In some instances we’ve been able to decrease or remove some fees by improving our systems and processes, while in others we’ve had to realign or increase our fees due to underlying costs. However, we’ve made sure that all our fees remain competitive.


To make sure you always know what to expect, below is a summary of all the changes effective since 1 October 2018, and you can find information on all our fees here.

 

General Banking

Fees reduced or removed

  • Online Regular Payment/Transfer Set-Up Fee
    Old fee New fee
    $2.00 Free
    What is this fee?

    If you use Online or Mobile Banking to set up a regular payment or transfer, this fee has been removed - it’s now free. 

  • Direct Debit Non-payment Fee
    Old fee New fee
    $7.00 $2.50
    What is this fee?

    If there’s not enough money in your account to pay the full amount of the direct debit at the time it’s processed, you’ll be charged this fee.

  • Cheque Dishonour Fee
    Old fee New fee
    $7.00 $2.50
    What is this fee?

    If there’s not enough money in your account to pay the full amount on the cheque at the time it’s processed, you’ll be charged this fee.

  • Fixed Loan Prepayment Administration Fee
    Old fee New fee
    $30 $15
    What is this fee?

    This fee is charged when you make a part or full repayment on a fixed rate home loan and you’re required to pay fixed loan prepayment interest. The fee covers the administrative assessment costs. This fee is in addition to any fixed loan prepayment interest payable.

Fees increased

  • Paper Statement Fee
    Old fee New fee
    1 free per month (then $2) 1 free per quarter (then $2)
    What is this fee?

    If you receive more than one paper statement per quarter, you’ll be charged this fee at the end of your statement period. All statements for loan and overdraft accounts are exempt from this fee. 

     

    How to avoid this fee

    To avoid this fee, either change your paper statement frequency to quarterly, or choose to receive electronic statements through Online Banking instead. If you don't have Online Banking, just give us a call on 0508 692 265 - we're happy to get you set up and talk you through the basics.

     

    change to quarterly switch to electronic
  • Bank Cheque Fee
    Old fee New fee
    $3.00 $5.00
    What is this fee?

    If you request a bank cheque, this fee will be charged at the time the Bank cheque is issued.

  • Loan Establishment Fee - Investor Lending
    Old fee New fee
    $250.00 $500.00
    What is this fee?

    This fee is charged at the time your investment loan is drawn down. The fee covers the costs of assessing your loan application, document production, security verification, facility drawdown and activation.

Fees introduced

  • WebSaver Staff-assisted Transaction Fee
    Old fee New fee
    $0 $3.00
    What is this fee?

    If you ask us to complete a transaction on your WebSaver account you’ll be charged this fee. This fee will be charged at the end of the calendar month.    

  • Staff-assisted Automatic Payment Set-up Fee
    Old fee New fee
    $0 $3.00
    What is this fee?

    If you ask us to set up an automatic payment, you’ll be charged this fee at the time it’s set up. Premier accounts are exempt from this fee.

  • Non-payment Fee
    Old fee New fee
    $0 $2.50
    What is this fee?

    If there’s not enough money in your account to pay the full amount of the automatic or regular payment at the time it’s processed, you’ll be charged this fee. Payments between your own accounts are exempt.

  • Cheque Book Service Fee
    Old fee New fee
    $0 $10.00 per annum
    What is this fee?

    If you use a cheque book, this fee will be charged on your account opening anniversary date. This fee covers the underlying costs to operate a cheque book.

     

    How to avoid this fee

    To avoid this fee, cancel your cheque book and consider using free forms of payment, like Online Banking.

     

    cancel cheque book

 

Business Banking 

Fees reduced, increased, or introduced

  • Commercial Lodgements to Other Banks
    Old fee New fee
    $5.00 $4.00
    What is this fee?

    If you deposit funds into another bank you’ll be charged this fee at the time of the transaction. 

  • Cash Handling Fee
    Old fee New fee
    $3 per $1,000 notes / $2 per $100 coins $3 per $1,000
    What is this fee?

    If you deposit more than $1,000 cash into your account, or order a change request over $1,000, you’ll be charged this fee at the time of the transaction. 

  • Revolving Credit Unused Limit Fee
    Old fee New fee
    0% 0.25%
    What is this fee?

    This fee is charged monthly to the revolving credit account on the last working day of the month. The fee covers associated maintenance and reporting costs and is calculated daily on any unused portion of the loan.