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

Business Express Deposit Terms and Conditions

Business Express Deposit Terms and Conditions

Summary of changes, effective 25 November 2024

Section Reference Change Description
1. Introduction Clauses 1.1 to 1.3 – amended to explain that the T&Cs must be read together with account T&Cs, when a customer is bound to the T&C and that a copy of the T&C must be kept for future reference.
2. Eligibility Section 2 – explains eligibility criteria that must be met to use the BED service.
3. Ordering BED Bags Clauses 3.1 to 3.5 – explains the new BED bag ordering process, how to order BED Bags, and that account holders or their authorised representative must order BED bags in advance for delivery to its nominated address and that the account holder is responsible for the timely ordering of BED Bags.
4. Using a BED Bag Clauses 4.1 to 4.5 – explains how to populate BED Bags before lodging, into which account to make a deposit, the use of BEDs for legitimate business purposes and the ability to introduce daily limits.
5. Processing Delays Clauses 5.1 and 5.2 – explains that incorrect BED bag preparation, high volumes, or collection issues may cause delays in processing BED Bags, with processing to be done as soon as possible.
6. Fees and charges Clauses 6.1 to 6.3 – explains the fees associated with processing deposits made via BEDs and that further details can be found in product T&Cs.
7. Use of Security Service Provider Clauses 7.1 and 7.2 – explains that if the customer uses a Third-Party Security Service Provider for lodgements, they act independently, and St.George is not liable for their actions.
8. Lodgement of your deposits

Clause 8.1 – explains who can lodge a BED bag (other than the account holder).

Clause 8.2 – explains that St.George can change branches that accept BED Bags at its discretion.

Clause 8.3 – outlines the methods by which a BED Bag can be lodged and when the lodgement takes effect.
9. Processing your deposits

Clauses 9.1 to 9.4 – explains how BED Bag contents are counted, processed and recorded, the liability for any discrepancies identified and when discrepancy notifications will be sent.

Clauses 9.5 to 9.7 – explains processing turnaround times and when a lodgement will be treated as a standard over-the-counter deposit.
10. Third Party Cheques Clauses 10.1 and 10.2 – explains that for third-party cheques, proper endorsement and adherence to St.George guidelines is mandatory and that St.George may refuse the deposit or deduct the cheques value and return it if requirements are not met.
11. Our limited liability Clauses 11.1 to 11.9 – explains St.George’s limited liability regarding the BED service, including exclusions for direct, indirect, and consequential losses, as well as losses incurred before or after lodgement. Customers are responsible for risks related to third-party security providers and any unlawful activities.
12. Termination of Use Clauses 12.1 to 12.3 – outlines when St.George may exercise its discretion, with or without notice, to remove a customer’s access to BED Bags and/or terminate a customer’s use of the service.
13. Our responsibilities

Clause 13.1 – explains that where St.George is required to comply with court orders and laws, it may do so without notice.

Clause 13.2 – explains that St.George may delay or refuse transactions to meet its regulatory and compliance obligations or manage associated risk, request additional information, share customer data where permitted by law and protect itself from any regulatory breaches by the customer.
14. Banking Code of Practice Clauses 14.1 to 14.3 outlines St.George’s adherence to the Banking Code of Practice, including when the Code applies and where to obtain a copy.
15. Other Clauses 15.1 to 15.4 – explains that customers cannot draw on deposited funds until cleared, that customer rights are non-assignable, that fees and terms may change with notice and outlines that the BEDs service is governed by state/territory laws.
16. Privacy Statement Section 16 – outlines how St.George handles customer personal information and how a copy of St.George’s Privacy Statement can be obtained.
17. Feedback and Complaints Section 17 – explains how and when customers may provide feedback or complain and to who.
18. Definitions Section 18 – defined terms are listed and defined.
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 Deposit 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

360 Term Deposit (no longer for sale)

360 Term Deposit (No longer for sale)