Savings Accounts & Account Access Channels Terms & Conditions

Effective from 30 November 2024

This document should be read in conjunction with the Fees and Charges and the Interest Rate Schedule applicable to the account. Together they form your Terms & Conditions.

The Terms & Conditions relates to BCU Bank savings accounts, transaction accounts (including Business Savings accounts and transaction accounts) and associated Non-Cash Payment Services.

Financial Claims Scheme

BCU Bank is a division of Police & Nurses Limited. Police & Nurses Limited is an authorised deposit taking institution (ADI) regulated to the same high standards as the major banks by such government agencies as APRA, ASIC, AUSTRAC and the ACCC.

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks. Building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any ADI that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA). For more information regarding the Scheme, see the Financial Claims Scheme website at http://www.fcs.gov.au

General Terms & Conditions

1. Application of these Terms & Conditions
2. Account Operations
3. Joint Accounts
4. Privacy
5. Customer Owned Banking Code of Practice
6. ePayments Code
7. Statements
8. Dispute Resolution
9. Withholding Tax
10. Changes to Terms & Conditions
11. Interest
12. Fees and Charges
13. Right of Set Off
14. Overdrawn Accounts
15. Continuing Credit Facility
16. Closure of Accounts
17. Financial Abuse

Special Conditions of Savings Accounts

18. Maximum Balance Limit
19. Scoot Super Saver Account
20. BCU iSaver
21. Advantage Saver
22. Offset Account
23. Business Offset Account
24. Business iSaver
25. Real Estate Trust Account & Real Estate Statutory Interest Account
26. Concession Account
27. BCU Access Account
28. Boss Saver Account
29. Bonus Saver Account
30. BCU Dreamsaver Account
31. Christmas Club Account
32. SMSF Cash iSaver
33. Community Saver Account

Account Access Terms & Conditions

34. Card Access
35. Direct Entry
36. Bank@Post™
37. Bank Cheques
38. Counter Transactions
39. Access to Online Banking Services
40. BPAY Terms & Conditions
41. Osko Payments
42. Pay To Services

Our Responsibilities

43. What to do if the Security of your Access Method has been Compromised or there is an Unauthorised Transaction
44. Financial Difficulty
45. Miscellaneous

® Registered to BPAY Pty Ltd ABN 69 079 137 518

Definitions

Account Access Channel means the mechanism used when making withdrawals, transfers or credits to your accounts.

Access Method means a method authorised by us for your use to make an electronic transaction including a card (physical or digital), access code, security token, member number, account number, card number, expiry date, PIN and password but does not include a method which requires your manual signature.

Account/s means any account which we agree you may access for the purpose of effecting BPAY payments, and electronic transactions through our Online Banking Services.

Available Balance means any funds lodged in your account, and unused line of credit or other agreed credit facility made available for this account. The available balance does not include deposits received but uncleared in accordance with our policy, nor does it include  interest accrued but not credited, nor deposits in transit. 

Banking Business Day means any day we are open for business and in respect to BPAY and Osko means any day on which banks in Melbourne or Sydney are able to effect settlement through the Reserve Bank of Australia.

BCU Bank App means a mobile phone banking service that allows you to access certain information about your Account(s) and perform a range of transactions through a software application installed on your mobile phone or other device. The software application can be downloaded through the APP Store (for Apple devices or Google Play for Android devices).

BECS means the Bulk Electronic Clearing System which is an electronic debit and credit payment instruction processing system, operated in cooperation between Australian financial institutions, for payments such as Internet Banking transactions and direct debits (payments collected from members’ bank accounts) and direct credits (payments sent to members’ bank accounts) instructions.

Biller means an organisation who notifies you that you can make bill payments to them through BPAY.

BPAY means the electronic payment scheme called BPAY, operated in cooperation between Australian financial institutions, which enables you to effect bill payments to Billers via internet access, and to effect Osko Payments. 

BPAY Payment means a payment transferred using BPAY.

BPAY Pty Ltd means BPAY Pty Limited ABN 69 079 137 518 PO Box 1083, North Sydney NSW 2059, Telephone (02) 9922 3511.

BSB means the name of the Bank, State and Branch of an Australian bank.

CUSCAL means Credit Union Services Corporation Australia Limited.

Cut Off Time means the time, as we advise you from time to time, by which your payment instructions must be received by us in order for these instructions to be processed.

