As with most things in life and accessing your money, you may encounter some fees when using your debit card, depending on the type of card, the merchant and the transaction.

According to the Reserve Bank of Australia (RBA), the cost of processing a debit card transaction is usually quite low. Accepting a Visa or Mastercard debit transaction will typically cost a business around 0.5% of the transaction value. However, some businesses may charge you a surcharge for using your debit card, which can be higher than the actual cost of processing. The RBA has set rules to limit excessive surcharging, but you should always check before paying with your debit card if there is a surcharge and how much it is. If it’s over the RBA’s limit, you could think about lodging a complaint.

Another annoying fee you’ll face is an ATM fee. The ATM operator charges you this fee for withdrawing cash from their machine. Most banks in Australia offer free ATM withdrawals from their own network of ATMs. But, as bank branches dwindle, you may need to use an ATM from another bank or provider. You’ll mostly be charged a fee of around $2 to $3 per withdrawal. You can avoid this fee by planning ahead and using your own bank’s ATMs, or by choosing a debit card that offers free ATM withdrawals from any network.

If you use your debit card when travelling, or for online purchases from international merchants, you may also get slugged foreign transaction fees. These are fees charged by your bank or card provider for converting your Australian dollars into another currency. Foreign transaction fees can vary depending on the card and the currency, but they are usually around 2% to 3% of the transaction value. Some debit cards offer no foreign transaction fees, which can save you money!

You should be aware of the potential fees that may apply when using your debit card, and compare different cards to find one that suits your needs and budget. Here’s some more of our guides around fees (and how to avoid some)