AAP FACTCHECK – Misleading claims are circulating on social media that Bendigo Bank will charge customers a $2.50 fee for every cash withdrawal they make.
The posts fail to mention the fee only applies to withdrawals made over the counter with a cashier. Bendigo Bank ATM debit account withdrawals remain free of charge.
Also, concession card holders are exempt from the over-the-counter withdrawal fee.
The $2.50 fee became the subject of discussion on social media in late October, with some Facebook users saying they confirmed the change with Bendigo Bank staff.
But some of the posts wrongly suggested the fee applied to all withdrawals.
“I’ve just confirmed with my local Bendigo Bank that every time you withdraw cash you will pay an extra $2.50 on your own money,” one October 30 Facebook post said.
A Bendigo Bank spokesman confirmed to AAP FactCheck that from November 1, 2024, customers would be charged $2.50 if they withdrew their money over the counter.
But the bank’s updated schedule of charges shows this new fee doesn’t apply to ATM withdrawals (page 10).
The spokesman said the in-branch withdrawal charge was introduced alongside other changes that removed the $6 monthly service fee for the bank’s “Everyday” accounts and reduced fees for transactions conducted at the Post Office.
“Importantly, these changes will generally result in a net reduction in fees paid by our customers. In recognising that some customers may incur an increase in fees, our team members are standing by to help with alternative options, and we encourage those customers to speak with us,” the spokesman said.
“Concession card holders may continue to make withdrawals, deposits and balance enquiries free of charge at our branches or Bank@Post as normal.”
The schedule of charges states the $2.50 fee applies to staff-assisted withdrawals by Everyday, Easy Retirement and Student account holders, charged at the time of the transaction (page 10).
The document also states concession customers have “unlimited” access to over-the-counter cash withdrawals.
Some other Australian banks also charge personal banking customers a fee for over-the-counter withdrawals.
For example, Commonwealth Bank charges a $3 fee for “assisted withdrawals” in-branch or by telephone banking for some everyday accounts.
The Verdict
Misleading – The claim is accurate in parts but information has also been presented incorrectly, out of context or omitted.
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