How to Avoid Fees and Charges

Catalyst Mutual is a member owned and controlled organisation providing financial services.

As such, we do not impose fees or charges in order to generate profit. Most of our fees are related to recouping some of the expenses which we incur in providing services to our members. By doing so, the costs of operating the Credit Union can be distributed more fairly.

Please compare our service charges with those of other financial institutions. We believe that when added to our competitive interest rates, they form a value for money package for all members.

Smart Ways to Avoid Paying Excess Transaction Fees

By making some simple changes to the way you manage your accounts, you can minimise and even avoid paying any excess transaction fees:

1. Use your VISA Debit Card

Tip: Press "CR" when paying for purchases or bills with your VISA card.

Whenever you make a purchase or pay your bills, use your Catalyst Mutual VISA Debit Card and pressing the 'CR' button. This type of transaction is termed a VISA “purchase” and is always a free transaction. VISA Card transactions made over the internet or telephone are also free transactions.

2. Paying Bills

Tip: Use BPAY® via the Internet or Telephone Banking.

To pay bills without incurring additional fees use BPAY® via the Internet or Telephone Banking or your VISA Card over the phone. You can even future-date payments so your bills are paid on time, every time. These are all free transactions.

3. EFTPOS

Tip: Take out extra cash when using EFTPOS, instead of at the ATM.

When you pay for a purchase using EFTPOS and you know you'll require additional cash for later, request additional cash-out as part of your EFTPOS transaction. This way you only make one EFTPOS transaction for many purchases.

4. ATM

Tip: Use Catalyst Mutual's ATM’s when possible.

Tip: Make larger planned withdrawals rather than many small withdrawals.

All ATM fees are charged on a per transaction basis and not on the value of the transaction. Therefore, by simply budgeting, you can minimise the number of ATM withdrawals and the Excess Transaction Fees.

5. Avoid Payment Default Fees

Tip: Use Phone Banking or Internet Banking to check your balances day or night and use a Catalyst Mutual Overdraft for those unexpected expenses.

With Phone Banking and Internet Banking it is easy to keep track of the available funds in your account(s). For those times when unexpected expenses do arise or you need to juggle funds, take advantage of a Catalyst Mutual Line of Credit.