Fees & Charges Deposit Accounts - MyState - Banking,...

Fees & ChargesDepositAccountsEffective Date 2 October 2017

Section A Personal Fees & ChargesSection B Business Fees & ChargesSection C Other Fees & ChargesSection D Government Fees & ChargesSection E Additional NotesSection F Handy Tips on Minimising Fees

MyState has updated its Terms & Conditions Deposit Accounts effective 15 August 2018 and Fees & Charges Deposit Accounts effective 1 July 2018. To help you understand the changes that may affect you, we’ve provided a summary of the key items below.The following Supplementary Terms & Conditions and Fees & Charges Deposit Accounts should be read in conjunction with the Terms & Conditions Deposit Accounts dated 12 February 2018 and Fees & Charges Deposit Accounts dated 2 October 2017 which are available from mystate.com.au.

PurposeThis document is to advise changes to the Terms & Conditions Deposit Accounts dated 12 February 2018 and Fees & Charges Deposit Accounts dated 2 October 2017.

Supplementary Fees & Charges for Deposit AccountsEffective date: 1 July 2018

AmendmentsVisa Debit Card FeesOn page 12 we have removed Emergency Card Replacement Overseas Fee.

Supplementary Terms and Conditions Deposit AccountsEffective date: 15 August 2018

AmendmentsWe will no longer offer new rediCARD PLUS cards as a new payment product. On page 7 we have indicated that rediCARD PLUS is no longer offered. This section now reads

Important changes to MyState Terms & Conditions and Fees & Charges Deposit Accounts

• rediCARD PLUS (No longer offered) (see also our separate Terms and Conditions for rediCARD PLUS for full terms and conditions)

All other references to rediCARD PLUS will mean that rediCARD PLUS is no longer offered as a new payment product.

Section 4. Specific Terms and Conditions – Term Deposit AccountsOn page 13 we have removed statements issued at least once every three (3) months from the table. We have clarified when we shall send statements in Section 12. Notices and Statements in this document.

Section 10. Accounts for Children under 18 Years of Age (Minor)On page 22 and page 23 we’ve reduced the age for an independent child account from 14 years of age to 13 years of age. The section now says:b.10 If the parent/guardian removes themselves

as signatory to the account (the child must be at least 13 years of age and capable of independent account operation as determined by the parent/guardian), the child will be responsible for the liabilities and responsibilities associated with the operation and conduct of the account.

b.13 If the child is nominated by the parent/guardian as sole signatory (the child must be at least 13 years), the child cannot appoint additional signatories on the account until they reach the age of 18 years.

b.15 If the child is nominated by the parent/guardian as sole signatory (the child must be at least 13 years) the parent/guardian cannot request this be reversed at a later date.

c. Independent Child Accounts and Account Opening (account holder must be over the age of 13 and meet our Customer Identification requirements)

c.2 The minimum age for independent account opening is 13 years. The legal and beneficial owner of the account is the child.

Section 12. Notices and StatementsOn page 24 we’ve made some amendments to expand how we may communicate with you. The section now says:a. We can send statements, notices and other

documents to you: • at a postal or residential address you have

nominated; • at a postal or residential address that

we believe is your current postal or residential address; or

• by electronic communication to your nominated electronic address, electronic equipment or device or by making such information available to you for retrieval from our website.

b. When we provide these terms and conditions to any party of a joint account, they will be considered to have been received by all account holders.

c. We will generally send your statements at least every six months, unless you request otherwise. If you have an overdraft, your statement will be sent to you monthly. We may choose not to send you a statement of account where the law does not require us to send it to you.

d. You should check your statement of account as soon as you receive it to ensure that all transactions are correct. Please let us know immediately if you believe there is an error on your statement.

e. If you have a joint account, you agree that we will provide you with a statement by sending a statement of account to each joint account holder or by sending one statement of account noting all joint account holders to the first person named on the application form.

f. If you request a replacement statement, a fee may apply. Please refer to the Fees and Charges for Deposit Accounts.

