ANZ's approach to fees for ANZ Everyday Visa Debit customers

ANZ's approach to fees for ANZ Everyday Visa Debit


ANZ's approach to fees for ANZ Everyday Visa Debit

What is ANZ's approach to fees for 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.

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')?

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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