& Retirement Account
With so many options it can easily feel like your nest egg is getting scrambled. Our fee-free & Retirement Account simplifies everything.
Fee-free banking
Save money with no monthly or transaction fees.
An all-in-one account
Your transaction and savings accounts combined.
Peace of mind
Restrict or block certain transactions using card controls.
Earn more interest
Boost your interest with an & Retirement Term Deposit.
Your everyday banking and retirement savings account in one
Enjoy your retirement, stress free. Whether you’re still working towards it, or have already made it, our high-interest & Retirement Account can solve your money-management headaches. Access your money whenever you like and earn interest at the same time.
Want to keep your savings separate? Add a three-month & Retirement Term Deposit to earn even more and get the best of all worlds. And it couldn’t be easier to set up. Open your account online in minutes, or pop into your nearest branch – you’ll find us across Perth and all the way south to Bunbury.
Earning interest is just one of the perks
- Make purchases online or in-store using your Visa Debit card.
- Free cash withdrawals at atmx terminals and all major bank ATMs across Australia.
- Transfer or make payments using our mobile app or internet banking.
- Payments made with PayID or Osko are received in near real-time.
- Tap and pay securely with your smartphone using Apple Pay, Google Pay™ or Samsung Pay.
- Use card controls to block transactions such as online, overseas or Visa payWave.
Protect your retirement savings
Want to limit what your card can be used for?
Stay safe and use your card the way you want using card controls. Turn off online transactions or overseas purchases, or both. Your card, your way.
Lost your card? Don’t panic.
Lock your card temporarily while you look for it, or cancel it and request a new one online.
Peace of mind for your savings.
Rest easy knowing your retirement savings are protected under the Financial Claims Scheme (up to $250,000).
Want even higher interest?
The variable interest you’ll earn every day on your & Retirement Account is pretty great, but you can enjoy an even higher fixed rate.
& Retirement Term Deposit
Available only to & Retirement Account holders, you can enjoy the earnings of a fixed interest rate that’s better than the standard 3-month P&N Term Deposit rate.
Calculate your interest and savingsOpen your & Retirement Account online in minutes
You’ll need to be an Australian resident and 55 years of age or over. It’s easy to open your & Retirement Term Deposit at the same time, or later in internet banking or the mobile app.
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your new account.
New customers
You can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
In branch
Open your new account by visiting your nearest branch You’ll need to be at least 55 and have your Australian driver's licence or a valid passport.
New customers
To open your account online you will need to be:
- 55 years of age or older
- 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 a non-resident
- doesn't have an Australian photo identity document
You’ll need to be an Australian resident and 55 years of age or over. It’s easy to open your & Retirement Term Deposit at the same time, or later in internet banking or the mobile app.
Existing customers
Already bank with P&N? Great choice - simply login to internet banking or go to the mobile app to open your new account.
New customers
You can open your account online in minutes. You’ll become a customer and enjoy all of the benefits of banking with P&N.
In branch
Open your new account by visiting your nearest branch You’ll need to be at least 55 and have your Australian driver's licence or a valid passport.
New customers
To open your account online you will need to be:
- 55 years of age or older
- 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 a non-resident
- doesn't have an Australian photo identity document
Rates & fees
We pay you interest. You don’t pay monthly fees. It’s simple, really.
Interest rates
& Retirement Savings Account
| Interest rate | Interest calculated | Interest credited |
|---|---|---|
| 1.80% p.a. | Daily | End of month |
Optional & Retirement Term Deposit (3 months)
| Balance | Interest rate | Interest credited |
|---|---|---|
| $5,000 + | 4.45% p.a. | At maturity |
| 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.
Don't be shy about your questions
You can easily open an account online in a matter of minutes, even if you’re not already a P&N customer.
If you’re new to P&N, you’ll need to be at least 18 years old and have two forms of ID to open your account online. You can open most everyday or savings accounts online, and from there you'll also be able to open a term deposit from internet banking or the mobile app.
If you already bank with us – great choice! You can open most deposit accounts online by going to ‘Apply’ in internet banking or ‘Open account’ in the mobile app.
You should receive your physical Visa Debit card by mail within 7-10 business days.
If you've recently opened a new account online, you can set up your digital card straight away and use it with the digital wallet on your smartphone.
We understand that sometimes seeing a friendly face and doing your banking in person can be nice. And we welcome you at our branches located throughout the Perth metropolitan area from Joondalup to Mandurah, and down south in Bunbury.
Use our Branch Locator to find your nearest P&N Bank branch.
Remember, there are a wide range of actions you can undertake in the mobile app or internet banking for your convenience.
Please contact us on 13 25 77 if you'd like to speak to a team member.
New customers
If you're both new customers and looking for an account where either person can authorise transactions, the easiest and quickest way to apply for a joint account is to open an account online.
You'll both need to confirm your identity using two of the following identity documents:
- Australian driver's licence
- Australian passport
- green Medicare card
Remember to have your Tax File Numbers handy if you want to avoid being charged general withholding tax on any interest you earn over a certain threshold.
You can also open your new joint account at your nearest P&N branch. You’ll need to bring your Australian driver's licence or a valid passport.
Find out what other identification documents you can use to open an account.
Existing customers
If you both already bank with us then you can open your joint account by calling 13 25 77, or by visiting your nearest branch.
And if you'd like to set up your account so that both account holders need to jointly approve transactions, we'll need to see you in branch to sign an Authority to Operate Form.
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.
One of the account holders must be at least 55 years of age. Members may hold a maximum of one & Retirement Account as a single account and one & Retirement Account as a joint account.
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.