HOW TO AVOID UNNECESSARY ATM FEES

According to news.com.au consumers who use non-network ATMs paid $660million in mostly unnecessary fees last year.

When a member uses an ATM which is not within our network, foreign ATM fees are charged to them by the ATM operator.

Paying these fees can often be avoided yet the Australia Banking Association says 40% of all ATM transactions in 2011 were made from a foreign ATM.

As a Mutual ADI (Credit Union, Building Society or Mutual Bank) we are owned by our members, therefore our members’ financial wellbeing is very important to us.

For our members’ convenience we are partnered with RediATM, one of Australia’s largest ATM networks. The RediATM network has over 3,400 ATMs nationwide which members can access for free.

Here are some tips to avoiding paying ATM fees:

• Find out where your local ATM’s are by visiting our website and use these whenever possible.
• Avoid withdrawing small amounts of cash when using an ATM.
• Prepare a budget and plan for the cash you will need in advance so you can reduce the amount of ATM withdrawals you make.
• Withdraw cash when making EFTPOS transactions where possible.
• If you have a Visa debit card, purchase items using the Credit function instead of cash to avoid paying transaction fees.
• Understand the features of your transaction account so that you are aware of any monthly ATM transaction limits (you can find this information on our website or give us a call).
• Take advantage of RediATM’s SMS service or iPhone application to locate ATMs on the go.

If you have any questions about fees and charges or require further information please contact us.