Spending and saving: Make it work for you

How much have you spent today? $4.50 on your daily long black? $64 on fuelling up the car? Now for the more important question… How much have you saved?

We know. Money comes and goes. And sometimes it goes faster than we would like. But, what if we told you there’s a way for your spending to actually boost your savings? That would be nice, wouldn’t it?

Well, let us introduce you to the P&N Bank Savvy Saver account…

Savvy saving starts here

Our Savvy Saver account is here to help you reach your money goals, by rewarding you with bonus interest when you spend on your transaction account. Spending and saving? Here’s how it works:

1. Open a Savvy Saver account and link it to your P&N Bank & Transaction account.
2. Put some money in your new Savvy Saver – there’s no minimum, so a dollar will do!
3. Deposit at least $500 to your & Transaction account each month – the easy way to do that is have your salary paid in.
4. Make a minimum of five card purchases using your linked & Transaction account during the month – digital wallet taps count!
5. Watch your interest rate on your Savvy Saver account hit bonus level, and your savings grow.

The benefits of being a savvy saver

You may be wondering, “What’s the catch?”. Well, we don’t think there is one, and here’s why:

• You can open both an & Transaction and a Savvy Saver account with no minimum balance.
• There are no monthly fees attached to either account.
• You can access your money in your Savvy Saver account whenever you want, without penalty. That means, you won’t miss out on your bonus interest if you need to dip into your savings – as long as you’ve met the above criteria using your & Transaction account, of course.

Even more ways to be savvy

Have you heard about Pay&Save? It allows you to save even more as you spend, and the great news is that you can take advantage of it when you have a Savvy Saver account!

With Pay&Save you can choose to round up the cost of your everyday in-store purchases on your & Transaction account to the nearest $1, $5 or $10, and automatically save the difference. It’s like saying “keep the change” to your savings account every time you buy something.

Here’s an example rounding up to the nearest $5:

Pay&Save is automatic, convenient, and it’s possible you’ll forget it’s even set up. It’s a savvy way to save smarter – and goes hand in hand with the P&N Bank Savvy Saver account.

Oh – let’s not forget about mymo by P&N Bank either. It’s another great way to put your money smarts into action!

The free money management app helps you get a clear picture of your finances so you can set and reach your financial goals with ease. Link up your P&N Bank accounts (and any others you may have) and you can get reminders about upcoming bills, track your budget and potentially even see where you can make some extra savings or pay off debts quicker. Nice!

Ready to save the savvy way?

If you’re ready to make your spending and saving work better for you, then you can open a Savvy Saver account online or in one of our 12 metro branches. We’re here to help, so if you have questions, get in touch.