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Savings Accounts
Pensioner Plus Account
Receiving a Pension and Want to Receive a Higher Interest on Your Savings?
You've probably done your sums a million times over… but have you reached that "peace of mind" that your money is going to last as long as you need it?
Decisions concerning financial security are more important now than they have ever been before. That is why the Greater Building Society has formulated an account just for Pensioners.
It's called the Pensioner Plus Account and it offers a wide range of benefits exclusively for Pensioners. It also helps you to take advantage of the Government's deeming rules, so that you can make your money work harder for you.
These benefits include:
Higher Interest on your savings!
Compared to a regular savings account, you can earn a higher rate of interest on your savings.
Greater Passbook, Cashcard and Chequebook
Making your money available to you 24 hours a day, 7 days a week.
No Account Keeping Fees
There are no account keeping fees on the Pensioner Plus account, so your money and the interest you earn is all yours!
What is the Government's Deeming Legislation?
If you are a pensioner, the Federal Government assumes (deems) that your savings will earn a certain amount of interest.
Anyone who is a recipient of Centrelink benefits will be subject to pension and allowance income test known as deeming.
This deeming test assumes that financial investments are earning a certain rate of interest regardless of what interest is actually earned.
The Greater's Pensioner Plus account has been structured to meet this rate of interest.
When are you eligible to open a Pensioner Plus account?
You can open a Pensioner Plus account when you are a pensioner and your savings are subject to Federal Government deeming rules.
What income is subject to the Deeming Rules?
For anyone who is a pensioner, income is subject to a pension allowance test.
The types of income for which the deeming rules apply, are:
- Savings;
- Financial investments eg: term deposits, shares and managed investments.
Free Phone Banking
The Greater's Phone Banking service is available 24 hours, 7 days a week and allows you to make BPAY® payments to pay your bills, transfer funds between your Greater accounts, obtain balances and check the last ten transactions on your account.
Free Internet Banking at your Convenience
The Greater's Internet Banking service allows you to make BPAY® payments to pay your bills, transfer funds between Greater accounts and accounts at other financial institutions, view your transaction history and Greater account details from the comfort of your home, office, hotel or wherever you gain access to the Internet.
BPAY®
BPAY® is a feature of the the Greater's Internet Banking service that makes paying your bills even easier!
BPAY® allows you to pay virtually all your bills in minutes from the comfort of your home, office, hotel or wherever you gain access to the internet.
How to Use BPAY®
BPAY® is the simplest way to pay all your bills at once.
All you need to remember is to:
- Look for the distinctive BPAY® logo on each bill you receive;
- Log onto the Greater's Internet Banking Service at www.greater.com.au or phone 1300 36 35 36;
- Click on the BPAY® icon and follow the simple instructions; and
- Wait for the receipt number.
Privacy
Using BPAY® allows your account details to remain between the Greater and yourself. As you are using the Greater's Internet Banking service, there is no need to give any third party access to your private account details. Every transaction you make through BPAY® can be confirmed with a receipt number.
Visa Debit Card
The Greater's Visa Debit Card gives you access to your money 24 hours a day anywhere in the world.
The Visa Global ATM Network offers unsurpassed global access to more than 700,000 ATMs in over 120 countries. Visa ATMs are conveniently located in International airports around the world.
For just $1 you can open a Pensioner Plus Account
and arrange to have your Centrelink benefits directly deposited into it.
Call 1300 651 400 or visit your local branch for more information.
The content of this web page was prepared without taking into account your objectives, financial situation or needs. Before you act on any advice contained on this web page you should consider the appropriateness of the advice having regard to the possible acquisition of a financial product. You should obtain and consider our Terms and Conditions for Deposit and Credit Accounts before making a decision to acquire the product.
View our Terms and Conditions.
AFS Licence No: 237476