Take a moment to check the fees you’re paying for everyday banking. Small regular fees can quickly add up with research showing Australians are paying more than $1 billion each year in everyday account-keeping fees1.
Shop around to save
One in two transaction accounts still charge a monthly fee ranging from $3 to $101. It means you could be paying $120 in annual fees – or about $600 over a 5-year period.
The thing is, it’s easy to avoid account-keeping fees – and remember, they don’t always buy better service or more features.
There is a wide selection of transaction accounts that have done away with regular fees, and industry wide changes have made it easier than ever to switch to a new account and pocket valuable savings.
Rethink banking habits
Another culprit for unwanted charges is ‘foreign’ ATM fees. These apply when you use an ATM that’s not part of your bank’s network, and they’re costing Australians around $670 million annually2. Planning your cash needs, sticking to your own bank’s machines and withdrawing cash when you pay for purchases with EFTPOS make it easy to bypass ATM fees altogether.
ME Bank’s EveryDay Transaction Account offers plenty of opportunities to save with zero account-keeping fees, zero transaction charges^ and fee-free access to your money at over 3,000 ATMs nationwide including ME Bank, Westpac, St.George, BankSA and Bank Of Melbourne ATMs.
5% cashback on purchases
Even better, new customers opening an EveryDay Transaction Account before 30 May will be rewarded with 5% cash back on PayPass purchases for 6 months from the date their account is opened.* Plus, SDA members have the chance to win an Apple iPad!#
To see if you could save on every day bank fees, visit ME Bank at mebank.com.au/SDAQLD or call Peter Jones on 0418 885 541.
1RateCity media release: Aussies waste $1b in unnecessary account fees, 17 February 2014.
2RateCity media release: $670 million wasted last year: Aussies still spending too much money on “Foreign” ATM fees, 13 March 2013
Terms and Conditions of Cash Back Offer
*Available to customers who open an EveryDay Transaction Account (ETA) between 3/03/14 and 30/5/14. Receive 5% cash back on all contactless purchases made within Australia using PayPass Tap & Go for amounts of $100.00 or less for 6 months from the date your account is opened. The 5% cash back offer will not apply to ATM transactions, payments pressing ‘Savings’, ‘Cheque’ or ‘Credit’, BPAY®, PayAnyone, Phone or Internet Banking, direct debits or credits, cheque or Bank@Post transactions. The 5% cash back will be paid into your account within 30 days after the date the transaction is debited to your account. Customers with ETAs opened prior to 3/03/14 are not eligible to participate. Only one cash back offer per customer and account. ^There is a charge for International ATM withdrawals. Fees and charges apply. Terms and conditions available on request. This is general information only and you should consider if this product is appropriate for you. Tap & Go and PayPass are trademarks of MasterCard International Incorporated.
Terms and Conditions of the iPad offer
# Open to members of SDA QLD, 18+ who do not have an existing ETA (as at 8/4/14) but open one by 23:59 AEST 30/5/14 on mebank.com.au/SDAQLD . Account must remain open as at 13/6/14 to be eligible. Limit 1 entry per person. For joint account holders, entry awarded to Applicant 1. Starts 8/4/14 and ends 23:59 AEST 30/5/14. Prize is one (1) Apple iPad Air 64G WiFi + Cellular, RRP $949. Apple is not a participant in or sponsor of this promotion. Apple and iMac are trademarks of Apple Inc., registered in the U.S. and other countries. Draw at 2:00pm AEST on 13/6/14 at ME Bank, 28/360 Elizabeth Street, Melbourne Vic 3000. Winner’s name published in The Australian on 20/6/14 Promoter is ME Bank ABN 56 070 887 679 of 28/360 Elizabeth St, Melbourne VIC 3000. See mebank.com.au/SDAQLD for full Terms & Conditions.
This information is about products and services available to you as a member of SDA QLD. SDA QLD and ME Bank are not agents or representatives of one another. SDA QLD does not accept responsibility or liability for any loss or damage caused by the products or services provided by ME Bank. SDA QLD does not receive any commissions as a result of members using ME Bank products and services. Members Equity Bank Pty Ltd ABN 56 070 887 679.