Making banking clearer and simpler

27 fees are disappearing without a trace

We know fees are important to our customers and the community. That’s why we have taken the opportunity to talk with our customers to find out what matters most. As a result we are making some significant changes to make your banking simple and straight–forward.

From 15th December 2009, we’re simplifying our fee structure to provide you with clear and straightforward banking. The key changes for ANZ personal accounts are:

Removing 27 different fees across our personal accounts
Reducing dishonour fees, overlimit and late payment fees
Removing overdrawn fees when the overdrawn amount is less then $50 on ANZ personal transaction accounts
Limiting the number of times overdrawn fees will be charged on ANZ personal accounts

How to pay less on fees

Some fees can be avoided. It’s just a question of knowing where to look and changing your banking habits. Here are our top 15 tips to reduce the amount you pay on fees.

Helping you pay fewer fees on your everyday banking account
Pick the account that's right for you. Sometimes, you pay fees for features you don’t need. By selecting the right account, monitoring your transactions and using electronic banking you can reduce the amount of fees you pay. Use ANZ ATMs. With more ANZ ATMs in convenient locations, avoiding unnecessary non ANZ ATM fees is easier than ever before Have fewer accounts. Reducing or merging the number of accounts you hold could save you money on monthly or annual account fees Stay in control. Switch off the ability to overdraw your account via ANZ Internet ANZ Phone and ANZ Mobile Phone Banking, EFTPOS and ATMs. Any withdrawal via these methods will automatically be declined if the available funds in your account are exceeded – and you will not incur an honour fee. Alternatively consider ANZ Access Limited – this account limits your ability to overdraw and has no exception fees Use technology to stay in front. Receive text alerts and balance information on the go. Sign up to ANZ Mobile Phone Banking¹ and you can find out your balance wherever you are and receive text alerts. Alternatively with ANZ Money Manager² you can manage your money with trigger based alerts to keep up-to-date with your account balances. Investigate fee free options. If you are under 18, a full time student, receive a Government benefit or aged 60 and over you may be entitled to receive fee exemptions. To find out whether you are eligible for any fee exemptions call 13 13 14. We hope these tips help. We will continue to let you know about further changes and initiatives as they occur. 1 Subject to mobile phone network availability. 2 Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the Terms and Conditions before acquiring the product. You should always check your bank or other institution for the most current information.

Helping you pay fewer fees on your everyday banking account

Pick the account that's right for you. Sometimes, you pay fees for features you don’t need. By selecting the right account, monitoring your transactions and using electronic banking you can reduce the amount of fees you pay.
Use ANZ ATMs. With more ANZ ATMs in convenient locations, avoiding unnecessary non ANZ ATM fees is easier than ever before
Have fewer accounts. Reducing or merging the number of accounts you hold could save you money on monthly or annual account fees
Stay in control. Switch off the ability to overdraw your account via ANZ Internet ANZ Phone and ANZ Mobile Phone Banking, EFTPOS and ATMs. Any withdrawal via these methods will automatically be declined if the available funds in your account are exceeded – and you will not incur an honour fee. Alternatively consider ANZ Access Limited – this account limits your ability to overdraw and has no exception fees
Use technology to stay in front. Receive text alerts and balance information on the go. Sign up to ANZ Mobile Phone Banking¹ and you can find out your balance wherever you are and receive text alerts. Alternatively with ANZ Money Manager² you can manage your money with trigger based alerts to keep up-to-date with your account balances.
Investigate fee free options. If you are under 18, a full time student, receive a Government benefit or aged 60 and over you may be entitled to receive fee exemptions. To find out whether you are eligible for any fee exemptions call 13 13 14.

We hope these tips help. We will continue to let you know about further changes and initiatives as they occur.

1 Subject to mobile phone network availability.
2 Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the Terms and Conditions before acquiring the product. You should always check your bank or other institution for the most current information.

