Fees: Explained

Fee help for when you need it

At Suncorp Bank we're always looking for ways to better support your everyday banking needs. We know people are finding it hard to save these days - that's why we're trying to make things easier with no monthly account keeping fee* on our Kids Savings AccountEveryday Basics accounteOptions account and 55+ account. Everything you need to know about fees, and how to minimise them, all in the one place.

  • Fee Waivers
  • Exception Fees
  • Handy tips
Fee Waivers

Fees Waivers

What's the benefit?

  • No monthly account-keeping fee
For whom the allowance is made The Applicable Account
Everyday Options Cash Management Account
Full time Students   -
People who have a permanent physical or intellectual disability or an impairment that restricts access to Suncorp Bank's banking facilities    
Customers who have $20,000 or more in total funds across their Personal Deposit Accounts and Term Deposits with Suncorp Bank -  

 

Passbook access for Disabled Customers

  • Suncorp Bank recognises that disabled customers may require passbook access to keep a record of their everyday banking transactions.
  • To support this need customers with a permanent physical or intellectual disability are eligible to open a 55 Plus account, regardless of their age.
  • This account has no monthly account keeping fee and allows unlimited fee free Suncorp Bank transactions. To apply for this account please visit your nearest branch.

 

Remember: we're always here to help you with any of your banking needs. For full details about fee waivers or anything else please call us on 13 11 75 or email us at direct@suncorp.com.au.

Exception Fees
 

Types of exception fees and how to avoid them

What is an outward cheque dishonour fee and when is it charged?

An outward cheque dishonour fee is charged when a personal cheque is dishonoured (not paid) by us due to insufficient or unavailable funds in your account. The person depositing or cashing the cheque (payee) doesn't receive their money.

 

How can I avoid outward cheque dishonour fees?

Make sure that you have enough available funds in your account before writing a cheque and that the funds will remain in your account until the cheque will be deposited or cashed by the other party.

For example, if you write a $100 cheque to pay Telstra, you need to make sure that $100 is left in your account until Telstra presents that cheque.

Unfortunately, some payees may delay presenting cheques and you may inadvertently withdraw the funds before the cheque is presented.

Some methods you can use to ensure that the funds remain available are:

  • Check your balances frequently using telephone and Internet banking
  • Use sweeps* to automatically transfer funds from another Suncorp Bank account when a cheque is presented which may overdraw the account
  • Set up alerts on Internet Banking when the balance hits a nominated limit
  • Use alternative payment methods such as transfers or bank cheques so the funds are immediately withdrawn from your account

 

What is a direct debit dishonour fee and when is it charged?

A dishonoured direct debit fee is charged when a direct debit is dishonoured (not paid) due to insufficient or unavailable funds in your account. The person receiving the money from the direct debit (payee) doesn't receive their money.

How can I avoid direct debit dishonour fees?

Check the due date for any direct debit payments and make sure you have enough available funds in your account on the dates your payments are due.

Some methods you can use to ensure that the funds are available are:

  • Check your balances frequently using telephone and Internet banking
  • Use sweeps* to automatically transfer funds from another Suncorp Bank account when a direct debit is presented which may overdraw the account
  • Set up alerts on Internet Banking when the balance hits a nominated limit
  • Use alternative payment methods such as transfers or BPAY so the funds are immediately withdrawn from your account

 

What is an overdrawn account fee and when is it charged?

An overdrawn fee is charged when a personal cheque or direct debit is honoured (paid) even though there are insufficient funds in your account. The person depositing or cashing the cheque (payee) or the recipient of the direct debit authority receives their money.

We refer to this fee as a Payment honour fee.

 

How can I avoid overdrawn account fees?

Make sure that you have enough funds in your account when the funds are withdrawn by the payee via cheque or direct debit.

Some methods you can use to ensure that the funds are available are:

  • Check your balances frequently using telephone and Internet banking
  • Use sweeps* to automatically transfer funds from another Suncorp account when a cheque or direct debit is presented which may overdraw the account
  • Set up alerts on Internet Banking when the balances hits a nominated limit
  • Use alternative transactions such as transfers, Bpay or bank cheques so the funds are immediately withdrawn from your account

 

* Sweeps

You can set up an Insufficient Funds Sweep between your Suncorp Bank accounts which will automatically transfer money into your nominated Suncorp Bank account if there are insufficient funds in that account to cover a direct debit or personal cheque. The cost of a sweep is $1.50 per use, which is much less than the fees for overdrawing your account or for the dishonour of a direct debit or cheque. For Everyday Options customers Sweep functionality is fee free. Visit your nearest branch to learn how to set one up.

Hints and Tips
 
Fee type How to avoid it

Bank Cheque Purchase

  • External Transfer: A simple way to transfer money from your Suncorp Bank account to an account at another financial institution and is fee free on most Suncorp Bank products.
  • Visa Debit and Visa Credit: Our Visa Debit and Credit facilities can be a more cost effective and convenient way to make your purchases. Plus you’ll have access to Visa’s 24 million acceptance locations around the world. (Overseas transactions may attract a fee).

Payment Honour Fee

  • Automatic Sweep: Setting up a ‘sweep’ (automatic transfer) between your accounts to maintain a minimum balance reduces your risk of overdrawing your account or having a payment dishonoured. Sweeps prevent your account from overdrawing when a direct debit is made or cheque is presented provided you have sufficient funds in your other account. You may be charged a 'sweep’ fee of only $1.50 per sweep ('sweeps' are free on our Everyday Options account) compared with the Payment Honour Fee.
  • Phone and Internet Banking: These services are a convenient way to check and manage your account as well as stop a scheduled automatic payment. Suncorp Bank does not charge customers to use Phone and Internet Banking. If an Internet Banking security token is required a fee may be charged.
  • Balance Reminder: Set up free balance reminders that automatically send you an email when your account balance falls below an amount you choose and can be easily set up on Internet Banking.

Non-Suncorp Bank ATM Fee

  • Suncorp Bank and Bendigo Bank ATMs: To avoid ATM fees, use your Suncorp Bank card at Suncorp Bank or Bendigo Bank ATMs. Our extensive ATM network is free to use for many Suncorp Bank everyday transaction accounts.
  • EFTPOS: EFTPOS purchases are fee free on most Suncorp Bank everyday transaction products. Many retailers also provide ‘cash out’ facilities at the point of sale which can save you time and money if you’re not near a Suncorp Bank ATM.

Immediate Extra Statement Print

  • Phone and Internet Banking: Transaction history and account balance information is available through Phone, Mobile Phone and Internet banking.
Transfer Failure Fee
  • Phone and Internet Banking: These services are a convenient way to check and manage your account as well as stop a scheduled automatic payment. Suncorp Bank does not charge customers to use Phone and Internet Banking. If an Internet Banking security token is required a fee may be charged.
  • Balance Reminder: Set up free balance reminders that automatically send you an email when your account balance falls below an amount you choose and can be easily set up on Internet Banking. 

 


Banking Products issued by Suncorp Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722. Please read the Product Information Document before making any decisions regarding this product. Visit your nearest  branchor call 13 11 75 for more information. Terms and Conditions, fees and charges may apply and are available on request.

*Fees and charges subject to change without notice.