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 18 March 2024

Section reference Change description

Part A: Fees and charges and how to minimise them

Corporate accounts: Everyday banking fees and charges table
  • Removed wording ‘Monthly fee-free collection items allowances do not apply to Business Cheque Accounts’.
  • Removed wording ‘Monthly fee-free collection items allowances do not apply to Call Deposit Accounts’.
  • Inserted ‘10’ for monthly fee-free collection items allowance for Business Cheque Accounts.
Mistaken Internet Payments Inserted a clause as to how we handle mistaken internet payments (MIP) in line with the ePayments Code (the code).

Definitions

Inserted a definition of ‘Mistaken internet payment’.
Business Banking Online and Payment Services
Business Debit Cards

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

Term Deposits Terms and Conditions

Term Deposits


Summary of changes, effective 18 March 2024

Section reference Change description

Summary of Account features and benefits: Term Deposit Accounts

Added monthly, half-annually, annually and at maturity as Interest Payment options under ‘Other features and benefits’ section of Table 1.

Opening an Account

A new clause has been included to explain customer identification requirements and the steps taken if identification requirements are not met.

Interest

Added a new clause to clarify that interest is paid on the account anniversary date.  If the anniversary date falls on a non-working day or day not available in a given month, interest will be paid on the preceding working day.

Who can close an Account

A new clause has been included to explain customer Account closure options as well as when we may initiate an Account closure.

Authority to operate

A new clause has been included to explain when an authorised signatories’ authority to operate a customer’s Account may be removed.
Changes to the terms and conditions Under Type of change, amended the description for a change to terms and conditions that reflect a change to our business or technological systems and processes.
Farm Management Deposits Terms and Conditions

Farm Management Deposits


Summary of changes, effective 18 March 2024

Section reference Change description

Opening and maintaining your Account

A new clause has been included to explain customer identification requirements and the steps taken if identification requirements are not met.

Withdrawals

A new clause has been included to explain customer Account closure options as well as when we may initiate an Account closure.
Opening and maintaining your Account A new clause has been included to explain when an authorised signatories’ authority to operate a customer’s Account may be removed
Changes to the Terms and Conditions Under Type of change, amended the description for a change to terms and conditions that reflect a change to our business or technological systems and processes.
BPAY Biller, Direct Debit and Credit Information Service

 

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 18 March 2024

Section reference Change description

Part A: Fees and charges and how to minimise them

Corporate accounts: Everyday banking fees and charges table 
  • Removed wording ‘Quarterly fee-free collection items allowances do not apply to Business Cheque Accounts (non-interest)’.
  • Inserted ‘10’ for Quarterly fee-free collection items allowance.
Mistaken Internet Payments Inserted a clause as to how we handle mistaken internet payments (MIP) in line with the ePayments Code (the code).

Definitions

Inserted a definition of ‘Mistaken internet payment’.
Term Deposit (no longer for sale)

Term Deposit (no longer for sale)


Summary of changes, effective 18 March 2024

Section reference Change description

Opening a Term Deposit

A new clause has been included to explain customer identification requirements and the steps taken if identification requirements are not met.

Who can close an Account

A new clause has been included to explain customer Account closure options as well as when we may initiate an Account closure.  

Authority to Operate

A new clause has been included to explain when an authorised signatories’ authority to operate a customer’s Account may be removed.
Changes to the Terms and Conditions Under Type of change, amended the description for a change to terms and conditions that reflect a change to our business or technological systems and processes.
Visa Cheque Account and Payment Services

Visa Cheque Account