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Free $50 for Opening Account & Making 1 Transaction @ People's Choice Credit Union

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The following come through the mail last week:
* $50 for opening an account using a referral code from an existing eligible member, and making at least one transaction on the account. The referrer also gets $50.
* According to their letter, there is no limit on number of referees, the whole idea is for the credit union to get as many new customers as possible.

IMPORTANT
* There is only one account in their offering that is completely fee-free and that is the Online Saver Account.
* If you apply for any other account, do it at your own risk and don't complain about the fees. Forewarned is forearmed.

Step 1: Sign up for a fee-free Online Saver Account

Step 2: Register your account with a referrer code.

Step 3: Deposit $2 into your new account via Internet Banking.

Step 4: Wait for $50 to be credited to your account. Net Profit = 50 minus 2 = $48

It can take up to two weeks to get the $50 payment into your new account.

For details, see their full terms and conditions from the sign-up page

My Referrer Code is MC216227.

Mod: Please use People's Choice referral wiki page to add your referral codes.

Related Stores

People's Choice Credit Union
People's Choice Credit Union

closed Comments

  •  

    I got some bad newz bro..

  • +1 vote

    Where did the $2 go??

    •  

      It turn into $50 in your account.

      •  

        it costs $2 to join Peoples Choice Credit Union, this should be in the description OP.

        • +2 votes

          Actually I've done this before, and you receive a $2 refund when you cancel your people's choice membership

          Having said that, there is a lot of fussing about, especially when it comes to providing id (they did a credit check on me if I recall correctly).

  • +1 vote

    and making at least one transaction on the account

    Does the withdrawal of the $50 count?

    •  

      Your $2 deposit will satisfy as one transaction. You can't have your cake and eat it too.

      •  

        in the conditions it says

        an eligible transaction or savings account between 5/1/2015 and 31/12/2015 and during this period conducts at least one transaction, not including the $2 share, on the new account.

        so…. please confirm?

        • +1 vote

          You can deposit $2.01 if you want to be safe or $2 and 1 cent in two separate transactions. It doesn't make much of a difference.

  •  

    I'm waiting for jv.
    I'm sure that this post had broken a few rules here.
    OP missed addition math class in primary school.

    $2 deposit
    $50 for opening an account using a referral code
    Balance should be $52

  •  

    dupe at the minimum

  •  

    hmm there was a $2 membership fee for signing up..so its $46 in total.

  •  

    How much messing around is involved in providing ID etc.?

  • OP - please check your mail for this offer and specify expiry date of the offer.

    •  

      1/7/2015 to 31/12/2015

      • $50 reward applicable where referee opens a new membership with People’s Choice Credit Union and an eligible transaction or savings account between 5/1/2015 and 31/12/2015 …

        I'll put in 31 Dec for now.

  •  

    anyone get their membership number yet?

  • +1 vote

    I got the same offer in the post this week also. Valid 1/7/15 till 31/12/15.

  • +3 votes

    Their verification process is asking for too many documents.If you have not been in Australia for more than three years, this might not be for you. They are asking for credit history verification, australian passport, medibank private healthcare verification number and so on.

    •  

      Pretty much if you don't have an Australia passport then don't bother. Other verification options carry little weight.

      •  

        Yup, would help if it is mentioned on the deal itself.

      •  

        Yes no online ID without passport.
        Even with 3 types of ID.
        Doesn't take medicare !

        •  

          How about:

          • Working with Children clearance card?
          • Firearm license?

          (Both have photo)

          • Cth gov't issued ACMA License (eg, Ham License)?

          (No photo, AFAIK)

          Is there a list of acceptable doc'ts
          (w/ point value of each?)

        •  

          @IVI:
          Sorry yes there is a very limited list of online documents.
          I got up to 74% giving them everything I possibly could.
          Decided to not give up, rang them up and they are sending a postal application,
          ID check can then be done at post office.
          Might not bother though.

      •  

        I dont have an Australian Passport either. But I was able to verify through phonebook, Drivers license and Credit history.I think you can only verify through phonebook if your current address is more than 3 years old.

        •  

          It's odd that a phonebook entry would be accepted.

          Can't a business register name-like strings
          as a white pages listing name?

          (Maybe a GST form with your address would work?)

        •  

          I dont know. I just clicked on phonebook, it just worked straight away.

    •  

      Credit history required just to authorise them to do Dunn & Bradstreet check. I ticked that, plus gave details of drivers licence and Aust Passport, and I was successful. Seems to be a bit more than 100 points of ID check though.

