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How to minimise fees

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Our approach to fees is simple - we look at your entire membership and the more products and services you hold and/or the higher the Average Relationship Balance you hold with SERVICE ONE, the less you pay on everyday banking fees.

Tips to help you keep your fees minimised

  • Increase your deposit and loan balances as this will give you a higher Average Relationship Balance (and a higher Fee Allowance). The calculation of the Average Relationship Balance takes into consideration the balances on personal loans, car loans, mortgages and any overdrafts as well as term deposits and any other deposits held with us.
  • Refinance your home loan to a SERVICE ONE Alliance Bank home loan. Our rates are very competitive and Members with an Average Relationship Balance of $125,000 or more will receive an unlimited Fee Allowance to offset everyday fees and all Members with mortgage loans are exempt from paying the monthly Visa Card Fee.
  • Use ATMs that don't charge Direct Charge fees.
  • Use Direct Debits as these are included in your Fee Allowance each month and Members with an Average Relationship Balance of $125,000 or more will receive an unlimited Fee Allowance each month.
  • There is no charge for obtaining balances or transferring funds to another SERVICE ONE Alliance Bank account using phone or Internet/mobile banking.
  • Pay using a Visa Card as these transactions do not attract any SERVICE ONE transaction fees when you press ‘credit’ and use a PIN or through the use of payWave (if available), or when a signature is provided.
  • Plan withdrawals - withdraw larger amounts less frequently.
  • Use EFTPOS to withdraw cash when purchasing goods or services as this counts as only one transaction.
  • Use more of our products and services, as holding certain products and services will give you a higher Fee Allowance per month.
  • Always have sufficient cleared funds in accounts to cover all transactions and fees and charges and use an overdraft as a safety net.
  • Eligible concession holders receive a $6.00 Fee Allowance per month, are exempt from paying the monthly Visa Card Fee and pay reduced Honour Fees. To maintain this exemption, eligible concession holders must notify us, at least annually, of their continuing eligibility.
  • Eligible FREEstyle Student Account holders should advise us at least annually of their continuing full time study arrangements to access FREEstyle benefits.

NOTE: this information should be read in conjunction with the Schedule of Fees and Charges.


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