Hello all !
Just wondering what you're opinions on me opening a new bank account for my Centrelink pension.
I use my current account for online purchasing as it has the VISA option for my balance, so I'd like this.
I don't need a credit card, don't think it would be appropriate.
Any thoughts I'd really appreciate it please.
You could always open a NAB account and not use the VISA Debit card they send you (No account fees and I find them better than a credit union)
^ This. My son opened his there to have some place to put his earnings from tutoring at uni. Quick, easy, Visa card, paper statement— all free.
Citibank Plus - fee free transaction account (no requirement to maintain or deposit a certain balance) free withdrawal from Westpac ATMs, and you get a VISA debit card with no foreign currency transaction fees.
But you'll cry over the Citibank Web interface…
Maybe one day if you find yourself on a pension you won't feel the same way.
So do you hate your parents ?
If OP is old then he has already paid his own taxes to fund this. If OP is younger than retirement age (like the 1976 suggests) it's probably disability support or similar. I'd rather be in relatively good health, get a lot more money and pay taxes than be somehow incapacitated and not be able to work at all.
suggested reading why people feel it's difficult to forgive
Think Pensioners will get fee free accounts from most banks anyway.
Personally I don't like CAN.
Not sure if Government still uses Commonwealth Bank - money transfer was faster between accounts in the same bank.
It is definitely a good idea to have a new account for your pensions and other incomes. Have a separate bank account to purchase things online and keep it as near 0 as possible. When you need more to purchase online just make an internal transfer from your other accounts (kept in the same bank). I have experiences that someone stole my money from my debit card account with West pac Bank , and I do make silly double air flight double bookings. A lot of hassles involved. By keeping my debit card account for online purchases purpose only and keep the balance as low as possible, lower risk of suffering losses or inconveniences, and less worries for us, being oldies. Good luck.
Just wondering what you're opinions on me opening a new bank account for my Centrelink pension.
Just use your existing account.
Why complicate things with different accounts spread across different banks ? (Delays in transfers etc)
It not like you are setting up a business or anything.
Look at -
NAB, no monthly fee at all. So when things change for you, there will still be no fees. Unlike other banks / Credit Unions.
Citibank Plus, is also a good 'second' account to purchase overseas without foreign currency conversion.
ING for overall awesomeness.
CAN will wave fees with a pensioner card, should do with health care card too. You need to ask them for it however. They only limit fees til end date of card, or 12 months which is ever shorter.
Cool, thanks people.
Credit Union if you are not using a card much, account would be fee free with a debt credit card (most charge you sub $5 fee if you use the credit more then 10 times a month since they dropped the yearly fee).