Fee Exemptions

How to avoid transaction fees

You're exempt from all transaction fees1 on your Current and/or Electronic Account(s) that you may have incurred for that month2 if:

You maintain a minimum daily account balance of:

  • Current and/or Electronic Account(s): $4000, or
  • You maintain a minimum daily total funds balance of $25,000 (your "total funds" balance combines the daily balances of all your deposit accounts and lending with us).

Where the applicable balance is held in one or more account of any type; or

  • You're a full-time tertiary student. If you are studying full-time at a recognised tertiary institution, undertaking a course with a minimum duration of one year.4)

You're exempt from all transaction fees5 that you may have incurred for that month,2 across all your accounts with the same customer number, if:

  • You're 65 years of age or older and you have your New Zealand Superannuation or Veteran's Pension credited in full to an account of The Co-operative Bank (the exemption is applicable the month after your 65th birthday); or
  • You're under 18 years of age
    • If you're under 18 years of age you'll not pay transaction fees at The Co-operative Bank (an Other Bank service fee still applies for transactions at an ATM other than Westpac). When you reach 18 years of age, you'll pay these fees in the month after your 18th birthday.

You're exempt from all transaction fees on your Smile On Call Account(s) that you may have incurred for that month2 if:

  • You maintain a minimum Smile On Call Account(s) balance of $4,000.

N.B An Other Bank ATM service fee applies if you don’t use a Westpac ATM.

HOW TO AVOID SERVICE FEES

If you're under 18 years of age

  • You'll not pay service fees at The Co-operative Bank (an Other Bank service fee still applies for transactions at an ATM other than Westpac). When you reach 18 years of age, you'll pay these fees in the month after your 18th birthday.

Cheque Book Facility

  • If you have a Current Account with a revolving credit facility, you are exempt from this fee on that account.
  • If you are 65 years or older and have your New Zealand Superannuation or Veteran's Pension direct credited to a current account you are exempt from this fee on that account.

Telephone Banking Facility

  • If you have a Current Account with a revolving credit facility, you are exempt from this fee on that account.
Notes
  1. Transaction fee exemptions apply to one or more current accounts associated with a customer/membership number.
  2. For this purpose, a month runs from the 26th day of a calendar month to the 25th day of the following calendar month.
  3. Customers eligible for a tertiary student transaction fee exemption must present their current student identification, fees invoice, letter of acceptance of study or similar, to The Co-operative Bank at the beginning of each academic year to renew the exemption.
  4. Transaction fee exemptions apply to one or more account types associated with a customer/membership number. Does not apply to LoadedTM Everyday Card.

N.B An Other Bank ATM service fee applies if you don’t use a Westpac ATM.

All rates are subject to change.

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