Thumbnail icon for Newcastle Permanent

Newcastle Permanent Business Cheque Account

Advertiser disclosure
Account fee
$10.00
Payment options
PayID
Interest rate
0% p.a.

Mozo editorial review Newcastle Permanent Business Cheque Account

Last updated: 13 March 2020.

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What's hot
  • $10 monthly fee waived for balances above $10,000
  • Unlimited free online transactions, over the counter deposits, BPay and Visa Debit purchases
What's not
  • $5 overseas ATM fee
Mozo snapshot

The Newcastle Permanent Business Cheque Account allows for flexible and hassle-free business banking. You’ll get up to 60 free transactions per month via ATM, EFTPOS and over the counter withdrawals as long as your balance is greater than $50,000 (40 free transactions otherwise). And while there’s a $10 monthly fee, this will be waived if you’ve got at least $10,000 saved.

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Key features

With the Newcastle Permanent Business Cheque Account, you’ll be able to manage your business’ finances and access your funds with minimal difficulty. There’s an account keeping fee of $10 per month, but that’s waived if your balance stays above $10,000.

As for withdrawing your money, you get 40 free transactions via ATM, EFTPOS and over the counter withdrawals. This bumps up to 60 free transactions if your balance is greater than $50,000. Just keep in mind that there’s a daily ATM withdrawal limit of $1,000. If you’re planning on making a withdrawal at a Newcastle Permanent branch after having exceeded your free transactions for the month, there will be a $1.75 fee.

BPay, batch payments, automatic transfers, direct credit and internet banking transactions are all free and unlimited, and you’ll be able to access your money at most places thanks to the VISA debit card provided. But if you’re using an ATM overseas you’ll have to pay a $5 fee each time and a foreign exchange margin of 3.00% applies to overseas purchases. Check out our travel debits cards page for a list of more travel friendly cards to use abroad. 

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Who is it good for

The Newcastle Permanent Business Cheque Account is good for established businesses, as a larger account balance means you’ll have access to greater perks like the monthly fee waiver and the extra free transactions.

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Any catches

If you’ve used up your free transactions for the month and need to make an in branch withdrawal you should keep in mind it comes with a $1.75 fee. Branches are located across Hunter, Central Coast, Mid and Far North coast, Central West and New England regions.

Details

Rates and fees information correct as at 30 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.00% p.a.

  • n/a

  • n/a

Fees
  • $10.00

  • Maintain balance greater than $10,000

  • Unlimited free transactions from internet, counter deposit, BPay and Visa Debit purchases. 40 free transactions from network ATM, EFTPOS and counter withdrawals. If balance is over $50,000 then receive 60 free transactions per month.

  • $0.00

  • Newcastle Permanent

  • $0.00

  • $0.50

  • $1.75

  • $0.50

  • $0.00

  • $0.00

  • $0.50

  • $5.00

  • 3.00%

  • $0.00 monthly

Other financial bits
  • $1.00

  • $0.00

Features
  • $1,000.00

  • no

  • no

  • yes

  • yes

  • yes

  • yes

  • no

  • none

  • none

Atm card
  • none

  • none

  • none

Debit card
  • $5.00

  • $0.00

  • 3.00%

Customer Reviews

This product is not currently reviewed.

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