We're updating our Account And Access Facility Conditions Of Use today, 1 November 2022, introducing amendments for PayTo and enhancements for the newly amended Customer Owned Banking Code of Practice (COBCOP) that was introduced on 31 October 2022.

For your convenience, we have listed the most notable changes to the Account And Access Facility Conditions Of Use:

Joint Accounts

Irrespective of the joint account operating instructions, any one joint holder can instruct us to:

  • change the account operation to joint operation by all joint holders only; or
  • suspend the account to allow the joint holders time to reach agreement about dispersal of the account funds, in which case these instructions will remain in effect until all joint holders agree otherwise

All joint account holders will need to provide instructions to:

  • Close the account
  • Appoint a third-party signatory to the account

Account Statements

We may charge you a fee for providing paper statements.

Notifying Changes

We may send you notification through direct communication (including by electronic means).

Cheque Security

A new section showing how you may write a cheque to reduce the risk of it being changed in unauthorised ways.

Chargebacks for VISA Card

We have included enhanced information about timeframes, your notification requirements and how you may seek a chargeback.


Introduction of our new payment facility PayTo and its conditions of use.

Digital Wallets

Enhanced information for members on how to protect your security while using this facility.

Customer Owned Banking Code of Practice

Updated details of the Customer Owned Banking Code Compliance Committee.

While we've highlighted the changes that we think are the most relevant to our members, we recommend you review the full document here.

01 November 2022