Aust. banks compete
NZPA-AAP Melbourne Australian customers of the ANZ Bank are being offered free cheque accounts, a high interest savings account, and an “electronic Bankcard.” The package comes in response to moves by other major trading banks since restrictions on bank term deposits and most interest rate controls were removed on August 1. It will provide qualifying customers with a high interest “Access" savings account, a cheque account with no bank charge subject to a minimum quarterly balance of sAust2oo, and an electronic Bankcard. ANZ’s chief general
manager, Mr Will Bailey, said the electronic Bankcard could be used for normal credit transactions and would allow customers to make cash transactions at the ANZ’s automatic teller machines. The new look Bankcard would soon be available for use at the ANZ’s point of sale trading outlets. The package will be available to customers from September 3. Both the Commonwealth Bank and the National Australia Bank have said they will pay interest on cheque accounts in response to deregulation moves, while Westpac has charge-free cheque accounts.
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Press, 15 August 1984, Page 38
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174Aust. banks compete Press, 15 August 1984, Page 38
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