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Minimising fees and charges

The following simple steps are ways you can easily minimise or even avoid credit card fees altogether.

Annual Card Fee

Depending on the type of card you have, there may be an annual Card Fee. As a rule of thumb, the more rewards or features your card has - such as rewards points or complimentary insurance - the higher the annual Card Fee is likely to be.
  • Take a look at the features you actually use on your card. If you don’t use them, you might want to consider a card with fewer features and a lower annual Card Fee.
  • For BusinessChoice Everyday cards the annual Card Fee is waived for each individual card where spend has been $15,000 or more in the previous year.

Missed Payment Fee

On or before 21 November 2021, if you don’t pay the minimum monthly payment by the due date on your statement, you’ll be charged a $15 missed payment fee. On or after 22 November 2021, the Missed Payment Fee is $0.

Cash advances

Cash advances are cash withdrawals from your credit card account at any ATM, merchant facility or any Westpac branch.

A fee of 3% of the cash advance amount will be charged to your account. This will appear on your credit card statement directly below the relevant cash advance.

Overlimit Fee

On or before 21 November 2021, there's a $15 fee every time you exceed your credit limit during a statement cycle. The fee may also be charged whenever your account is over the limit at the beginning of a statement cycle. On or after 22 November 2021, the Overlimit Fee is $0.

  • Keep an eye on your credit card and facility balance and plan your purchases accordingly. Westpac Online Banking and the Westpac Mobile app can be used to monitor your balance on the go.
  • Make an interim payment if you’re getting close to your limit, which could reduce the risk of going over your credit limit on future spending in that month.

Foreign transaction fee

A Foreign Transaction is any Purchase or Cash Advance made using the Card:

  • in a currency other than Australian dollars; or
  • in Australian dollars or any other currency with a Merchant located outside
    Australia; or
  • in Australian dollars or any other currency that is processed by an entity
    located outside Australia.

Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.

A Foreign Transaction Fee is payable as a percentage of the Australian dollar value of any Foreign Transaction.

The percentage will vary depending on the applicable credit card scheme:

Transactions in foreign currency

  • Visa and Mastercard®: 3.0%

Transactions in Australian dollars and the merchant or financial institution accepting the card is
located overseas:

  • Visa and Mastercard: 3.0%

Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.*

Non-Westpac Group ATM fee

Although not a Westpac fee, using your card in a non-Westpac Group ATM may result in a charge to you.

Luckily, you can use Westpac’s extensive network across Australia (including any St.George, BankSA, Bank of Melbourne or select Westpac Group partner ATMs) with no ATM operator fee.

Find a Westpac Group ATM.

Credit card surcharge

In some instances, businesses may administer a ‘surcharge’ for credit card payments. Usually, these are a percentage fee of your purchase amount.

It’s a good idea to always ask about any surcharges with the use of your credit card before paying, as these fees can built up.

Things you should know

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