Bank Accounts With Passbooks
Bank accounts with passbooks are hard to find these days.
For the younger among us, a passbook is something you may have never had to use when conducting your banking. However for many older Australians, the passbook was the only way to access their money, and for most it still is their preferred choice. However most of the banks now don't offer passbooks to new customers, making it impossible for those who want to keep their passbook way of banking to switch banks!
We've done some digging and found a few banks that still offer passbooks to new customers. As well as these, you might have some luck with smaller banks and building societies. Although these will only be good if your local shopping centre has a branch which is convenient to access.
Bank Accounts With Passbooks Available
Retirement Access Plus Account
- To open this account you have to be over the age of 55
- $0 monthly account keeping fee
- Free monthly transactions - 8 per month if balance is under $20,000, otherwise unlimited free transactions.
Retirement Passbook Account
- Only available if you are a self-funded retiree or a recipient of a government pension and over the age of 55
55 Plus Account
- Exclusively for those over 55 (or if you're opening a joint account with someone who is.)
Time To Switch To A Debit Card?
If you decide you want to switch over to using a card instead of a passbook, most banks will let you do so for free, and will also be very helpful in showing you everything you need to know about using the cards.
You'll save time, and money by using a card instead of a passbook. Using EFTPOS to pay for things instead of cash, means you won't lose little bits here and there anymore, all that change will be sitting in your bank account instead of in the bottom of your handbag.
It's also safer, especially for the elderly, instead of carrying around a lot of cash, you only need to carry a card around. Even if you still prefer to pay with cash, you only have to get out a little bit at a time, as you need it, instead of the whole fortnights pay at once, carrying around hundreds of dollars with you.
Check some other bank accounts, with cards available, on our bank account comparison page.