Helping you pay fewer fees on your credit card
Make it automatic. Set up a direct debit from your nominated transaction account to your credit card. This can help you pay off at least the minimum payment on your credit card each month. It may also help you avoid Late Payment Fees (this is sometimes referred to as Card Pay Direct). Remember, it can take up to a month for CardPay Direct to be set up, so you may still need to make your next credit card payment manually. Speak with your financial institution to see if this is available from your transaction account. Remember to ensure you have enough money in your account each month. Avoid going overlimit. You can choose to opt out of exceeding your credit card limit. In practical terms this means that we will, where possible, decline authorised electronic transactions if there are insufficient available funds at the time of the transaction – to minimise situations where you go over your credit limit and incur fees as a result. Read more information Know your limits. Receive text alerts and balance information on the go. Sign up to ANZ Mobile Phone Banking¹ and you can find out your balance wherever you are and receive text alerts. Alternatively with ANZ Money Manager² you can manage your money with trigger based alerts to keep up-to-date with your account balances. The more you pay, the less you pay. By paying off more than the monthly minimum repayment amount on your card, you pay off your balance quicker. This could help you save on interest. Of course, it’s always better to pay off the full closing balance on your credit card every month so you can minimise any interest charged where possible. Manage your limit. A higher credit limit can sound exciting, but is it right for you? You can manage your credit limit by increasing it or decreasing it to best suit your needs. You should always consider what the monthly minimum repayment would be and understand whether this would suit your budget. Pay off your credit card. If you have savings, consider using them to pay off your credit card. This can be effective if the interest you pay on your credit card is a higher rate than the interest you earn on your savings. We hope these tips help. We will continue to let you know about further changes and initiatives as they occur. 1 Subject to mobile phone network availability. 2 Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the Terms and Conditions before acquiring the product. You should always check your bank or other institution for the most current information.

Helping you pay fewer fees on your credit card

Make it automatic. Set up a direct debit from your nominated transaction account to your credit card. This can help you pay off at least the minimum payment on your credit card each month. It may also help you avoid Late Payment Fees (this is sometimes referred to as Card Pay Direct). Remember, it can take up to a month for CardPay Direct to be set up, so you may still need to make your next credit card payment manually. Speak with your financial institution to see if this is available from your transaction account. Remember to ensure you have enough money in your account each month.
Avoid going overlimit. You can choose to opt out of exceeding your credit card limit. In practical terms this means that we will, where possible, decline authorised electronic transactions if there are insufficient available funds at the time of the transaction – to minimise situations where you go over your credit limit and incur fees as a result. Read more information
Know your limits. Receive text alerts and balance information on the go. Sign up to ANZ Mobile Phone Banking¹ and you can find out your balance wherever you are and receive text alerts. Alternatively with ANZ Money Manager² you can manage your money with trigger based alerts to keep up-to-date with your account balances.
The more you pay, the less you pay. By paying off more than the monthly minimum repayment amount on your card, you pay off your balance quicker. This could help you save on interest. Of course, it’s always better to pay off the full closing balance on your credit card every month so you can minimise any interest charged where possible.
Manage your limit. A higher credit limit can sound exciting, but is it right for you? You can manage your credit limit by increasing it or decreasing it to best suit your needs. You should always consider what the monthly minimum repayment would be and understand whether this would suit your budget.
Pay off your credit card. If you have savings, consider using them to pay off your credit card. This can be effective if the interest you pay on your credit card is a higher rate than the interest you earn on your savings.

We hope these tips help. We will continue to let you know about further changes and initiatives as they occur.

