No one likes unnecessary fees. Take a look at our top tips for avoiding common fees and charges, so you can spend more of your money on the things you enjoy.
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Avoid unnecessary bank fees
Sidestep account, card and ATM fees
Make your account fee-free
Some accounts require you to make a minimum deposit each month or stay above a minimum balance to avoid a monthly maintenance fee.
If meeting these requirements each month will be hard for you, it might be worth switching to an account where you're guaranteed no maintenance fees – like our Easy Transaction Account and our Retirement Advantage Account.
Set up Easy Alerts
Get push notifications to remind you when your credit card payment is due, if your bank account balance drops below a nominated amount, and more with Easy Alerts.
Log in to the Bankwest App and go to 'More' > 'Notifications' > 'Settings' and toggle on Easy Alerts to get started.
Avoid non-bank ATM operator
Save on ATM fees when you use any major bank ATM across the country. Keep in mind fees may apply when withdrawing from non-bank ATMs.
Other fees to avoid
Line of credit fee
If we honour a transaction that leaves your account overdrawn by $1,000 or more, or for 10 days or more, we’ll charge a line of credit fee. The same fee applies for authorised overdrafts. The fee will vary – you can find more info in your account’s Product Disclosure Statement.
Credit card over limit fee
If debits to your credit card take you over your credit limit, we may charge a fee for select accounts for each statement period where this is the case. Refer to your credit card contract to see if this fee applies to you.
Credit card late payment fee
Make sure you pay at least the minimum payment by the due date on your credit card statement. If your statement refers to an ‘Amount Due Immediately’ you must also pay that amount by the due date, in order to avoid the fee. You can refer to your credit card contract for more info about this fee.
Cash advance fees
If you withdraw cash from your credit card at an ATM or from a store at the point of sale, it’s called a cash advance. You may be charged interest (cash advance rate) and a fee (cash advance fee) when you make one.
Fees we won't charge you
Bankwest doesn't charge foreign ATM fees or foreign currency fees on the Platinum Debit Mastercard® or Platinum and World tier credit cards, so you can make overseas purchases with these cards without having to worry about additional charges. Keep in mind, overseas ATM operators may charge fees.
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The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.