Section 13. Change of Name and AddressOn page 25 we’ve made some amendments to changing your name and address. The section now says:a. You need to let us know promptly if there is a

change to your contact details including your name, residential or postal address and any electronic address you have provided. If you change your address and you do not tell us, we will still give you notice by writing to your previous address.

b. If you change your name, you will need to provide supporting documentation in accordance with AML/CTF Customer Identification requirement that is issued by an Australian State or Territory (Registry of Births, Deaths and Marriages).

Section 14. Changes to Fees and Charges, Interest Rates and Terms and ConditionsOn page 25 we’ve made some amendments to expand how we may notify you. The section now says:a. We may change any of these terms and

conditions. We will give you at least 30 days prior notice (longer if we are required to by law or any code we subscribe to) of any change that:

• varies the method of calculating interest • varies the frequency of crediting interest • varies the balance range to which an

interest rate applies • increases your liability for losses in

relation to transactions made using internet banking, phone banking, or operator assisted banking

• introduces a new fee or charge; or • increases a fee or chargeb. We agree to tell you all other changes

(including any interest rate changes to your account) no later than the day the change takes effect.

c. We will tell you by either: • writing to you; or • advertising in a national or local

newspaper; or • giving you notice in another manner

allowed by lawd. If your account is a joint account, you agree

that the first person named on the application will be appointed as agent of the other account holders for the purposes of receiving written notices from us under this clause. This means that only one notice will be sent for your account

e. Subject to satisfying any legislative requirements, we may not give advance notice of:

• the reduction or cancellation of daily limits for cash withdrawals, purchases and transfers using electronic and phone banking by you; or

• other changes to terms and conditions that are required to immediately restore or

maintain the security of our systems or your account.

Section 39. BPAYOn page 62 we’ve clarified how and when we will notify you of changes to BPAY Terms and Conditions by referencing Section 12 Notices and Statements and Section 14 Changes to Fees and Charges, Interest Rates and Terms and Conditions explained above. The section now says:16. Changes to Terms and Conditionsa. We may change these BPAY Terms and

Conditions and BPAY fees and charges from time to time.

Refer to Section 12 Notices and Statements and Section 14 Changes to Fees and Charges, Interest Rates and Terms and Conditions.

b. If you do not wish your daily limit on transacted amounts via BPAY to be increased you must notify us before the effective date of change. Otherwise, once you access the increased transaction limit, you will be deemed to have consented to the increase.

c. BPAY is owned and operated by third parties. If the rules and regulations of BPAY require that these Terms and Conditions be changed, in any way at any time, (including without prior or full notice to you) then we will have the right to change these Terms and Conditions accordingly.

MyState Bank Limited (MyState) ABN 89 067 729 195 AFSL 240896 Australian Credit Licence Number 240896 A wholly owned subsidiary of MyState Limited ABN 26 133 623 962

This document forms part of the information you will require prior to opening a savings account, transaction account or term deposit account with MyState.

The other documents you will require for these products are:

• Terms and Conditions for Deposit Accounts.• Interest Rates for Personal Deposit Accounts or Interest Rates

for Business Deposit Accounts.• Terms and Conditions for Visa Debit Card (if applicable). • Terms and Conditions for rediCARD PLUS (if applicable).

You should read all of these documents carefully and retain them for future reference. Copies of each of these documents are available from MyState.

Section A

Fees and Charges for Personal Deposit Accounts Current Personal Deposit AccountsThe following table sets out the Monthly Account Fees and Excess Transaction Fees that apply to our current personal deposit accounts.

Account Name

Monthly Account

Fee

Account eligible

for Monthly Account

Fee Exemption

Included transactions Excess

Transaction Fee (per

transaction)ElectronicStaff

Assisted

Everyday $6.00 Yes Unlimited Unlimited N/A

Special eSaver

Nil N/A Unlimited Nil* N/A

Offset $8.00 No Unlimited Nil N/A

Saver Nil N/A

One free electronic withdrawal and one free staff assisted withdrawal/transfer per month.

