How to calculate credit card repayment & other FAQs

Flexible and easy ways to pay off your credit card balance, including online, in person or even setting up an Autopay automatic payment plan.

What is the minimum repayment I must make?

Each month you must make the minimum monthly repayment by the due date shown on your Bank of Melbourne credit card statement.

The minimum repayment on your credit card is whichever is greater of:

1. 2% of your total balance, or
2. $10, or
3. The amount of outstanding government and interest charges.

If the outstanding closing balance is less than $10, you must pay it in full.
If your balance is zero or if your account is in credit, you do not need to make any repayments.
What happens if I miss a payment or go over my credit limit?
- If you miss or make a late payment, you will be charged a Missed Payment Fee
- If your credit card account was opened before 4 June 2012, and you exceed your credit card limit, you may be charged an Overlimit Fee. These fees are outlined in the Credit Card Accounts Fees and Charges document.
In order to avoid Missed Payment Fees, you may choose to set up an Autopay automatic payment arrangement, or a direct debit from your nominated Australian bank account to your credit card, to ensure you always meet your minimum repayments on time each month.

You can also consider using SMS and Email Alerts to inform you when you are close to your credit limit. SMS Alerts are charged at $0.25 per SMS. Email alerts are free. Both can be set up through Internet Banking.
Can I make additional repayments?

How do I make repayments?

It is easy to make repayments to your credit card in a number of ways:
Internet Banking	Transfer funds from any Bank of Melbourne account or from any Australian Bank. Register for Internet Banking online or by calling 13 22 66.
Phone Banking	Call 13 22 66 to register for Phone Banking and to make your payment from another account. Internet Banking users are automatically registered for Phone Banking.
BPAY^®	Use BPAY to make this payment from your cheque, savings, debit or transaction account. The Bank of Melbourne BPAY^® biller code is 22863 and enter your Customer Reference Number (CRN).
Autopay	Set up an Autopay automatic payment arrangement to your credit card by logging onto Internet or Mobile Banking. Alternatively you can download the Automatic Payment Plan form to set up this service, or call us on 13 22 66.
At any Bank of Melbourne branch	Find your nearest branch.
By post	Complete all payment details on the bottom portion of your statement. Detach that portion and along with your (Australian) cheque made payable to Bank of Melbourne and post to Group Card Services IBN 79, 1 King St, Concord West, NSW 2138. Please don’t send cash through the mail.

What is Autopay?

Setting up an Automatic Payment Plan is a simple way to ensure you meet your credit card repayment by the due date on time each month. You can arrange to have a payment made automatically to your credit card from any statement based account you nominate with any Australian bank. With an automatic payment plan you can avoid missing your minimum monthly payment and being charged a Missed Payment Fee.

What are the Autopay options?

Choose from two payment plans.
Full monthly payment	Pay the full amount of your Monthly Payment Balance¹. Choose this option if you are confident there will be sufficient funds in your nominated account each month to cover your full credit card balance. This would give you peace of mind that your payment will be made each month, and help you maintain interest free days where applicable*.
Minimum monthly payment	Choose this option to automatically pay the Minimum Payment Due. This leaves you with flexibility to make additional payments at a later time.

How do I set up an Autopay automatic payment plan?
What should I do if I am having trouble meeting my repayments?

Bank of Melbourne Assist is a team of specialists who will take the time to understand your situation, and provide you with personal assistance and information to discuss ways to help you control and manage your Bank of Melbourne loans and accounts repayments.

If you are facing financial hardship in relation to your Bank of Melbourne accounts, please contact us on 1800 629 795, Monday to Friday 8am to 5pm (EST).

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The Detail

*Subject to the Bank of Melbourne Credit Card Terms and Conditions.

1. If you have a Balance Transfer, the amount shown on your statement as Monthly Payment Balance will be paid. The Monthly Payment Balance is calculated as the main account balance minus the balance transfer amount plus any Plan&Pay instalments for the month. If you do not have any Plan&Pay instalments or a balance transfer, the Monthly Payment Balance will be the same as the Closing Balance.

Please refer to the relevant payment method pages for cut-off time.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help, call 13 22 66.

BPAY View^®and BPAY^® registered to BPAY Pty Ltd ABN 69 079 137 518

Credit Cards

Credit card repayments

It is easy to make repayments to your credit card in a number of ways:

Choose from two payment plans.

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