Senior Savers Account

The Senior Savers account is for members who are 55 years+, holders of a Seniors Card or recipients of an eligible pension. The account provides access facilities including direct credit of your Centrelink payments and other income, ATM/EFTPOS and Bank@Post access through a Redicard, the convenience of Internet and Phone Banking, BPAY and Direct Debits payments. Interest is paid quarterly.

Eligible pensions include:

  • Aged pension
  • Widow’s pension
  • Wife’s pension
  • Veteran’s pension
  • Disability support pension
  • Carer’s Pension

 

Product Features:

Savings Accounts Features
Minimum Rate : 0.50% pa
Maximum Rate : 2.00% pa
Annual Fee : $0
Monthly Fee : $0
Funds Available : At Call
Minimum Amount : $1
Auto Sweep Facility : Yes
Overdraft : No
Personal Cheque Facility : No
Branch Access : Yes
ATM/EFTPOS Access : Yes
BPAY : Yes
Direct Entry (Credit/Debit) : Yes
Interest Calculation : Calculated daily, paid quarterly
  • Funds are available at call;
  • You can split up your pay into different accounts to allow weekly/monthly regular payments to be paid;
  • The redicard enables you to access all ATM and EFTPOS terminals throughout Australia, plus Bank@Post networks through on-line Australia Post Offices.
  • Pay instantly for purchases under $100 by waiving your payWave redicard over a secure contactless terminal;
  • Internet banking, our mobile banking app and telephone banking are available 24 hrs a day 7 days a week.
  • Eligibility for a Senior Savers Account is restricted to members over 55 years of age receiving an eligible pension : Aged, Disability, Veteran, Widows, Wife, Carers or a member that has a Seniors Card;
  • Access to this account is by a passbook or redicard;
  • Funds may be accessed over the counter, via the Internet, our mobile banking app, telephone, EFTPOS, ATM or Bank@Post outlets.
  • You must be a registered internet banking user. Internet banking is not available where two or more parties must sign to transact on the account
  • Electronic Funds Transfer: External transfers can be made over the counter, by internet, our mobile banking app or telephone banking.
  • Internal transfers can be made over the counter, by internet, our mobile banking app or telephone banking.
  • BPAY: Is available by internet, our mobile banking app and telephone banking.
  • Direct Debits: You can have many of your payments debited directly from your account.
  • Direct Credits/Periodic Payments: Funds may be electronically transferred on a regular basis.

Interest rates (where applicable) are variable so contact any branches of Geelong Bank, telephone 1300 361 555 or visit our website www.geelongbank.com.au.

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