BSB 805 050

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BSB 805 050

Club 55 Account

A transaction account designed specifically for people 55 years and over

For Members

Aged 55+

Receive Discounted

Insurance

Competitive

Interest Rates

Visa Debit

With payWave

Our Club 55 Account is an everyday transaction account specifically designed for members who are 55 and over1. It doesn’t matter if you’re still working, retired or receiving a government pension. Our Club 55 Account gives you a competitive interest rate and generous fee discounts, including no monthly account keeping fees. Plus you’ll also receive insurance discounts and additional benefits on selected home, contents, motor vehicle and travel policies.^

  • No monthly administration fee
  • Unlimited free rediATM transactions, EFTPOS transactions, Visa Debit card ‘credit’ purchases, Direct Debits, BPAY® transactions, and People’s Choice Credit Union Branch, Agency, and Bank@Post transactions*
  • Pay with your digital wallets: Android PayTM , Apple Pay, and Samsung Pay
  • Unlimited free access to 3,400 rediATMs across Australia
  • Visa Debit card with the convenience of payWave access to make faster, easier and secure transactions
  • Easy access to your account 24/7 with the People’s Choice Mobile Banking Apps, Internet Banking and Phone Banking
  • Competitive interest rates
  • Monthly statements with the option to receive eStatements direct to your email
  • Ability to link a cheque book or overdraft facility to your Club 55 Account

You can open your new Club 55 Account online, over the phone by calling 13 11 82 or by visiting your nearest branch.

Product Name TierRate
Club 55 (Age >55 years) 1,2 $0 - $1999 0.25% p.a.
$2000 - $49200 1% p.a.
> $49200 2.05% p.a.
Club 55 Interest Examples
Interest is calculated on the portion of the balance that falls within each tier, at the rate applicable to that tier as per examples below.
Example 1 Example 2

Account Balance at close of business is $50,000.

Interest on $0 - $1,999 tier
$1,999.99 x 0.25% / 365 = $0.01

Interest on $2,000 - $49,200 tier
$47,200.01 x 1.00% / 365 = $1.29

Interest on above $49,200 tier
$800.00 x 2.05% / 365 = $0.04

Total daily interest earned = $1.35

Average interest rate on $50,000 is 0.99% p.a.

Account Balance at close of business is $25,000.

Interest on $0 - $1,999 tier
$1,999.99 x 0.25% / 365 = $0.01

Interest on $2,000 - $49,200 tier
$23,000.01 x 1.00% / 365 = $0.63

Total daily interest earned = $0.64

Average interest rate on $25,000 is 0.94% p.a.

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Product Summary

Account Purpose

Administration Fee

Criteria to waive administration fee

Interest

Access to Account

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

Interest Frequency

 

A transaction account designed specifically for people 55 years and over

Account Purpose

A transaction account designed specifically for people 55 years and over

Administration Fee

$0

Criteria to waive administration fee

N/A

Interest

Up to 2.05% p.a.

Access to Account

Visa Debit, redi2PAY, Apple Pay, Android PayTM

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

Interest Frequency

Monthly

Under 25? Our Activate Account has it all with no monthly account keeping fees

Account Purpose

A transaction account designed specifically for members aged 13 to 24 years. With no monthly fees, easy access to your account via Internet and Smart Phone Banking and no minimum balance.

Administration Fee

$0

Criteria to waive administration fee

N/A

Interest

N/A

Access to Account

rediCARD, Visa Debit, redi2PAY, Apple Pay, Android PayTM

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

18 years and above

Interest Frequency

N/A

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Flexible transaction accounts with unlimited selected transactions and a low monthly fee

Account Purpose

An everyday transaction account that gives you easy access to your money with unlimited selected transactions for a low monthly fee. Ability to have monthly fee waived if certain criteria is met.

Administration Fee

$6.50 per month ($0 per month if you meet the criteria below)

Criteria to waive administration fee

3 qualifying products.
Refer to our Fees and Charges Brochure for eligible products.

Interest

N/A

Access to Account

Visa Debit, redi2PAY, Apple Pay, Android PayTM

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

Interest Frequency

N/A

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Provides easy access to your money on the go, online, anywhere and anytime

Account Purpose

An everyday transaction account designed for members aged 25 to 54 years with the ability to have no monthly fees! Easy access to your account via Visa Debit card with payWave, Internet and Smart Phone Banking and online eStatements.

Administration Fee

$6 per month ($0 per month if you meet the criteria below)

Criteria to waive administration fee

$2,000 per month credited to the account or a People's Choice Home Loan^

Interest

N/A

Access to Account

Visa Debit, redi2PAY, Apple Pay, Android PayTM

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

Interest Frequency

N/A

Remove

An Offset Account is an everyday transaction account that can help reduce the interest charged on your home loan.  Speak to us today about your home loan needs

Account Purpose

A transaction account that can help you reduce the amount of interest you pay on your home loan. The account is linked to your People's Choice standard variable home loan and reduces the balance of the loan that you pay interest on by what savings you have in your Offset Account. 

Administration Fee

$8 per month when linked to a loan

$6 per month when not linked to a loan

Criteria to waive administration fee

N/A

Standard lending fees and charges apply. Refer to our Fees and Charges Brochure for details

Interest

N/A

Access to Account

Visa Debit, redi2PAY, Apple Pay, Android PayTM

Unlimited Free Access

Optional Cheque Facility

Optional Overdraft

Interest Frequency

Monthly

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hi…

Thank you for your enquiry. Unfortunately we don’t have a branch in this area, so please call us on 13 11 82 to see how we can still help you.

®Registered to BPAY Pty Ltd ABN 69 079 137 518
^Insurance discounts are only available on selected home, contents, motor vehicle and travel insurance policies for active Club 55 account holders.
*ATM transactions at non-rediATMs, rejected BPAY® transactions and declined electronic transactions are not free and will incur additional fees.
1 Only one account owner is required to meet the age qualifying criteria if the account is jointly owned.
2 Refer to the Club 55 Rates & Fees for examples of how interest is calculated.

Rates quoted are current at date of issue and may change without notice. Interest is calculated daily and paid on the last day of the month except where stated. Interest is calculated on the entire balance of each account at the applicable rate, except for the Club 55 Account where interest is calculated on the portion of the account balance in each interest tier. No interest is paid where the balance falls below the lowest tier shown for each account.

Android, Android Pay, and the Android Logo are trademarks of Google Inc.

General insurance (including Travel Insurance) is issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance. All our insurance issuers pay commission at rates which range from 0% - 40% of the base premium. The commission rate varies depending on the type of insurance.
People’s Choice Credit Union, a trading name of Australian Central Credit Union Ltd. ABN 11 087 651 125 Australian Financial Services Licence 244310, acts under its own Australian Financial Service Licence and under an agreement with the insurer Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance.

Terms, conditions, fees and charges apply and are available on application.

The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.

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