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: 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.
1. Your account	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.
26. We will comply with industry codes of conduct	Amended the wording to clarify when the ePayments Code applies.
28. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
29. Payments in error	Inserted new section regarding payments made in error.
30. 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

Business Debit Cards Terms and Conditions

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.
15. Withdrawal Limits	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 Deposit 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

Import Payee, Biller, Direct Debit & Credit Information Service Terms and Conditions and General Information

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

Business Accounts and Payment Services Terms and Conditions No Longer for Sale

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. Corporate accounts 21. Statements	Added Statutory trust accounts (Corporate) products and reliance on account statements
1. Your account	Added information about identification requirements.
1. Your account	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.
26. We will comply with industry codes of conduct	Amended the wording to clarify when the ePayments Code applies.
28. When we may delay or refuse transactions	Amended wording for clarity in relation to our limitation of liability.
29. Payments in error	Inserted new section regarding payments made in error.
30. 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 and Payment Services

Visa Cheque Account

Visa Cheque Account and Payment Services Terms and Conditions and General Information

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

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.
Section E – Terms and Conditions that apply to Payment Services 34. Withdrawal limits	Updated section to clarify when daily cash withdrawal limits may not apply.

360 Term Deposit (no longer for sale)

360 Term Deposit (No longer for sale)

360 Term Deposit (No longer for sale) Terms and Conditions, Fees and Charges and General Information

Summary of changes, effective 27 October 2023

Section reference	Change description
Account combination Instructions we receive from your Adviser Access to financial records Combinations and set-off	Amended wording for clarity in relation to our limitation of liability.
Liability for loss as a result of a transaction not proceeding	Removed section ‘Liability for loss as a result of a transaction not proceeding’.
When we may delay or refuse transactions	Inserted section ‘When we may delay or refuse transactions’.
Payments in error	Inserted new section regarding payments made in error.