Some Good News For Members

Fee Reduction 

We are pleased to announce that we have now removed 18 fees including our $9 overdrawn fee.

In addition we have simplified the way we charge for cheques and have changed our mortgage discharge fee.

As a member-owned bank we actively review our fees and costs and undertake initiatives to streamline processes. We are using new technologies and software programs which have enabled us to further remove fees for our members. We don’t make money from our fees, they are only ever there to cover our costs.” - John Tripodi, BankVic Head of Products

Fees that we have removed

You will no longer be charged for:

  1. Overdrawn accounts - $9
  2. Trace of funds sent by regular payment/external transfer– up to $22
  3. Trace mistaken internet payment – up to $22
  4. Recall and return mistaken internet payment – up to $22
  5. Same day mistaken internet payment – up to $22
  6. Bpay – member recall - $20
  7. Disputed transaction – voucher retrieval - $25
  8. Dishonoured cheques - $19
  9. Insufficient funds, stale, unauthorised or account closed cheque dishonours - $19
  10. Stopped cheques – $5
  11. Multipack cheque withdrawal fee - $1
  12. Ezepac cheque withdrawal fee - $1
  13. Investor cheque withdrawal fee - $1
  14. Deeming cheque withdrawal fee - $1
  15. Line of credit cheque withdrawal fee - $1
  16. Copy of cheques / deposits – voucher retrieval between 30 and 90 days - $15
  17. Cheque deposits/deposit books – voucher retrieval over 90 days - $30
  18. Cheques personal stopped payment but still presented - $19

Simplified charges for cheques

  • Introduction of a single $10 charge for each new 25 leaf cheque book

Mortgage Discharge fee increasing

  • Home loan discharge fee increasing from $195 to $295 per property – this now covers the external costs we are charged to manage this process.

Our current fees and charges are listed here in our Fees and Charges (PDF)

If you have any questions about these changes please call us on 13 63 73 from 8am to 7pm Monday to Friday or from 9am to 12pm Saturday. We would be happy to help you.

BSB: 704 230