Important changes for all our members
ATM Transaction Fee Changes
As announced in October, SCU will no longer be participating in the rediATM scheme.
The decision to no longer participate in the rediATM scheme led to the removal of ATMs from SCU premises. The process of removing ATMs from our Branches and Administration Centre at Blacktown has already been completed.
This has also resulted in us reviewing our transaction fees relating to ATM withdrawals. We are pleased to advise that the current fee of $1.75 for rediATM transactions will be reduced to $0.50 per transaction. This change will take effect on 1 January 2019.
Please note that there is no change to the structure of our additional free transactions. You will still receive the benefit of a minimum of 4 free transactions per month. Depending on your average membership value each month across all the products and services you have with us, you may be entitled to more than 4 free transactions per month. Please refer to our schedule of Fees & Charges available here.
You may be aware that the ATM direct charge to non-customers of the owning institution of an ATM have been eliminated by most big banks, which means that you can now withdraw cash from these ATMs and not incur an additional direct charge.
However, as a result of SCU withdrawing from the rediATM scheme, from the 1 January 2019 you may incur a direct charge for transactions completed on a rediATM. Previously you did not incur this charge.
When you transact on a rediATM after 1 January 2019, you will be advised the amount of the charge that will be incurred, should you proceed with the transaction. At that time you will have the option to terminate the transaction, and not incur the charge or continue with the transaction. Should you continue, the charge will be automatically debited to your account.
Remember that there are over 10,000 ATMs Australia wide, many of these owned by the major banks, where members can transact and not incur a direct charge.
Should you have any questions about this please call us on 13 61 91 or drop into your local SCU branch.
