One of the most common complaints we get from customers is about fees. To help you better understand them and also minimise and even avoid fees on transaction or loan accounts, we've put together a list of handy tips below.
For detailed information about fees, you're best to check the Terms and Conditions, Product Disclosure Statements (PDS) or Conditions of Use for your account, product or service. And please ask us if there's anything you don't understand.
|Fee type and account||Amount1
||Tips to avoid this fee|
Account overdrawn fee
Applies when we pay a cheque or other debit and your account becomes overdrawn or exceeds the agreed limit.
|Outward dishonour or periodical payment not made fees
When your cheque, direct debit or periodical payment is dishonoured due to not having enough money in your account.
Applies to home, personal and business loans.
|Inward Dishonour Fee
When a cheque you deposit is dishonoured or a direct debit to your account is declined. Applies to personal and flexi loans.
Note: Business accounts and loans includes business transaction accounts, business loans and business overdrafts.
Things you should know
1. This is not applicable to Westpac Institutional Bank customers. If any of these fees do not currently apply to your Westpac account or they are already equal to or less than $9, there will be no change to your current fee arrangements from 1 October 2009.
2. Permanent overdraft facilities and credit limit increase applications are subject to the Bank's normal lending criteria.
This information is current as at 1 October 2009.