Editorial Note: Comparewise is supported by our readers. When you find products and services through links on our site, we may earn commission.
As people age, their financial needs and goals change. To cater to the needs of older people, many banks and credit unions offer specialized accounts with exclusive features and benefits. One of such offering is the Meridian Credit Union Senior Chequing Account.
This account is designed for seniors and is packed with perks to make banking more accessible and more convenient.
If you or someone you know is a senior looking for a reliable and affordable banking solution, read on to find out more about the Meridian Credit Union Senior Chequing Account.
What is a Meridian Credit Union Senior chequing account?
A Senior Chequing account is a personal chequing account tailored to Seniors’ needs, defined here as people aged Sixty (60) or older.
A senior chequing account is ideal for retirees who have worked hard and now have the time to enjoy the fruits of their labour. There are benefits to having a senior chequing account that might sway your decision to establish one.
People who open a Senior chequing account are eligible for a number of benefits, including no monthly maintenance costs, free transactions, free certified cheques, the ability to order free checks, and the provision of free paper statements, amongst others.
Benefits of Meridian Senior chequing account
Having this account grants you access to the following perks;
Zero monthly fees
Opening a senior chequing account means you do not have to pay monthly fees to enjoy the benefit. If you are old enough, consider opening a senior chequing account with zero monthly fees.
This can help you save money on your banking costs and make it easier to manage your finances.
Interac e-Transfers
In order to take advantage of Interac e-Transfer, you will be required to open an account with your credit union.
The Senior chequing account offered by Meridian Credit Union enables its members to receive up to four free Interac e-transfers every month. After that, a member is subject to a cost for subsequent Interac e-transfers.
You don’t have to write a cheque or make a trip to the bank if you use Interac e-Transfers since it’s a secure, quick, and simple method to send and receive electronic money payments.
Free monthly paper statements
Senior chequing account offers its members free monthly paper statements. Monthly paper statements are a type of financial statement that credit unions and other financial institutions send to their customers on a monthly basis.
The paper statement consists of a list of all transactions in your account during the month, including deposits, withdrawals, payments, and fees.
Free bank drafts
A bank draft is a payment method whose worth is guaranteed by the credit union or bank that issued the draft. In contrast to a cheque, a draft has a higher level of security since the money is taken out of your account before it is released.
This ensures that the draft recipient will have access to the money promised. To get a bank draft, you must physically visit your credit union. But the credit union will only give you the draft if they see that you have sufficient cash in your account.
When you have a Meridian senior chequing account, you are entitled to get four free bank drafts each month. On the other hand, these complimentary bank drafts may only be used for payments made in Canadian dollars.
Bank drafts are a reliable and versatile payment option since the money may be used for any purpose, no matter the recipient’s location. So with bank drafts, you can be certain that your money will be available to cover a wide range of expenses, no matter where you are.
Free Basic cheque order
A basic cheque order is a request to your credit union to issue a new supply of cheques. The number of cheques you can order will vary depending on your bank’s policy.
When requesting a basic cheque order, include the number of cheques you want or go with the credit union’s policy. Additionally, you can choose the cheque style you want.
A senior chequing account offers its members one free basic cheque order annually.
You might also like…
