ANZ Bank recently launched a new banking package which links their low annual fee First Visa credit card with an everyday transaction account, Visa debit card, overdraft protection line, and online savings account.

The core of the new package, called ANZ Extras, is the transaction account and its associated Visa debit card. The account offers unlimited access to the ANZ ATM network as well as unlimited online, telephone, and branch banking transactions, including an optional chequebook.

The ANZ Extras package also offers nonbanking benefits, such as:
•    emergency assistance, either roadside or at home, available 24/7;
•    mobile phone insurance, which covers theft, loss, damage, or unauthorised calls;
•    discounts for dining and shopping, as well as exclusive offers for travel and accommodations;
•    travel insurance for domestic holidays; and
•    accidental death insurance.

The ANZ First Visa is a no frills credit card, without any expensive rewards program. It carries an annual fee of $30 and offers an introductory balance transfer offer of 2.9% p.a. for the first twelve months the account is open, for new applicants applying before 25 September 2010. The credit card has up to 44 interest free days on purchases, with interest rates of 18.99% p.a. on purchases and 20.74% p.a. on cash advances.

The ANZ Assured overdraft protection facility offers an extra $500 to cover unexpected shortfalls and prevent declined transactions, for a monthly fee of $5. The variable interest rate, currently 18.87% p.a., is applied only to credit accessed and there is no loan approval fee.

The final piece to the ANZ Extras package is an ANZ Online Saver account, which allows for transfers to and from the transaction account. There’s no fixed term, minimum balance, withdrawal fees, nor account service fee, and currently pays 4.5% p.a.

There is an $18 monthly account service charge for the ANZ Extras package.

Mandy Simpson, general manager of deposits for ANZ, believes the ANZ Extras package is unique in Australia.

“This is the first time a value-added transaction account of this kind is available in Australia,” she said. “It provides access to a wide range of banking and lifestyle products and services to help customers with everyday life, which could save them more than $750 a year.”

Source: http://www.anz.com/