Changes to the Schedule of Fees, Charges and Member Rewards effective 1^st February 2025

From 1 February 2025, we will update our Schedule of Fees, Charges, and Member Rewards to reflect changes to when international conversion fees may apply and remove charges relating to cheque drawing.

CMCU charges an International Transaction Fee of 3% (previously 2.75%) of the transaction value in AUD when you use your Visa Debit Card for a foreign currency transaction or when an Australian dollar transaction is processed outside Australia.

The changes aim to clarify that the fee will also apply where the merchant, financial institution, or entity processing the transaction is located overseas (even if in Australian currency and may include refunds and reversals). It will also apply to any instance where Visa considers it necessary to convert the transaction into Australian currency.

Sometimes, overseas merchants, financial institutions or intermediates allow you to pay for a transaction in Australian dollars or allow you to choose the currency for purchases; however, this is still classified as an international transaction because your transaction is processed overseas. This can apply whether the transaction is made in person, over the phone or online (including websites ending in .com.au) and displaying prices in Australian dollars. It may not always be clear when a transaction may be an international transaction. You should check with the merchant if you are unsure.

For more information, please go to www.cmcu.com.au/support/regulatory/disclosure-statements