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The new National Concession Card Account is available from today and effectively offers pensioners and health care cardholders fee free banking.
The account, developed after extensive research and community consultation regarding the needs of low income earners, older people and people with disabilities, offers:
- A $40 monthly rebate to offset standard transaction fees. This is equivalent to 13 free over the counter transactions per month, or alternatively 66 National ATM transactions.
- No minimum monthly balance requirement.
- No monthly account-keeping fee.
- Unlimited free direct debits.
- Choice of access via the National's network of approximately 900 outlets, plus National ATMs, phone banking, Internet banking, and EFTPOS facilities. It can also be used at 2800 Australia Post giroPost facilities.
"Today marks the beginning of a new era between the National and its customers. We have recognised the importance of providing accessible banking services to all customers," said the National's CEO, Australian Financial Services, Mr Mike Pratt.
"Over 200 low income individuals and community sector organizations were surveyed to research issues surrounding use of banking services and provide a sound basis for the features of the National Concession Card Account," he said.
The National Concession Card Account was designed in conjunction with the National's Community Consultation Forum. The forum, chaired by the Reverend Tim Costello, comprises representatives from The Salvation Army, ACOSS, Anglicare, Catholic Social Services, Mission Australia, Australian Pensioners and Superannuation Federation, Baptist Church, Good Shepherd Youth & Family Service and National Disability Consumer Caucus.
The account is available to existing National customers (as at May 24, 2001) who are pension, health care or seniors health cardholders. New customers must operate a National account for one year to be eligible.
Find out more about the National Concession Card Account
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