Helping you pay fewer fees on your home loan
Choose the right loan. It is important to choose the right home loan or combination of loans that meets your individual requirements. By doing this you can avoid paying for features that you don’t need. For instance, if you’re after a simple home loan without the frills, with low fees and a low ongoing variable rate, then ANZ Simplicity PLUS may be a good option. *Reduced Fee Transaction Account. ANZ Home and Residential Investment Loan customers may choose the option of an ANZ Access Advantage account that is free of monthly account service fees. Opt for a Package. ANZ Breakfree package offers customers savings on home loans, residential investment loans and day-to-day banking accounts. You can benefit from: One Annual Fee No Loan Approval Fee Valuation Administration Fee (waived 3 times per package per annum) Renegotiation Fee (waived once per package per annum) No Loan Administration Charge (on Fixed Rate and Standard Variable Rate Home and Residential Investment Loans) No Credit Facility Fee (on Equity Manager) A range of additional benefits on other banking products. 4. Don’t be late. Avoid late payment fees by making your minimum payment by the due date. Why not set a reminder on your mobile phone or note it in a calendar a day in advance? Or set up a simple and convenient online Direct Loan Payment on ANZ Internet Banking. This will automatically send a regular, recurring payment to your ANZ Home Loan. 5. Read your loan terms and conditions carefully. Many home loans have a fee associated with them if you refinance or payout the loan within the first few years. For Fixed Rate Loans there’s a limit on the amount of additional repayments that you can make per year. Additional repayments beyond this amount can trigger an early repayment fee. 6. Use ANZ Redraw. ANZ Redraw gives customers convenient access to additional payments made to their loan which may be a way to fund renovations or other large purchases, without going through a complete application process and paying any additional fees for a new loan. We hope these tips help. We will continue to let you know about further changes and initiatives as they occur. * Non-ANZ ATM Fees apply, salary must be deposited to the account to obtain the waiver. ** For eligibility criteria and terms and conditions for ANZ Redraw please visit refer to Consumer Lending Terms and Conditions Booklet (PDF 799kB).

Helping you pay fewer fees on your home loan

Choose the right loan. It is important to choose the right home loan or combination of loans that meets your individual requirements. By doing this you can avoid paying for features that you don’t need. For instance, if you’re after a simple home loan without the frills, with low fees and a low ongoing variable rate, then ANZ Simplicity PLUS may be a good option.
Reduced Fee Transaction Account*. ANZ Home and Residential Investment Loan customers may choose the option of an ANZ Access Advantage account that is free of monthly account service fees.
Opt for a Package. ANZ Breakfree package offers customers savings on home loans, residential investment loans and day-to-day banking accounts.

You can benefit from:

One Annual Fee
No Loan Approval Fee
Valuation Administration Fee (waived 3 times per package per annum)
Renegotiation Fee (waived once per package per annum)
No Loan Administration Charge (on Fixed Rate and Standard Variable Rate Home and Residential Investment Loans)
No Credit Facility Fee (on Equity Manager)
A range of additional benefits on other banking products.

4. Don’t be late. Avoid late payment fees by making your minimum payment by the due date. Why not set a reminder on your mobile phone or note it in a calendar a day in advance? Or set up a simple and convenient online Direct Loan Payment on ANZ Internet Banking. This will automatically send a regular, recurring payment to your ANZ Home Loan.
5. Read your loan terms and conditions carefully. Many home loans have a fee associated with them if you refinance or payout the loan within the first few years. For Fixed Rate Loans there’s a limit on the amount of additional repayments that you can make per year. Additional repayments beyond this amount can trigger an early repayment fee.
6. Use ANZ Redraw. ANZ Redraw gives customers convenient access to additional payments made to their loan which may be a way to fund renovations or other large purchases, without going through a complete application process and paying any additional fees for a new loan. **

We hope these tips help. We will continue to let you know about further changes and initiatives as they occur.

* Non-ANZ ATM Fees apply, salary must be deposited to the account to obtain the waiver.
** For eligibility criteria and terms and conditions for ANZ Redraw please visit refer to Consumer Lending Terms and Conditions Booklet (PDF 799kB).

We hope these tips help. We will continue to let you know about further changes and initiatives as they occur.

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