A transaction account designed to make life easier for retirees and pensioners.
Three reasons to open an Easy Retirement Account
Find out if this account is the right fit for you.
For retirees and pensioners
A transaction account with stepped interest rates
Debit Mastercard®
Access your money with a Debit Mastercard® and enjoy 24/7 fraud monitoring
Security
Peace of mind with Multi-factor authentication (MFA) and protecting your card against unauthorised transactions
Easy Retirement Account summary
A transaction account designed to make life easier for retirees and pensioners.
- Minimum opening balance of just $1
- e-banking and phone banking anywhere, anytime
- Branch and ATM access Australia wide
- Access your money with a Debit Mastercard®*
- Go green and set up e-statements on your account
Rates and fees
Here are some rates and fees that may apply to your account. For the full list of fees and charges, please refer to schedule of fees and charges.
Monthly service fees
$0
Branch & ATM
$0 - unlimited Bendigo Bank ATM and withdrawals
$2.50 for in-branch staff assisted services including cash withdrawals and transfers
Transactions
$0 - unlimited EFTPOS withdrawals and retail purchases within Australia
Transfers
$0 - unlimited e-banking transfers; BPAY®, Pay Anyone (including OSKO®) and phone banking transfers
Withdrawals
$0 unlimited EFTPOS withdrawals
Stepped Interest rate
For that part of your balance between
- $0 - $9,999.99 - 0.85%p.a.
- $10,000 - $49,999.99 - 1.70%p.a.
- $50,000 - $249,999.99 - 2.20%p.a.
- $250,000 and above - 2.50%p.a.
Interest calculated daily and paid monthly.
Before you start
Read our eligibility criteria and have your documents ready.
Identity
If you are a new customer, we will need to verify your identity via any two forms of IDs listed below.
- Drivers License
- Passport
- Medicare card
Eligibility
- You need to be an Australian citizen or resident
- Be aged 55 years or above
- Be retiree, self funded retiree, Recipient of Centrelink aged pension or Department of Veterans Affairs (DVA) administered pension
Joint or Business accounts
Not available to business customers. Please visit a branch to open a joint account.
Open an Easy Retirement Account
Check that you meet our eligibility criteria. Open our convenient transaction account and get access to useful features.
Apply in-branch
If you are a new or an existing customer, you can apply at your preferred branch.
Contact us
If you’d like more information you can contact us on 1300 236 344.
Enquiry form
If you’d like more information and would prefer we contact you, fill out our online enquiry form.
Travel Insurance
Different options for different travellers, all designed to protect you from medical emergencies and unforeseen changes to your plans.
Helpful tools
Discover our library of helpful tools to manage your finances, set goals, and achieve more.
Frequently asked questions
Who can open a Easy Retirement Account?
Anyone over the age of 55 who would like to use the Easy Retirement Account for personal use can open an account. You’ll need to be either a self-funded retiree or receive an aged pension from Centrelink or a Department of Veterans Affairs administered pension.
Are there transactions which attract a fee for the Easy Retirement Account?
Yes, the following transactions attract a fee and will be charged at the time of the transaction.
- EFT Credit Transfer
- Periodical payment by cheque
- Periodical payment to other financial institution
- Bank cheque withdrawal
- Bank@Post transactions
- Staff Assisted Services (in branch) including cash withdrawals and transfers
You can avoid these fees by setting up regular payments using e-banking or the Bendigo Banking app as these are free transactions. For a full list of fees please refer to the Schedule of Fees Charges and Transaction Account Rebates booklet.
What is a Staff Assisted Service fee?
A $2.50 fee which is charged if you visit one of our branches and have one of our team transact on your account – e.g. withdrawing cash or transferring money. For a full list of fees please refer to the Schedule of Fees Charges and Transaction Account Rebates booklet.
Do international fees apply on the Easy Retirement Account?
Yes, standard international fees apply to the Easy Retirement Account. These fees will be charged when you use your Debit Mastercard to make purchases overseas or online with businesses who are based overseas. For a full list of fees please refer to the Schedule of Fees Charges and Transaction Account Rebates booklet. If you're planning to travel overseas you may be interested in our Cash Passport.TM
Can I have more than one Easy Retirement Account?
Yes, you can have multiple Bendigo Easy Retirement Accounts.
Can the Easy Retirement Account have a card attached?
Yes, customers can choose to link a Debit Mastercard to their Easy Retirement Account at no charge. By choosing a Debit Mastercard, customers will have the added benefits of being able to make purchases online, use tap and go facilities, use mobile payments, use their card overseas, and be protected from unauthorised transactions by Mastercard Zero Liability5. For fees associated with overseas transactions refer to the Schedule of Fees & Charges and Transaction Account Rebates.
Can the Easy Retirement Account be opened in joint names?
Yes, the Easy Retirement Account can be opened for an individual or in joint names. Both joint applicants must meet account eligibility criteria.
Need help?
Whether you prefer online resources, phone assistance, or a friendly face-to-face chat, we offer a variety of ways to get the support you need. Let us know how we can help!
Online
Complete the online enquiry form and a banking team member will contact you via your preferred channel, phone or email.
At a branch
Use our branch locator to search for a branch, agency or ATM near you.
Phone
If you have clicked on any suspicious links and entered your e-banking details:
You may also be interested in
Things you should know
^ Roy Morgan Risk Monitor 2024. Customers of Bendigo and Adelaide Bank Limited.
5Mastercard Zero Liability
Conditions for protection apply, see mastercard.com.au/zero-liability
Target Market Determinations for products are available.
Mastercard
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
BPAY and OSKO® are registered trademarks of BPAY Pty Ltd ABN 69 079 137 518.
This information does not take your personal objectives, financial situations or needs into account. You should consider its appropriateness to your circumstances before acting on this information. Please read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.
Easy Retirement Account
Designed to make life easier for retirees and pensioners.
