Westpac unveils new service

BANKING with Westpac will be a lot easier with the introduction of the new transaction account called “choice basic” that was launched last August.
It was designed to meet the needs of people with a modest balance and low transaction needs.
There was no monthly fee and customers would only pay according to the transactions they make.
Westpac head of retail banking Adam Downie said the product was created primarily to meet two gaps in PNG market.
He said this was part of the bank’s approach to “bank the unbanked” and caters for those with low income through transaction fee instead of a flat monthly fee
“With the ‘choice basic’ account, a customer can open an account with a letter from their local village court magistrate or from the head master of a primary or high school,” Downie said.
A customer receives a Westpac “handycard” after opening a “choice basic” account which helps a lot in electronic banking using ATM, Eftpos, online and mobile banking.
A K1.50 fee is   charged for ATM or Eftpos transaction.
Customers who want to open up accounts can visit their nearest Westpac branch for an application form and further information for an account that will best suit your needs.
The maximum balance to activate the account is K2 and the maximum is K5,000.