Direct Debit means a recurring automated payment transaction that transfers money from your Account to another person’s/businesses bank account, typically on a pre-set regular date.

Eligible Savings account means a BCU Bank savings account specified as such by us from time to time including, at the date of these Terms & Conditions, an iSaver, Bonus Saver or Dream Saver account. 

Mandated Management Service means the central, secure database operated by NPPAL of Payment Agreements.

Mandated Payment Service means the service which enables us to process Pay To payments from your Account in accordance with and on the terms set out in the Payment Agreement which you have established with a Merchant or Payment Initiator that subscribes to the Mandated Management Service.

Merchant means a merchant with who you establish, or would like to establish, a Payment Agreement and who is approved by NPPAL. 

Migrated DDR Mandate has the meaning given to that term in paragraph 41.5(a).

Misdirected Payment means an Osko Payment made by a sender to one or more bank accounts where the funds are paid into the account of an unintended recipient because the recipient’s financial institution has made an error in recording PayID information.

Mistaken Payment means a payment made by a sender to one or more bank accounts where funds are paid into the account of an unintended recipient because the sender has entered or selected a BSB number, PayID or any other identifier (such as an account number) that does not belong to the named and/or intended recipient (including as a result of the sender’s error, or the sender being advised of the wrong BSB number and/or identifier).

Non-Cash Payment Service means any account access channel that facilitates the transfer of funds to or from your account that does not involve the physical transfer of cash.

NPP means the New Payment Platform operated by NPPAL.

NPPAL means NPP Australia Limited ABN 68 601 428 737.

NPP Payments means electronic payments cleared and settled by participating financial institutions via the NPP.

Online Banking Services means the services we provide through iBank and the BCU Bank App that may allow a member to access certain information about their account, change their personal details or preferences or perform a range of transactions.

Osko means the Osko payment service provided by BPAY Pty Ltd.

Osko Payment means a payment made through Osko.

Pay&Save means the optional feature, described in clause 27 that you may add to your Access Account.

PayID means the identifier used to receive Osko Payments into an account.

Payment Agreement means an agreement established by you and a Merchant or Payment Initiator, by which you authorise us to make payments from your Account.

Payment Initiator means a payment service provider who, whether acting on behalf of you or a Merchant, is authorised by you to initiate payments from your Account and who is approved by NPPAL.

Pay To Services means the mandated payment system provided by NPP, also referred to as “Pay To” (a registered trademark to NPPAL).

Transfer means payments you elect to authorise under your Payment Agreement made from an account at another financial institution.

Transfer ID means a unique identification number generated by the Mandated Management Service in connection with a request to transfer one or more Payment Agreements.

VISA Debit Card is a debit card that draws on funds you have in your savings account, before drawing on any approved overdraft facility.

we, us, our, or BCU means Police & Nurses Limited, ABN 69 087 651 876 (trading as BCU) and its successors and assignees.

You or Your are references to you, the card holder/s in respect of the account to which the Terms & Conditions will apply.

General Terms & Conditions

1. Application of these Terms & Conditions

a. These Terms & Conditions shall apply to any savings account, transaction account (including Business Savings accounts and Transaction Accounts) and account access channel (including Non-Cash Payment Service) operated with us.

b. Your continued use of an Account Access Channel defined, or retention of funds in an account means that you agree to these Terms & Conditions.

2. Account Operations

a. To open a new account or become a signatory to an account all signatories are required to provide personal identification and be verified, as required by law.
Should you require further information about the identification requirements, please contact us.

b. At the time of opening an account, we will request that you nominate all people who will be authorised to operate the account (the signatory or signatories to the account).

c. If you do not indicate, on application, the account authorisation instructions (i.e, one to sign or two to sign), then we shall deem that any one of the signatories alone may operate the account (subject to any written instruction to the contrary).

d. We accept that the authorised signatories have authority to act fully and effectively in all dealings, matters and transactions with respect to the account.

e. If you wish to alter the account authorisation instructions, then we must be notified in writing and such notification is to be signed by the authorised account holders.

3. Joint Accounts

a. If the account is a joint account the funds are held jointly. Upon the death of one of the account holders the funds will automatically pass to the survivor/s.

b. If these Terms & Conditions are given to any of the joint account holders then will be taken to have been given to all of you.

c. All account holders are jointly and severally responsible for any indebtedness in respect to any account within the membership.

d. We can send notices, statements or any other documents (including a notice of change to the terms and conditions) by issuing them to either of you at the current address recorded for the account (this may include an electronic address provided by you). Such notices will be taken to have been given to all of you. Each of you must comply with the terms and conditions applicable to the account as if the account were in one name only.

