Fee Exemptions
How to avoid transaction fees
You are exempt from all transaction fees1 if:
You maintain minimum monthly3 account balance levels of:
-
Current Account(s) $1,500; or Capital Note(s) $2,500; or Savings Account(s) $5,000; or Smile On Call Account(s) $5,000; or Term Deposit(s) and Bond Account(s) $10,000; or PIE Term Fund Account(s) $10,000; or Loan(s)2 $10,000 - Where the balance is held in one account or more of any account type3; or
You are 65 years of age or older
- The exemption is applicable the month after your 65th birthday; or
You have your New Zealand Superannuation or Veteran's Pension credited in full to an account of The Co-operative Bank; or
You are under 18 years of age
- If you are under 18 years of age you will not pay transaction or service fees at The Co-operative Bank. When you reach 18 years of age, you'll pay these fees in the month after your 18th birthday; or
You are a full time tertiary student
- If you are 18-years of age or older and studying full time at a recognised tertiary institution, undertaking a course with a minimum duration of one year.4
How to avoid service fees
Cheque Book Facility
- If you have a current account with a revolving credit facility you are exempt from this fee on that account.
- If you are 65 years or older and have your New Zealand Superannuation or Veteran's Pension direct credited to a current account you are exempt from this fee on that account.
Telephone Banking Facility
- If you have a current account with a revolving credit facility you are exempt from this fee on that account.
Notes
- Transaction fee exemptions apply to one or more account types associated with one customer/membership number.
- Excludes Creditline and Overdraft balances and limits.
- For this purpose, a month runs from the 26th day of a calendar month to the 25th day of the following calendar month.
- Customers eligible for a tertiary student transaction fee exemption must present their current student identification card to qualify. The customer's current student identification card must be presented at the beginning of each academic year to renew the exemption.
Interest rates and fees are subject to change. An Investment Statement and the current Disclosure Statement are available from any branch of The Co-operative Bank or can be downloaded here. For all lending products, The Co-operative Bank lending and insurance criteria, and fees apply. If a home loan is greater than 80% of the property's value, a low equity interest rate premium, will apply.
