Fees and charges

We provide fee-free transactions on each principal banking activity in Australia and would like to see all members avoid fees by using these wherever possible. By making some simple changes to the way you manage your accounts, you can minimise and even avoid paying fees. 

Read our Fees, Charges and Transaction Limits brochure.

Transaction fees

Nexus Mutual charges fees to recoup some of the significant costs incurred with providing transaction services. Fees for most transactions are charged to your Access account at the time the transaction is performed. Transactions where a monthly allowance applies will be charged at the end of each month.Our fee structure has been designed to ensure that most members will not incur any fees. In the 'Tips to avoid fees' section we have included handy tips to help you avoid paying transaction fees.

Read our Fees, Charges and Transaction Limits brochure.

Service fees

Nexus Mutual charges fees for provision of some special services to members, where it would be inequitable for all members to subsidise an expensive service used by a limited number of members.

  • A service fee is charged at the time you use the service and is listed separately in your statement
  • Certain service fees are waived for members aged under 21
  • Note: Service fees for SMS Account Alerts are charged at the end of each month

Review the Fees, Charges and Transaction Limits brochure.

Exception fees

Nexus Mutual charges fees for some ‘exception’ transactions, generally where there is insufficient funds or a dishonoured deposit. Costs are incurred from our service providers (such as banks) and/or where significant staff time is involved in dealing with the matter. The fee charged by Nexus Mutual is less than or equal to the costs incurred in providing the service.

For more information on our exception fees read the Fees, Charges and Transaction Limits brochure.

Loan fees

Nexus Mutual charges loan fees where costs are incurred from our service providers (such as banks) and/or where significant staff time is involved in dealing with the matter.

The fee charged by us is less than or equal to the costs incurred in providing the service.

Review the Loan fees brochure.

Tips to avoid fees

Nexus Mutual provides fee-free transactions on each principal banking activity in Australia and would like to see all members avoid fees by using these wherever possible. By making some simple changes to the way you manage your accounts, you can avoid paying transaction fees.

Here are our top tips for avoiding unnecessary fees:

Purchases and bill payments

Select the ‘Credit’ button (instead of ‘Saving’ or ‘Cheque’) for your purchase when using your Visa Debit Card at an EFTPOS terminal. This will be counted as a free Visa transaction, rather than an EFTPOS transaction.

Cash withdrawals

  • Obtain cash when doing an EFTPOS purchase (where cash out facility is offered by the merchant). This withdrawal will be counted as one EFTPOS transaction, rather than two.
  • Request larger cash amounts when you make an EFTPOS purchase with cash (subject to merchant limits) so that you use fewer transactions.
  • Use rediATMs throughout Australia to avoid direct charges. Find your nearest rediATM.
  • Make larger planned withdrawals at ATMs, rather than numerous small ones so you use fewer transactions.

To help avoid dishonour and overdrawn account fees

  • Apply for an overdraft facility to cover ‘accidental’ over limit incidents.
  • Have your salary credited to the same account as the one which has your direct debits or personal cheques.

Other services

  • Use the Nexus Mutual App, or Internet banking services to check account balances, Pay Anyone or transfer funds.
  • Keep your plastic cards in a secure place and away from magnets (which damage them) to avoid card replacement fees.

Click here to view our Fees, Charges and Transaction Limitsbrochure.