Frequently Asked Questions

Savings & Transactions

Questions...

• How do I withdraw money from my account?

  You can withdraw funds from your account over the counter at any of our branches, you will need to provide photo ID such as a drivers licence or passport.

  If you need to withdraw a large sum of cash please call 13 25 77 to place an order. Once your order has arrived we will call you to arrange pick up at your designated branch. Please note large cash orders can take up to 3 business days to process. 
   

• How do I set up a term deposit?

  You can set up a term deposit with us online, over the phone or in person.

  Please see How to apply for more information. 

• How do I cancel a Direct Debit on my account?

  Cancel a Direct Debit from a Credit Card
  If the debit is being processed on a Visa Credit Card please contact the merchant directly.  

  Cancel a Direct Debit from a Debit Account
  Fill in the Direct Debit Alteration/Cancellation form and return it to us. 

  Forms can be returned to us in the following ways:

  • Secure Mail: If you are an existing P&N member you can use Secure Mail, accessed via Internet Banking, Services > Secure Mail
  • Post: PO Box 8609, Perth BC WA 6849
  • In person: to one of our branches
• How long does it take an external transfer to get to the other account?

  Electronic transfers between financial institutions will take 1-2 business days to arrive in the destination account. 
  If there is a weekend or public holiday in between, this will affect the processing time.

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

• How much is needed for a term deposit?

  The minimum amount to open a term deposit account is $5,000 with a minimum term of 3 months.

   

• 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] 

• Can I make a deposit at a P&N Bank ATM?

  No, you cannot make a deposit at any ATM as P&N Bank use a shared ATM network.

  You can make a deposit through one of our local branches or you can make a deposit through Australia Post using the [email protected] facility. Fees may apply for using [email protected]

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

• 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.

• I don't want a credit card, is a VISA debit card the same thing?

  No, a VISA debit card is not the same as a VISA credit card. When you press credit on a VISA debit card, this uses the available funds you have in your  account, and there is no credit facility attached to the account.

• 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.

  You may also be interested in: 

  • Raise money clever kids
  • Why pocket money is good for kids
  • Teach your kids the value of money
  • The cost of schooling
  • Student Account
• 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.

• 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.

• 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.

• How long will it take for my cheque to clear?

  Typically, it takes 4 working days for a cheque deposit to be cleared, and the funds should be available to you on the 5th working day.

• 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.

• 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 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 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.