Sustainability and Community

Help minimise and avoid fees

One of the most common complaints we get from customers is about fees. That's why we're doing something about them.

We've recently cut many of our exception fees to $9. This change allows us to bring you a fairer deal and is also simple to understand.

We've also put together the list of handy tips below, to help you avoid these sorts of fees altogether.

For more information about fees, you're best to check the Terms and Conditions, Product Disclosure Statements (PDS) or the Consumer Credit Cards Conditions of Use for your account, credit card or other product or service. And please ask us if there's anything you don't understand.

For help, simply visit a branch or call us on 132 032. For credit card enquiries, please call us on 1300 651 089.

Fees

Type	Previous Charge	New Charge From 1 October1	For these accounts
Account Overdrawn Fee When we honour a cheque or other debit and your account becomes overdrawn over the agreed limit	$40	$9	Transaction accounts Savings accounts Mortgage accounts Personal loans Business accounts and loans
Outward Dishonour Fee When your cheque, Direct Debit or periodical payment is dishonoured	$35 (personal) $50 (business)	$9	Transaction accounts Savings accounts Mortgage accounts Personal loans Business accounts and loans
Periodical Payment Not Made Fee When your periodical payment is dishonoured	$35 (personal) $50 (business)	$9	Transaction accounts Savings accounts Mortgage accounts Business accounts and loans
Inward Dishonour Fee When a cheque you deposit is dishonoured or a Direct Debit to your account is declined	$9.50 (Flexi Loan and Personal loans - fixed rate)	$9	Personal loans Flexi Loans
Missed Payment Fee or Charge/Default Fee When you don't pay by your due date	$35 (Credit cards, Flexi Loan) $25 (Personal loans)	$9	Credit cards Personal loans
Over-Limit Fee Each time you exceed your credit limit	$35 (Credit cards, Flexi Loan)	$9	Credit cards Flexi Loans

Note: Business accounts and loans includes business transaction accounts, business loans and business overdrafts.

Fees explained and tips that might help avoid them

Account Overdrawn Fee

What are they?

• On each day that we honour a cheque or other debit you've initiated that causes your account to become overdrawn, or increases an existing overdraft beyond the agreed limit, we charge you an Account Overdrawn Fee.
• This fee applies to any personal and business transaction and savings accounts, mortgage accounts or personal loan accounts that allow these transactions, unless you've made prior arrangements with us for this.
  

Tips that might help avoid them
The most common reason for Account Overdrawn Fees is a periodical payment or direct debit that has been set up, or a cheque is presented and there aren't enough cleared funds in your account to cover it. These tips might help:

• Check your balances regularly using Westpac Group branded ATMs, Telephone Banking, or Online Banking to make sure there are enough cleared funds to cover scheduled payments. (On certain accounts you may be charged for making more than 12 Telephone Banking enquiries per month, so check to see if a fee applies).
• If you've scheduled a payment to coincide with a deposit being made into your account (like your salary), then consider delaying your scheduled payment a day or two to ensure the deposit has cleared. That way, if you need to wait on the money going into your bank account, you'll have some time up your sleeve before your scheduled payment is due.
• Build yourself a buffer, a surplus balance that ensures you always have enough cleared funds available to cover scheduled payments.
• Check there are enough cleared funds in your account before you write a cheque.
• Set up your direct debit to draw from an alternate applicable account (e.g. credit card, loan account).
• Consider an alternative method of payment for scheduled payments, e.g. salary disbursement, BPAY® or Online Banking.
• Talk to us about a permanent overdraft facility.²
• Set a reminder in your diary, organiser, computer or mobile phone for the day before a scheduled payment is due. This way you can ensure there's enough money in your account to cover the payment.
• Use our Budget Planner.

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Outward Dishonour Fee and Periodical Payment Not Made Fee

What are they?

• We charge you an Outward Dishonour Fee or Periodical Payment Not Made Fee each time there's not enough money in your account to cover a cheque, direct debit or periodical payment.
• This fee applies to all personal and business transaction and savings accounts, mortgage accounts and personal loan accounts, that allow these transactions.

