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Transaction Allowance

See below for our solution to ATM Direct Charging, and more on your new transaction allowance.

Simply view the below heading of interest or scroll down the page for the full content.

Your free transaction allowance

We reward you for having your banking with us, so the more you have in savings and loans, the more we give back.

How does it work? Each Member receives a free transaction allowance based on their total loans and deposits with us. The higher your relationship balance, the more you're rewarded in free transactions, as seen below.^

Then each chargeable transaction you make is deducted from your allowance - so you only pay a fee if you go over your allowance.

The great news is - 86% of our Members don't pay any fees each month! We doubt the big banks could say that.

Less than $10,000 $25 free monthly transactions
$10,000 to $24,999.99 $50 free monthly transactions
$25,000 to $49,999.99 $75 free monthly transactions
$50,000 and over $100 free monthly transactions

Please note: Retirement Savings Accounts and Qwealth balances are not included in your total relationship balance. These account holders will be provided with a bonus $5 to their total allowance each month. For full list of the cost of each transaction, please refer to our fees and charges brochure.

How your transaction allowance is calculated

Your transaction allowance is calculated on your closing balances on the last day of each month.

For example:

On the last day of October, Ben had a deposit balance of $500 and a balance of $2,000 on his credit card. So his total relationship balance is $2,500. Therefore, Ben's transaction allowance for November is $25 worth of free transactions.

These transactions are free and unlimited!

Here's some great tips for smart - and let's not forget FREE transactions. You can use these as many times as you want each month and you'll never see a fee.

  • All credit transactions
  • EFTPOS transactions made using your Visa Debit card and pressing 'credit'
  • Merchant payments made with your Visa Debit card using 'credit' e.g. buying tickets online
  • Online and Telephone Banking transfers between any Qantas Credit Union accounts
  • Online and Telephone BPAY payments
  • Automatic transfers set up between your Qantas Credit Union accounts ^

Get rewarded with a higher allowance

Increasing your transaction allowance is as simple as increasing your relationship with us.

You could do this by:

  • Moving your savings or loan products that are with other financial institutions to Qantas Credit Union.
  • Thinking of us first. If you’re about to shop around for a deposit or loan product, check out our great products and interest rates here first. Chances are that you'll qualify for a higher allowance and more free transactions every year. 
  • Consolidating your accounts. Your relationship value is calculated per Member number. So, if you have more than one Membership, you may like to consolidate them.^

How can I stretch my transaction allowance?

  • Use Qantas Credit Union preferred ATMs – any Westpac, St. George, Bank of Melbourne, Bank of SA or Qantas Credit Union ATMs
  • Withdraw extra money from EFTPOS when purchasing, so you do 1 transaction instead of 2
  • Press 'credit' instead of ‘savings’ when making purchases with your Visa Debit card
  • Use BPAY online
  • Instead of withdrawing frequent small amounts from ATMs, use them less frequently and withdraw an amount which will last longer
  • Instead of checking your account balances through an ATM, check using Online or Telephone Banking

Please also see our revised fees and charges brochure for a full description of transactions and their cost. Check your account balances via Online or Telephone Banking.

Finding out your transaction allowance

You are able to see your current transaction allowance within Online Banking.

Simply log on to Online Banking and go to your account summary page for a daily update.

You can also see your transaction allowance and a breakdown of the transactions made for the previous month/s recorded on your statement.

Alternatively, you can simply work out your own transaction allowance by adding your total loans and deposits balances on the last day of the previous month.^

Yes, you can use any ATM

At Qantas Credit Union you can use any ATM in Australia, no matter which bank!

Anytime you make a withdrawal or balance enquiry at any ATM, the Qantas Credit Union fee for that transaction and any fee that ATM charges will be deducted from your allowance, and not your bank account.

For example: If I make a withdrawal at Bank Blue it will be $1 from my transaction allowance, plus the fee that ATM charges e.g. $1.50. The total amount deducted from my allowance is $2.50

So if you have just over $10,000 in loans or deposits with us you qualify for a $50 transaction allowance. That's a lot of free ATM transactions per month!

To stretch your allowance when using ATMs, we suggest you use our 'preferred ATM network'. Anytime you use these ATMs you will only have $2 deducted from your transaction allowance.

Use these ATMs and help stretch your transaction allowance even further.

  • Qantas Credit Union ATMs
  • Westpac ATMs
  • St. George ATMs
  • Bank of Melbourne ATMs
  • Cash Card
  • Travelex
  • Bank of SA

See all our Qantas Credit Union preferred ATM locations. ^

More information