Tools & Resources

myth: I have to go to a bankmecu Service Centre to deposit my cash and or cheques

Fact: bankmecu customers can deposit money at any of 3,300 Australia Post outlets offering Bank@Post services. bankmecu also has 28 service centres for customers to visit.

Find your nearest rediATM

Find your local Bank@Post outlet

Find your nearest bankmecu Service Centre

myth: when I enter the wrong PIN or have insufficient funds I am charged $1.05 fee

Fact: As at March 2010 this fee was removed from bankmecu's fees and charges schedule.

Find out more information

myth: bankmecu has a very small number of ATMs

Fact: bankmecu customers have access to the rediATM network which includes every NAB ATM - that's 3,500 ATMs Australia wide. rediATM is the direct-charge free network with the most ATM locations in the country.

Find your nearest rediATM

Find out more about the rediATM network

myth: bankmecu is hard to access if applying for a loan

Fact: You can apply for a loan over the phone or online - no need to move from your chair! bankmecu can identify you with new online technology and mail out contracts.

Find out more information

myth: bankmecu doesn't offer eStatements

Fact: bankmecu has offered eStatements since Apr 2009 - any customer can access eStatements for free.

Find out how to register for eStatements

myth: Every transaction on my VISA Access card costs $1.65

Fact: Visa transactions on your Visa Access card are free.

bankmecu charges $1.65 per month to administer and maintain security of your card. 24/7 transaction monitoring ensures all your transactions are legitimate. This valuable service protects our customers. Other transactions (e.g. ATM withdrawal) may attract fees subject to customer reward.

Find out more about fees

myth: I am getting charged a fee when I press 'CR' on my VISA Access card

Fact: bankmecu does not charge any fee for VISA Access card purchases where you press CR.

Find out more about VISA Access cards

myth: customer owned banks are not-for-profit, so why does bankmecu charge fees?

Fact: Firstly, let's dispel the not-for-profit myth.

All customer owned banks are required to make a profit in order to meet the strict prudential standards imposed on all financial institutions by the Australian Prudential Regulation Authority (APRA).

However what's different to other ‘solely for profit financial institutions' is that the profits bankmecu make are retained by all customers rather than being distributed to a group of external owners. These profits are then invested for the benefit of all customers and we call them our Customer Reserves. Our reserves ensure your customer owned bank remains strong.

Fees are determined to reflect partial or full cost recovery to bankmecu and are not designed to make a profit.

Learn more about how bankmecu provides value to customers

myth: bankmecu's customer rewards are difficult to understand

Fact: It's easy to work out when you know how.

Your customer support level is determined by adding up the total value of your  savings, investment and loans (minus any over limit accounts). The table below indicates what reward you qualify for in the following month.

Calculate your customer reward:

Speak with someone about calculating my customer reward

Find out more about customer rewards