Budgeting Account
Budgeting in buckets? Or using the 50-30-20 rule? However you budget, our Budgeting Account is your trusty sidekick to help you master your finances!
Flexible access
Link your Budgeting Account to any of your P&N cards for payments on the go.
Money management, simplified
Keep your everyday banking and your bills separate.
No minimum balance
Start mastering your budget, stat!
Budget on the go
Move your money with ease using internet banking or our mobile app.
Budget smarter, not harder
Take control of your finances with our Budgeting Account. There’s no monthly or standard transaction fees, so you can focus on your finances, not on fees!
And to make money management a whole lot easier, you can open multiple accounts so you can budget and keep track of your expenses like a pro. Plus, personalise your account names in internet banking or the mobile app so you’ll never mix up your rent money with your pizza fund again!
Make budgeting a breeze
- No minimum balance or opening amount required.
- Open up to five accounts to budget in buckets.
- Transfer or make payments using our mobile app or internet banking. Payments made with PayID or using Osko are received in near real-time.
- Free cash withdrawals at atmx terminals and all major bank ATMs across Australia when you link your account to an existing P&N Bank Visa Debit card.
Budget like a boss with mymo
mymo is your personal banking buddy. It’s an app you can use with your P&N Bank accounts to help you budget like a boss.
Link up all your bank accounts to see all your income and expenses at a glance, track your spending, and set up bill reminders. Budget smarter, save more, and waste less.
Open your Budgeting Account online in minutes
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your Budgeting Account.
New customers
If you’re over 18 years of age, you can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
Open your account in a branch
We're happy to meet you if you choose to open your account at your nearest branch.
New customers
To open your account online you will need to be:
- over 18 years of age
- an individual (not a business or association)
- an Australian resident with a current Australian residential address.
And you’ll need to provide two of the following:
- a valid Australian driver's licence;
- an Australian passport;
- a Medicare card (green).
Handy hint: Have your tax file number ready. If you earn more interest than the limit set by the ATO, you need to pay tax. To avoid this, provide your tax file number when applying.
Open your account in a branch
If you don’t already bank with us you’ll need to bring your Australian driver's licence or a valid Australian passport for ID.
A list of alternative identification documents is available for anyone who:
- is under 18 years of age
- is a non-resident
- doesn't have an Australian photo identity document
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your Budgeting Account.
New customers
If you’re over 18 years of age, you can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
Open your account in a branch
We're happy to meet you if you choose to open your account at your nearest branch.
New customers
To open your account online you will need to be:
- over 18 years of age
- an individual (not a business or association)
- an Australian resident with a current Australian residential address.
And you’ll need to provide two of the following:
- a valid Australian driver's licence;
- an Australian passport;
- a Medicare card (green).
Handy hint: Have your tax file number ready. If you earn more interest than the limit set by the ATO, you need to pay tax. To avoid this, provide your tax file number when applying.
Open your account in a branch
If you don’t already bank with us you’ll need to bring your Australian driver's licence or a valid Australian passport for ID.
A list of alternative identification documents is available for anyone who:
- is under 18 years of age
- is a non-resident
- doesn't have an Australian photo identity document
Rates & fees
We’ve taken it back to basics with our Budgeting Account to make budgeting as simple as possible.
Interest rates
| Balance | Variable rate | Interest calculated | Interest credited |
|---|---|---|---|
| Under $100,000 | 0.01% p.a. | Minimum monthly balance | End of month |
| $100,000 + | 0.05% p.a. |
| The basics | |
|---|---|
| Monthly fee | $0 |
| Minimum monthly balance | No |
| Everyday transactions | |
|---|---|
| EFTPOS and Visa purchase | Free |
| Withdrawal at atmx and major bank ATMs in Australia | Free |
| Internet banking & mobile app transfer | Free |
| BPAY® transaction | Free |
| Direct debits and direct credits | Free |
| Non-standard transactions | |
|---|---|
| Bank@Post™ withdrawal | $3.00 |
| Bank@Post™ deposit | Free |
| Card replacement - standard | $10.00 |
Other fees and charges may apply. For more information, please read the full list of account fees and charges.
Find your nearest branch
We’ve got branches all over the Perth region, and as far south as Bunbury.
All your budget busting questions answered
You can have up to five Budgeting accounts to take your budgeting to the next level.
Once you’ve opened your first account with P&N Bank, simply log into internet banking or our mobile app to open additional accounts in a matter of minutes.
You’ll be budgeting in buckets in almost no time!
The 50/30/20 budgeting rule is a way to budget your money. Your income is split into three areas to help you know what you can spend and save.
With this guide you allocate:
- 50% of your income to 'needs'. Needs can be your rent or home loan repayments, transportation, your weekly grocery shop, debt repayments, insurances, education and utility bills.
- 30% of your income to 'wants'. Wants can be your daily takeout coffee, eating out, shopping, entertainment, hobbies and holidays.
- 20% of your income to savings. Savings can be an emergency fund, a savings goal, additional debt repayments and investments (which can include superannuation).
You can personalise the names of your accounts that appear in the mobile app and internet banking. This can be helpful when you’re saving for different goals or opening accounts for specific purposes e.g. My home deposit, New car account, Takeaway fund.
-
- In the mobile app select the account you wish to personalise. Tap the three dots in the top right-hand corner, and then select Rename account > Personalised account name > Update.
- In internet banking, go to Settings > Account preferences > Preferred account name > Update and save.
You can change or remove your personalised account name any time. To revert the account name back to display its original name, simply delete the custom name you have loaded and save your change.
mymo and our mobile app are a match made in money management heaven.
On the one hand, you’ve got our mobile app, which puts all your P&N accounts and products, plus a heap of banking functionality, at your fingertips.
And in the same hand, you’ve got mymo, bringing together all your financial data and account info – from P&N and your other financial institutions – so you can budget like a boss, manage your finances, save money, and smash your financial goals.
Important information
Banking and Credit products issued by Police & Nurses Limited (P&N Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms & conditions, fees & charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
Bank@Post™ deposits and withdrawals are available only with a P&N ATM Card or VISA Card. Cheques must be made out in the name of the cardholder to be accepted at Bank@Post™ and are subject to 4 working days clearance.
BPAY® is registered to BPAY Pty Ltd ABN 69 079 137 518.