Electronic Payments BrochureCairns Penny Savings & Loans Limited |
How to Contact UsIf you have any questions or need more information, please contact us by: Mail: Cairns Penny Savings & Loans Email: info@cairnspenny.com.au |
Standard Non-Cash Payment Products
This brochure provides information about the Non-Cash Payment Products that all members of Cairns Penny Savings & Loans have access to after acquiring one of our savings or transaction account products. This will help you make an informed decision on whether to join the Cairns Penny Savings & Loans and which of the mentioned products you wish to utilise if any. This brochure includes a Product Summary.
You should also refer to our:
* A Fees & Charges Brochure setting out costs related to each product; and
* An Interest Rate Brochure listing current interest rates for savings accounts and investment products.
Member Services Guide
For information on our full range of products and services, see our Member Services Guide. Details on our rules, constitution and how to join are available on request.
Member Care Statement
Please read this brochure carefully. Always retain a copy of all brochures for future reference. Each relevant provision of the Credit Union Code of Practice will apply.
Significant Features |
Significant Benefits |
Significant Risks |
Costs |
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| Direct Debits | Established by you with a third party (eg Ergon, Telstra etc) for automatic payment from your Cairns Penny Savings & Loans account to the third party. Can be one off or regular payments. | Making a regular payment arrangement would mean there is no need to arrange individual payments/transfers each time. No need to continually attend Cairns Penny Savings & Loans or the third party to make payments. |
You will need to ensure that you have sufficient funds in your Cairns Penny Savings & Loans account to make the payment. If you wish to cease the direct debit, you can only do so through the third party. Any refund of funds debited will need to be organised by the third party unless an error has been made by Cairns Penny Savings & Loans. |
Dishonour fee applies if insufficient funds to make the payment. See Fees and Charges Brochure. |
| Direct Credits | Established by you with a third party (eg your paymaster) for automatic credit of funds to a Cairns Penny Savings & Loans account. Can be one off or regular credits. | Making a regular credit arrangement would mean there is no need to arrange individual deposits/transfers each time.
No need to continually attend the third party or Cairns Penny Savings & Loans to make the deposit. |
If you wish to cease the direct credit, you can only do so through the third party or by closing the Cairns Penny Savings & Loans account.
Direct allocation will need to be established to ensure funds are deposited to correct sub account. |
No fee is applicable. |
| Periodical Payments | Established with Cairns Penny Savings & Loans for automatic payment or transfer from your Cairns Penny Savings & Loans account to another Cairns Penny Savings & Loans account or a third party (eg a payment to another financial institution). Can be one off or regular payments/transfers. | Making a regular Periodical Payment arrangement would mean no need to arrange individual transfers each time.
No need to attend the third party or Cairns Penny Savings & Loans, once payment has been set up. |
You will need to ensure that you have sufficient funds in your Cairns Penny Savings & Loans account to make the payment/transfer. If insufficient funds on six (6) occasions, the Periodical Payment misses the payment and tries again on the next due date. If there is insufficient funds on three consecutive due dates the periodical payment is cancelled without prior notice to you. |
See Fees and Charges Brochure.
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By joining the Cairns Penny Savings & Loans and being issued with a Savings or Transaction account you automatically have access to:-
* Direct Debits
* Direct Credits
* Periodical Payments
*
BPay
Which are available to be linked to the following accounts:
Account Types |
Payment Services Available |
| S2 Savings Investment Account | Periodical payments, Direct Credit, Direct Debit and BPay. |
| S3 Pennywise Account | Periodical Payments, Direct Credit, Direct Debit and BPay. |
| S4 Personal Cheque Account | Periodical Payments, Direct Credit, Direct Debit, Personal Cheque Facility and BPay. |
| S5 Pensioner Account | Periodical Payments, Direct Credit, Direct Debit and BPay. |
| S6 Christmas Club | Direct Credit |
| S8 Business Cheque Account | Periodical Payments, Direct Credit, Direct Debit, Cheque Facility and BPay. |
