It’s easy to minimise fees

Fees and charges are a necessary part of everyday banking. But if you take a little care you should be able to minimise the fees and charges you pay.

At MyState Financial we want to help you minimise the fees you pay and we have provided some simple hints and tips to help you along.

Here are a few handy tips to help you save:

Handy tips

• Avoid making small frequent withdrawals
  This will reduce the number of transactions you make each month.
  
  
• Withdraw cash when you make a card payment
  When paying for purchases with EFTPOS with your MyState Financial Redicard, Redicard PLUS or Visa Debit Card, withdraw cash at the same time so it counts as one transaction.
  
  
• Select ‘credit’ when using your Visa Debit Card
  When paying for purchases with your Visa Debit Card, select the credit option (so you are not using your PIN). Credit transactions are not charged a fee by MyState Financial.
  
  
• Pay bills by Phone or Internet Banking
  Pay bills such as your electricity account, telephone account, general and medical insurance premiums using MyState Financial Phone or Internet Banking. It’s also a good idea to manage your money through Phone and Internet Banking because these transactions are free.

• Take care with cash advances
  Try to avoid Visa Debit Card cash advances through banks and Australia Post, as they attract a much higher fee.
  
  
• Consolidate multiple accounts to one account
  Consolidating multiple accounts can help avoid unnecessary transfers and withdrawals, which may attract fees.
  
  
• Organise a ‘pay-split’ and save
  If you need multiple accounts, try to have your pay, salary or wages split into multiple accounts instead of using up transactions by transferring funds from your main account.
  
  
• Take out a home loan with us – or move one from another financial institution.
  Having a home loan with us will increase your combined balances and should reduce the fees you pay.

Help on minimsing fees

For help on minimising fees, visit a MyState Financial Branch and speak with one of our Personal Advisers or call 138 001.