Reduced Fees Program

because banking should

be more rewarding

Reduce (or even avoid) your transaction fees and charges with our Reduced Fees Program.

Do you end up paying more in transaction fees and charges to your banking institution the more you do business with them?

At Bank of Heritage Isle we won’t penalise you for your loyalty – we’ll reward you!*

Easy to qualify for Reduced Fees Program

Simply maintain a combined monthly balance of $5000 or more worth of savings*, investments* or loans* and you will receive more fee free ATM and EFTPOS transactions (as well as qualify for fee rebates), personal cheques and external electronic periodical payments than would normally apply to our Members’ accounts. Please refer to our terms and conditions for the list of savings and loans accounts which are excluded from the Reduced Fees Program.

Make Bank of Heritage Isle Your No.1 Financial Institution and Save!

If you have accounts at other financial institutions it could make sense to transfer them over to us. Use our simple Switching Service.

Other ways to reduce fees & charges

ATM Fees

Receive 10 Free rediATM transactions every month under our Reduced Fees Program. (Members without Reduced Fees Program receive 4 free rediATM transactions every month).

Other institution ATM – First 4 transactions rebated at $2 per transaction – maximum rebate $8 per calendar month under our Reduced Fees Program.

Make larger, infrequent withdrawals rather than several smaller ones.

Combine a cash withdrawal with an EFTPOS purchase.

EFTPOS Transactions

25 Free per month then $0.55 each additional transaction.

Reduced Fees Program* entitles you to unlimited FREE EFTPOS transactions.

If you are paying for goods and have a Bank of Heritage Isle Visa Debit Card, use the Credit (CR)^ function. This is considered as a Visa purchase and does not count towards your total of EFTPOS transactions.

^Note: if you withdraw cash while making a purchase at a merchant using the Credit (CR) function, it will generate a Cash Advance Fee.

Transactions include point of sale purchases and declined transactions.

Balance Enquiries at ATM’s

At cost (charged by the ATM owner at the time of the transaction).

Obtain your balance using Internet Banking or Redidial Telephone Banking on on 131 728 – both services are FREE.

Unlimited Free balance enquiries at rediATM’s.

Counter Cheques and Member Cheques

$3.00 per counter cheque. $1.00 for each Member cheque.

Instead pay your bills with BPAY either with Internet Banking or through Redidial Telephone Banking on 131 728 – both services are FREE.

Qualify for Reduced Fees Program and you’re entitled to 6 FREE Member cheques every calendar month.

Funds Transfer (by email or facsimile)

$3.00 Same Membership. $1.50 Across Memberships. Fee applies if the transfer request is performed by email or fax.

To transfer funds within or across your Membership, instead use the Redidial or Internet Banking service – both services are FREE.

Consolidate the number of memberships you have with us to save on transfer fees.

External transfers are available through Internet Banking – this is a FREE Service.

Visa over the counter cash withdrawal at merchants, another financial institution

(Includes overseas ATM withdrawals) $3.80 per advance.

With the Bank of Heritage Isle Visa Debit Card on your S1 Easy Access Account you can make cash withdrawals through ATM’s and EFTPOS terminals when you press ‘Savings’ or ‘Cheque’^.

Normal ATM and EFTPOS fees apply.

Over the counter withdrawals

$2.00 per cash withdrawals under $25,000. $50.00 per cash withdrawal $25,000 and over.

Reduced Fees Program entitles you to 3 FREE counter withdrawals per calendar month (under $25,000 per transaction).

Make larger, infrequent withdrawals rather than several smaller ones.

Terms & Conditions

Reduced Fees Program

Schedule of Fees and Charges (PDF)

Financial Services Guide (PDF)