Business customers' terms and conditions

 

Products currently for sale

Select below to find the current T&Cs and recent changes.

Business Accounts and Payment Services

Freedom Business Account, Business Cheque Account Plus, Business Access Saver, Business Cheque Account, Call Deposit Account, Statutory trust accounts, Society Cheque Account.


Summary of changes, effective 27 October 2023

Section reference Change description

Part A. Fees and charges and how to minimise them

Removed references to Smart ATM, specific brands and types of deposits.

Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: 

  • What you can do at an ATM 
  • Limits or restrictions that apply 
  • Fees that may be charged 

Removed references to ‘ATM mini transaction history’.

Customers can refer to the relevant brand’s website for additional information. 
Part A. More about fees and charges that may apply to your account. Reduced the Overseas Telegraphic Transfer (outward) fee from $10.00 to $0.00 (including overseas bank charges) per transfer in foreign currency.
Added information about how to request application of interest, fees, and charges to and from other eligible accounts.

Part A. Business accounts: Features

Removed terms related to Statutory trust accounts (Corporate) - no longer for sale account.

1. Your account

 Added information about identification requirements.
Amended wording for clarity in relation to our limitation of liability.

8. Deposits and withdrawals

Removed references to Smart ATM, specific brands and types of deposits.

Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: 

  • What you can do at an ATM 
  • Limits or restrictions that apply 
  • Fees that may be charged 

Removed references to ‘ATM mini transaction history’.

Customers can refer to the relevant brand’s website for additional information. 
Amended the wording for clarity in relation to our limitation of liability, and accuracy of processes and procedures.
Added wording to clarify the liability for authorised transactions as opposed to unauthorised transactions.
22. We can make changes to these terms and conditions Updated information on when and how the bank will notify customers of changes to terms and conditions.

23. Restricting, suspending or closing your account

Amended the section heading from ‘Restricting, suspending or closing your accounts’ to ‘Closing your account’ and amending the wording for clarity around closing your account.

24. Account combination and set-off

Updated the wording for clarity and accuracy of processes and procedures of account set off and account combination.

27. We will comply with industry codes of conduct

Amended the wording to clarify when the ePayments Code applies.

29. When we may delay or refuse transactions

Amended wording for clarity in relation to our limitation of liability.

30. Payments in error

Inserted new section regarding payments made in error.

31. Definitions

Updated section to reflect simplification of references to ATM-related terms.
Business Banking Online and Payment Services
Business Debit Cards

Visa Debit Card, Freedom Card, Maestro® / Cirrus® ATM Card


Summary of changes, effective 27 October 2023

Section reference Change description

1. Important Words

Updated section to reflect simplification of references to ATM-related terms.

3. Changes to the Terms and Conditions

16. Fees and Charges

Amended wording for clarity in relation to fees and charges, and accuracy for processes and procedures.

5. Issue of a Card

8. Additional Cardholders

9. Cancelling, returning or stopping a Card

16. Fees and Charges

New section 20. Payments made in error

 Amended the wording for clarity and accuracy for processes and procedures.

13. Liability for unauthorised transactions

Added wording to clarify the liability for authorised transactions as opposed to unauthorised transactions.

15. Withdrawal Limits

 Explained how cash may be withdrawn at an ATM and circumstances relating to minimum withdrawal restrictions.
Updated section to clarify when daily cash withdrawal limits may not apply.

19. Trade Practices

Deleted section.
Term Deposits Terms and Conditions

Term Deposits


Summary of changes, effective 27 October 2023

Section reference Change description

Part A 1.2 Opening an account

Included wording for clarity around initial funding period

Part A 1.14 Authority to Operate

Amended the wording for clarity on the limitation of liability

Part B Anti-Money Laundering and Counter-Terrorism Financing Obligations

Amended section heading from ‘Anti-Money Laundering and Counter-Terrorism financing obligations’ to ‘When we may delay or refuse transactions’ and amended wording for clarity around when may delay or refuse transactions 

Part B When we may delay or refuse transactions

Amended wording for clarity in relation to our limitation of liability

Part B Payments in error

Inserted new section regarding payments made in error
Farm Management Deposits Terms and Conditions

Farm Management Deposits


Summary of changes, effective 27 October 2023

Section reference Change description

Appropriate use of our services

Amended section heading from ‘Appropriate use of our services’ to ‘When we may delay or refuse transactions’ and amended wording for clarity around when may delay or refuse transactions 

Payments in error

Inserted new section regarding payments made in error
BPAY Biller, Direct Debit and Credit Information Service


Summary of changes, effective 8 November 2023

Section reference Change description

Our provision of the Service

Amended the wording for clarity on how we service you as an independent service provider.

