SMALL BUSINESS BANKING FEES

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1 SMALL BUSINESS BANKING FEES ALL YOU NEED TO KNOW

2 Welcome to a different kind of banking The Co-operative Bank is the only bank in New Zealand to share its profits with its customers. We re truly different from other banks because we re owned by our customers and we were built on the idea of giving back. In fact, we ve been giving back to New Zealanders since Because we re a co-operative, our main purpose is to create prosperity for our customers, not to create profit for anyone else. Small business banking fees Business Current Account Transaction Fee Plan Summary Pay As You Go For businesses that make few monthly transactions Pre-Pay Monthly Account Fee $5.00 $10.00 Electronic transaction fees includes Automatic Payments, Direct Debits, Direct Credits, Bill Payments, and EFTPOS transactions $0.25 per time For businesses that make a lot of monthly transactions First 30 Electronic Fees per month1 pre-paid then $0.25 per time Manual transaction fees includes deposits and withdrawals handled by our staff at a branch and cheques presented to the account $0.60 per time First 10 Manual Fees per month1 pre-paid then $0.60 per time ATM transaction fees includes withdrawals, transfers, enquiries and declined transactions $0.50 per time $0.50 per time ATM service fee: ATM transactions that are not made at a Westpac ATM will incur a $1.00 Other Bank ATM Fee in addition to the applicable ATM transaction fee. Pay As You Go Pre-Pay Westpac ATM Other Bank ATM $1.00 per time $1.00 per time 2

3 Service fees Type Fee ($) Frequency Automatic payment Establishment/alteration by branch 5.00 per time Telephone/internet banking alteration 2.00 per time Establishment by internet banking 2.00 per time One-time cancellation 5.00 per time Payment default per time Business cheque book 2 Cheque book per book Special answer per time Stop payment per time Dishonour per cheque Cheque Bank Cheque 5.00 per cheque Stop payment per time Inactive accounts 3 At selection per selection Ongoing 3.50 per month 1 Business overdraft Overdraft establishment Overdraft management 4 1% of facility amount $ % of facility limit $5.00 per month on establishment on establishment and monthly thereafter Unauthorised overdraft per unauthorised month International ATM/EFTPOS 5 ATM withdrawal 6.50 per time ATM balance enquiry 0.70 per time ATM declined withdrawal 0.50 per time EFTPOS purchase/withdrawal 0.50 per time EFTPOS declined purchase/withdrawal 0.50 per time 3

4 Type Fee ($) Frequency Other Bill payment establishment in branch 5.00 per payee Card replacement per time Cheque search fee per cheque Information search fee per hour (minimum $15.00) Copy statement 3.50 per page Direct debit dishonour per time External transfer withdrawal 5.00 per time Bill payment in branch 5.00 per time Other Bank ATM Fee: transaction at an ATM other than Westpac 1.00 per time Payment reversal per time Telephone banking facility per 3 months Telephone/internet banking failed bill payment 5.00 per time SafeKey free first token per lost token replacement TXT banking per message Cash deposit and withdrawal handling (for notes totalling $1,000 or more) Cash deposit and withdrawal handling (for coins totalling $100 or more) 2.00 per $1, per $100 Change order 5.00 per change order over $50 Cheque clearance 0.25 per cheque deposited 4

5 Loan fees Type Fee ($) Frequency Business loan establishment 1% of loan amount $400 per loan per time Loan Variation (change in interest rate, re-fixing) per time Early repayment per time Notes 1. For this purpose, a month runs from the 26th day of a calendar month to the 25th day of the following calendar month. 2. A cheque book service fee of $15.00 is charged on opening the facility, and as replacement cheque books are issued. If the facility is closed, no refund of the unused fee is made. 3. An inactive account service fee is charged to Business Current and Business Online accounts when we deem the account to be inactive, and every month while the account remains inactive. Inactive means no transactions in the last 12 months, no term deposit, no loan, an At Call balance less than $ and the customer is over 18 years of age. If the account balance is less than $20.00, the balance remaining shall be the fee. 4. If the overdraft facility is closed, no refund of the unused overdraft management fee is made. The monthly fee is charged on the anniversary of the overdraft facility establishment. 5. We charge you the MasterCard Exchange Commission for each foreign exchange currency transaction (including EFTPOS and ATM transactions). We also charge International Service Fees. We don t charge our own fee for foreign exchange transactions, but only pass on the fees we have to pay to our service providers for providing these services. 6. The card replacement service fee is for replacement cards only, not for planned reissues of cards. 7. A telephone banking facility service fee of $5.00 is charged on opening the facility, and every three months after that. If the facility is closed, no refund of the unused fee is made. 8. A TXT banking message fee includes both the text to us and the response generated. 9. Early repayment penalties may also apply. Important Small Business Banking Accounts are not eligible for the transaction fee exemptions outlined in the current Co-operative Bank Fees Brochure. Accordingly, where a member is exempt from paying transaction fees in respect of their accounts with The Co-operative Bank, this exemption will not extend to their Small Business Banking accounts. In addition, the balance of Small Business Banking accounts can not be used to qualify for transaction fee exemption. Want to know more or have any questions? Come and see us at your local branch, visit us at or call us on CB 803/01/15 5