NOTE: Electronic transfers between accounts within the same customer number are free.

Electronic – $0.85

Staff Assisted - $2.75

Christmas^ Nil N/A

One free electronic withdrawal and one free staff assisted withdrawal/transfer per month.

NOTE: Electronic transfers between accounts within the same customer number are free.

Electronic – $0.85

Staff Assisted - $2.75

Access Assist

Nil N/A Unlimited Unlimited N/A

Cash on Hand


Cash on Hand Investment


Fees & Charges for Deposit Accounts 3

No Longer Offered Personal Deposit AccountsThe following table sets out the Monthly Account Fees and Excess Transaction Fees that apply to our No Longer Offered (not for sale) personal deposit accounts.

Account Name

Monthly Account

Fee

Account eligible

for Monthly Account

Fee Exemption

Included transactions Excess

Transaction Fee (per

transaction)ElectronicStaff

Assisted

Access $6.00 Yes Unlimited Unlimited N/A

Billpayer $6.00 Yes Unlimited Unlimited N/A

Online Savings

Nil N/A Unlimited Nil* N/A

Youth $6.00Yes - if 18yrs

old or younger

Unlimited N/A

Prestige Plus Savings

$6.00 Yes Unlimited Unlimited N/A

Savings Prestige Plus


Savings Cash Manager


Savings Passbook Plus


Savings Pensioner


Home Equity Overdraft


Mortgage Overdraft


*Staff Assisted transactions, both branch and phone are not normally allowed on this account. However if we agree to complete a withdrawal or transfer on your behalf, then the applicable Staff Assisted Excess Transaction Fee will apply.

^A Christmas Account Early Withdrawal Fee may apply if funds are withdrawn outside of the period between the first working day of November and 15 January each year. Please see the Christmas Account Early Withdrawal Fee in Section C – Other Fees and Charges for details.

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The following information explains what we mean by Staff Assisted, Electronic and Exempt transactions.

Important: Not all Staff Assisted and Electronic transactions described in the following can be performed on all our personal deposit accounts. Please refer to the Terms and Conditions for Deposit Accounts for further information on how each account can be accessed.

Staff Assisted Transactions• A cash withdrawal or a transfer from one account to another

made over the counter at a branch, through the Customer Care or via a mail or fax request including cheques written by you that are cashed by you or another person in a branch. Incudes transfers made to accounts under the same customer number.

• A cash advance from your MyState account transacted at another financial institution.

Electronic TransactionsATM transactions• A withdrawal or a transfer from one account to another

at an ATM in Australia.A direct ATM charge may be applied by the ATM owner at the time of the transaction should the transaction be made at an ATM which is not part of the rediATM, NAB or BOQ network.

Bank@PostTM

• A deposit or withdrawal at Bank@Post Agency Banking in Australia.

For Bank@Post withdrawals, an additional $3.00 fee will apply. Please see Bank@Post Withdrawal Fee in Section C — Other Fees and Charges.

Cheques written• A customer cheque withdrawal (not a MyState Corporate

Cheque).

Direct Debits• A withdrawal from an account using the direct debit system.

EFTPOS• A cash withdrawal or purchase made via EFTPOS: including

Visa Debit Card transactions via Visa Merchant/EFTPOS credit option (includes Visa payWave transactions for payWave enabled cards).

MyState Phone and Internet Banking • Transactions that involve an account not owned by the

customer and includes a bill payment request using the BPAY system.

Bank@PostTM and its device marks are trademarks (registered or otherwise) of the Australian Postal Corporation.

®BPAY Registered to BPAY Pty Ltd ABN 69 079 137 518


Exempt TransactionsThe following transactions are excluded from any excess transaction fee calculations.

• MyState Phone and Internet Banking transfers within the same customer number.

• A deposit through the direct entry system, including payroll, dividends, tax returns and transfers from other financial institutions.

