It’s All About Choice For Student Pac Customers

It’s All About Choice For Student Pac Customers

Helping students manage their finances and avoid debt is a major feature of Westpac’s ‘Student Pac’, which gives tertiary customers a choice as to how they want their banking structured.

Westpac is the only bank in New Zealand offering students a Debitplus Visa Card which can be used to make purchases over the Internet, by telephone and via mail order while drawing on the customer’s own money rather than accruing debt.

With Westpac’s ‘Student Pac’, customers have a variety of account options including no transaction fees, an EFTPOS or Debitplus Visa Card and they can apply for access to additional lending with either a credit card or interest free overdraft of up to $2,000 depending on their year of study.

Having a say in the set up of their bank account and thinking beyond the free signup incentives should be a key consideration for students pursuing tertiary study says Natalie Davis, Westpac’s Segment Manager, Future Value Segments.

“University students face a number of financial challenges with many being financially independent but without substantial income,” says Ms Davis.

“We have therefore structured ‘Student Pac’ to provide students with a number of choices in terms of products and services without the increased financial burdens of multiple debts and fees.

Westpac’s ‘Student Pac’ includes an interest free overdraft or credit card or a combination of the two within structured limits to ensure students can afford what we’re lending them. Students can also choose between a credit card or the new Debitplus Visa Card which can be used in exactly the same way as an EFTPOS card, but with the added functionality of a Visa Card that draws funds from the customers transaction account, rather than creating debt.

“For example, now you can buy movie tickets online, and pay for them straight out of your own transaction account,” said Ms Davis.

Continuing on the theme of choice Westpac is offering Student Pac customers a choice of six different sign up incentives including Playstation 2 games, Huffer wallets, NZ Girl VIP discount card and T-Box tank tops.
Westpac Westies
This year Westpac is having fun with the promotion of its ‘choice’ Student Pac with a number of staff releasing their inner bogan and dressing up as the Westpac Westies.

The Westpac Westies, with the mandatory mullet hairdos and tattoos, will be visiting a number tertiary institutions around the country promoting the ‘Student Pac’ offer and providing entertainment for students including setting up Westie lounges, turning a horizontal bungee into a ‘Westie wedgie’ and a pig on a spit.

Westpac is also giving away, free to students, copies of their Jump Start guide. The Jump Start guide is filled with practical financial advice, tips and checklists aimed at helping customers who are studying, graduating, starting work, flatting, buying a car and going on an OE.

ENDS

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