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Several changes will become effective on 3 July 2023 that may impact all accounts with Regional Australia Bank.
Please refer to the linked copies of the new documents that will take effect on 3 July 2023
A summary covering the key changes is included below:
|
Current |
NEW effective 3 July 2023 |
||
|
Fee Description |
Fee Amount |
Fee Description |
Fee Amount |
|
Access Fee The Access Fee entitles your membership to unlimited withdrawals via EFTPOS, ATMs2, Internet, Phone and Mobile Banking.3 Member will not be charged the Access Fee if they;
|
$5.00 |
Access Fee The Access Fee entitles your membership to unlimited withdrawals via EFTPOS, ATMs2, Internet, Phone, Mobile Banking and staff assisted deposits or withdrawals. |
Free |
|
Over the Counter Fee Applies per counter withdrawal or debit transfer once the monthly limit of 6 included withdrawals is exceeded.3 Members will not be charged the Over the Counter Fee if they;
|
$2.00 |
~~Removed from Fees and Charges~~ Note: fees no longer apply |
N/A |
|
Staff Assisted Fee- eFree Account Only Applies per withdrawal or debit transfer processed by branch or Service Support Centre Staff.3 |
$5.00 |
~~Removed from Fees and Charges~~ Note: fees no longer apply |
N/A |
|
Bank@Post Transaction Fee A fee applies when you complete a withdrawal or deposit to your account through a Bank@Post outlet.3 This fee is also applicable if your transaction is declined. |
$3.25 |
Bank@Post Transaction When you complete a withdrawal or deposit to your account through a Bank@Post outlet. |
Free |
|
Company Search Fee When you apply for a membership in the name of an incorporated organisation or request a change to signatories on the account, we are obligated to perform a Company Search through ASIC. This fee is applied to the company’s account on behalf of ASIC.1 |
At cost |
Company Search Fee When you apply for a membership in the name of an incorporated organisation or request a change to signatories on the account, we are obligated to perform a Company Search through ASIC. This fee is applied to the company’s account on behalf of ASIC.1 |
At cost Free for new members |
|
Replacement Certificate of Title |
At cost |
~~Removed from Fees and Charges~~ |
N/A |
The following Default Transaction Limits table has been updated to improve the understanding of the limits that are applicable.
|
Transaction Type |
Limit |
|
Internet Banking and Mobile App |
Per account per day |
|
Transfer between Regional Australia Bank accounts using Transfer function |
Unlimited |
|
Transfer to another Regional Australia Bank Ltd account function |
Unlimited |
|
Standard Payment/Standard Transfer/Pay Someone transactions |
$10,000 |
|
Osko Payments |
$2,000 |
|
International Payments |
$5,000 |
|
BPAY® Transactions |
$10,000 |
|
Cards |
|
|
Cash out at ATM or with purchase |
$1,000 per card per day |
|
Purchase at point of sale using Visa Card |
Balance of account |
|
Contactless transactions (such as payWave) before a PIN may be required. |
$100 per transaction |
|
NB- changes to limits may be available for some transaction types, upon your request and subject to approval |
|
All unique fees are being removed and with the standard Fees and Charges applying. The following changes that will impact the above accounts are:
Please note, refer to the updated Fees & Charges document for the fees that may be applicable to your account.
The changes made within the document were made in relation to several products no longer being available for new business, being the following:
Adjustments were also made to the formatting and relevant Notes for each product due to the changes.