• A cash or cheque deposit to your account.• A balance enquiry on an account conducted through an ATM

in Australia. (A direct ATM charge may be applied by the ATM owner at the time of balance enquiry should the balance enquiry be made at an ATM which is not part of the rediATM, nab or BOQ network).

• The transaction for presentation on your account of a MyState Corporate Cheque. (A separate fee will be charged for the issue of the cheque — see Section C).

• The transaction for a periodical payment established via Internet Banking (a fee may be charged for each occurrence not processed via Internet Banking — see Section C).

• Transfers between MyState accounts that are set up on a permanent authority.

• Government Charges.

Important things to knowMonthly Account FeeA Monthly Account Fee applies to the majority of our transaction-type accounts which entitles you to unlimited free staff assisted and electronic transactions. Where this fee applies to an account it will be debited on the last calendar day of each month, including the month on which the account is opened. The fee will not be charged at the time of account closure.

You must ensure that you maintain sufficient funds in your account at the end of each month to cover the fee.

Monthly Account Fee exemptionsWith the exception of our Offset Account, where a Monthly Account Fee applies to an account, you will be eligible for a fee exemption for that month if either of the following criteria is satisfied:

1. $2,000 or more is deposited to your account in total during the month from an external source i.e. a source that is external to your individual MyState customer number. Transfers between your own accounts do not qualify as an external source.

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The Monthly Account Fee will be charged to your account on the last calendar day of the month and then refunded on the first calendar day of the following month.

2. If you hold an Everyday account and are 23 years of age or younger or if you hold a Youth account and are 18 years of age or younger as at the last calendar day of the month

The Monthly Account Fee will simply not be charged to your account at the end of the month (waived).

Excess Transaction FeesOur saver-type accounts do not have a Monthly Account Fee but provide a limited number of free withdrawal transactions each month.

If you have one of these accounts e.g. our Saver Account, once the free monthly allowance for your account has been used, each subsequent withdrawal will incur a fee (our Electronic or Staff Assisted Excess Transaction Fee) that will be debited to your account after the excess transaction occurs.

Please note that any ‘unused’ free withdrawals for a calendar month are not added to next month’s free withdrawal allowance.


Section B

Fees and Charges for Business Deposit AccountsOur business transaction accounts have a Monthly Account Keeping Fee which entitles you to a number of included transactions which are free. Where your account activity exceeds the number of available included transactions for any given month, excess transaction fees will be charged to the account on the last day of the month.

The following table sets out the Monthly Account Fees and Excess Transaction Fees that apply to our current business deposit accounts.

Everyday Business Account and Everyday Agribusiness Account

Premium Business Account and Premium Agribusiness Account

Monthly Account Keeping Fee

$6.00 $12.00

Included Transactions:

Assisted 10 20

Electronic 30 70

Excess Transaction Fee (per transaction)

Assisted $1.50 $1.50

Electronic $0.15 $0.15

The Monthly Account Keeping and Monthly Transaction Fees do not apply to our Business Online Saver Account.

Assisted Transactions• Any cash withdrawal or deposit including cheques written

by you that are cashed by you or another person or a transfer from one account to another, made over the counter at a MyState branch, through the Customer Care or via a mail or fax request. Note: Cheques written to third parties do not count as an Assisted Transaction.

• Any cheque deposit made over the counter or using a Cheque Deposit Box at a MyState branch, or any cheque mailed to MyState for deposit to your account. Multiple Cheques deposited in the one transaction will only count as one Assisted Transaciton. Note: A separate fee applies for each Cheque deposited (see ‘Cheques’ section below).

• A cash advance from your MyState account transacted at another financial institution.

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Electronic TransactionsATM transactions• A withdrawal at a rediATM, NAB or BOQ ATM in Australia.Bank@Post™• A deposit or withdrawal at Bank@Post Agency Banking in

Australia.If the withdrawal is a Bank@Post withdrawal, an additional $3.00 fee will apply. See Bank@Post Withdrawal Fee in Section C – Other Fees and Charges.

