ANZ - Approach to Fees FAQs

ANZ's approach to fees for ANZ Consumer credit cards and ANZ Everyday Visa Debit customers

At ANZ, we want to make your banking simpler. To ensure your everyday banking is simple and fair we are committed to helping you understand and avoid fees such as Overlimit, Overdrawn or Late Payment Fees.

To achieve this, we are committed to:

Full disclosure - ensure the disclosure of fees remains clear, simple and accessible.

Keeping fees simple - by charging a single flat amount for Overlimit and Late Payment Fees for ANZ consumer credit card customers and a daily fee for Overdrawn Fees for ANZ Everyday Visa Debit customers (except where no Overlimit or Late Payment Fees applies for customers who hold an ANZ Access Basic account).

Helping you avoid these fees - for example, by allowing customers to switch off the ability to exceed their credit card limit or overdraw their ANZ Everyday Visa Debit on electronically authorised purchases and cash transactions, and by providing regular advice to customers who incur these fees on ways they can avoid them.

Applying these fees fairly - including reversing the first Overlimit, Overdrawn or Late Payment Fee they incur if they contact ANZ to discuss the fee and how to avoid the fee in the future, and not charging more than one credit card Overlimit fee in any one monthly cycle.

How do I elect to 'Opt Out'?

For both credit cards and ANZ Everyday Visa Debit 'Opt Out' requests, you can contact ANZ Cards on 13 22 73 anytime or download a form from www.anz.com. This form will need to be completed and signed prior to you either faxing or sending via the post to ANZ Cards as indicated on the request form.

What will happen when I 'Opt Out'?

By opting out, we will decline electronically authorised transactions, for example, petrol or groceries, to larger purchases such as TV's, at the point of sale, if the transaction will take you over your credit limit for credit card customers or your account would become overdrawn for ANZ Everyday Visa Debit customers. However, there may be times when your account will still go over limit or overdraw, for example if a merchant processed a transaction without seeking authorisation - including recurring transactions and direct debits such as insurance premiums - or while our systems are unavailable.

The recent news articles mentioned you would provide information on how to avoid common fees. How can I avoid fees when using my ANZ credit card or ANZ Everyday Visa Debit?

Regularly check your ANZ account balance to make sure you have sufficient cleared funds to cover your transactions. Your account balance can be checked via any ANZ ATM in Australia or through ANZ Internet, Phone and Mobile Phone Banking.
Allow time for cheques and ATM deposits to clear before attempting to make a purchase or drawing against these funds. We recommend you allow 3-5 business days.
Check when your recurring transactions and/or direct debits are due and reschedule them if necessary.
For credit cards, set up ANZ CardPay Direct facility to make automatic credit card repayments from a nominated Australian Bank Account each month.
For ANZ Everyday Visa Debit, set up Salary and Direct Deposits by providing your employer or other paying organisation with the BSB and Account number, located on the back of your card.
You can request to have electronically authorised transactions declined if the transaction will take you over your agreed credit card limit or overdraw your ANZ Everyday Visa Debit. Withdrawals made via ANZ Internet, Phone and Mobile Phone Banking, ATM and electronic merchant terminals will, where possible, be declined if your account is over your credit limit or overdrawn, or if the transaction will cause your account go to over the agreed credit limit or overdraw.
For more information on how to avoid fees visit anz.com/simplify

Who is eligible for an ANZ Access Basic account?

The ANZ Access Basic account has been designed to offer affordable banking whilst still providing customers with easy access to their funds.

The ANZ Access Basic account is only available for customers who:

Hold one of the following cards: Seniors' Card, Pensioner Concession Card, Centrelink Health Card or a Repatriation Health Card (Veteran Affairs Card), AND
Have their benefit or income paid directly into their ANZ Access Basic account, AND
Sign an ANZ Access Basic account opening authority (as per the Terms and Conditions brochure). This authorises ANZ to check the customer's continuing eligibility with Centrelink or Veteran's Affairs.

ANZ Access Basic benefits at a glance:

No monthly account service fee.
Unlimited ANZ transactions at ANZ branches, ANZ ATMs, or via EFTPOS, ANZ Internet or Phone Banking*.
Concessional banking for eligible customers.