4. Privacy

a. You may have access to the personal information we hold about you at any time by contacting us.

b. Any information you provide us, including personal information, may be provided by us to a third-party service provider as permitted or required by law, including but not limited to complying with our obligations under the Anti-Money Laundering and Counter Terrorism Financing Act 2006.

c. For more information regarding how we collect and use personal information, please refer to our privacy statement found at bcu.com.au or by contacting BCU Bank.

5. Customer Owned Banking Code of Practice

a. If you are an individual, and use your account alone or jointly with another individual or individuals, then the provisions of the Customer Owned Banking Code of Practice will apply to the account. You may obtain a copy of the Customer Owned Banking Code of Practice by contacting us on 1300 228 228 or at bcu.com.au.

6. ePayments Code

a. The ePayments Code sets out rules about how electronic transactions should work. The ePayments Code is designed to cover any type of electronic transaction that is initiated using electronic equipment and does not involve a manual signature for authorisation. Examples of electronic transactions covered under the ePayments Code are:

• ATM withdrawals
• EFTPOS transactions
• Using your VISA card over the phone or internet to effect a transaction
• Internet Banking
• BPAY payments

b. We will comply with the ePayments Code wherever that code applies. More information about the ePayments Code is available at moneysmart.gov.au or by contacting us on 1300 228 228.

7. Statements

a. A statement will be issued at least once every 6 months unless the account has a zero balance and there were no transactions during the statement period. You have the option to receive statements more frequently than once every 6 months.

b. Statements will be issued electronically via your iBank service (eStatement). You will receive an email notification when a new statement is available for you to view (along with instructions on how to access your eStatement).

c. You should regularly check you email inbox for notifications that a new eStatement is available.

d. It remains your responsibility to ensure your email address held by us is correct. If an email notification from BCU is undeliverable, further notifications may not be issued until you provide a new email address. eStatements will continue to be available via your iBank Services.

e. You may opt-out of receiving eStatements at any time and elect to receive paper statements by advising us. 
Requests to opt-out can be made by:

i. selecting a paper statement when opening your account(s);

ii. by Secure Mail;

iii. in person at any BCU Bank branch;

iv. by calling our Contact Centre on 1300 228 228 or;

v. use the ‘Manage eStatements’ option via your iBank Service.

f. If you elect to receive paper statements, your statements will be issued to the mailing address on your membership. If you change your address, you must notify BCU as soon as possible.

g. Additional statement can be obtained upon request, however a charge may be applied.

h. You should check you statement and advise us of any errors or omissions.

8. Dispute Resolution

a. A dispute arises if you make a complaint to BCU Bank about a transaction, product or service that we have provided, and you are not satisfied with the response that you receive.

b. BCU Bank’s goal is member satisfaction and we have established procedures for internal and external dispute resolution, including membership of an ASIC approved independent dispute resolution scheme.

c. If you have a complaint about the service provided to you, an electronic payment (including an unauthorised transaction) or how we have dealt with your Mistaken Payment or Misdirected Payment report, you can contact your nearest BCU store or call us on 1300 228 228 to discuss your complaint.

• If your complaint is not satisfactorily resolved during that discussion, we will refer you to our Member Advocate, who will discuss the issue with you and attempt to resolve your complaint.
  Name: Member Advocate
  Mail: BCU Bank,
  PO Box 1563
  Coffs Harbour, NSW 2450
  Ph: 1300 228 228
  Fax: 02 6690 3772
  Email: member.engagement@bcu.com.au

d. If the dispute relates to an unauthorised electronic transaction you will need to complete the Disputed Transaction Advice Form and send it to BCU Bank. This form is available on our website.

e. Within 21 days of receipt from you of the details of your complaint we will:

• complete our investigation and advise you in writing of the result of our investigation, or
• advise you in writing that we require further time to complete our investigation.

f. We will complete our investigation within 45 days of receiving your complaint unless there are exceptional circumstances. In such circumstances we will let you know of the reasons for delay and provide you with monthly updates on the progress of the investigation and its likely resolution date.

g. When we complete our investigation, we will write to you to advise you of the outcome of our investigation and the reasons for that outcome with reference to these Terms & Conditions and the ePayments Code.

