Salary Benefit Card
The benefit card that delivers
Taking advantage of Fringe Benefits is a great way for community sector organisations to match salaries offered in the private sector.
With the CSB Salary Benefit Card, organisations can:
- manage which payments employees are eligible to make with their card;
- set and only deposit a pre-set amount on each debit card to reduce the incidence of over-spending.
For staff, The CSB Salary Benefit Card bundles more benefits. For example, as it is a VISA card it is widely accepted and backed with a worldwide replacement guarantee and it can be used to make periodical direct debits - such as home loan repayments.
In addition, employees are sent a detailed printed statement regularly, but can also access up-to-date statements daily on the Internet to view all transactions – so all cardholders can have the benefit of viewing and tracking their expenditure on a daily basis. An annual statement is also provided to employers at the end of each Fringe Benefits tax year. A full list of features is detailed below.
CSB has produced a Salary Benefit Card Common Questions and Answers document that provides further information.
| Product Features | |
| Statement | Monthly or Quarterly (or available on line) |
| Minimum to open | $1 |
| Interest calculated | Daily |
| Interest rate | 0.05% |
| Interest credited | Half yearly (1st April & 1st October) |
| Funds availability | At call |
| Phone banking | No |
| E-banking | No |
| BPay | No |
| Pay Anyone Service | No |
| Automatic payments | Yes |
| Account service fee | Yes (Refer to the Schedule of Fees, Charges and Transaction Account Rebates for Community Sector Banking Business Accounts ) |
| Telegraphic transfers | No |
| Business cheque facility | No |
| Payments card | Yes - No PIN used |
| Cashcard | No |
| Link Bendigo Visa or Mastercard credit card to the account | No |
| Transaction fees | No |
| Transaction Account rebates | No |
| Overdraft facility | No |
| General/other criteria | Only available to public benevolent institutions within the community sector. The account must be opened in the name of the non- profit employer with the nominated employee being the cardholder. No cash withdrawals or ATM withdrawals are permitted from the account. |
Download a copy of the CSB Salary Benefit Card brochure here (PDF 284 KB).