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$50 For Opening Account At People's Choice Credit Union

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$50 For Opening Account At People's Choice Credit Union
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skysurfer on 16/01/2015 - 22:38 peopleschoicecu.com.au (353 clicks)

$50 for opening an account using a referral code from an existing eligible member (see below), and making at least one transaction on the account. The referrer also gets $50. There is no limit on number of referees, the whole idea is for the credit union to get as many new customers as possible.

It takes up to two weeks to get the $50 payment into your new account.

Full terms and conditions from the sign up page:

$50 reward applicable where referee opens a new membership with People's Choice Credit Union and an eligible transaction or savings account between 5/1/2015 and 30/4/2015 and during this period conducts at least one transaction, not including the $2 share, on the new account. Each referee must register their new membership number and the referrer's individual code via peopleschoicecu.com.au/matemachine. For both parties to receive their reward, registration by the referee must be made and the referee must have conducted at least one transaction on their new account by 30/4/2015. The referrer will receive $50 for each referral that meets the requirements of eligibility. The referee will receive $50 for opening a new membership and a transaction or savings account with People's Choice Credit Union and meeting the required transaction criteria within the campaign period. $50 reward will be credited to the referrer's and the referee's eligible People's Choice Credit Union account within a 2 week period of the transaction criteria being met. Only one payment of $50 will be made where the eligible account is held by joint members. Separate payments will be made into the referrer's account for each new member that meets the Mate Machine criteria for payment. The narration for this payment will be labelled as 'Mate Machine'. Current as at 1/1/2015. Offer subject to change at any time. People's Choice Credit Union, a trading name of Australian Central Credit Union Ltd. ABN 11 087 651 125. AFSL/Australian Credit Licence 244310.

You need a referral code. My referral code is MC118895

MODS: This deal has been on here in 2014 the last time the credit union ran it. It was removed by a mod but quickly reinstated because it does follow the rules. Cheers.

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People's Choice Credit Union
People's Choice Credit Union

closed Comments

  • easternculture on 16/01/2015 - 22:56

    As far as im aware, their is a limit on the referral credits you can get last time i talked to them, i think it was 5 per account

    You can still try your luck, but if OP's referral is exhausted, you will less likely receive the $50 bonus

    • Sweet3st on 16/01/2015 - 23:05

      Says nothing to this effect in the Terms and Conditions.

      • easternculture on 16/01/2015 - 23:14
        +6

        I had to call them. Was considering opening an account for the referrals, hence i asked

        They put me on hold for 10 min and came back with the answer of 5 per account. The girl initially wasnt sure and had to speak to her supervisor.

        Anyways, feel free to call them tomorrow and clarify this

        Dont be surprised that companies try and hide this kind of information. For example COTD state in their referral program that:

        Too easy! And the more friends you refer, the more store credit you receive, so start spreading the word!

        However, its capped at 10 referrals per account with no reference in the T&C

        Also, have a look at their fee's and charges - PDF

        • $0.30 for each declined transaction after the first one regardless of reason.
        • $0.25 extra per non-rediATM withdrawal (I thought those fees were illegal now but there you go)
        • $5 cash advance fee if you press Credit when withdraw cash at any ATM because apparently even though it's your money it's a cash advance according to them.
        • $5 per transaction if you happen to lose your wallet and therefore have no card ID and need cash out over the counter.
        • $20\year if you leave your account inactive.
        • $10 per replacement card unless the card was stolen.

        It was removed by a mod

        Reason it was removed

        In short:

        Reason being that there seemed to be a bit of confusion and none of the people at PeoplesChoice could give the OP a straight answer regarding how many can sign up under one code. There was a possibility that PeoplesChoice could start dishonouring the referral scheme if they saw too many people sign up thus causing a few unhappy people (OzBargainers) with an account with -$2 to their name. This could result in bad credit ratings if they leave it like that.

        • douglasac10 on 16/01/2015 - 23:51

          Beat me to posting their stupid fees again ;D There's a couple of new ones too, or ones I missed last time:

          • Membership fee: $2, one off, charged at joining.
          • Redicard fee, $5 per year (excluding members under 18 years of age, members who use the SAAB service, memberships with only ‘two to sign’ accounts and Cards issued to signatory only members).

          You can go to Citibank, HSBC, ING Direct or MEBank amongst others and get a bank account with virtually no stupid fees.

        • easternculture on 16/01/2015 - 23:56
          +3

          @douglasac10:

          SO they give you $50 bonus but get it back in fee's

        • douglasac10 on 16/01/2015 - 23:59
          +1

          @easternculture: Pretty much, but charging fees for everything is the modus operandi for most credit unions really. A coworker was looking at joining the Fire Service Credit Union and they were worse - not only did they have silly fees like that, but they gave customers a whopping great six transactions per month and then charged about 65c per transaction.

