Bank customers who hold day-to-day savings accounts are often charged for the “privilege” of doing so. Community CPS does not charge you monthly account keeping fees for holding an account with us. After all, it’s your account, and you should be able to access it without having your money whittled away by monthly account keeping fees.
The key is your ‘relationship’ with Community CPS.
Each Community CPS member falls into one of three Relationship Levels and receives a corresponding Fee Allowance. Your Relationship Level depends on the value of your portfolio with Community CPS. The value of your portfolio is calculated by adding together the current balances of your savings accounts, loans and term deposits as well as the drawn down balance of a credit limit or All-In-One account. We also include eight times the value of any PremierCare®annual insurance premium or loan repayment insurance you have paid through us over the last year.
Members who have a special relationship with us – such as life members or pinnacle +plus members – qualify for an upgraded fee level.
The table below details the three Relationship Levels, but for more detailed information, refer to pages 5 - 7 of the
Have you seen the new Fee Summary on your Statement?
The Fee Summary on the back of your Statement has been designed to help you understand the number and cost of transactions you make, and assist you to monitor your expenditure each month or quarter. The majority of our members do not pay fees, as we continue to ensure the fees and charges are lower than other financial institutions.
Our staff are always willing to help you understand the fees associated wth your account, how they can be reduced and also the best account options for your needs. Why not contact us to find out more.
Try our Fee Saver Quick Tips
At Community CPS we are committed to saving you money on fees. We have come up with a range of Quick Tips for you - if you need any more help, please speak to a Community CPS Consultant.
Use your Fee Allowance wisely by monitoring your transactions and thinking ahead.
Do you know the amount you have to spend per month for your Fee Allowance? All Community CPS members have a Fee Allowance of between $8 and $18 each month. This entitles you to a certain number of FREE transactions before you have to pay for each transaction. For example, members with an $8 Fee Allowance, who regularly use non CPS ATMs at $2.50 per withdrawal, will only be able to undertake three ATM withdrawals in one month before they are charged for each withdrawal and every other transaction that month.
By monitoring the way you use your accounts and the number and type of transactions you undertake each month, you could avoid paying excess fees.
Community CPS has recently added a ‘transaction summary’ to your statements every month, so you are able to easily track the way you have used your Fee Allowance throughout the month.
Create a list of the dates on which your direct debits, payments and credits will come in and out of your accounts each month, and carry it with you.
If you know when your insurance payment will be deducted every month, and when your wage will be credited, there is less risk of incurring an overdrawn or declined withdrawal fee. You will be able to plan ahead with your ATM withdrawals, for example, as you will have a better idea of your daily balance.
Why not consider creating a 'budget account' for all of your direct debits and payments. Simply arrange for your direct debits, payments and credits to come from this account and you will never have to worry about being overdrawn again!
Use EFTPOS to withdraw funds from your account when you make a purchase.
When you use EFTPOS to pay for petrol or groceries, take the opportunity to withdraw funds as well for just 60 cents as part of your Fee Allowance. This is a great saving, allowing you more ATM withdrawals and other transactions within your Fee Allowance per month. (Remember that each CCPS ATM transactions costs $1.00, Reditellers, $2.00 and other ATMs, $2.50.)
Use BPAY®
BPAY® is cheap and so easy to use. You can pay most of your household bills in one visit to our Internet Banking web site and pay just 20 cents for each payment.
Use TEXT ME!
If you keep a regular check on your account balance, you will be able to manage your accounts more effectively, and avoid fees for overdrawing your account. Through our TEXT ME! service, you can nominate to receive an ‘event triggered alert’ on your mobile phone, such as a direct credit or debit, or a text ‘on demand’ such as your account balance. To find out more, click here
"Do it yourself"
By using Internet Banking and our Account Information Line for your transactions, you will be charged fewer fees per month. For example, if you transfer funds between accounts using Internet Banking there is no charge – but if you request a transfer Over the Counter in a PFC or with the help of a Member Contact Centre consultant, you will be charged $2.50.
*NEW* Changes to Fees and Charges effective 1 April 2007
Change to Declined ATM and EFTPOS/Visa Debit Fee
As of 1 April 2007 members will receive an allowance of 1 free declined ATM or EFTPOS/Visa Debit transaction (per relationship) per month. A declined transaction occurs if - there are insufficient funds in the account,an incorrect PIN is entered, a balance enquiry is attempted on a bank ATM or the number of PIN tries is exceeded. Thereafter members will be charged $1.25 for each declined ATM or EFTPOS/Visa Debit transaction.
Changes to fees for members aged over 70
As of 1 April 2007, members aged 70 years and over will be exempt from the Declined transaction fee and the Over the Counter transfer fee. However, these members will still attract a fee for Over the Counter withdrawals or cheque encashments (if the monthly Fee Allowance is exceeded).
Changes to Loan Fees
As of 1 April 2007, the amounts of some fees payable under our credit contracts will change. The fees affected, and the new amounts, are as follows:
Unsecured Line of Credit contracts - Credit Limit Variation Fee $ 100.00
Personal Loan contracts, Enviro Loan contracts, Car Loan contracts, Intro Car Loan contracts and Drive On Car Loan contracts - Personal Loan Establishment Fee $150.00
Eastwoods Graduate Loan contracts - Approval Fee $150.00
