1. Why are transaction fees changing?
2. Do I still get 5 free ATM withdrawals?
3. Are members who can’t afford to invest or borrow with QPCU being disadvantaged?

The new Loyalty Rebate and fee structure has been developed in keeping with our purpose as a mutual organisation – that is we work together so that all members can benefit from lower rates on loans, higher dividends on savings, and better value-added services. Members with savings, investments and loans contribute to QPCU’s ability to achieve our purpose, so it stands to reason that we should reward this loyalty. At the same time, QPCU incur a fee from external organisation for many of our members’ daily transactions – with some transactions costing more than others. We have taken these factors into consideration in developing our new Loyalty Rebate and fee structure.

We’ve also ensured that there are ways that all our members can transact while incurring little or no transaction fees. Click the link below to download our brochure outlining the Loyalty Rebate and how you can minimise transaction fees.

Rewarding Loyalty brochure

No, under the new structure, every ATM withdrawal attracts a $2.50 fee. However, members who have $20,000 in total business with QPCU receives a minimum $20 Loyalty Rebate which equates to 8 Free ATM withdrawals

All members can still withdraw cash for free by taking advantage of the 5 FREE EFTPOS transactions, and withdrawing cash when doing the weekly shopping. ‘Credit’ transactions on Visa debit cards are also FREE and unlimited, so all purchases when cash isn’t required is still free.

No, members who aren’t in a financial position to borrow or invest have been given the opportunity to make purchases, withdraw cash and pay bills etc. without incurring transaction fees by using free Visa debit purchases using the ‘credit’ option, 5 free EFTPOS, and free Bpay effectively.

If you would like assistance in structuring your account and access options to minimise the fees you pay, please call us on 131 468 between 8:45am and 4:30pm Monday to Friday for a personal analysis.