Direct Credits• A deposit to an account using the direct credit system.Direct Debits• A withdrawal from an account using the direct debit

system.

EFTPOS• A cash withdrawal or purchase made via EFTPOS: including

Visa Debit Card transactions via Merchant/EFTPOS credit option.

Internet Banking and Phone Banking• External transfers to and from your account made using

Internet Banking or Phone Banking where the other account is not held under the same customer number.

Visa Debit• A Visa Debit Card transaction via Visa Merchant/EFTPOS

Credit Option (includes Visa payWave transactions for payWave enabled cards).

ChequesCheques written $0.60 per item

Cheques deposited $0.60 per item

Exempt TransactionsThe following transactions are excluded when calculating the number of transactions per month.

• Internal electronic transfers between accounts held under the same customer number using Internet Banking, Phone Banking or rediATM’s.

• A bill payment request using the BPAY® system. • An ATM withdrawal made at an ATM which is not part of the

rediATM, NAB or BOQ network (note a direct ATM charge may be applied by the ATM owner at the time of the withdrawal).


• A balance enquiry on an account conducted through any ATM in Australia (note a direct ATM charge may be applied by the ATM owner at the time of balance enquiry should the balance enquiry be made at an ATM which is not part of the rediATM, nab or BOQ network).

• Government charges.• The transaction for presentation on your account of a

MyState Corporate Cheque (note a separate fee will be charged for the issue of the cheque – see Section C).

• The transaction for a periodical payment established via Internet Banking (a fee may be charged for each occurrence not processed via Internet Banking – see Section C).

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Section C

Other Fees and ChargesThe following fees and charges are in addition to monthly account and transaction fees detailed in Sections A and B. Where stated, some fees will be charged on the last day of the calendar month to the relevant account.

See Section E – Additional Notes for futher explanatory information on our fees.

Bank@Post Withdrawal FeePer withdrawal $3.00

This fee is debited on the last day of each month and is charged in addition to any electronic transaction fee which may apply.

BPAY Query FeeThis fee is charged when you request a trace of a BPAY transaction. $15.00

Visa Debit Card FeesCash AdvanceOver the counter or at an ATM overseas $5.00

This fee is debited on the last day of each month. Cash advances overseas will incur additional Third Party charges.

Foreign Currency ConversionPer transaction 3% of transaction amount

Visa International will convert all transactions made overseas on the Visa Debit Card into Australian dollars at the foreign exchange rate that applies on the day the transaction is processed by Visa International.

A conversion fee of 3% of the value of the transaction is payable (of which 2% is payable to Cuscal Limited, the principal member of Visa International under which we provide Visa Debit Cards).

Transactions may not be processed to your account on the same day. To the extent permitted by law, you bear the risk of change in exchange rates in the intervening period.

Visa Overseas Emergency Cash AdvanceThird Party charge $175.00

Should Visa decline your application, a $50.00 fee applies.


Emergency Card Replacement OverseasThird Party charge $175.00

Should Visa decline your application, a $50.00 fee applies.

Card Replacement FeeWithin Australia $10.00

Applicable for the replacement of a MyState Visa Debit Card except if:

• The card is faulty at time of issue and returned to us; or

• The card is stolen and a copy of a police report is provided.

Transaction Verification FeePer transaction $15.00

Charged when we are requested to investigate a transaction. The fee will not be charged if we find that the transaction is incorrect.

Copies of Sales Vouchers on Visa PurchasesIf a copy is required $15.00

rediCARD PLUS FeesCard Replacement Fee $10.00

Applicable for the replacement of a MyState rediCARD PLUS except if:

• The card is faulty at time of issue and returned to us; or

• The card is stolen and a copy of a police report is provided.

Foreign Currency Conversion Per transaction 2% of transaction amount

Visa International will convert all transactions made overseas on the rediCARD PLUS into Australian dollars at the foreign exchange rate that applies on the day the transaction is processed by Visa International.

