Unicredit to decrease Bank@Post withdrawal transaction fee

Unicredit to decrease Bank@Post withdrawal transaction fee

One of the recent changes to fees and charges communicated to members related to transactions at Australia Post outlets (known as Bank@Post).

Previously a $2.50 fee applied to any withdrawal via Bank@Post, and this was increased to $3.00 effective 1 July 2013.

After listening to member feedback and considering overall member and business impacts, Unicredit has taken the decision to decrease the charge relating to withdrawals at Australia Post outlets.

Effective from 1 September 2013, these transactions will now only cost $1.95 for those members that wish to withdraw funds from their Unicredit accounts via Bank@Post.

Even though there are a number of ways to withdraw cash from Unicredit accounts such as ATMs and EFTPOS, we have listened to our members and have reduced the fee to be more reasonable and keep costs for members as low as possible. Unicredit chooses to absorb the remainder of the total cost of a Bank@Post withdrawal transaction.

Unicredit can now also confirm the decision to keep deposit transactions FREE for those members that wish to deposit funds via Bank@Post (and not the $3.00 that was advised in recent communication and the updated fees and charges schedule).

Although there are costs associated with these deposit transactions, Unicredit chooses to absorb this expense because we understand the importance of the Bank@Post service to many members given there are limited avenues for members to physically deposit cash or cheques directly to their Unicredit accounts.

We sincerely thank our members for taking the time to contact us and help us better understand how Bank@Post is being used – Member input is always welcome and is extremely valuable to us so that we can continually adapt and provide the type of service that you could not expect from other larger financial institutions.

Unicredit will continually review fees and charges, and would like to highlight that wherever possible we aim to position our fees at reasonable levels, similar or lower to those of other financial institutions in Western Australia.

We encourage and welcome ongoing dialogue with members so that our products and services can remain both relevant and competitive.