Newcastle Permanent Business Cheque Account

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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.

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. 

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.

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.