Changes to Account & Access Facility Conditions of Use
Published 28 October 2023
Changes have been made to our Account & Access Facility Conditions of Use. These changes are effective from 31 October 2023 and include updates covering:
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new amendments under the Customer Owned Banking Code of Practice 2023.
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additional terms and conditions for members accessing our PayTo service
Our latest Account & Access Facility Conditions of Use can be found here. If you would like to discuss any of these changes, please contact us on 8:00 am to 7:00 pm AEST, Monday to Friday.
| Subheading of document | Summary of changes |
|---|---|
| Proof of Identity required | List of identification documents removed and amended to read ‘government issued photo identity document such as driver’s licence or passport. |
| Joint Accounts | Amended to explain in greater detail what access and transaction authority is given to joint account holders. |
| Third Party Access | Amended to clarify the extent of an account signatory’s authority to act on the account. |
| Account Statements | Amended to clarify the methods of how account statements may be provided. |
| Closing Accounts, Cancelling Access Facilities & Blocking access, or transactions | Amended to clarify the Bank’s level of authority to cancel, block or limit access to customer accounts. |
| How we send Notices or Statements | Amended to clarify the methods of how account statements & notices may be provided. |
| Chequing | Section has been omitted in its entirety as facility no longer available. |
| PayPal | Section has been omitted in its entirety. |
|
Important Information About Protecting Your Access Cards, Devices and Pass Codes |
Amended to reflect minimum passcode and Security Requirements. |
| Visa Card | Information re chargebacks amended to reflect both the Bank and the Customers obligations in relation to chargebacks. |
| Digital Wallet | Section has been omitted in its entirety and adopted in new section 28 of the document. |
| Authority to Recover Mistaken or Misdirected Payments | Amended to clarify the difference between a mistaken and misdirected payment. |
| Complaints | Amended to clarify how customer complaints are handled. |
| Use After Cancellation or Expiry of Access Card | Amended to clarify that recurring transactions will be declined if the card has expired. |
| Withdrawing or Transferring from The Account, Overdrawing an Account Transactions, Cancellation of Access Card or of Access to Telephone and/or internet Banking | Updated to include PayTo. |
| Direct Debit | Updated to clarify that this section does not extend to PayTo. |
| Definitions |
Updated to include:
• BECS procedures
• Direct Debit
• Mandate Management Services
• Migrated DDR Mandates
• NPP
• NPP Payments
• Payment Agreement
• Payment Initiator
• PayTo
• Transfer ID
|
| Creating a PayTo Payment Agreement, Amending a Payment Agreement, Pausing your Payment Agreement, Transferring your Payment Agreement, Cancelling your Payment Agreement, Migration of Direct Debit Arrangements, General PayTo provisions, Privacy and PayTo, Authority for PayTo | New sections |
