Case Studies

We respect that every customer banks differently. Below are case studies of three customer’s transactional habits. How they use their accounts determines what fees, if any, they pay. Try to use these studies to reflect on your own banking habits and ways you too can avoid fees.

Case Study 1

Jane is a teacher who has her salary paid directly into her Everyday Account. She has arranged for part of her wage to be automatically redirected into her Budget Account and uses this cash for expenses and bills. Jane has organised her banking to avoid all transaction fees:

  • Jane withdraws cash weekly from an ATM that has no fees to cover all weekday expenses and weekend activities.(Cost per month = $0)
  • If Jane makes a purchase with her Visa Debit Card and doesn’t need cash, she always presses ‘credit’.(Cost per month = $0)
  • Jane uses BPAY to pay all her bills straight from her Budget Account. (Cost per month = $0)
  • Using Internet Banking, Jane regularly transfers money from her Everyday Account into her Online Saver.(Cost per month = $0)

Total cost per month = $0

Jane has conducted all of her banking fee free.

Case Study 2

Adam, a Business Manager for a Primary School, is saving up to buy a house and is keen to avoid fees. His clever transaction habits help him do exactly that:

  • Instead of writing cheques, Adam uses Internet Banking to make electronic transfers to other accounts, arranges for Direct Debits to come directly out of his account and uses his Visa Debit Card for online purchases. (Cost per month = $0)
  • Adam has arranged for part of his salary to go directly into his Bonus Saver Account. (Cost per month = $0)
  • Adam uses EFTPOS to withdraw cash by pressing the ‘savings’ button when making a purchase, no more than five times a month. (Cost per month = $0)

Total cost per month = $0

Adam has also managed to bank fee free.