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Help minimise and avoid fees

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Account Overdrawn fee


If your account becomes overdrawn over the agreed limit, you'll be charged an account overdrawn fee.

To avoid this fee:

  • Keep an eye on your account balance and plan your purchases accordingly. Use Westpac Online Banking to monitor your balance on the go.
 

Outward Dishonour fee

When your cheque, Direct Debit or periodical payment is dishonoured, you'll be charged an outward dishonour fee.

To avoid this fee:

  • Check your balances regularly to ensure there are sufficient funds to cover your payments.
  • Build yourself a buffer of cleared funds.
  • Schedule payments a few days after regular deposits, like your salary, are made.
 

Inward Dishonour fee

When a cheque you deposit is dishonoured or a Direct Debit to your account is declined, you'll be charged an inward dishonour fee.

To avoid this fee:

  • Check your balances regularly to ensure there are sufficient funds to cover your payments.
  • Build yourself a buffer of cleared funds.
  • Schedule payments a few days after regular deposits, like your salary, are made.
 

Over Limit Fee

If at the monthly anniversary, your Flexi loan account is over the assigned credit limit, an over limit fee will be charged to your account on or after the statement due date.

To avoid this fee:

  • Keep an eye on your account balance and plan your purchases accordingly. Use Westpac Online Banking 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.
 
Prepayment/ Exit fee

This fee is only applicable to Unsecured Personal Loans and Car Loans when the loan term is greater than 2 years but the loan is paid out in less than 2 years. It will be charged on the day you pay out the personal loan and can be waived if you refinance your existing loan with another Westpac Personal Loan.
 

Missed Payment Fee

If you don’t pay the minimum monthly payment by the due date on your contract/statement, you’ll be charged a missed payment fee within 5 business days of the statement being due.

To avoid this fee:

  • Make sure you pay the minimum monthly payment by the due date each month;
  • Download the Westpac Mobile Banking app to keep track of your account;
  • Set up a direct debit so you never forget to make the payment.
 
Declined Direct Debit Fee

When a direct debit that has been authorised by you is declined, a declined direct debit fee may be charged on the date of the transaction or on the next business day.

To avoid this fee:
  • Check that expected deposits, like your salary, have been made into your account,
  • Download the Westpac Mobile Banking app to keep track of your account;
  • Be aware of the timing of payments, to ensure your account can cover them.

Bank Cheque Fee

If you require a bank cheque, a bank cheque fee may be payable. This fee can be paid up front, debited from your loan account or from your Westpac transaction account. This will be charged on the date of the transaction or the next business day.

To avoid this fee:

  • Ask the person or service provider you are paying if they will accept an electronic transfer payment into their account instead.
 

Cheque Dishonour Fee

If a deposited cheque is dishonoured by the Bank, a cheque dishonour fee may be charged to the loan balance on the date of the transaction or the next business day.

To avoid this fee:

  • Check your balances regularly to ensure there are sufficient funds to cover your payments to your personal loan.
  • Build yourself a buffer of cleared funds.
  • Schedule payments a few days after regular deposits, like your salary, are made.
 

Information Fee

If the Bank received any request for information about your account or the contract provided in writing, an information fee may be payable. The fee can be paid upfront or debited from the loan balance on or after the next business day we complete the request for information.

To minimise or avoid this fee:

  • Keep any loan contracts and your account information somewhere secure so that you can refer to them at a later stage
  • Use Westpac Online Banking or Westpac Mobile Banking app to check if the information you’re after is readily available.
 

Duplicate Statement Fee

If you request an extra paper copy of a statement that has already been issued, you may be charged a duplicate statement fee. This fee is payable upfront or on or the next business day after you order the duplicate statement.

To avoid this fee:

  • Westpac Online Banking allows you to conveniently download and print the statement yourself.
 

For more information about fees, simply visit a branch or call us on 132 032.