Business customers' terms and conditions
Products currently for sale
Select below to find the current T&Cs and recent changes.
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:
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:
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. |
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
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
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 |
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.
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:
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:
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)
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
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:
Removed references to ‘ATM mini transaction history’. Customers can refer to the relevant brand’s website for additional information. |