criteria is set out below. If you believe you are an Eligible Customer, contact our Retail Branch staff via telephone or in person for assistance. We note that, if you hold a Basic Transaction Account and you cease to be an Eligible Customer, after notifying you, we may close your Basic Transaction Account or change the account to a Demand Deposit Account. You are not obliged to accept our offer for a Basic Transaction Account.
The Basic Transaction Account provides unlimited transactions with debit card, internet banking and mobile banking access, no account keeping fees. See below for a list of all of the Basic Transaction Account special features.
1. Eligible Customers
You may be an Eligible Customer if you hold one of the following cards:
- Health Care card
- Pensioner Concession card
- Commonwealth Seniors Health card
- You may also be an Eligible Customer if you tell us (or if someone tells us on your behalf) that the following circumstances apply:
- You are a low income earner
- You are an Aboriginal or Torres Strait Islander
- You are a victim of financial abuse
- You are a victim of elder abuse
- You are a victim of family or domestic violence
- You have a disability, mental health condition or cognitive impairment
- You are suffering a serious medical condition
- You are experiencing financial difficulty
- You live in a remote location
- You are an incarcerated person or a person recently released from incarceration
2. Basic Transaction Account special features
- No minimum balance conditions
- Internet Banking
- Mobile Banking
- E-statements
- ATM account access
- Debit Card
- No monthly account keep fee
- No Debit Card fee for local transactions
- Internet Banking access to fee free transfers and payments
- No informal overdrafts (except where it is impossible or reasonably impractical for us to prevent your account from being overdrawn)
- No dishonour fees
- No overdrawn fees
