How to apply for Personal Premium Unlimited Plan

Servus, a reliable credit union, allows its customers to open different personal chequing accounts, such as Unlimited, Plan 60 and e-Plan 60. Personal Premium Unlimited is one such plan with distinct features and advantages. It is the best plan for those who need frequent access to their accounts for various transactions.

 From Interac-e-transfers to in-branch transactions, everything can be done without any restrictions. The plan imposes a monthly charge of $25. You can avoid this charge by maintaining a $5,000 minimum balance. The plan lets you make 10 non-credit ATM withdrawals free of cost. You can compare its features to other Servus Credit Union plans.

About Servus Credit Union

Founded in Alberta, Servus Credit Union is a cooperative financial institution that has been operating its business since 1938. So, Servus Credit Union has been providing its services for more than 83 years. Today, it has become one of the leading financial players in Canada. Its aim is to maintain the good financial status of its members. In Alberta, it ranks first as the largest credit union. But, in Canada, it ranks 4th in terms of size. Servus currently has 100+ outlets. Now, the number of member owners of this financial organization has crossed 380 thousand.

Several Albertans chose Servus for financial assistance. Its asset size has also increased at a significant rate. Every year, members get a share of its profit in cash. So, having a membership of Servus lets you obtain several benefits. Servus lets you open different types of legacy accounts, such as Personal Plan-30, Personal Plan-60, and Personal Premium Unlimited Plan.

Benefits of the Personal Premium Unlimited Plan

The biggest benefits available with the plan are–

• Use ATMs without surcharge– Being a Servus member, you can access 100+ Servus ATMs in Alberta. The plan also lets you use ding-free ATMs in the country. Choose these ATMs to make cash deposits, cheque deposits, bill payments, and fund transfers between Servus accounts. Besides, you will be able to check your account balance from these ATMs.
• Mobile cheque deposit– Servus has saved your time and effort, as it lets you deposit cheques directly from its mobile app. So, if the Canadian Government or Financial institution has issued any cheque, you can submit it through the mobile-friendly banking app. Besides, certified cheques, bank drafts, and money orders can be deposited in this way. Your account will reflect the deposited money. However, you should wait for verification of your cheque.
• Overdraft protection– The Personal Premium Unlimited Plan ensures overdraft protection that covers debits and cheques. You avoid the risk of non-sufficient fund charges. If your account is overdrawn, the overdraft will cover the amount. The maximum limit for your credits is $5000.
• Deposit guarantee– As there is a Deposit Guarantee Corporation of Servus, the deposit of your money is 100% guaranteed. So, the amount you have deposited and the interest you earn will be secure.
• Pre-Authorized Contribution– It is the best money-saving solution that helps you with better budgeting. There will be a scheduled transfer of an amount to your savings account. It means you can strategically save money for future purchases. As you automatically save part of your monthly earnings, it ensures financial stability. 
• Profits Share– With the Personal Premium Unlimited Plan, you will be able to join the Profits Share program. Servus lets you win cash rewards for everything, including investments and mortgages. With your regular banking activities, you can gain more rewards.

Prerequisites for Premium Unlimited Plan users

There are very simple prerequisites to applying for a Personal Premium Unlimited Plan. Make sure that your age is not less than 18 years. Besides, you should be a resident of Alberta. Or the distance between the branch of Servus Credit Union is not more than 75 km. So, you should fulfil these prerequisites before applying for the personal plan of the credit union.

Who is the Personal Premium Unlimited Plan for?

Personal Premium Unlimited Plan is perfect for those who want a legacy account that allows unlimited transactions. The flexibility that comes with this plan is highly advantageous for customers.  

The Premium Unlimited Plan is also suitable for customers who need to make frequent access to their accounts. Moreover, if you want to make various types of transactions for different purposes, you can choose this special plan. But, ensure you are ready to pay a monthly fee consistently.

Besides, the card is designed for those who use non-credit union ATMs regularly and frequently. Users should also be able to maintain a considerable balance every month. 

How to apply for the Personal Premium Unlimited Plan

It’s very easy to apply for the plan online on the credit union’s official website. The new account can be created in just a few minutes.

Before starting the application process, the website will ask you a few questions (Are you a taxpayer outside Canada? / Are you a national or a foreigner?).

You will then be asked to choose the type of account.
Tap on the Unlimited Premium Personal Plan to access your account and have access to a variety of transaction types and if you want the peace of mind of unlimited transactions, including Interac wire transfers for a consistent monthly fee.
You can also select other Servus credit accounts, for example you can select the type of joint account if required. You must also choose the reason for creating the account.

The credit union will ask you to provide some basic details

Legal name and surname
Title
Gender
Preferred name
Date of birth
Social security number – This number is important to verify your identity.

Submit these details online and create your Servus Credit Union account

How to unlock the Personal Premium Unlimited Plan

You should open a personal account to apply for the Personal Premium Unlimited Plan at the credit union. There are no strict criteria to be fulfilled for having the plan. The minimum age of the applicant should be 18 years. You can create your account and claim the plan online.

Pros and cons of Personal Premium Unlimited Plan

Personal Premium Unlimited Plan is advantageous for several reasons. 

• Low membership costs – One of the advantageous aspects is that you need to pay only 1 dollar per account owner. It will get transferred to your Membership Equity Shares.
• High-yield saving options – While creating the account for the Personal Premium Unlimited Plan, the credit union lets you choose the high-yield saving option. It involves savings with higher transaction charges.
• No restrictions over fund transfers – With a Personal Premium Unlimited Plan, it is easy to transfer money from one Servus account to another.

One of the negative aspects is that you need to have a significant balance to avoid the monthly charge for this plan.

Annual charges for the Personal Premium Unlimited Plan

If you have chosen the Personal Premium Unlimited Plan, you should learn about the fees associated with it. The monthly fee charged for this plan is $25. However, if your monthly minimum balance is $5,000, the credit union will waive the monthly charge.

In case of other personal plans, you need to pay a certain transaction charge. However, with the Personal Premium Unlimited Plan, you can make unlimited transactions. 

If you have cancelled Interac e-Transfer for any reason, the financial institution will charge $5. The grace period for this activity is 1 hour. For foreign transactions, the charge imposed is $3.00.

As a Premium Unlimited Plan user, you can avoid paying a charge for cover drafts, AOD utilization, and fund transfers. Official cheques can also be used without an extra charge.

Customer services of Servus Credit Union

The customer service team at Servus Credit Union is ready to serve you and solve your queries. You can contact these representatives by making a phone call at 1.877. 378.8728.