Find answers to some of the most common questions from our members
You can now access People's Choice Internet Banking here or the red Log In button in the top right hand corner
Using People's Choice Internet Banking for the first time
When you log on to Internet Banking for the first time please use your People’s Choice member number and your TIO Password. You will be asked to reset your password once you have logged on and you will also need to setup Factor2 Icons. Factor2 is a security system that helps to protect you from unauthorised transactions on your account.
The first time you transfer money to another financial institution or use BPAY®, you will be asked to choose three secret icons. These will then be used every time you use these services in the future. Each time you use BPAY® or transfer funds to another financial institution, you will be prompted with nine icons, including your three chosen icons, in a random order. You will need to select your secret icons in the correct order before you can BPAY® or transfer funds.
For any new direct credits or debits please use People’s Choice BSB 805-050. From 1st October 2015 the TIO BSB 704-930 will no longer be valid.
Absolutely. Each deposit account holder with People’s Choice is covered up to $250,000 by the Federal Government Guarantee, which is the standard Federal Government protection that applies to all banks, buildings societies and credit unions in Australia.
For example, if an account holder has three deposit accounts each of $100,000, they will be covered for $250,000. $50,000 would not be government protected under the scheme. In the case of joint accounts, each account holder’s equal share of the joint account would be applied to the scheme, so each account holder is entitled to an individual guarantee up to $250,000.
Of course, this Government Guarantee is only one protection. In the extremely unlikely case of a liquidation or similar, there are always obligations to depositors and creditors.
For more information, the Australian Prudential Regulation Authority (APRA) has also provided a questions and answers summary of the Financial Claims Scheme on their website.
Financial Claims Scheme Questions and Answers
Yes, you will need to supply your email address so as you can receive notifications via secure email advising your online statement is ready for viewing via Online Banking.
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