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Fee free, hooray! We’ve said no to account fees

17 Apr 2019

We’re excited to announce that we’ve officially removed ALL transaction and withdrawal fees from ALL of our transaction and savings accounts – effective from 1 April 2019!* 🎉

We’re obviously really excited about this news, but what does it mean for you?

We caught up with our Product Manager, Ben Thompson to discuss all things fee-free…

So Ben, how did the decision to remove all transaction and withdrawal fees come about?

We received feedback from our members about wanting low fees, good rates, extended hours of support and more digital banking services. So it’s something we’ve been working towards for a little while now.

What does this mean for our members?

By removing all transaction and withdrawal fees we’re not only rewarding our members with a little extra savings at the end of each month but we’re also providing members with fee-free digital banking platforms and new digital payment options options, such as Google Pay™, Apple Pay, Samsung Pay, Fitbit Pay and Garmin Pay™, which is the future of banking in Australia and around the globe. 

How does our fee-free service stand up against our competitors?

A few of our competitors offer a fee free banking service; however, this sometimes comes with a catch – like they require you to make a certain amount of transactions, hold a minimum amount of qualifying products or frequently deposit a minimum amount of funds. We don’t have any booby traps; all our accounts are fee-free for all of our members!

What accounts are fee-free?

All of our transaction and savings accounts including our;

Can you give us some examples of transactions that will be fee-free for our members?

Well it’s a long list but I’ll try my best to break it down for you.

Members can now perform unlimited transactions of the following, fee-free:

  • ATM withdrawals, transfers and enquiries* from over 10,000 ATMs across Australia including Commonwealth Bank, ANZ, Westpac, NAB and BankSA. But this will no longer include most rediATMs after 1 July, as we will be exiting the network.
  • Any withdrawals, deposits and enquires made at Australia Post [email protected] outlets.
  • All BPAY payments, direct debits and direct credits (we don’t want to make paying bills even more painful).
  • Transfers using your Mobile Banking App, Internet Banking or Phone Banking. This also includes instant transfers made with PayID and Osko, so you can pay for your share in seconds without worrying about any extra charges.
  • When making EFTPOS cash withdrawals, for example at supermarkets, department stores and petrol stations.
  • Visa debit purchases, EFTPOS purchases and Visa debit cash advances.
  • Plus, many more! Check out our full list of fee-free transactions and Terms & Conditions. 

If you have any questions about the removal of fees or changes to the rediATM network, don't hesitate to contact us, send us a Secure Mail message through Internet Banking or call (08) 8202 7777.

*We do not charge any fees when using ATMs within Australia. Your card is accepted at over 10,000 fee-free ATMs including most major banks, however some ATM operators may charge a fee to process your transaction or balance enquiry. If withdrawing cash overseas a fee may be charged by the ATM operator and the details will be disclosed at the time of the transaction or enquiry. Other fees and charges may apply. This is general advice only and you should consider the terms and conditions before determining whether any of our products are suitable to your situation.

Android, Google Pay, and the Google Logo are trademarks of Google LLC. Apple, the Apple logo, Apple Pay, Apple Watch, iPad, iPhone, Mac, Safari, and Touch ID are trademarks of Apple Inc ., registered in the U.S. and other countries. Samsung Pay is a trademark of Samsung Electronics Co., Ltd. Fitbit and the Fitbit logo are trademarks or registered trademarks of Fitbit, Inc. in the U.S. and other countries. Garmin Pay is a trademark of Garmin Ltd. or its subsidiaries.