ATM Reform and Direct Charging

ATM reform was a significant change in the way financial institutions charged customers for certain ATM transactions.  The change was introduced on March 3 2009 at the encouragement of the Reserve Bank of Australia.

ATM Direct charging means that when a cardholder uses their card at an ATM other than one that belongs to their financial institution (a foreign ATM), a fee may be levied by the ATM owner.  Cardholders are shown the ATM owner's fee at the ATM and are given the option to cancel the transaction at no cost if they are not prepared to pay the fee that is displayed.  If the cardholder elects to proceed with the transaction the fee charged by the ATM owner will be added to the withdrawal amount.

Heritage does not charge members a fee (previously this fee was $1.50) to use a non-Heritage or foreign ATM. However, members may incur a fee from the ATM operator.  Heritage has increased the number of free EFTPOS transactions that members receive. This allows members to utilise EFTPOS to get cash out.

To access further information members can refer to the following websites:

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.