Small savings stack up - ACTU Australian Unions
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Small savings stack up

Take a moment to check the fees you’re paying for everyday banking.

ME_Bank3.jpgSmall 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% cash back on purchases

Even better, new customers opening an EveryDay Transaction Account before 31 August will be rewarded with 5% cash back on PayPassTM purchases for 6 months from the date their account is opened.*

To see if you could save on every day bank fees, call 13 15 63 visit ME Bank at mebank.com.au/everyday.

[1] RateCity media release: Aussies waste $1b in unnecessary account fees, 17 February 2014.

[2] RateCity 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 31/08/14. 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 the 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.


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