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Are your bank accounts working for or against you?

Make sure you’re getting the most from your bank accounts by checking with us today.

Monday, 20 August, 2018.

By David Brown, Senior Product Manager – Home Loans & Deposits  

Are your bank accounts making you money, or costing you money? And when was the last time you checked? You could be surprised at just how much extra you could save, or earn, by switching to an account that better suits your needs.

Our research shows that customers have a tendency to hold on to the same account type for many years. Over this time a customer’s needs and circumstances will change, as will technology and general banking habits.  

Newcastle Permanent is owned by its customers: we’re not in the business of maximising profits for shareholders because we don’t have any. So we want our customers to get the most out of their banking. We want customers to have market-leading products, with great features and competitive interest rates.

Changing account types can be a simple process that gains you some useful banking features. For example, converting from a passbook or cashcard account to a Visa Debit card account customers can:

  • keep the same account number, so direct debits won’t be affected;
  • gain added security with Visa’s Zero Liability*;
  • reduce transaction fees by choosing credit;
  • have quick and easy access to money overseas, wherever Visa is accepted; and
  • use Visa payWave~ for purchases.

Alternatively, if you’re on an old account that now doesn’t suit you, you could be: 

  • paying more fees than you need to; 
  • accessing your money in ways that aren’t the most convenient;
  • not meeting the interest earning requirements; or
  • missing out on a better interest rate on your savings. 

If you’d like to review your accounts and find out what other options are available, please give one of our friendly customer service staff a call on 13 19 87 or visit your local branch.


Here’s some information for you: You should consider the Terms and Conditions. Fees and charges may apply. Any information contained in this article has been prepared without taking into account your objectives, financial situation or needs (your personal circumstances). Because of that, before acting on the advice, you should consider the appropriateness of the advice to your personal circumstances. 

*Visa’s Zero Liability policy covers Australian and New Zealand issued cards and does not apply to ATM transactions, transactions not processed by Visa or certain commercial credit card transactions. The cardholder must notify their issuer promptly of any unauthorised Visa card use. 

Please consult your issuer for additional details. ~For more information on Visa payWave, drop into your local branch, visit or call 13 19 87.

A woman relaxing as she looks at her bank accounts
Relax with the knowledge your accounts are working for you.

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