Australia Post introduce transaction fee

May 12, 2017

Macquarie Bank has just advised that a payment processing fee of $2.75 will be charged to customers making levy payments at Australia Post.

 

This payment processing fee comes as a result of Australia Post charging a processing fee to the bank for receiving client payments on behalf of the Macquarie DEFT payment system.

 

We understand that this will be frustrating for some of our clients will be inconvenienced by the introduction of this charge and advise that other payment methods are available, as noted on the bottom of each invoice which includes cheque and BPay payments as alternatives.  

We work with Macquarie Bank to collect and hold funds for the bodies corporate entrusted to our care as they have a wide range of payment methods available which helps all of our clients, whether owner occupiers or investors living anywhere around the world to make payment to their corporation.

 

At Strata Management SA we actively work with the bank to keep their charges to a minimum and these processing fees (just like those which are charged to process credit card payments) will be charged to the individual making the payment rather than to the body corporate or to other owners in the unit group who make use of a cheaper payment method.

 

The average cost of bank fees charged to the body corporate for a group of 8 units that we are working with is under $5 per annum (far lower than I’ve seen anywhere else in my 15 years working with Strata and Community Titles) which is why we proudly continue our association with the DEFT Payment System offered by Macquarie.

 

We are sorry for the inconvenience to those affected and are happy for you to select whichever payment method you finds suits your needs best.  If you have any queries please contact your Body Corporate Manager.

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