A conversion fee of 2% of the value of the transaction is payable to Cuscal Limited, the principal member of Visa International under which we can provide you with the overseas functionality of your rediCARD PLUS.

Transactions may not be processed to your account on the same day. To the extent permitted by law, you bear the risk of change in exchange rates in the intervening period.

Transaction Verification FeePer transaction $15.00

Charged when we are requested to investigate a transaction. The fee will not be charged if we find that the transaction is incorrect.

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Copies of Sales Vouchers on EFTPOS purchasesIf a copy is required $15.00

Bank ChequePer item $16.00

Bank/Performance Guarantees1% of $ amount guaranteed or minimum fee $50.00

This fee is charged on establishment and half yearly thereafter.

Cash Handling FeeDeposits and withdrawals $3,000.00 and above per transaction $10.00

Certificates SuppliedCertificate of account balance $15.00

Certificate of interest paid or received $15.00

Other certificates for audit or other purposes $30.00

These fees are charged when a certified letter or statement is required.

Cheque Book FeePer 50 form Cheque Book issued $5.00

Per 100 form Cheque Book issued $10.00

Cheque Withdrawal (MyState Corporate Cheque)Per item $8.00

This fee applies to cheques you request we draw for you, including over the counter, through the Customer Care or via a mail or fax request.

This fee is debited on the last day of each month.

Stop Payment Corporate ChequePer item $15.00

A request that payment not be made on a MyState Corporate Cheque not yet presented. This request will only be accepted if the cheque has been lost or stolen. This fee will be charged when your request is received.

Christmas Account Early WithdrawalPer occurrence $20.00

To avoid this fee, withdraw your funds only between the first working day in November and 15 January each year.


Custodial Services (No longer available for new lodgments)Safe custody sealed packet – annual fee $25.00

Dishonour and Rejection FeePer item dishonoured $30.00#

This fee will be debited to your account on the day of the dishonour or rejection. This fee is charged when any payment on your account, whether customer cheque, periodical payment, transfer order, account transfer, direct debit or BPAY cannot be processed or is dishonoured.

To avoid this fee, make sure you have enough funds in your account at all times.

# Everyday Account Per item dishonoured $15.00

External Internet Banking Transfer Rejection FeePer item rejected $16.50

This fee will be debited to your account on the day of receipt of notification of the rejection. This fee is charged when any Internet Banking payment from your account to another financial institution is rejected and returned to us.

Customers should note that the account name does not form part of the payment instructions and that the name will be disregarded in making the payment and that we, and the receiving party’s financial institution, may rely solely on the account number.

To avoid this fee, ensure the BSB, account number and name of the account to which you are sending funds to are all correct.

Cheques Deposited and DishonouredPer item $20.00

This fee is charged when a cheque that is not drawn on your MyState account is deposited into your account and is dishonoured.

Representation and Collection of Dishonoured ChequesPer item $15.00

This fee is charged for each cheque that is not drawn on your MyState account, which had previously been deposited into your account and dishonoured due to lack of funds and which is presented again on a collection basis.

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Enforcement ExpensesArrears Administration Fee $30.00#

Overdrawn Administration Fee $30.00*#

Other default notices $30.00

Demand notices $30.00

*Per daily occurrence, for any savings or transaction account (with or without an approved overdraft limit) where we honour a drawing that overdraws the account or exceeds the authorised overdraft limit.

There may be other enforcement expenses that we may have to pay to Third Parties resulting from a breach of the account terms and conditions. These Third Party charges will be debited to your account.


# Everyday Account per expense $15.00

Inactive AccountsPer month $2.00

For any savings or transaction account on which you have not transacted for at least 12 months.

To avoid this fee, visit your nearest branch or call us to close any account you no longer use.

Lottery ClaimsPer claim Cost of Registered Mail

Stop Payment on Lost or Stolen DraftsPer draft $25.00

Plus any Third Party charges that may apply.