*Non-ANZ ATM Fees apply

I was charged $20.00 for a Late Payment/Overlimit fee, but I am on a pension/Government benefit. Why was I charged? (If the customer does not have an ANZ Access Basic account).

The Late Payment/Overlimit/Overdrawn Fee waivers are applied automatically to credit card/ANZ Everyday Visa Debit accounts linked to ANZ Access Basic accounts only. Please call us if you have any questions regarding the ANZ Access Basic account and your eligibility.

Can you back date this waiver for other fees charged?

No. The waiver for Overlimit/Overdrawn/Late Payments fees for Access Basic accounts commenced from 15 December 2009. However if you are charged one of these fees in the future, please call us to discuss options for avoiding the fee. If you have not previously had such a fee refunded to your account, we may be able to refund the fee.

What about all the fees I've already paid, can they be refunded?

No, but if you receive a charge for one of these types of fees in the future, please call us to discuss options for avoiding the fee. If you have not previously had such a fee refunded to your account, we may be able to refund the fee.

Where can I get more information?

All information on the new ANZ’s approach to fees for Consumer Credit Cards and ANZ Everyday Visa Debit is published on www.anz.com.

If I 'Opt Out', can I change my mind at a later date?

Yes. If you change your mind, please contact us on 13 22 73 anytime to discuss. Transactions may be approved and may take you over your credit limit or overdraw your ANZ Everyday Visa Debit, resulting in an Overlimit/Overdrawn Fee. Please remember that it will not take effect until after your next statement is issued.

ANZ's approach to fees for ANZ Consumer Credit Cards

What is an Overlimit fee and when is it charged?

Where a transaction, if processed, would take you over your credit limit, you make a request for an Informal Overlimit amount. ANZ will allow the transaction to be processed as an Informal Overlimit amount subject to certain conditions being met. If this service is used, you will be charged an Overlimit Fee which will be applied at the end of your monthly statement cycle.

How much will I be charged?

A $20 fee is applied to your account if you exceed your credit limit and utilise the Informal Overlimit service at any time during your statement period. If you are the recipient of Government benefits and also hold an ANZ Access Basic account, you will not incur a fee.

Are there any exceptions?

There are no exceptions, but if you are the recipient of Government benefits and also hold an ANZ Access Basic account, you will not incur an Overlimit Fee.

Also, if since opening your account you have kept your transactions within your credit limit, and this is the first time you have gone over your credit limit, we will be able to reverse this fee if you contact us to discuss ways to avoid such fees in the future.

I have an ANZ Credit card account, am I able to elect not to go over my agreed limit ('Opt Out')?

Yes. The 'Opt Out' function is available to all ANZ credit card account holders (excluding Aussie MasterCard accounts).

Does this mean that my account can never exceed its limit?

No, as there may be times when your credit card account will still go over the credit limit, for example if a merchant processed a transaction without seeking authorisation - including recurring transactions such as insurance premiums - or while our systems are unavailable.

So when I 'Opt Out', does that guarantee that you will not charge me any more Overlimit fees?

No, as there will still be some transactions (for example if a merchant processed a transaction without seeking authorisation - including recurring transactions such as insurance premiums - or while our systems are unavailable) that may take you over your credit limit, we recommend that you continue to monitor your available credit and ensure sufficient funds are in your account when these transactions are due, to avoid taking your balance over your credit limit and incurring an Overlimit Fee.

By calling and opting out now, does this mean that my purchases may be declined today, if I reach my credit limit?

No. Our system will not recognise that you have opted out until your next ANZ credit card statement is issued.

I have an ANZ Access Basic account - when will the Overlimit or Late Payment Fees waiver apply to my credit card account?

As of 15 December 2009, all credit card customers who hold an ANZ Access Basic account will have the concessional fees automatically applied to any Overlimit or Late Payment Fees incurred from that date.

I have an ANZ Access Basic account and I have been charged $20.00 for a Late Payment/Overlimit fee.

Customers with ANZ Access Basic accounts have been identified and the concessional fees waivers are automatically applied. If you have not received a refund, contact us on 13 22 73 anytime to discuss.

I have an ANZ Access Basic account and a credit card, will I be able to 'Opt Out' as well as have the Overlimit or Late Payment Fee waiver applied?