h. If your dispute relates to an unauthorised transaction and we decide that you are liable for part or all of a loss arising out of the unauthorised transaction, we will:

• give you copies of any documents or other evidence we relied upon in reaching this decision; and
• advise you in writing whether or not there was any system malfunction at the time of the transaction.

i. If we find that an error was made and this may include errors that were not the subject of your complaint, we will make the appropriate adjustments to your account including interest and charges (if any) and will advise you in writing of the amount of the adjustment.

j. If we fail to observe these procedures or the requirements of the ePayments Code when we allocate liability, conduct the investigation or communicate the reasons for our decision and our failure prejudices the outcome of the investigation or causes unreasonable delay in its resolution, we will be liable for part or all of the amount of the disputed payment.

k. If you do not receive a satisfactory outcome from our Member Advocate, an electronic transaction investigation or a Mistaken Payment or Misdirected Payment investigation, you have the right, at no cost to yourself, to contact our independent external dispute resolution scheme:

Name: The Australian Financial Complaints Authority (AFCA)
Mail: GPO Box 3 Melbourne VIC 3001
Phone: 1800 367 287
Fax: (03) 9613 6399
Email: info@afca.org.au
Website: afca.org.au

9. Withholding Tax

a. Where no tax file number has been lodged with BCU Bank, then unless you are exempt, withholding tax will be debited from your account in accordance with current government rates.

10. Changes to Terms & Conditions

a. BCU Bank can change the Terms & Conditions for one or more of the following reasons:

i. to comply with any change or anticipated change in any relevant law, code of practice, guidance or general banking practice;

ii. to reflect any decision of a court, ombudsman or regulator;

iii. to reflect a change in our systems or procedures, including for security reasons;

iv. to respond to changes in the cost of providing the accounts or account access channels;

v. discontinue a product in which case we may change the terms of your product to reflect a different product with similar features to the discontinued product; or

vi. to make these Terms & Conditions clearer or to add features,

but will only do so in order to protect its legitimate business interests, and only to the extent reasonably required to do this.

b. We will notify you at least 20 days before the effective day of the changes by direct written notice to you (which may be provided with or on your statement) or publishing notices of the changes on our website bcu.com.au, if the changes to the Terms and Conditions will introduce:

• a new fee or charge
• increase a fee or charge
• reduce the number of fee free transactions permitted on the account
• vary the minimum balance to which an account keeping fee applies
• vary the method by which interest is calculated or the frequency by which it is debited or credited.
• vary the circumstances when interest is credited or debited to your account.

c. We will notify you in writing (which may be provided with or on your statement), or by publication of the changes on our website bcu.com.au, at least 20 days before the effective date of change or such other longer period as may be required by law if the change to the Terms & Conditions will:

• increase or impose new charges relating solely to the use of your Access Method, or the issue of additional or replacement Access Methods;
• increase your liability for losses relating to electronic transactions;
• impose, remove or adjust daily or periodic limits on the amount or number of transactions which may be transacted electronically; or
• make any changes to your account/s in respect of which the law requires that notice be given to you.

d. We will notify you of any other changes to these Terms & Conditions no later than the day the change takes effect, or such longer period as may be required by law, by:

• notices on or with your periodic Account Statements;
• direct written notice to you (which may be provided with or on your statement); or
• press advertisement in the national or local media,

except where the change is adverse to you in which case we will notify you at least 30 days before the effective date of the change  by advertisement in the national or state media or in writing (which may be provided with or on your statement).

e. If you do not wish your daily limit on transacted amounts via our Online Banking Services to be increased you just notify us before the effective date of change.

Otherwise, once you access the increased transaction limit, you will be deemed to have consented to the increase.

f. In respect to BPAY and Osko which are owned and operated by third parties, if the rules and regulations of BPAY or Osko require that these Terms & Conditions be changed, in any way at any time, (including without prior or full notice to you) then we will have the right to change these Terms & Conditions accordingly.

g. BCU Bank is not obliged to give you advance notice if an immediate change to these Terms & Conditions is deemed necessary for the security of our systems or individual accounts.

If you are unhappy with the changes we have made to these Terms & Conditions, you can close your account.

11. Interest

a. Interest on savings accounts may vary from time to time. Details of current interest rates are available from any BCU Bank store or by visiting bcu.com.au.

b. Please refer to the Savings & Transaction Account Interest Rate Schedule for the methods of calculation and payment of interest on savings accounts.

