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Minimising Your Account Fees

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At Bank Orange, you will not be charged monthly account keeping fees on your transaction, savings or loan accounts.

That is one of the many benefits to having membership with Bank Orange.

We do, however, charge exception fees, which in most cases, can be avoided by careful management of your account. Careful management includes checking your transaction account balances before making a purchase; not withdrawing or refinancing funds before their maturity date and many other situations.

Minimise your account fees

  • Fee-free Internet Banking, Mobile banking or Mobile App will allow you to check your balances even when you are away from our branch
  • SMS banking or Mobile App can be done at the touch of a button for fast account balance enquiries
  • Reconcile your account so you don't overdraw your account when you write a cheque or a direct debit is due
  • BPAY allows for a direct transfer of funds from your account to the biller's account via Internet banking, Mobile App banking or in our branch. You can also set up a schedule for payments on a regular basis, or do them as a one-off. These are free transactions.
  • Internet banking allows you to set up regular BPAY payments or external transfers from your account. This is a free transaction channel.
  • Periodical payments can be organised in our branch to pay directly from your account to the billers account on a regular basis.
  • Direct debit allows for the biller (merchant) to debit your account on a regular basis. You will need to supply the biller with our BSB number (802-129) as well as the account number (or Alternate Reference Number) for the funds transfer. Direct debit is a free transaction facility.
  • Our Budget Account can help you to allocate all bill paying funds to the one account for easier budgeting management.
  • When you use EFTPOS, take cash out at the point of sale as well. That way, you'll minimise the number of ATM cash transactions you conduct in a month.
  • To avoid the possibility of least-cost routing, please dip your Visa Debit card and press the 'Credit' button on the terminal.
  • Our payroll allocation direct credit service allows you to nominate the accounts that you would like to have your payroll split when we receive your pay. That way, you can budget more accurately, and plan your financial commitments, so that you can match your outgoing funds with your incoming funds.

Minimise your loan fees

  • If you have personal loans across a number of different banks or finance companies, you could possibly save fees by consolidating your loans to a Bank Orange personal loan. Our loans do not require a monthly account keeping fee.
  • It is important to monitor payments to your home loan to make sure that your payments are being paid at the required amount (or more) and on time. When you have a change in your payroll, or an interest rate increase, you may need to contact us to let us know of any changes to the payment required. You can check your balance and payment history on your loans, by using Internet, phone or SMS banking, checking your member statement or by calling us.

Minimise your credit card fees

  • If you are a regular credit card user, set up a monthly or weekly repayment to ensure that your card is always paid on time. That way, you will minimise the interest that you pay on your credit card.
  • A different interest rate may apply on your credit card, when you make a cash advance.
  • Although credit cards offer a safe, convenient way to make purchases when you are travelling, you should be aware that conversion fees usually apply when overseas. So, not only will you be paying the difference in the conversion rate to Australian dollars, you may also pay a fee for the bank to calculate the conversion payment. Please factor in these costs when planning a budget for a trip overseas.
  • Use your credit card responsibly, and never purchase more than you know that you can repay in a reasonable amount of time. If you cannot afford to pay off the balance on your credit card each month, then at least pay more that the required amount. When you plan to pay off multiple credit cards, pay off or down the most amount of money toward the card which holds the highest interest rate.

 

Tips and information you might be interested

Need additional assistance?

If you have a question of your own that is not covered, then please contact us today.

We are here to help

For more information about spending wisely, minimising fees or to get help in setting up a budget, please contact us during business hours. 

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