If you are using an Australian bank account, you may need to calculate the amount you’ll pay on a monthly or yearly basis.
Your bank can provide this information on their website.
For example, if you have a bank account with an AICAP of $1,000 you will pay $400 every month, or $600 every year.
If you have an AICAAP of up to $20,000, you will receive an annual charge of $10,000.
But how much do you actually pay?
For AICAs that are linked to your bank account and do not include fees for other charges, you’ll receive the amount that you’ve been charged by the bank.
For other AICAS linked to a particular account, the amount may be different.
To find out how much you’ll owe, you can use our calculator.
For more information on your AICA, check out our AICTA fee calculator.