Effective 30 June 2025, changes will be made to the Account and Access Facility Conditions of Use under the "Account Operations" section.
1. Section 1: Information about your ePayment facilities
The paragraph under "Important Information about Chargebacks for VISA Card" will be updated.
The current wording:
“If you wish to dispute a Visa Card transaction you should notify us as soon as possible.”
will be revised to:
“If you wish to dispute a Visa Card transaction you should notify us as soon as possible but within 120 days.”
2. A new section titled "Confirmation of Payee" will be added. Information added under this new heading:
Confirmation of Payee service
1.1 Confirmation of Payee is a service that applies when sending money to an account using BSB and account number. It is designed to help payers avoid scams or mistaken payments.
1.2 The Confirmation of Payee service matches the account details entered (which must also include an account name) with the account details held by the recipient’s financial institution and displays the outcome, which could be a match, a close match or a no match.
1.3 If the intended recipient is a business or other organisation, or the outcome is a match or close match, then the account name will be displayed to the payer.
Conducting a Confirmation of Payee lookup
1.4 When making a payment from your account using BSB and account number it is the user’s responsibility to ensure they provide the correct BSB and account number.
1.5 The Confirmation of Payee service will provide the user with a match, a close match or a no match outcome. If the user thinks the account details were entered incorrectly, they can check them again before making the payment. If something does not seem right, the user should check the account details with the intended recipient before proceeding, or choose not to proceed with the payment.
1.6 You must not use, and must ensure any other user does not use, the Confirmation of Payee service other than for its intended purpose, or in breach of these Conditions of Use. We may limit or suspend use of the Confirmation of Payee service from your account if we believe it reasonably necessary to protect you, us or a third party from possible fraudulent activity, scams or other activity that may cause loss or damage.
1.7 We are not responsible for the accuracy of the recipient’s account details provided to us from the recipient’s financial institution.
Use and disclosure of your account details
1.8 You authorise, and provide consent to:
(a) us to use, store and disclose your account details in the Confirmation of Payee service; and
(b) payers’ financial institutions to use and disclose your account details for the purposes of the Confirmation of Payee service and prior to making payments to you.
1.9 In special circumstances we may allow you to opt-out of the Confirmation of Payee service. Please contact us on 13 61 91.
1.10 However, even if you do opt-out of the service, we will still confirm, disclose, store and use your account details through the Confirmation of Payee service for use by government agencies for the purposes of making a payment to you.
1.11 In some circumstances you may provide alternative names to be recorded on your account for use in the Confirmation of Payee service. Please contact us on 13 61 91.
3. Section 14: International transaction fees
Information added to this section:
"You agree to reimburse us for any costs, fees or charges of any nature arising out of a failure to comply with any exchange control requirements or tax laws"
While we’ve highlighted the changes that we think are the most relevant to our members, we recommend you review the full document here.
