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What is the member transaction allowance?

IMB’s Member Transaction Allowance (MTA) is a unique and rewarding component of IMB’s offer to our Members. Every IMB Member has the opportunity to earn a transaction allowance that rewards the length and breadth of your banking relationship with IMB. You use your monthly allowance to offset any transaction fees you may incur on accounts you own during the month (excluding the Everyday Unlimited and Everyday Unlimited Kick Start Accounts2).

How is the member transaction allowance calculated?

The MTA is calculated based on the number and type of products you hold with IMB, the value of those holdings and the time you have been an IMB Member. So, the longer you have been an IMB Member and the more accounts and loans you hold with IMB, the higher your monthly allowance is likely to be.

Use our Member Transaction Allowance Estimator.

What if I have more than one account?

Each IMB account you own contributes to increasing your MTA (excluding the Everyday Unlimited and Everyday Unlimited Kick Start Accounts2). The total amount of your MTA is applied to the account that incurs the highest transaction charge for that month. You also receive a monthly allowance on your second and third most expensive accounts.

Your MTA is applied to the accounts that you own1 as follows:

  • 100% MTA - applied to the account that incurs the highest transaction charge for that month
  • 50% MTA - applied to the account that incurs the second highest transaction charge for that month, and
  • 25% MTA - applied to the account that incurs the third highest transaction charge for that month.

So, if your total MTA for the month is $10, $10 will apply to the first account, $5 to the second and $2.50 to the third. Making a total of $17.50 in MTA for that month.

You will pay for all fees incurred on any additional accounts, with no allowance being applied. Individual members under 18 years of age receive a minimum $2 allowance. Any unused monthly allowance is forfeited and will not be applied to fees incurred on your accounts in any subsequent month.

Joint account holders

Where accounts are held in more than one name, all account holders will receive the benefit of the member allowance based on the balance of the joint account.

Important Information

1. Subject to the conditions above, we will only apply your member allowance against fees incurred on the accounts you ‘own '. For the purpose of applying the member allowance, the first named account holder of a joint account is deemed to be the 'owner' of the account

2. The Everyday Unlimited and Everyday Unlimited KickStart accounts are exempt from and do not count towards IMB’s Member Transaction Allowance. The IMB Member Transaction Allowance cannot be applied against any monthly fees or transaction fees incurred on these accounts.

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