Our liability is limited

Amended the wording for clarity on our liability in relation to using these services.

 

Products no longer for sale

Select below to find the current T&Cs and recent changes.

Bank Accounts and Payment Services

Commercial Line of Credit, Business Umbrella Investment Loan Account, Business Maximiser Account, Personal Cheque Account, Statement Savings Account, Executive Housing Interest Saver Account, Business Cheque Account (non-interest), Cash Management Account.


Summary of changes, effective 27 October 2023

Section reference Change description

Part A. Fees and charges and how to minimise them

Removed references to Smart ATM, specific brands and types of deposits.

 

Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: 

  • What you can do at an ATM 
  • Limits or restrictions that apply 
  • Fees that may be charged 

Removed references to ‘ATM mini transaction history’.

 

Customers can refer to the relevant brand’s website for additional information. 
Part A. More about fees and charges that may apply to your account. Reduced the Overseas Telegraphic Transfer (outward) fee from $10.00 to $0.00 (including overseas bank charges) per transfer in foreign currency.
Added information about how to request application of interest, fees, and charges to and from other eligible accounts.

1. Your account

 Added information about identification requirements.
Amended wording for clarity in relation to our limitation of liability.

8. Deposits and withdrawals

Removed references to Smart ATM, specific brands and types of deposits.

Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: 

  • What you can do at an ATM 
  • Limits or restrictions that apply 
  • Fees that may be charged 

Removed references to ‘ATM mini transaction history’.

Customers can refer to the relevant brand’s website for additional information. 
Amended the wording for clarity in relation to our limitation of liability, and accuracy of processes and procedures.
Added wording to clarify the liability for authorised transactions as opposed to unauthorised transactions.

Part A. Corporate accounts

21. Statements

Added Statutory trust accounts (Corporate) products and reliance on account statements
22. We can make changes to these terms and conditions Updated information on when and how the bank will notify customers of changes to terms and conditions.

23. Restricting, suspending or closing your account

Amended the section heading from ‘Restricting, suspending or closing your accounts’ to ‘Closing your account’ and amending the wording for clarity around closing your account.

24. Account combination and set-off

Updated the wording for clarity and accuracy of processes and procedures of account set off and account combination.

27. We will comply with industry codes of conduct

Amended the wording to clarify when the ePayments Code applies.

29. When we may delay or refuse transactions

Amended wording for clarity in relation to our limitation of liability.

30. Payments in error

Inserted new section regarding payments made in error.
31. Definitions

Updated section to reflect simplification of references to ATM-related terms.
Term Deposit (no longer for sale)

Term Deposit (no longer for sale)


Summary of changes, effective 27 October 2023

Section reference Change description

Authority to Operate

When we may delay or refuse transactions

Amended the wording for clarity on the limitation of liability

Anti-Money Laundering and Counter-Terrorism Financing Obligations

Amended section heading from ‘Anti-Money Laundering and Counter-Terrorism financing obligations’ to ‘When we may delay or refuse transactions’ and amended wording for clarity around when may delay or refuse transactions 

Payments in error

Inserted new section regarding payments made in error

Section C – Specific Terms and Conditions that apply to Term Deposits.

Added information about identification requirements
Visa Cheque Account and Payment Services

Visa Cheque Account


Summary of changes, effective 8 November 2023

Section reference Change description

Changes to the Terms and Conditions

Amended the wording for clarity on the terms and conditions and how we may notify you of changes

When we may delay or refuse transactions and Australian Government’s Financial Claims Scheme and Payments made in error

Inserted new clause regarding payments made in error

Opening the Account

Added information about identification requirements

Account combination and set-off

Updated the wording for clarity and accuracy of processes and procedures of account set-off and account combination

Terms and Conditions of our Cards

Amended the wording for clarity and accuracy for instructions, processes and procedures

How to start using Internet and Phone Banking

Amended the wording for clarity on access to Internet and Phone Banking
Withdrawal Limits Updated section to clarify when daily cash withdrawal limits may not apply


Summary of changes, effective 27 October 2023

Section reference Change description
1. Important Words

Updated section to reflect simplification of references to ATM-related terms.
35. Using a Card to obtain cash.

Explained how cash may be withdrawn at an ATM and circumstances relating to minimum withdrawal restrictions.

25. Deposits. 

Section B – Visa Cheque Account fees and charges and how to minimise them. 

Removed references to Smart ATM, specific brands and types of deposits. 

Existing ATM information has been consolidated into one centralised table under a section titled ‘ATMs’, which covers: 

  • What you can do at an ATM 
  • Limits or restrictions that apply 
  • Fees that may be charged 

Removed references to ‘ATM mini transaction history’. Customers can refer to the relevant brand’s website for additional information.