Periodical Payments (Staff Assisted)To non-MyState accounts per occurrence $7.00*

*A periodical payment is a recurring payment to another account.

A periodical payment arranged through Internet Banking (where available) is exempt from this fee.

A periodical payment to a MyState Loan account arranged through us is also exempt from this fee.

Everyday Account is exempt from this fee.


Permanent Payment Alteration to AuthorityPer occurrence $2.00

This fee is charged when you request us to alter a Permanent Payment Authority for you.

Permanent Payment Authority refers to periodical payment, transfer order, account transfer to another institution, direct debit, direct credit (including payroll) and debit distribution instructions. Alterations must be advised at least three days before the payment is made.

Alterations to permanent payment authorities arranged via Internet Banking (where available) are exempt from this fee.

Everyday Account is exempt from this fee.

Special Clearance of ChequesPer item $20.00

Plus any Third Party fee that may apply.

StatementsReplacement (3 days notice required)Per page $5.00

Exact replica of original statement.

Transaction listingPer page $2.00

A transaction listing is not a statement and provides basic transaction details only.

Stop PaymentsPer item $30.00

A request that payment not be made on a MyState customer cheque not yet presented. This fee will be charged if the cheque is presented. This fee also applies to direct debits, periodical payments, transfer orders and BPAY future payments if we receive a request to stop payment on a drawing.

Sweep FacilityEstablishment of facility $15.00

Alteration to facility per request $5.00

Sweep facilities are not available on all accounts.

Electronic Funds Transfer (Outward) within AustraliaPer item $15.00

Transfer of Australian Dollars in Australia that on receipt becomes available to the recipient via SWIFT electronic payments.

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Telegraphic and Electronic Transfer (Inward)Per transfer $7.50

SWIFT electronic payment or inward telegraphic transfer to us from another financial institution.

Contractual Set OffMyState generated transfer of funds from one account to another $10.00

This is charged when you overdraw your account without a formal overdraft limit. If you have funds available in another account with us we may transfer funds to clear your overdrawn balance.


Voucher Retrieval FeePer Voucher Search $15.00

Copy per Voucher (plus Voucher Search Fee) $2.00

Overdrawn Account InterestDeposit accounts without overdraft arrangements must have a credit balance. We are under no obligation to honour cheques, or allow any withdrawal that would overdraw an account without an approved overdraft facility.

If we honour a cheque or debit which overdraws an account, the amount overdrawn (referred to as the credit provided) will attract debit interest charged to the account on the last day of the calendar month. This interest which will be charged to your account as ‘Overdraft Interest’ is calculated on the daily closing debit balance using the current ‘Unarranged Borrowing Rate’. Please refer to our Interest Rates for Household and Personal Lending brochure available from any branch or by contacting the Customer Care for the current ‘Unarranged Borrowing Rate’.

Any credit provided is short term credit and must be repaid within 7 days of being provided.

In addition, Overdrawn Administration Fees will be applied (see Enforcement Expenses, earlier in this Section).


Internet Banking Second Factor Authentication Fees (Business Accounts only)Fees quoted in this Section include GST.

Issue of security token device* $25.00

Issue of security token software Nil

Monthly service fee+ $5.50

Replacement security token device $25.00

* This fee is waived for the first 2 security devices issued, the 3rd and subsequent devices will incur this fee.

+ This fee is waived for the first 2 security token devices or software issued, the 3rd and subsequent devices or software will incur this fee.

Foreign ExchangeForeign Draft/ChequePer draft $20.00

Applies when you request a cheque made out to an overseas payee in a foreign currency. Fee is charged when the draft is issued.

Foreign Currency Note Purchase1% of transaction amount minimum charge $10.00

Applies when you purchase foreign currency notes. Fee is charged at the time of the transaction. Note: We do not offer a foreign currency note repurchase service.

Telegraphic Transfer (Inward)Per transfer $7.50

Applies when you receive a telegraphic transfer into your account from another party sent in a foreign currency. Fee is charged at the time the transfer is received.

