Goodbye to Transaction Fees
Friday, 19 January 2018
Since we removed the $2 ATM transaction fee (excluding CashCard and Travelex ATMS) in November, we have further reviewed our transaction fees overall and we’re making additional changes to simplify the way you bank with us.
We’re pleased to announce that from 1st March 2018 we are removing transaction fees from your everyday banking.
These changes will provide you with unlimited free electronic withdrawals including direct debits, BPay, external transfers and EFTPOS, as well as increased access to ATM fee free transactions, at over 13,000 vendors nationally.
Effective the 1st March 2018, the following changes will be made to our fees and charges:
- Qudos Bank will not charge transaction fees for withdrawals and, as a result the transaction allowance will no longer apply;
- If an ATM owner charges a fee to use their ATM this charge will be passed on to you and will be debited to your account; and
- The following other changes will also apply;
|Member cheque book||When you order or renew a book of Member cheques||$10.00 for a book of 25 cheques|
|Card replacement||Order a replacement card||First 2 free, then $10.00 per card|
|Corporate cheque||Order a Qudos Bank Corporate cheque||$5.00 per cheque|
Other fees and charges have not changed.
For further information, please see below FAQs.
|Which ATM networks charge fees?|
Some independent ATM networks (within Australia and overseas) may charge a fee for cash withdrawals and balance enquiries, for example CashCard, Travelex and some ATMs situated inside pubs, clubs and hotels. Please remember any fees charged will be advised and require acceptance at an ATM at the time of your transaction.
|What will I be direct charged for?|
If an ATM owner charges a fee to use their ATM this charge will be passed on to you and will be debited to your account. Any other fees and charges outlined in our Fees and Charges brochure will also be direct debited from your account where applicable.
|What’s considered a free electronic withdrawal?|
Eftpos transactions, Online Banking transactions including Direct Debits and Credit, auto transfers, BPay, and account transfers to another financial institution.
|What other transactions are now considered free?|
We’ll no longer deduct $2 for assisted withdrawals over the counter, declined transactions or individual cheques written.
|Do I still need to press credit at Eftpos terminals?|
Under the old transaction allowance structure, “pressing credit” when using Eftpos was classed as a free transaction, whilst “pressing savings” was attributed to a deduction from your transaction allowance. With the allowance being removed you can use either option free of charge. Please note some merchants may charge a fee for Visa card transactions.
|What about balance enquiries?|
Qudos Bank won’t charge for balance enquiries, however some independent ATM networks (within Australia and overseas) may charge a fee for cash withdrawals and balance enquiries, for example CashCard, Travelex and some ATMs situated inside pubs, clubs and hotels. Please remember any fees charged will be advised and require acceptance at an ATM at the time of your transaction.