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Fees & Charges

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PLEASE NOTE: From 1 October 2019, SERVICE ONE will be operating under a new Schedule of Fees and Charges.

SERVICE ONE's fees... at a glance

Our approach to fees is simple - we look at your entire membership and the more SERVICE ONE Alliance Bank products and services you hold, the less you pay on everyday banking fees.

Depending on the types of SERVICE ONE Alliance Bank products and services you hold and/or your Average Relationship Balance, you will receive a monthly Fee Allowance and/or may be exempt from paying everyday banking fees as per Section 1.3 of the Schedule of Fees and Charges.

The Average Relationship Balance is calculated using the sum of the monthly average deposit balance (savings and term deposits) and monthly average loan balance (loans and drawn down balances of approved overdrafts) in SERVICE ONE Alliance Bank products. For instance, if you have an average loan balance of $6,000 and an average deposit balance of $5,000, your Average Relationship Balance will be $11,000.

Fee Allowance

Below is a snapshot of the approach taken to determine your monthly Fee Allowance. At the very least, all SERVICE ONE Members are eligible for at least a $4.00 monthly Fee Allowance, but many Members are eligible for higher levels. The Fee Allowance can be used to offset the following everyday transaction fees as detailed in Section 2.1 of the Schedule of Fees and Charges. This includes (but is not limited to):

  • over the counter cash withdrawals
  • personal cheque withdrawals
  • EFTPOS transactions
  • Visa transactions
  • ATM cash withdrawals
  • Direct Debits, and
  • Bank@Post transactions.

Please note any unused Fee Allowance does not accumulate. Members will receive the highest applicable level each month. This information should be read in conjunction with the Schedule of Fees and Charges (link below).

Members with: Fee Allowance per month:
  • An Average Relationship Balance of $125,000 or more
  • A FREEstyle Student Account
  • Under the age of 25
  • Approved Social Entity status, or
  • A Pioneer or Home Owner Banking Package.
Unlimited
  • An Average Relationship Balance between $25,000 and $124,999.99, or
  • A Wealth Manager Banking Package or EDVEST.
$30.00
  • A business membership.
$20.00
  • An Average Relationship Balance between $5,000 and $24,999.99.
$15.00
  • An Average Relationship Balance between $2,000 and $4,999.99, or
  • A Concession Holder.
$6.00
  • An Average Relationship Balance below $2,000.
$4.00

Low fee Accounts

Members may find it beneficial to open one of the following accounts to minimise transaction fees. The following accounts are excluded from transaction fees as listed in Section 2.1 but eligibility requirements may apply. Balances in the below accounts contribute to your Average Relationship Balance.

Account Eligibility to open and maintain Monthly Account Fee (per account) Ability to waive fee
Concession Account A Concession Holder Nil N/A
All Smiles Account
N/A $5

$2,000 or more is credited to a single account from an external source in a calendar month (transfers from other SERVICE ONE Alliance Bank accounts do not qualify).

Members under the age of 25.

Members with an Average Relationship Balance of $125,000 or more.

Please note: where there is no debit transaction in a calendar month (excluding internal transfers), the fee will not be charged.

Schedule of Fees and Charges 
  • Schedule of Fees and Charges (1 October 2019)
Schedule of Fees and Charges PDF
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