Smiles all 'round.
Enjoy a whole lot more free on your everyday banking.
Defence Bank members already enjoy no monthly account-keeping fees and unlimited electronic transactions within Australia. And from 1 November 2024, we've removed even more fees from our transaction, at-call savings and offset accounts.
Say goodbye to overdrawn, declined and dishonour fees.
Defence life is busy and sometimes you may miss a payment or bill while deployed or at sea. So, when life gets in the way, we don’t want to see you penalised by fees.
We've made changes that include the removal of overdrawn, declined or dishonour fees associated with your everyday banking, saving and offset accounts.
Say hello to more fee-free ATM withdrawals in Australia and overseas.
In addition to the unlimited fee-free withdrawals^ at big four bank ATMs and Defence Bank ATMs you already enjoy, you can also make fee-free withdrawals at any atmx by Armaguard network machine. This gives you access to another 1,750 fee-free ATMs Australia-wide.
We have also recently removed our overseas ATM withdrawal fee of $4.10 so you won’t be charged this fee to withdraw or make a balance enquiry overseas.*
Bigger ATM networks, means more free withdrawals (and smiles).
Very soon, you will also gain access to a further 3,000 fee-free ATMs as we join the Next ATM network. Check back soon for updates on this exciting news.
Frequently asked questions.
We have removed fees from the following accounts
- Everyday access
- Offset account
- Pension saver
- Teen and Cadet accounts
- Max eSaver
- iSaver
Note – For overseas transactions the 3% Visa foreign currency conversion fee may still be charged.
We have removed all transactional fees, overdrawn, declined and dishonour fees and ATM fees charged by us. There was already no account keeping fees.
There may be visa foreign currency fees, where the merchant is overseas. The visa foreign currency conversion fee is 3% of the transaction.
You can make fee withdrawals at over 6,300 ATMs across Australia at the big four Bank ATMs, Defence Bank ATMs and at any atmx network machines. We will also be adding additional fee-free networks in the near future to ensure more fee-free withdrawals.
Defence Bank will no longer charge $4.10 to make a cash withdrawal or balance inquiry at an overseas ATM when you use your Visa Debit Card.
The Overseas ATM operator may charge you a fee which should be advised on a screen at the time of withdrawal. An international currency conversion fee of 3% of the transaction value in AUD is also payable when you use your Visa card for a foreign currency transaction or for an Australian Dollar transaction that is with a foreign merchant or that is processed by an entity outside Australia.
We have removed our declined ATM fee.
If you have money available in another account, log in to our app or Online Banking and transfer the money across and try again.
We have removed our 'declined EFT fee'.
Remember you can always check your balance prior to making a purchase using quick balances on the Defence Bank app.
Great news! We have removed our monthly statement fee on savings and transaction accounts.
We have removed the auto transfer dishonour fee.
If funds are still needed at your other financial institution you may need to organise another transfer.
You will need to top up your account to meet your payment obligations. But the good news is, you won’t be charged a dishonour fee.
The fee removal applies to the Everyday Access account, offset and all savings accounts. It will also include some credit cards, where the credit card has a similar named fee i.e. such as overdrawn fees. To simplify we will be closing off the fees globally.
No, there is no fee when you request that we replace your Visa card while you are overseas.
You should always refer to the Defence Bank fees and charges schedules for fee information.
Some ATM operators and merchants may charge a fee.
Defence Bank won’t charge you a fee to withdraw or make an enquiry at an ATM overseas, however the owner may charge you a fee which should be advised on screen at time of withdrawal. You may also be charged 3% of the transaction value.