12. Fees and Charges

a. The details and amount of all fees and charges applicable to your accounts including account fees, transaction fees and government charges are shown in the Fees and Charges which is available from any BCU Bank store or by visiting bcu.com.au.

b. Details of all fees charged to your account are shown on your Account Statement.

13. Right of Set Off

a. In order for us to protect our legitimate business interests and acting reasonably, BCU Bank reserves the right to apply the credit balance held in any of your savings accounts against any amount due and unpaid by you to BCU Bank. We will notify you in writing if we do this. This does not apply to a loan regulated by the National Credit Code.

14. Overdrawn Accounts

a. A credit balance is to be retained in the account at all times unless a continuing credit facility is linked to the account, in which case the debit balance is not to exceed the approved limit.

b. If your account becomes overdrawn or exceeds the approved limit, you are required to repay the overdrawn amount, unless alternative arrangements have been made.

c. BCU Bank, acting reasonably, is entitled to:

• apply funds in any other accounts in your name as full settlement or towards partial settlement of the overdrawn amount;
• charge interest at such a rate as we may deem appropriate on the daily unpaid balance of the account;
• debit to your account any cost incurred in recovering any monies owing on an account;
• at its reasonable discretion, lower your daily card access limits (online, offline, and POS) to zero; and
• at its reasonable discretion, require the account to be closed.

d. Any overdrawn interest charged will be debited to your account in line with the frequency of interest credited to the account.

15. Continuing Credit Facility

a. If you have a continuing credit facility such as an overdraft linked to your account this credit facility shall be subject to a separate written agreement.

16. Closure of Accounts

16.1 Closure of inactive accounts

a. If your account becomes inactive we may close your account without notice to you.
Your account becomes inactive if:

• you do not make any deposits and/ or withdrawals during a continuous 6 month period; and
• the balance of your account is nil or in debit without any arrangement in place to bring the account balance into credit.

16.2 Unclaimed monies

a. If there has been no member-initiated transactions on an account under the membership for more than 12 months we may transfer the account to dormant status. Prior to doing so, we will write to you at the address recorded on your account.

b. During the time that the account remains in dormant status, we may charge an ‘annual dormancy fee’ to cover the cost of maintaining the funds for you. This fee will be charged annually during the month of December.

c. Any funds not claimed within a period of time as specified by the Banking Act, may be forwarded to the Australian Securities and Investments Commission (ASIC).

d. While the account is in dormant status interest may not be accrued or paid on these accounts.

16.3 Member requested closure of accounts

a. We will close any or all of your accounts upon your written request. However, where a VISA card is attached to the account, you are still liable for any VISA transactions that come through on your account after your account has been closed.

b. Upon closing your account we will pay to you the credit balance of your account plus deposit interest, if any, less any accrued account fees and government charges applicable to the closing date. Monthly fees will apply even though the account has been open for only part of a calendar month. If the account is holding uncleared funds at the time of your request to close the account, these will not be released until the funds are cleared.

c. If your account is in debit, the balance plus any accrued debit interest, fees and government charges applicable to the closing date will be payable by you to BCU Bank.

d. Any unused cheque books, and electronic cards which operate the account must be returned to BCU upon closure of the account. BCU Bank reserves the right to return any cheques presented for payment after the account has been closed.

e. If your payroll is being credited to your account you will need to notify your paymaster. Delays in effecting this change are beyond our control.

f. Upon closure of the last account within a membership, any membership shares may be refunded (if applicable).

17. Financial Abuse

a. Financial abuse is a serious form of domestic and family violence that may occur when an individual/s uses money, banking services or resources to gain power and control of another individual.

b. You must not use an account or service to engage in financial abuse, any unlawful behaviours or to engage in offensive, defamatory, threatening, harassing or controlling behaviour. We consider these behaviours to be inappropriate and unacceptable.

c. We may reasonably exercise any rights available to us to suspend, cancel or deny access to your accounts, cards or related services or delay, block or refuse to permit a transaction if we consider it is necessary to protect a member or another person from inappropriate behaviour or financial abuse.

d. If you are experiencing or are a victim of financial abuse and would like to discuss this with us to understand what options may be available to you, please contact us on 1300 228 228.

Special Conditions of Savings Accounts

18. Maximum Balance Limit

A maximum account balance of $5,000,000 applies to all savings accounts.