Yes. However, whilst your Overlimit and Late Payment Fee waiver will automatically be applied to your ANZ credit card account, the 'Opt Out' process will need to be completed manually. Therefore we ask customers to contact us on 13 22 73 anytime to discuss, or to complete a 'Credit Cards Overlimit Opt Out' Form that can be downloaded from this site.

Do I have to apply for the Overlimit or Late Payment Fees waiver to apply to my credit card (if I also have an ANZ Access Basic account)?

No, this will/has been automatically applied to your account from/as at 15 December 2009.

ANZ's approach to fees for ANZ Everyday Visa Debit

What is ANZ's approach to fees for ANZ Everyday Visa Debit customers?

What is an Overdrawn Fee and when is it charged?

From time to time a transaction on your account, if processed, may exceed the available funds in your account. In those situations ANZ may provide you with an Informal Overdraft facility. When utilising this service, you may be charged an Overdrawn Fee when the balance of your Informal Overdraft facility is more than $50 and will be applied at the end of your monthly statement cycle.

How much will I be charged?

A $6 fee is applied to your account daily if you overdraw your account and the balance of your Informal Overdraft facility is more than $50 at any time during your statement period. This applies up to a total of ten ANZ business days and a maximum of $60 per statement month. If you hold are the recipient of a Government benefit and hold an ANZ Access Basic account, you will not incur an Overdrawn Fee.

Are there any exceptions?

There are no exceptions, but if you are the recipient of a Government benefit and hold an ANZ Access Basic account, you will not incur an Overdrawn Fee.

Also, if since opening your account, you have not overdrawn your account, and this is the first time you have incurred an Overdrawn fee, we will be able to reverse this fee if you contact us to discuss ways to avoid fees in the future.

I have an ANZ Everyday Visa Debit, am I able to elect not to overdraw my account ('Opt Out')?

Yes. The 'Opt Out' function is available to all ANZ Everyday Visa Debit account holders.

By choosing to 'Opt Out', we will endeavour to prevent your ANZ Everyday Visa Debit from becoming overdrawn, where possible, by declining purchases and cash withdrawals if your account is overdrawn or if the transaction would cause your account to overdraw.

Does this mean that I can never overdraw my account?

No. There may be times when your ANZ Everyday Visa Debit will still become overdrawn, for example if a merchant processed a transaction without seeking authorisation - including recurring transactions and direct debits such as insurance premiums - or while our systems are unavailable.

So when I 'Opt Out', does that guarantee that you will not charge me any more Overdrawn fees?

No, as there will still be some transactions that may overdraw your account, we recommend that you continue to monitor your available funds, and ensure sufficient funds are in your account when these transactions are due, to avoid overdrawing your account and incurring an Overdrawn Fee.

By calling and opting out now, does this mean that my purchases may be declined today, if my account is overdrawn or the transaction would cause my account to overdraw?

No. Our system will not recognise that you have opted out until your next ANZ Everyday Visa Debit statement is issued.

I have an ANZ Access Basic account - when will the waiver for Overdrawn fees apply to my ANZ Everyday Visa Debit?

As of 15 December 2009, all ANZ Everyday Visa Debit customers who hold an ANZ Access Basic account will have the Overdrawn Fee waiver automatically applied.

I have an ANZ Access Basic account and I have been charged a $6.00 Overdrawn fee.

Customers with ANZ Access Basic accounts have been identified and the concessional fees are automatically applied. If you have an ANZ Access Basic account, please check your statement to ensure you have not received a refund. If you have not received a refund, contact us on 13 22 73 anytime to discuss.

I have an ANZ Access Basic account and an ANZ Everyday Visa Debit, will I be able to 'Opt Out' as well as have the Overdrawn Fee waiver applied?

Yes. However, whilst your Overdrawn Fee waiver will automatically be applied to your ANZ Everyday Visa Debit, the Opt Out process will need to be completed manually. Therefore we ask ANZ Everyday Visa Debit customers to contact us on 13 22 73 anytime to discuss, or to complete an 'ANZ Everyday Visa Debit Overdraw Opt Out Form' that can be downloaded from this site.

Do I have to apply for the Overdrawn Fee waiver to apply to my ANZ Everyday Visa Debit (if I also have an ANZ Access Basic account)?

No, this has been automatically applied to your account from 15 December 2009.

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