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At Victoria Teachers Credit Union we aim to provide low cost banking.
Equitable fees help recover a proportion of the costs associated with providing services to Members and those collected are reinvested to continue to deliver products and services to meet Members’ needs.
Our aim is for all Members to receive a fair deal and superior service.
Our fees are transparent and designed to make it easy for you to monitor your transactions.
For Members’ convenience transactions have been grouped into three categories:
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Pay Per Use Transactions
- these are charged on a per use basis. |
Limited Free Transactions
- perform eight of these free per month, then fees apply thereafter. |
Unlimited Free Transactions
- perform as many of these as you like without incurring fees. |
Unlimited Free Transactions
Unlimited Free Transactions are a great way to maintain low cost banking. These include:
- Purchases on Visa Debit Card by pressing 'credit' or purchases over the phone/Internet
- Internet Banking
- Phone Banking
- All deposits
- Direct debits
- Electronic payments - quoting BSB and account number
- BPAY transactions
Limited Free Transactions
Each month you receive eight free transactions of any combination of the following services:
- Commonwealth Bank ATM withdrawals
- Bank@Post withdrawals
- Personal and Credit Union cheques (effective 1 February 2008)
- EFTPOS transactions
If you exceed your eight Limited Free Transactions you will incur a fee of $1.80 for Commonwealth Bank ATM and Bank@Post withdrawals, and Personal and Credit Union cheques and $0.30 for EFTPOS transactions, per transaction thereafter.
Pay Per Use Transactions
Pay Per Use Transactions are those that place the largest financial burden on the Credit Union. In keeping with the value of mutuality, Members will only be charged for these transactions on a per use basis. It is recommended that these types of transactions be used rarely.
The following transactions are chargeable on a per use basis:
- Non Commonwealth Bank ATM withdrawals - $2.00
- Visa Debit Card Cash Advances - $2.00
- Over the counter cash withdrawals (at the Credit Union) - $1.00
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