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People's Choice Business Online Account

Advertiser disclosure
Interest rate
0.30% p.a.(for $5,000 and over)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review People's Choice Business Online Account - last updated: 17 June 2021

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What's hot
  • 2020 Mozo Experts Choice Award winner
  • Unlimited transfers via BPAY, direct debits, phone and internet
  • No account fees
What's not
  • Must link to a transaction account
Mozo snapshot

Searching for a savings account to help your business grow? Then the People’s Choice Business Online Account could be worth a look. It features an ongoing variable interest rate of 0.40% p.a. for balances from $5,000, as well as no account fees. You’ll also be able to make an unlimited number of transactions over the phone or through BPAY, direct debits and internet banking, at no extra cost every month. 

And if that isn’t enough, the People’s Choice Business Online Account also took out a Mozo Experts Choice Award in 2020 for best Small Business No Strings Savings.

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Key features

The People’s Choice Business Online Account comes with a decent variable rate of 0.40% p.a. for balances of $5,000 and above. There are also no account fees, no minimum opening deposit and no minimum balance you have to meet or worry about (although lower rates do apply for balances below $5,000). 

And the flexible options don’t stop there. Whether you prefer speaking to someone over the phone or you would rather do your banking from the comfort of your own desk, this savings account caters for all sorts of transactions. You can make bank transfers online, via BPAY, through direct debits, or over the phone, and the great news is, there’s no cap or fee attached to how many of those transactions you can make every month.

Another feature to keep in mind is that you must link your People’s Choice Business Online Account to a transaction account. This account can be from any provider, not just People’s Choice. But if you do decide to open a People’s Choice Business Access Account and link it to your Business Online Account, you’ll receive Visa debit card access.

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Who is it good for

The People’s Choice Business Online Account is a great choice for business owners who want the flexibility of making multiple transactions and the perk of being free of fees. 

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Any catches

Bear in mind that if you keep a small balance between $1 and $5,000 in this savings account, you’ll only be earning interest at 0.05% p.a.

And if you want to open a People’s Choice Business Online Account, remember that it must be linked to any everyday transaction account.

Details

Rates and fees information correct as at 4 August 2021. 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.
Balances from $1: 0.05% p.a.
Balances from $5,000: 0.30% p.a.

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Fees

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Unlimited BPAY, direct debits, phone and internet banking transfers.

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Features

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Must link to transaction account

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About People's Choice