Telegraphic Transfer Outbound (foreign currency)Per transfer $30.00

Applies when you request us to make a telegraphic transfer to another party in a foreign currency. Fee is charged at the time the transfer is requested.

Telegraphic Transfer Outbound (Australian dollars)Per transfer $45.00

Applies when you request us to make an overseas telegraphic transfer to another party in Australian dollars. Fee is charged at the time the transfer is requested. Not available to all countries.

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Repurchase of Foreign Currency DocumentsPer cheque, draft or other instrument $10.00

Applies when you request us to purchase overseas drafts, personal cheques or negotiable instruments up to AUD $2,000 value.

Fee is charged when the foreign currency documents are repurchased.

Repurchase of Foreign Currency Documents on a Collection BasisPer cheque, draft or other instrument $55.00

Applies when you request us to purchase overseas drafts, personal cheques or negotiable instruments over AUD $2,000 and/or requiring collection prior to payment. Fee is charged when funds are returned from the overseas bank and credited to your account.


Section D

Government Fees and ChargesGovernment Fees and Charges where applicable will be charged at the actual cost to us.

Section E

Additional NotesThe fees and charges detailed in this booklet are our standard fees and charges. They will apply to the service provided to you unless you have a different arrangement with us.

Where we incur a Third Party fee in arranging a service or product these will be debited to your account. These fees are not ascertainable at this time.

We may elect not to charge a fee, which we are otherwise entitled to charge under the terms and conditions of the account. Any failure by us to charge a fee will not constitute a waiver of that fee or the right to charge that fee in the future.

Lending fees are contained in Fees and Charges for Household and Personal Lending or Fees and Charges for Business Lending and are available on application.

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Section F

Handy Tips on Minimising Personal Account FeesThe following Handy Tips are provided to help you minimise the fees and charges that you pay. The information is general information only and does not take into account your current banking relationship with us or specific banking needs. Please contact us on 138 001 or speak to our branch staff if you have any questions or would like further information based on your particular circumstances.

Check to ensure you have the right account or account combination for your banking needsHaving the incorrect transaction and/or savings account(s) for your banking needs or using your account incorrectly can result in you paying additional monthly account fees or excess transaction fees. With our transaction and savings accounts being quite different in their design, it may be appropriate to consider your current accounts, and the type and number of transactions that you make on those accounts to see if you have the most suitable account(s) or account combination. If you have multiple transaction-type accounts, you could also be exposed to more monthly account fees. It may be worthwhile considering combining accounts if this is the case.

Have your pay directly credited to your transaction accountTo take advantage of the monthly fee exemption on transaction accounts where $2,000.00 or more is deposited into the account during the month; arrange to have your pay directly credited to your transaction account.

See if you are eligible for an account that does not incur monthly account or transaction fees We offer products that do not charge monthly account fees and that provide unlimited electronic and staff assisted transactions e.g. our Access Assist and Youth Account products. Ensure you take advantage of these account options or contact us if you require more information on our eligibility criteria.

Always use ATMs that are part of the rediATM, NAB or BOQ network Each time you use an ATM that is not part of the rediATM, NAB or BOQ network, the ATM owner may charge you an additional fee which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your account. You should therefore endeavour to use rediATM, nab or BOQ network ATMs wherever possible when performing ATM transactions and balance enquiries.


Keep track of your account balances (to avoid overdrawing your account)Check your account balances regularly to ensure that you have adequate cleared funds in your account(s) at all times, including to cover those arrangements you have in place to debit your account e.g. periodical payments and direct debits. You can check your account balance at any time via Internet and Phone Banking or by calling 138 001.

Take care in managing your overall financesCarefully managing your finances is a good tip when it comes to minimising fees. There is a Budget Planner available at mystate.com.au that you may find helpful.

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MyState Bank Limited (MyState)ABN 89 067 729 195 AFSL 240896 Australian Credit Licence Number 240896A wholly owned subsidiary of MyState Limited ABN 26 133 623 962


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