  •  

    How long does it take to receive the member number?

    • +1 vote

      From my experience, it took 1 business day. You may receive the number via email on Monday.

      •  

        thanks. Just got mine today.

        Any idea if new members can get referrer codes too? Initially I thought the referrer code was the member number, but it seems like they're different. The referrer codes start with MC but the member numbers are just numbers.

  • +2 votes

    Probably a n00b question but - does opening free transaction accounts like this (and possibly closing them later) have an effect on credit scores or ratings?
    I know applying for credit cards does, but not sure about transaction accounts or savings accounts.

    Thanks in advance.

  •  

    Never been asked for that much verification before! Passport run out so useless.

  •  

    The banks online security measures are over the top. Having to logon once every thirty days or have to call to have your account unlocked is a massive frustration.

  •  

    Sort of unrelated, but these guys have the most irresponsible ads on TV ever. Encouraging young adults or people on low paying jobs eg. maccas chick, to get a loan with them to buy brand new a high end lux sports car, just to look cool infront of the guys.
    The debt will be like herpes.

  •  

    Their verification process sux big time. Took me a few goes to finally get 100%.

  •  

    Seems almost too easy. Got 100% verification just from my license, electoral roll and credit check.

    Membership is being processed. It's too bad even the zip account has a $6 monthly fee (unless you deposit $2000 each month) so I just went with the OP's recommendation for the Online Saver only.

    Here's hoping I can make $48 out of it!

    •  

      Don't credit checks appear on your credit history every time?
      Can this impact your score?
      /paranoid.

  • +2 votes

    They're absolutely useless for transacting. Fees galore. See here

    • $0.30 for each declined transaction after the first one regardless of reason.
    • $0.25 extra per non-rediATM withdrawal (I thought those fees were illegal now but there you go)
    • $5 cash advance fee if you press Credit when withdraw cash at any ATM because apparently even though it's your money it's a cash advance according to them.
    • $5 per transaction if you happen to lose your wallet and therefore have no card ID and need cash out over the counter.
    • $20\year if you leave your account inactive.
    • $10 per replacement card unless the card was stolen.
    • Membership fee: $2, one off, charged at joining.
    • Redicard fee, $5 per year (excluding members under 18 years of age, members who use the SAAB service, memberships with only ‘two to sign’ accounts and Cards issued to signatory only members).

    Personally, it baffles me how People's Choice are still a thing considering that almost every other bank doesn't have these fees.

    • +2 votes

      Nice work 'douglasac10'. Thanks for all of the fee info.
      For information to all:- 'How to Close Your Account': if you only have one account with them and wish to close it, you cannot do it online. You would need to ring them on 131182.

    •  

      I had the Online Saver Account for over a year now. No fee whatsoever.

      I am happy to keep my Online Saver Account for life so I can refer my mates and gift them a free $50.

      The fees only apply to other types of accounts. (See page 12).

  • +1 vote

    Looks like it would be be best to shut down the account as soon as the $50 arrives.

    • +2 votes

      Worth noting that closing down isn't easy either, you have to fill in two hard copy forms and post them in, or scan and email.

  •  

    So, according to the sign up page https://www.peopleschoicecu.com.au/matemachine the $50 isn't credited to your account until you apply for it.

    Once you’ve become a member of People’s Choice Credit Union and made a credit transaction on your new account, make your claim by entering your details below including your new Member Number and your mate’s unique MateCode and you’ll both receive $50!

  • +2 votes

    WTF
    WTF
    WTF!!!

    Why is it asking for my tax file number on a page that is not protected by HTTPS?!
    http://www2.peopleschoicecu.com.au/membershipform/form.aspx?...

    EDIT: Now it's asking me to set a password over HTTP. I didn't give them a TFN.

  •  

    I applied 2 days ago and received an email with my account details today. They take the $2 from your account immediately, and so your balance will be your initial deposit less $2 for the $2 share. Pretty easy.

  •  

    I have successfully used OP's referrer code. Are we supposed to update the wiki referral page to say that we have used a referrer code - so that we can evenly spread around the joy?

  •  

    It took me 24hrs to get my account details. Just send the $2, once it's in I'll apply for the credit.

    I do agree the verification was a little painful: Passport, DL Number + Credit Check

  • +1 vote

    Current members can find their unique MateCode to pass on to friends and family at the end of their June 2015 Statement.

