Fees & Charges Account & Access Facility Effective 1 April 2017
mycu.com.au
OUR APPROACH At MYCU we are committed to providing members with competitive interest rates, personalised service and a fair fee structure which is based on mutual support. All members can now enjoy the benefit of transaction fee free banking, which is made possible by the support of members who save, invest or borrow from the Credit Union. To ensure that a fair system is in place, a monthly membership fee is levied on members that don’t meet the supporting member criteria. A supporting member is a member that holds at least one of the following relationships with the Credit Union: ■ Loan account ■ Credit card ■ Term deposit ■ Savings balance over $1,000* *Based on the combined minimum monthly balance (MMB) of each savings account held in a member’s name (joint accounts included).
Here’s how the minimum savings support is calculated. John Doe has 3 savings accounts with MYCU:
Account
MMB
Date of MMB
My Access Account
$163.20
10 June
My Christmas Club
$330.63
12 June
My E-Savings
$336.17
16 June
Combined MMB
$830.00
John Doe did not meet the supporting member criteria as his MMB is less than $1,000. John can avoid paying the membership fee by saving an extra $170 with MYCU.
MEMBERSHIP FEE Member classification
Fee
Supporting member
Waived
Members - under 30 years
Waived
Members - less than 3 months
Waived
Other members
$5 pm
TRANSACTION FEE FREE BANKING The following transactions are provided to members fee free:
Transaction
Fee per transaction
ATM withdrawal at rediATMs ^
Free
Bank@Post transaction
Free
BPAY transaction*
Free
Cash deposit
Free
Cash withdrawal
Free
Cheque deposit
Free
Cheque withdrawal
Free
Direct credit
Free
Direct debit
Free
EFTPOS transaction
Free
External funds transfer*
Free
Internet banking
Free
Periodical payment
Free
Phone banking
Free
Quickdebit (inward EFT Transfer)
Free
Transfers between accounts*
Free
Visa debit purchase
Free
EXCLUSIONS ATM Withdrawal^ For transactions in Australia only. Refer to overseas service fees for Visa Debit ATM withdrawals conducted outside Australia. An ATM direct charge may be levied at ATMs which do not form part of the rediATM network. Staff Assisted Transactions* A fee applies to staff assisted BPAY, transfers and/or external funds transfers when the member is a registered Internet or Phone Banking user and the transaction amount is within daily limits.
SPECIAL SERVICE FEES Transaction/service Agency Withdrawal Fee ATM Balance Enquiry/ Declined Transaction
Fee per transaction $15 $1
Bank Cheques Arranged for Members Note: Advance notice required
$40
BPAY Recall/Correction
$25
Card Replacement Fee rediCARD/Visa – In Australia
$10
Cheque Book Fee Book of 25 cheques
$10
Book of 50 cheques
$20
Book of 100 cheques
$50
Christmas Club Account Withdrawals outside 1 Nov - 31 Jan
$10
Coin Counting Fee Under $100 $100 and over
Free 5% of coin value
Document Copy/Trace Fee Statement (per statement)
$5
Voucher or document
$10
Visa voucher or cheque
$25
Archive retrieval cost may apply (per hour)
$50
External Funds Transfer Priority EFT (same day)
$15
Recall/reversal
$25
Staff assisted*
$5
Large Cash Withdrawal Note: Advance notice required. Max. $10,000.
$25
Staff Assisted Transfers and BPAY*
$5
Visa Cash Advance Fee
$4
Visa Chargeback Request
$25
OVERSEAS SERVICE FEES Transaction/service International Payments Foreign Cheque Deposits International draft Telegraphic transfer - Overseas currency - Australian dollars AUD$ Multi-Currency Cash Passport Initial load/reload Note: Please refer to the Multi-Currency Cash Passport PDS for all fees and charges. Overseas Visa Debit ATM Withdrawal Currency conversion rate of 2% also applies Swift Deposit Visa Card Overseas Replacement Note: No ATM access Visa Card Emergency Cash
Fee per transaction $15 $20 $40 $50 1.1%
$4 $10 US$200 US$200
DISHONOUR & EXCEPTION FEES Transaction/service Dishonour Fees Member cheque (If presented) Cheque deposit (Branch or NAB) Cheque deposit (Bank@Post) Direct debit Direct debit via member chequing Quickdebit Dormant Account Fee For accounts inactive for more than 12 months - excludes juniors Honour Fee Payable on each occasion that an account is overdrawn to cover payment Overdrawn Account Fee For every calendar month the account remains overdrawn
Fee per transaction $15 $10 $25 $15 $40 $15 $25 pa
$10
$15
HOW TO AVOID FEES There are some very simple ways of reducing potential fees. ■ Become a supporting member To become a supporting member all you need is a loan, credit card, term deposit or minimum savings of $1,000 with MYCU. ■ Use the rediATM network The rediATM network is one of the largest ATM networks in Australia and it is your free network. You can use your Visa Debit or rediCARD at rediATMs to withdraw cash without paying an ATM owner fee. ■ Get cash-out when shopping Combine your transactions by taking cash out when paying for your groceries. It’s easy, saves you time and avoids the need to use an ATM. ■ Use BPAY to pay your bills Take control over your bills and use BPAY through internet, phone or the Mobile Banking app. ■ Check balances using the Mobile Banking app Don’t check your balances by using ATMs. Now with the handy Mobile Banking app you can check your balance on the go… saving you time and money.
This fee schedule is effective 1 April 2017 and is subject to change at any time. It should be read in conjunction with the Conditions of Use. For the latest version of both documents visit mycu.com.au. Telephone Fax Email Web Branches
1300 655 116 02 9965 1222
[email protected] mycu.com.au See Contact Us on our website
My Credit Union Limited ACN 087 650 584 AFSL 246941
