Great Day Deeming Account
Not just any Deeming Account
At Holiday Coast Credit Union we want you to be better off.
So that’s why our Great Day Deeming Account offers you a minimum of 0.25%pa above the prescribed government deeming rate, plus all deposits, Internet Banking, Phone Banking, Mobile Banking and Electronic Bill Payments free and no account keeping fees. And, there’s also a very generous Transaction Fee allowance to help you bank for less, but still earn more, with your Great Day Deeming Account.
With a Holiday Coast Great Day Deeming Account you will always have freedom to move your investments and use the money when you want, for what you want, how you want.
Is it time you considered making the switch to Holiday Coast for your Great Day Deeming Account?
It’s never been easier.
ABOUT THE PRODUCT
A Holiday Coast Great Day Deeming Account is an on-call transaction account, designed to not only comply with legislated deeming rules, but to exceed the minimum requirements resulting in an account that pays a higher rate of interest on your on-call funds, a bonus 0.25%pa interest on eligible Holiday Coast Fixed Term Deposits and a generous fee structure.
A Holiday Coast Great Day Deeming Account is available for new and existing members receiving an eligible pension or who are a self-funded retiree over the age of 55. Members must qualify to receive a Pension under the Government’s Social Security Deeming Provision, and have their Pension electronically credited to this account.
The deeming rules are a central part of the Centrelink income test, used to assess income from financial investments for social security and Veterans' Affairs pension/allowance purposes. Deeming assumes financial investments earn a certain rate of income, regardless of the amount of income they actually earn. If pensioners earn more than these rates, the extra income is not assessed.
Interest is calculated daily and paid monthly. The calculation is based on the balance within each tier. The Great Day Deeming Account pays in excess of the Government Deeming Rate. View current Savings Interest Rates. View current Fixed Term Deposit Interest Rates.
ONGOING ACCOUNT KEEPING FEE & TRANSACTION FEES
All deposits, Internet Banking, Phone Banking and Electronic Bill Payments are free and there are no account keeping fees with your Great Day Deeming Account. Other transaction fees may apply. View current Fees & Charges and Access Limits.
When comparing, don't just look at interest rates but consider any fees you might have to pay that will add to the 'total cost'.
EASY ACCESS FACILITIES
At Holiday Coast we work hard at making banking easy and convenient for you by providing a variety of both electronic and face-to-face services so you can access and handle your money from almost anywhere.
- Direct credit of pension or other income streams, electronic transfer, or over counter at branch.
- Electronic Bill Payments (Direct Debit or Bpay®)
- Electronic transfers via Phone or Internet Banking
- RediCARD and Visa Debit Card withdrawals via ATM’s, EFTPOS, Bank@Post (at most Post Offices), and Visa Merchants
- Personal cheque and Counter cheque
- Over the counter at branch
BENEFITS THAT DELIVER
- Earn interest rate in excess of the prescribed Government Deeming rate
- Earn Bonus interest on your Holiday Coast Fixed Term Deposits (Conditions Apply*)
- Electronically receive payments into your account
- Easy on-call access to your funds 24 hours a day using your RediCARD or Visa Debit card via ATMs, EFTPOS, Visa Merchants, and Bank@Post
- Free Internet, Phone and Mobile Banking
- A simple fee structure with generous free transaction limits to help you achieve a fee-free account
- Personalised service at our branches from Maitland in the South to Coffs Harbour in the North, and our Member Contact Centre where we are available to take your call from 8am - 6pm Monday, Wednesday, Thursday & Friday and 8am - 5pm Tuesday.
HOW TO OPEN AN ACCOUNT
Call into your local Holiday Coast Credit Union Branch or speak to a Holiday Coast Member Contact Team Member on 1300 365 7 24 and get the complete rundown on a Holiday Coast Credit Union Great Day Deeming Account.
DEPOSIT SECURITY: Holiday Coast Credit Union is licensed and regulated as an Authorised Deposit-taking Institution (ADI). ADIs are regulated by the Australian Prudential Regulation Authority (APRA). To check that you’re saving or investing with an ADI, check the list on the APRA website www.apra.gov.au/adi/ . The Government Guarantee applies to our deposits.
Eligibility criteria applies. Savings product issued by Holiday Coast Credit Union Ltd. Conditions of Use (COU) applies and is available at our branches or by calling 1300 365 7 24. Information on this website does not take into account your personal needs and financial circumstances. We recommend that you read the COU, the Financial Services Guide (FSG) the Fees & Charges documents in considering if this product is right for you. *Bonus interest paid on Holiday Coast Fixed Term Deposits of 12 months or more with interest paid fortnightly or monthly. Bonus interest is not available on special FTD's.