  •  

    Wouldn't one need to do another transaction as:

    $50 reward applicable where referee opens a new membership with People’s Choice Credit Union and an eligible transaction or savings account between 5/1/2015 and 31/12/2015 and during this period conducts at least one transaction, not including the $2 share, on the new account

  • +1 vote

    "Thanks for becoming a member and claiming your $50 on the Mate Machine. We’ll deposit $50 into your account soon after you make a credit transaction and become eligible. If you already have so, you will receive a confirmation e-mail once you are eligible for your $50 telling you when it will be paid into your new account."

    Executed three transactions ($2 + two others) but no confirmation e-mail?

    • +2 votes

      I transferred $2 then deposited another $10. Once the $10 showed up, I applied through the Mate Machine URL and got the same email reply you did. That was 2 days ago. I haven't received any other email telling me i'm eligible or if/when i'd get the $50.

  •  

    Um where do we find your own specific matecode to share?

    •  

      New account holders will need to wait for the next statement cycle when they will receive their bank statement and unique matecode.

  • -1 vote

    How do I make this transaction? Just use my debit visa card I get with the zip account? but then its not tied to the online saver so will it count?

    •  

      Once you've received the email with your Member Number, BSB and Account Number, just log in to your regular bank's Internet Banking site and transfer funds to your Online Saver account at People's Choice CU.

      The funds should appear the next business day.

      The Zip Account has a monthly fee unless you deposit $2000 in it each month (I think). Either way, it's not good value when you compare it to ING that has cashback on PayWave and is fee free, or Citibank which is fee free, even for international purchases (no currency conversion fee like most other banks).

      Has anyone here received the $50 since the deal was posted?

      •  

        Already does what you said before posting my question, will it work? because I did a transfer not a purchase. thanks.

        •  

          I think depositing money into the account counts as a transaction. I'm curious as to if/when they'll start paying everyone though!

  •  

    For some reason my $2 deposit was returned to my bank account - anybody know why?

    •  

      Check that you entered the BSB and Account numbers correctly.

      Did you receive an email like this…

      Welcome to People's Choice Credit Union.

      Your new Member Number: 6001XXXXX
      Our BSB: 805-050
      Your new account number(s): 1020XXXXX
      Your Member Number can now be used to log on to Internet Banking, along with the temporary Internet Banking password you supplied when you applied for membership online.
      Your new account(s) will now be visible in Internet Banking under the Accounts tab.

      Being a member of People's Choice Credit Union has many benefits, including:
      . Access to a great range of deposit, loan, financial planning and insurance products
      . An extensive branch and rediATM network
      . Access to Phone, SMS* and Internet Banking
      . A variety of exclusive member benefits

      As part of your membership application you were required to purchase a membership share of $2. To make this easy for you to do online we have already debited the first account listed above by $2. All you need to do to complete the membership process is make a deposit of $2 or more into this account to pay your share and your account will be ready for use!

      We hope you never leave us, but if you do close your membership, this $2 membership share will be refunded to you.
      Please note, the disclosure documents that were provided to you as part of your membership application can be viewed at any time online at peopleschoicecu.com.au/disclosuredocuments

      If you have any questions or require further information please get in touch with us by calling 13 11 82 or visiting your nearest branch.

      Kind regards
      The team at People's Choice

  • +1 vote

    Got my $50 credited today… thanks OP (I used your code).

  • +1 vote

    Likewise, just received the $50

  •  

    got mine as well:)

  •  

    opened on 20th, haven't received yet

  •  

    opened mine on the 21st, haven't received yet either

    for those that have gotten their $50, how much did you guys deposit?

    • +1 vote

      First transaction was $2, followed by a second one of $10 a few minutes later.

      I then waited a day until the $10 appeared in the account, and that's when I used the Mate Machine page and entered the info.

      I opened my account on the 18th so hopefully you'll get your $50 next week some time!

    •  

      Contacted them and was advised that I need to activate the VISA card and have one transaction in it.
      Now did a 1 dollar purchase, hopefully will receive within 5 days (as was told)

  •  

    recieved mine a few days ago… thanks! Had trouble with the id as I didn't have a file with the agency they used.

  •  

    Has anyone applied recently and received their $50? I applied and made two deposit about a week ago and haven't got my $50

    •  

      thanks for reminding me to check..

      08/10/2015 Mate Machine Effective Date: 18/09/2015 $50.00
      07/10/2015 Sent a message inquiring about the mate machine bonus
      09/09/2015 Direct Credit $2.00 <— Decided to deposit an extra $2 because the $50 hadn't appeared
      22/07/2015 Direct Credit $2.00
      21/07/2015 SHARE PROCESSING SHARE PROCESSING -$2.00

  •  

    Does anyone know if this is still going…?

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