Everyday bank accounts

Frequently asked questions

• What type of bank account is best for everyday banking?

  The best everyday bank account for you depends on your financial circumstances and personal objectives. Each bank offers everyday banking accounts with different features and benefits. For example, some may require you to pay a monthly account keeping fee, while others have international transaction fees.

  P&N Bank offers a selection of everyday bank accounts suitable for account holders of any age. None of our everyday bank accounts have a monthly account keeping fee, and they offer bank-on-the-go services such as an instant Visa Debit card, Mobile App access, BPAY, and instant payments with Osko.

• What features should I look for in an everyday account?

  Many everyday accounts have a range of fee free options; however, some accounts may charge monthly fees or fees for certain types of transactions. You should look for an account that suits your access needs that also has minimal ongoing fees and charges to keep more of your money in your pocket (or in this case, in your account).

• Why get an everyday account?

  Everyday accounts usually come with a range of low-cost access options. These can include access to a Visa Debit or ATM card for EFTPOS payments and ATM withdrawals, as well as access to services such as Osko instant payments, BPAY and Internet Banking. Access to these services makes them a convenient account to manage regular incoming payments and outgoing expenses.

• What is the difference between an everyday account and a savings account?

  An everyday or transaction accounts is a type of bank account that you can make deposits to and withdrawals or payments from for your everyday needs, while a savings account may have certain requirements you need to meet in exchange for higher interest rates. Everyday bank accounts are more accessible and are better suited for day-to-day use.

• Are there any fees charged on everyday accounts?

  The transaction accounts that P&N Bank offer have no monthly fees and minimal transaction fees. A full list of fees and charges that apply to our accounts can be found on our fees and charges page.

• How can I open a new everyday bank account?

  Opening a bank account with P&N Bank is quick and easy. For both existing and new members, you can apply online or in person at a one of our branches.

• How do I close my everyday or savings account with P&N Bank?

  You can close your P&N Bank account by:

  • calling us during business hours on 13 25 77, or +61 8 9219 7609 if you’re overseas
  • getting in touch via WebChat, and logging into your Internet Banking so that we can confirm your identity, or
  • visiting your local branch with identification.

  If the account is two-to-sign, we will need to speak with both account holders before we can close it.

  Before closing your account, you should ensure that all recurring payments and direct debits set up from the account are cancelled and any overdrawn balance is cleared in full.