Minimising fees and charges

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

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.

• Make sure you pay the minimum monthly payment by the due date each month
• Use Card Autopay to pay your credit card each month:
  
  • Altitude Business Platinum or Gold credit cards
    • Download the Card Autopay request form (PDF 76KB)
    • Fax the completed form to (02) 9055 3687 or take the completed form to your nearest branch.
  • BusinessChoice credit cards
    

  If you have a BusinessChoice Everyday credit card or Rewards credit card:

•    Download the BusinessChoice Card Autopay request form (PDF 135KB)
•    Fax the completed form to (02) 9055 3598 or take the completed form to your relationship manager or nearest branch.

Cash advances

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

If your credit card account is in credit (has a positive balance) after a cash advance transaction, a flat fee of $2.50 is payable.

If your account is in debit after a cash advance transaction, you will be charged 2% of the cash advance amount, with a minimum fee of $2.50 and a maximum fee of $150 ($75 for BusinessChoice Everyday).

Over-limit fee

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.

• 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 of 2,900 ATMS across Australia (including any St.George, BankSA and Bank of Melbourne ATMs) with no ATM fee charge.

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.