We are changing our current Relationship Rewards Program (RRP) to a new simpler fee structure that will provide greater certainty and peace of mind for Members who use Visa Debit (excludes Business Accounts).
Currently, you receive a limited number of free transactions per month. You are then charged with excess transaction fees when you’ve exceeded your limit.
Effective 1 August 2021, transaction fees will no longer exist under the RRP. These fees will be replaced with the new Monthly Usage Fee. This new fee is capped at $5.00 per month per membership, and it gives you unlimited VISA Debit transactions throughout Australia.
Whether you are transacting at an ATM, a retail store or online shopping, you will be able to use Visa Debit without worrying about excess fees. The unlimited transactions apply not just on physical cards but also to digital cards linked to your personal account like Apple Pay, Google Pay and Samsung Pay. Please note that some privately-owned ATMs may still have a Direct Charge prior to proceeding with the transaction.
With the new fee structure, keeping tabs on your Visa Debit card transactions each month will be a thing of the past.
| CURRENT | NEW | |
|---|---|---|
|
Relationship Rewards Program |
Monthly Usage Fee |
|
|
Monthly Fee |
Nil | $5.00 |
|
Member Benefits |
Memberships with a balance of $10,000+ Membership with a balance of less than $10,000 Retired members over 58 years of age (who have registered with us) All in One Home Loan holders receive All in One Home Loan Rewards PACKAGE holders receive UNLIMITED Visa Debit transactions per month.* *Your transactions consist of withdrawals made via any domestic or international ATM, EFTPOS, and Personal Cheques. All other excess transactions are charged $1.20. |
UNLIMITED Visa Debit transactions+ throughout Australia. Want to be exempt from the new Monthly Usage Fee? Refer below to find out how. +Unlimited transactions applies to online purchases, withdrawals at any ATM throughout Australia, major retailers that offer cash withdrawal services and EFTPOS. No excess transactions will be charged. |
Depending on your situation, you could be exempt from paying the Monthly Usage Fee. Members who are automatically exempt from the Monthly Usage Fee include:
| Members aged under 25 and over 65 |
| Members with a combined monthly average balance greater than $5,000 across all their personal accounts (Savings, Loans, Personal Overdrafts, Credit Cards and Term Deposits). However, if your combined monthly average balance drops below $5,000, you will be charged the Monthly Usage Fee |
| Members with zero VISA Debit transactions for that month which includes ATM, Eftpos, Paywave, Internet & Phone on-line purchases, Apple Pay, Google Pay or Samsung Pay |
The Monthly Usage Fee is only charged upon conducting a Visa Debit transaction during the month. No Visa Debit transaction = No Monthly Usage Fee.
Members who have the All-in-One Rewards Package home loan greater than $5,000 are exempt from paying the Monthly Usage Fee. Due to the new fee structure, the value of having unlimited transactions as part of the package is now duplicated and therefore will be removed. All other benefits will remain as per the original agreement and to offset this variation, the annual fee will be reduced from $350.00 p.a to $300.00 p.a, effective 1 August 2021. If this year’s annual fee has been paid prior to 1 August 2021, the adjusted fee pro-rata will be refunded.
Information on the All-in-One Rewards Package as from 1 August available here.
Please note that the following transactions are separate from the Member Usage Fee and will be charged on a per usage basis: $4.00 Overseas ATM transaction Fee and $1.50 Personal Cheque Fee.
Here are some tips on how you can avoid paying the Monthly Usage Fee.
| Make Unity Bank your primary bank by having your salary paid into a savings account with us and maintain a minimum account balance of $5,000 each month. |
| Refinance your home loan, car loan or personal loan to us and maintain a minimum account balance of $5,000 each month. |
| Take up any new home loan, car loan or personal loan with us and maintain a minimum account balance of $5,000 each month – one of our Lending Specialists will be able to help you find the right loan that suits your financial needs. |
If you have any questions regarding the fee changes or on how to avoid paying the Monthly Usage Fee, please give us a call on 1300 36 2000 or send your enquiry and one of our friendly staff can help you.