        • skysurfer on 17/01/2015 - 09:23

          Errr….. I was the OP and none of your 'reason' for the original temporary post removal even existed. How can you post stuff like that as if you stating facts when you have no idea. The reason was the mod at the time thought it contravened a referral rule, which it doesn't. Sheesh.

        • asterixwins on 17/01/2015 - 10:37

          @douglasac10: Thanks

        • Sweet3st on 29/01/2015 - 16:26

          I had no trouble getting my $50 using OPs referral. Thanks OP.

        • easternculture on 29/01/2015 - 16:51

          @Sweet3st:

          they will have no trouble getting the $50 back with their silly bank fee's

  • whitty on 16/01/2015 - 23:05
    +3

    $6/mo account fee for their tx accounts unless you're under 25 or meet other criteria ($2k/mo deposits for zip account).

    • seanbaussie on 16/01/2015 - 23:45

      That is crazy! No way I'd keep my money in there - it's not like there's any benefit to the account that couldn't be had for $0/month elsewhere??

    • mrdevil on 17/01/2015 - 00:33

      Yep, one of the reasons I closed my membership - that and their interest rates suck compared to other credit unions out there (plenty of which DONT charge monthly fees).

  • [Deactivated] on 17/01/2015 - 02:15
    +1

    Most of these credit unions amaze me. I do not understand how they stay afloat. I guess they do have a personal touch being so small, but they have generally limited support, locations and horrid internet banking software(MVP) which I can't stand.

    • bought on 17/01/2015 - 06:16
      +2

      Yet they still whinging the big banks are taking over the world.

  • eltito on 17/01/2015 - 08:50
    +1

    maybe someone can shed some light, why would anyone ever consider opening an account such as this (minus the $50 bonus) when they pretty much charge you for anything and everything. There are so many good offers out there - I don't understand how anyone can stay with a company that charge an arm and a leg, when other competitors offer similar to possibly better services at a better price.

  • WaywardOne on 17/01/2015 - 09:49
    +1

    Before you can open an account you must apply to be a member.

    There are various proofs to verify identity;
    after Drivers License and Australian Passport, I was still only 75% identified. My only other option was "Credit File". Stupidly I proceeded.

    They did a Credit File check as part of the member application process. From my understanding this is bad if you ever want a home loan. Proceed with caution.

    Other id verification options include:
    Make sure you’ve got the following documentation (where relevant) ready to go:

    Driver's licence
    Australian Passport
    Medibank Private health insurance
    Employment visa (foreign passport)
    Phone Book

  • Kevan2 on 17/01/2015 - 10:16

    Sorry Guys, I am not sure on fees again. There are the dumb user fees for things like overdrawing account, trying to or getting a credit card advance. Then there operational fees like annual fee or do not use fee the latter is a warninging if charged 3 Times the account goes to unclaimed monies.

    I have not looked at there web site or spoke to them but looked at the PDF on fees. Is the real fee $6 dollars pa rebatable ?

    I would hate to work as a teller to try to explain the fee PDF. Perhaps its a butt covering form list everything including farting fee then there is no backlash.

    The sums $10 to open, 5 referral accounts opened $250., fee to open $6. Refund of opening fees to the $30. Balance remaining $10+ $250 - $6 - $30 = adjust for any closing fees, the money lent to the brave 5 who opened the account.

    Pity there has to be 100 points then the exercise would be worthwhile.

    I

    • skysurfer on 17/01/2015 - 22:39
      +1

      @Alvy and @Kevan2. It's not complicated. $6 a month admin on some accounts. Nothing to open an account, nothing to close an account, nothing to transact with standard EFT, in branch or via their ATMs. I have had an account with a small working balance for 10 years, the $6 is all I've paid. They have provided a significant overdraft at a good rate and a home loan at a good rate and a transaction account to use. It's a good deal for me, YMMV.

  • amar503 on 19/01/2015 - 12:33

    Can you please let me know how i can get my own referral code.

  • WaywardOne on 06/02/2015 - 06:47

    Hey, has anyone received their $50 yet?

    I have satisfied all the criteria, but nothing so far. I would like to close the account before I get charged a $6 monthly account fee.

    • Sweet3st on 06/02/2015 - 09:42

      Yes. I received the email saying I would get the $50 about 10 days after satisfying the criteria, and the $ in my account a couple of days after that. They say to allow 2 weeks all up.

      • WaywardOne on 06/02/2015 - 15:49

        EDIT: The $50 appeared in my account today :)

  • shortgum on 17/02/2015 - 10:25

    can anyone tell me where I can get the matecode? So I can open an account with PCCU

  • Tasmaniac on 17/02/2015 - 14:19

    Hi guy's I've added a referral Wiki, please feel free to add and use codes accordingly:

    https://www.ozbargain.com.au/wiki/people_s_choice_credit_uni…

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