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Direct Charging and fee changes
Direct Charging
From 3rd March 2009, a change was made to the way ATM fees are charged. The new arrangement is known as Direct Charging, and is a directive of the Reserve Bank of Australia (RBA).
If you use an ATM that does not belong to your financial institution - known as a ‘foreign ATM’ - for cash withdrawals, cash advances and other transactions, a fee will be displayed on the screen at the time of the transaction. You will have the option to accept the fee or cancel the transaction. If you go ahead with the transaction, the fee will be immediately debited from your account by the ATM owner. Find out more about Direct Charging.
Other fee changes
We have recently revised and simplified our fee structure for S1 Everyday Accounts. These changes took effect between 1st and 3rd March 2009. The changes are:
- Introduction of a monthly access fee - $5
- Removal of cap on the number of transactions
- Unlimited transactions now available
- Removal of excess usage fee - $2
- Removal of Visa debit card fee - $2
- Removal of our foreign ATM fee - $2
Read access fee exemptions and FAQs.
Consolidate your accounts or if you receive a full eligible pension, open an S1 Everyday Pension Account.
Learn how to avoid and minimise fees.