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ATM Fee Changes

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As an initial response to the removal of ATM withdrawal fees by some Australian ATM providers (including the major Australian Banks), effective 1 November 2017 we’re amending the ATM withdrawal fees deducted from our customers transaction allowance.

Amendments to ATM fees deducted from the transaction allowance:

  • Qudos Bank will no longer deduct $2 on cash withdrawals and balance enquiries for ATMs provided by Qudos Bank, Westpac, St George and the Bank of Melbourne
  • Qudos Bank will no longer deduct $1 (in addition to the owner charge) on cash withdrawals and balance enquiries for other Australian ATMs
  • Within Australia, Cashcard and Travelex ATMs will continue to incur a $2 transaction allowance deduction for balance enquiries and cash withdrawals
  • Customers will continue to incur transaction allowance deductions for owner charges at Australian ATMs where the owner still levies them

All other arrangements for overseas ATMs remain unchanged. Credit card cash advance fees still apply.

We’ll be announcing the amendments to customers from this afternoon via the following channels:

  • Website news piece – including FAQs
  • myQ EDMs
  • Revised Fees & Charges brochure
  • Social posts
  • Statement ads

Qudos Bank is completing a full review of our transaction fees and is expected to make further amendments early next year.

Please see below FAQs.

  What’s changing?
Qudos Bank will no longer deduct a $2 fee from your transaction allowance for the use of our ATM network, and won’t impose a $1 surcharge on cash withdrawals and balance enquiries for ATMs outside of the Qudos Bank network.
  What do these changes mean for me?
Where major banks have ceased to impose owner charges, you will be able to use those ATMs for cash withdrawals and balance enquiries at no charge.
  What remains the same?
Customers will continue to incur owner charges at Australian ATMs where the owner still levies them.
  When do the fee changes apply?
1 November 2017.
  Do you still have a preferred network?
We no longer have a preferred ATM Network , and recommend you use ATM facilities that don’t charge any additional fees.
  Does this change my transaction allowance?
The removal of ATM withdrawal fees doesn’t change your individual transaction allowance, however your allowance may stretch further if you use fee free ATMs.
  What happens when I use one of the big banks ATMs?
If the ATM owner has implemented fee changes (example CBA) then no fees will be incurred. For those who are still working on implementing their changes, fees may still apply in the form of an ATM owner fee.
  What happens if I use a non-major bank ATM?
Fees may apply. Please ensure you take note of the ATM owner fee which will be communicated on the ATM screen at the time of your transaction. The advised fee will be deducted from your transaction allowance.
  Why does a fee apply for Cashcard and Travelex ATMs?
Cashcard and Travelex ATMs are independent ATM networks and charge owner fees. Qudos Bank applies a flat $2 fee, which will be deducted from your transaction allowance.