BSB 806 015

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BSB 806 015

Savings and Transaction account FAQ's

Questions...

  • What is an everyday account?

    An everyday account, also known known as a transaction account, is a bank account you can use for day to day access to your money. It's a convenient account for receiving regular payments such as your pay or benefits, as well as for making payments for things like fuel, groceries and daily expenses.

  • Why get an everyday account?

    Everyday accounts usually come with a range of low cost access options such as a Visa Debit or ATM card for EFTPOS payments and ATM withdrawals, as well as BPAY and Internet Banking, making them a convenient account to manage regular incoming payments and outgoing expenses.

  • What to look for in an everyday transaction account?

    Many everyday accounts have a range of fee free options, whilst others charge a monthly fee or fee per transaction. You should look for an account that suits your transaction and access needs, with no or low ongoing fees and charges.

  • What is a savings account used for?

    A savings account can be used to save towards a specific goal such as a holiday or home deposit. It can also be used to put aside funds for emergency expenses such as car or home repairs or simply to put aside money for a rainy day. 

  • Why open a savings account?

    Having a dedicated savings account separate from your everyday account will make it easier for you to stick to your savings plan. Savings accounts don’t usually come with Debit cards, so it’s not as easy to withdraw your savings. Savings accounts also usually pay a higher rate of interest than an everyday day account to reward regular deposits and limited withdrawals from the account.

  • What to look for in a savings account?

    The most important thing to look for is a competitive interest rate. Some accounts may offer bonus interest payments based on regular deposits and not making withdrawals. It's also important to look at fees, such as whether a monthly fee is charged, as this will eat away at your savings. Plan how you will use the account and look for an account with features and costs that suit you.

  • How do I open a savings account?

    If you're 18 years of age you can open a savings account online. Existing members can log in to Internet Banking and go to Apply to open an account. New members can apply online by selecting Apply from the website. Alternatively, you can open an account by taking your identification documents to one of our branches.

  • How do I query a transaction on my account?

    You can view your transaction history 24/7 on our Mobile Banking App or Internet Banking Service. 

    If you need more information on the transaction, please call 13 25 77 or visit your local branch and one of our friendly team will be happy to assist.

  • Do P&N Bank offer any accounts suitable for children?

    Our Way Cool Saver Account is specially designed for kids to help them start on a regular savings plan. With no account fees, limited transaction fees and no minimum monthly deposit required to earn interest, it’s an easy to understand account that will get your kids off to a great financial start.

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  • How do I deposit a cheque into my P&N Bank account?

    You can deposit a cheque into your P&N Bank account by any of the following methods:

    • Visit any P&N Bank branch 
    • Post it to PO Box 8609, Perth BC WA 6849 along with your account details
    • Deposit it at an Australia Post office using [email protected] and your P&N Bank card

    Find out more information about accessing your accounts via [email protected] 

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