Avoiding bank and ATM fees

No one likes unnecessary fees. Take a look at our top tips for avoiding common account and ATM fees, so you can spend more of your money on the things you enjoy.

Choose the right account for you

Some accounts have a minimum monthly deposit or balance in order for you to avoid a monthly maintenance fee. If you don’t meet these requirements each month, it might be worth switching to a different account.

Switch to eStatements

When you choose to get your statements in online banking or the Bankwest App, instead of in the mail, you could save yourself a paper statement fee. Plus, it’s a handy way to see all your statements from the last five years in one place.

Find out how to switch to eStatements

Set up Bankwest 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.

Just go to ‘Easy Alerts’ in the main menu of the Bankwest App to get started.

Check your balance regularly

It sounds obvious but making sure you have enough funds in your account before you make a purchase can help you save on unnecessary fees.

Honour fee – personal

When there aren’t enough funds in your account to withdraw a direct debit, we’ll review your existing relationship with us. If we honour the payment, we’ll charge an honour fee to recoup the costs of reviewing the transaction.

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.

Outward dishonour fee

If you don’t have enough funds to cover a direct debit or cheque on your account, and we don’t honour the payment, we’ll charge a dishonour fee.

Credit card over limit fee

If debits to your credit card take you over your credit limit, we’ll charge a fee in each statement period.

Credit card late payment fee

Make sure you pay at least the minimum payment by the due date on your credit card statement to avoid a late fee.

Use a Bankwest or Commonwealth Bank ATM

Save on ATM fees when you use any of the 4,000 Bankwest or Commonwealth Bank ATMs across the country.

Things you should know

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.