MyGuarantee pricing: $0 for applicants

MyGuarantee pricing: $0 for applicants

MyGuarantee takes a different approach. For applicants, the fee is currently $0. There are no onboarding, application, or recurring fees. No hidden surcharges. No paper handling charges. No surprise costs post-approval.

Issuance is same day, without paperwork. The platform distributes digital guarantees on behalf of AMP Bank. Workflow is end-to-end online, with bank-grade encryption and role-based access. That combination makes bank guarantee fees one less thing to worry about.

Flexibility that reduces lifetime cost

Paper guarantees are rigid. When milestones are met, you often replace the document. That can incur new fees and delays. With MyGuarantee, you can reduce the value as obligations are met. The updated instrument is distributed digitally, saving time and cost.

This flexibility particularly helps commercial landlords, construction firms, equipment lessors, government contractors, and SMEs. For large corporates managing many instruments, centralised visibility and amendment control reduce administrative overheads and risk.

Transparency, security, and compliance built in

Track every action with real-time status and instant notifications. Audit-ready logs support governance and tender requirements. Bank-grade encryption and role-based permissions reduce fraud exposure. The paperless process is sustainable and eliminates branch visits and manual handling.

Because MyGuarantee distributes on behalf of AMP Bank, counterparties receive a bank-issued instrument they know and trust. The result is faster acceptance and fewer administrative queries, especially on complex projects and longer terms.

How to compare providers

When evaluating options, ask:

• What establishment and ongoing percentage rates apply?
• Are amendments and reductions charged?
• Is there a per-document paper or courier fee?
• How quickly can issuance occur?
• What are the security requirements and expiry rules?
• What digital controls and audit trails are available?

You can also review independent sources. Many customers now search for digital bank guarantee reviews when shortlisting providers and validating service claims.

Getting started

Set up your organisation in minutes. Complete the streamlined application digitally. Submit supporting information once. Leverage real-time status and notifications across stakeholders. No branches. No paper. No surprises.

If you need a quick turnaround for a tender or lease, MyGuarantee’s process supports genuine urgency. The platform is designed to deliver an instant bank guarantee online experience without compromising compliance or controls.

Common information requests

Some procurement teams ask for guidance on bank guarantee requirements Australia when validating counterparty acceptance. Others want assurance that digital bank guarantees Australia are suitable for public and private sector projects. MyGuarantee supports both, with clear documentation and audit logs.

If your team prefers templates, you won’t need a digital bank guarantee form download to get started—everything is handled securely in-platform. You can still export records for your files whenever required.

For urgent needs, you can progress a digital bank guarantee online through our guided workflow. And because MyGuarantee operates with a digital bank guarantee no application fee , budgets remain intact while approvals move forward.

Common Questions Regarding Bank Guarantee Fees

Do bank guarantees have fees?

Yes. Most banks charge several line items. You’ll typically see an establishment fee. You’ll also see an ongoing service or line fee. These can be percentage based. They usually scale with the guarantee amount and risk profile.

Some banks add handling or paper issuance costs. Others charge for each amendment or replacement. Longer terms can also mean higher costs. Together, these bank guarantee fees can materially increase your total project outlay.

What is the fee for a bank guarantee?

There isn’t a single number. Each bank sets its own schedule. Establishment fees are commonly flat or tiered. Ongoing fees are usually a percentage of the outstanding guarantee value. Payment frequency may be monthly, quarterly, or annually.

Security type matters. Cash-secured guarantees can price differently to asset-secured facilities. The requested expiry date also influences the rate. In short, bank guarantee fees vary by institution, amount, security, and duration.

Are bank guarantee fees tax deductible ATO?

General guidance only: if a business incurs fees wholly to produce assessable income, those costs may be deductible. Many ongoing charges are treated as operating expenses. Some establishment costs may be capital in nature.

Always seek professional tax advice. Check current ATO guidance for your circumstances. If you use MyGuarantee, there are no applicant fees to claim. That simplifies accounting and cash flow planning while avoiding unnecessary bank guarantee fees altogether.

What are common bank guarantee charges?

Traditional fee schedules typically include:

• Establishment fee to set up the facility or instrument.
• Ongoing service or line fee, usually a percentage of the guaranteed amount.
• Amendment or replacement fees when details change.
• Paper issuance and courier costs for physical documents.

MyGuarantee’s digital process eliminates most triggers for these charges. Real-time amendments reduce re-issuance. Digital delivery removes courier costs. Applicants pay $0 to use the service.

Why choose MyGuarantee now

• It’s free for applicants: $0 fees.
• Same-day issuance, no paperwork.
• Digital distribution on behalf of AMP Bank.
• Real-time amendments and transparency.
• Bank-grade security and role-based access.
• Paperless, sustainable, and audit-ready.

Ready to move past unpredictable bank guarantee fees? Book a short demo to see how MyGuarantee removes cost, complexity, and delay—so you can issue, amend, and complete guarantees with certainty, minus the bank guarantee fees.

Book a demo today!