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 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 |
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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’. |
Visa Debit Card, Freedom Card, Maestro® / Cirrus® ATM Card
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
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. |
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 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 |
|
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)
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. |
360 Term Deposit (No longer for sale)