Minimise Fees & Charges
Minimise your fees and charges today by checking out these helpful tips:
- Make sure you are using the right account for your banking needs
Having the wrong type of account for your banking needs can result in you paying additional fees, for example transaction or monthly account fees. Consider your current B&E accounts and the fee structures that apply, along with your normal monthly transaction levels to see if you have the best account for your needs. If you have multiple accounts, you could also be exposed to more fees. If this is the case, considering combining accounts.
- Are you eligible for a fee-free transaction account or a fee exemption?
We offer a number of accounts that have either fee-free everyday banking (e.g. Home Advantage for our Home Loan clients or Youth Advantage for our junior clients) or increased levels of fee-free transactions (e.g. on our Pension Advantage for clients receiving an Aged, Australian War Veterans or Disability Pension or our Student Option for full time tertiary students).
- Be rewarded for banking with B&E
Our range of savings and everyday accounts, and the associated fee structures, are, in part, designed to reward you for banking with B&E. For example, if you have a home or residential investment loan with us, you’ll receive fee-free everyday banking with our Home Advantage account. A number of our accounts also reward you with fee-free transactions based on your account balance. For example, if you retain balance of more than $10,000 in your Everyday Advantage account, you’ll receive fee-free everyday banking.
- Always use rediATMs
B&E is part of Australia's second largest ATM network, rediATM, providing clients with access to more than 90 rediATMS across Tasmania and 3,400 rediATMs Australia-wide. At any rediATM you can withdraw cash, check your balance or make transfers. If you use a non-rediATM in Australia, 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. Remember, avoid this fee by simply using rediATMs. Please note: B&E clients are also able to use any National Australia Bank (NAB) ATM without paying a direct charge fee.
- Try to use self-service options such as internet, mobile phone and telephone banking
Like staff-assisted transactions, the fees we have allocated to the various types of self-service transactions generally reflect the cost to us in providing that transaction or facility to you.
Based on the lower cost structure for self-service transactions, consider performing transactions using internet. mobile phone and telephone banking when you can.
Top tip: At many retailers, you can pay by EFTPOS and withdraw cash at the same time, which would count as one transaction/withdrawal only. This could help you avoid subsequent fees associated with withdrawing cash during the month.
- Keep track of your account balances
Keep track of your account balances and always be mindful of any cheques you have written or arrangements you have in place to debit your account, e.g. periodical payments and direct debits, to make sure your account does not become overdrawn. You can check your account balance at any time via B&E internet, mobile phone or telephone banking. SMS alerts are also available to advise you of account balances and upcoming repayments.
The information is general information only and does not take into account your current banking relationship with B&E or specific banking needs. Please contact us on 1300 306 716 or speak to our branch staff if you have any questions or would like further information based on your particular circumstances.