Save and Spend Accounts
A package solution that allows you to split your spending money and your savings into two separate accounts so your savings can really start to grow! Keeping your savings separate from your everyday account means you won't be tempted to spend it, which will help you reach your savings goal faster.
Most employers can split your pay and put it into more than one account. We will give you a card with our BSB number and your account numbers to make this easy for you.
If you are a casual or part time worker and you don't know exactly how much you will earn each week, you can ask your employer to put all your pay into your Spend Account. Then you can transfer a certain amount to your Save Account each week or whenever suits you, through Internet or phone banking, or simply by visiting one of our branches.
Benefits
- No ongoing account keeping fees.
- Helps you separate your saving money from your spending money.
- Six free transactions on each account each month.
- Free Internet and phone banking.
- Your Save Account has a high interest rate*.
*When you make at least one deposit and no withdrawals during the month.
Product Features
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Money available at call
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Yes |
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Transaction record
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Save: Passbook
Spend: Statement
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Interest
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Save: Save Account Interest is calculated daily and paid monthly (providing you make at least one deposit and no withdrawals during the month).
Spend: Spend Account Interest is calculated daily and paid every six months.
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Minimum opening balance
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$1 in each account |
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Access and transactions
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- Direct credit (Save and Spend)
- Direct debit (Save and Spend)
- Internet banking (Save and Spend)
- Phone banking (Save and Spend)
- BPAY® (Save and Spend)
- Pay Any One (Save and Spend)
- Over the counter (Save and Spend)
- ATM (Spend only)
- EFTPOS (Spend only)
- Personal cheque book (Spend only)
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Transaction fees
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Yes. There is a minimum six free transactions on each account. Additional free transactions are available if you have an automatic transfer to your eligible Newcastle Permanent Loan or you maintain a higher balance in your account.
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Ongoing account keeping fees
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Nil |
How to apply
Like to split your accounts? Read more on how to apply.
Here's some more information for you:
You should consider the Terms and Conditions.
® Registered to BPAY Pty Ltd ABN 69 079 137 518