Tips that might help avoid them
Outward Dishonour Fees (and Periodical Payment Not Made Fees) are charged when a periodical payment or direct debit has been set up, or a cheque is presented and there aren't enough cleared funds in your account to cover it. These tips might help:

• Check your balances regularly using Westpac Group branded ATMs, Telephone Banking, or Online Banking to make sure there are enough cleared funds to cover scheduled payments. (On certain accounts you may be charged for making more than 12 Telephone Banking enquiries per month, so check to see if a fee applies).
• If you've scheduled a payment to coincide with a deposit being made into your account (like your salary), then consider delaying your scheduled payment a day or two to ensure that the deposit has cleared. That way, if you need to wait on the money going into your bank account, you'll have some time up your sleeve before your scheduled payment is due.
• Build yourself a buffer, a surplus balance that ensures you always have enough cleared funds available to cover scheduled payments.
• Check there are enough cleared funds in your account before you write a cheque.
• Set up your direct debit to draw from an alternate applicable account (e.g. credit card, loan account).
• Consider an alternative method for scheduled payments, e.g. salary disbursement, BPAY® or Online Banking.
• Talk to us about a permanent overdraft facility.²
• Set a reminder in your diary, organiser, computer or mobile phone for the day before a scheduled payment is due. This way you can ensure there's enough cleared funds in your account to cover the payment.

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Inward Dishonour Fee

What are they?

• We charge you a Cheque Dishonour Fee on your Flexi Loan account or your Personal Loan (fixed rate) account if you deposit a cheque to that account and it's dishonoured.
• We charge you a Declined Direct Debit Fee on your Flexi Loan account if a direct debit to that account is declined.

Tips that might help avoid them

• Check your balances regularly using Westpac Group branded ATMs, Telephone Banking, or Online Banking to make sure there are enough cleared funds to cover scheduled payments to your Flexi Loan or Personal Loan (fixed rate) account. (On certain accounts you may be charged for making more than 12 Telephone Banking enquiries per month, so check to see if a fee applies).
• If you've scheduled a payment to coincide with a deposit being made into your account (like your salary), then consider delaying your scheduled payment a day or two to ensure that the deposit has cleared. That way, if you need to wait on the money going into your bank account, you'll have some time up your sleeve before your scheduled payment to your Flexi Loan or Personal Loan (fixed rate) account is due.
• Build yourself a buffer, a surplus balance in your transaction account that ensures you always have enough cleared funds to cover scheduled payments to your Flexi Loan or Personal Loan (fixed rate) account.
• Check there are enough cleared funds in your transaction account before you write a cheque.

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Missed Payment Fee or Charge/Default Fee

What are they?

• If you've missed a minimum monthly payment on your credit card account, we charge you a Credit Card Missed Payment Fee or Charge. Depending on your type of credit card this fee will be charged to your account soon after the payment due date is missed or on the day the next statement is issued.
• Credit Card Missed Payment Fees or Charges apply to all credit card accounts.
• If you've missed a minimum monthly payment on your Flexi Loan account, we charge you a Missed Payment Fee. This fee will be charged to your account soon after the payment due date is missed.
• If you've missed a minimum monthly payment on your Personal Loan (fixed rate) account, we'll charge you a Default Fee. This will be charged to your account soon after the payment due date is missed.

Tips that might help avoid them

• Set up Autopay, a free service that automatically pays the minimum monthly payment or a nominated amount to your credit card, Flexi Loan, Personal Loan (fixed rate) account each month.
• Set a reminder in your diary, organiser, computer or mobile phone for the day before the monthly payment is due.

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Over-Limit Fee
What are they?

• If you make a transaction that takes you beyond your credit card limit, or if the balance of your credit card account is over its limit at the start of a statement cycle, we charge you a Credit Card Over-Limit fee.
• The fee is charged each time the credit limit is exceeded during a statement cycle.
• If your account balance returns below the limit, but then a further transaction pushes your balance over the limit, once again the fee will be charged.

Tips that might help avoid them

• Avoid the fee by spending within your agreed credit limit
• Check your balances regularly using Westpac Group branded ATMs, Telephone Banking, or Online Banking to make sure you've got enough available credit to make transactions without exceeding your credit limit.
• Talk to us about increasing your credit card limit.²
• Use our Budget Planner.

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