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Updates to our Fees & Charges and Transaction Limits document

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We have made some changes to our Fees & Charges and Transaction Limits document. To access the Fees & Charges and Transaction Limits document now dated 24 August 2020, please click here.

What are the changes

Retailers and merchants can choose which network they process a transaction through, including contactless transactions (e.g. the Visa network or the EFTPOS network). Transactions processed via the Visa network do not count towards your excess transaction limit. However, transactions processed via the EFTPOS network do count towards this limit.

What this means for you

This change to our Fees & Charges and Transaction Limits document has been made to help you better understand how your excess transaction limits may be affected if a merchant processes a transaction via the EFTPOS network. No action is required by you.  

Current Wording:
Your transactions consist of withdrawals made via any domestic or international ATM, EFTPOS, and Personal Cheques. All other excess transactions are charged $1.20. (Excess transactions charges are excluded for All in One Home Loan Rewards PACKAGE holders).

Amended Wording:
Your transactions consist of withdrawals made via any domestic or international ATM, EFTPOS, and Personal Cheques. All other excess transactions are charged $1.20. (Excess transactions charges are excluded for All in One Home Loan Rewards PACKAGE holders). Retailers and merchants can choose which network they process a transaction through, including contactless transactions (e.g. The Visa network or the EFTPOS network). Transactions processed via the Visa network do not count towards the excess transactions limit. However, transactions processed via the EFTPOS network do count toward this limit. 

If you have any questions in relation to these changes, please contact us on 1300 65 4477. 

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