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Help minimise and avoid fees

One of the most common complaints we get from customers is about fees.

We've put together a 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 Charge For these accounts

Account Overdrawn Fee

When we honour a cheque or other debit and your account becomes overdrawn over the agreed limit

$9
  • Transaction accounts
  • Savings accounts
  • Mortgage accounts
  • Personal loans
  • Business accounts and loans

Balance transfer fee

A balance transfer fee of 1% of the transferred balance(s) will be charged to the 55 Day card account on the same day these balance(s) are debited to the account.

1% of the transferred balance(s)
  • 55 Day Credit Card account

Outward Dishonour Fee

When your cheque, Direct Debit or periodical payment is dishonoured

$9
  • Transaction accounts
  • Savings accounts
  • Mortgage accounts
  • Personal loans
  • Business accounts and loans

Periodical Payment Not Made Fee

When your periodical payment is dishonoured

$9
  • Transaction accounts
  • Savings accounts
  • Mortgage accounts
  • Personal loans
  • Business accounts and loans

Inward Dishonour Fee

When a cheque you deposit is dishonoured or a Direct Debit to your account is declined

$9
  • Personal loans
  • Flexi Loans

Missed Payment Fee or Charge/Default Fee

When you don't pay by your due date

$9
  • Credit cards
  • Personal loans.

Over-Limit Fee

Each time you exceed your credit limit

$9
  • Business credit cards
  • Personal credit cards opened before 4 June 2012
  • Flexi Loans

Duplicate Statement Fee

Each time you or the additional cardholder order a copy of a statement that has already been issued from your account

$7.50
  • Credit cards

Cash Advance Rate / Withdrawals Fee

Where your account has a negative (debit) balance after the transaction has been posted to it, an administrative charge of 2% of the value of the transaction will apply to each cash advance made on your credit card account. A maximum of $150 will apply.

Where your account has a positive (credit) balance after the transaction has been posted to it, a charge of $2.50 will apply to the transaction.

Any such charge will appear on your credit card statement directly below the relevant cash advance.

-
  • Credit cards

Foreign Transaction Fee

This is the sum of the Processing Fee and the On-Charged Scheme Fee

i. Processing Fee

Westpac Processing Fee:

We charge a fee of 2% of the Australian dollar value of any purchases or cash advances/withdrawals when the applicable credit card scheme converts the transaction from a foreign currency into Australian dollars.

-
  • Credit cards

ii. On-Charged Scheme Fee

Credit Card Schemes also charge fees when processing credit card transactions made in a foreign currency. These vary depending on the applicable credit card scheme:

  • 1% - Visa Worldwide Service Assessment Fee
  • 0.8% - MasterCard Issuer Cross Border Assessment
  • 0.2% - MasterCard Currency Conversion Assessment
  • 1.5% - American Express Foreign Exchange Conversion Fee
       
   

Cash Advance Rate / Withdrawals Fee

What are they?

An administrative charge of 2% of the value of the transaction will apply to each cash advance made on your card account, where your account has a negative (debit) balance after the transaction has been posted to it. A minimum charge of $2.50 and a maximum charge of $150 will apply in these circumstances. Where your account has a positive (credit) balance after the transaction has been posted to it, a charge of $2.50 will apply to the transaction. Any such charge will appear on your credit card statement directly below the relevant cash advance.

Duplicate Statement Fee

What are they?

A fee of $7.50 may be debited from your credit card account, if you or an additional cardholder order a copy of a statement that has already been issued for your account. This fee is debited from your account on or after the day you order the duplicate statement.

Foreign Transaction Fee

This is the sum of the Processing Fee and the On-Charged Scheme Fee.

Westpac Processing Fee

We charge a fee of 2% of the Australian dollar value of any purchases or cash advances/withdrawals when the applicable credit card scheme converts the transaction from a foreign currency into Australian dollars.

Westpac On-Charged Scheme Fee

What are they?

The Credit Card schemes also charge fees when processing Credit Card transactions made in foreign currencies. The fees are either charged during the process of converting the foreign currency amount into Australian dollars, or are charged separately to Westpac and passed on to you by us. The fees vary depending on the applicable Credit Card scheme.