19. Scoot’s Super Saver Account

a. The BCU Bank Scoot’s Super Savers account is available to all children up to (and including) the age of 12.

b. Joint accounts are not permitted.

c. Members are restricted to one account per child.

d. A parent or guardian must open the account on the child’s behalf in the child’s name and must be a signatory on the account.

e. Access is not available through debit cards.

f. Once the account holder turns 13, the Scoot Super Saver account will be automatically converted to a BCU Access account. This account will be in the child’s name and will continue to have the parent or guardian as a signatory.

20. BCU iSaver

a. Funds can only be accessed through our Online Banking Services. Access is not available through debit cards.

b. Direct debit transactions are not permitted on BCU iSaver accounts.

21. Advantage Saver

a. The Advantage Saver will be available to members who are over 55 years of age. Where the account is jointly owned, at least one member must be over 55.

b. Members may hold a maximum of one Advantage Saver Account as single account and one Advantage Saver Account as a joint account.

22. Offset Account

a. This clause 23 applies if BCU Bank has agreed to allow you to nominate an offset account to be linked to your home loan account.

b. The interest charges calculated on your home loan account for each day will be reduced by the Offset Amount on that day (except during any fixed interest rate period).

c. The Offset Amount is the amount calculated by multiplying the credit balance of your offset account by the daily percentage rate applicable to your home loan account.

d. If the balance of your offset account is greater than the unpaid balance of your home loan account on any day, the interest charges on your home loan account will be zero for that day.

e. BCU Bank will not pay interest on the balance, or any part of the balance, of your offset account.

f. To be eligible to be linked to your home loan account the offset account must be held in the name of one or more (or all) of the home loan borrowers. Only one offset account may be linked to a home loan account at any time.

g. BCU Bank reserves the right to withdraw the availability of any offset provided under the terms of your home loan at its discretion at any time having regard to its legitimate business interests. We will give you reasonable prior notice in writing if we do this.

23. Business Offset Account

a. This clause 24 applies if we have agreed to allow you to nominate an offset account to be linked to your business / commercial account.

b. The interest charges calculated on your loan account for each day will be reduced by the Offset Amount on that day (except during any fixed interest rate period).

c. The Offset Amount is the amount calculated by multiplying 20% of the credit balance of your offset account by the daily percentage rate applicable to your loan account.

d. If the balance of your offset account is greater than the unpaid balance of your loan account on any day, the interest charges on  our loan account will be zero for that day.

e. BCU Bank will not pay interest on the balance, or any part of the balance, of your offset account.

f. Your offset account must be held in the same name/s as your loan account. Only one offset account can be linked to a loan account.

g. Funds can only be accessed through our Online Banking Services. Access is not available through debit cards.

h. Direct debit transactions are not permitted on Business Offset accounts.

i. BCU Bank reserves the right to withdraw the availability of any offset provided under the terms of your loan at its discretion at any time.

24. Business iSaver

a. The Business iSaver account is only available for business members.

b. Funds can only be accessed through our Online Banking Services. Access is not available through debit cards.

c. Access is not available through ATM debit cards, cheque books, Bank@Post, Direct debits or BPAY. To access these payment  methods, funds must be transferred to a transaction account.

25. Real Estate Trust account & Real Estate Statutory Interest account

a. The Real Estate Trust account is only available to business members who are New South Wales real estate agents licensed under the Property and Stock Agents Act 2002 (NSW).

b. Each Real Estate Trust account requires a Unique Identifying Number (UIN) as issued by NSW Fair Trading.

c. A Real Estate Trust account can only be opened if we are notified in writing that the account is required by the Property and Stock Agents Act 2002 (NSW) and a NSW Fair Trading UIN is provided at the time of opening.

d. A Real Estate Trust account must have a corresponding BCU Bank Business Access account as a general working account and to which you authorise the fees applicable to the Real Estate Trust Account to be charged.

e. If the corresponding BCU Bank Business Access account is closed, your Real Estate Trust account will also be closed.

f. A Real Estate Trust account must have a corresponding Real Estate Statutory Interest account for interest applicable to the Real Estate Trust Account to be paid to prior to that interest being paid by BCU Bank to the relevant State or industry regulatory body.

26. Concession Account

a. To be eligible for the Concession Account each account holder must have one of the following Australian government cards;

i. Commonwealth Senior Health Card

ii. Pensioner Concession Card

iii. Health Care Card (each a “Concession Card”)

b. The applicable Concession Card must be shown by each account holder when requesting a Concession Account to be opened.

c. Centrelink benefits must continue to be paid into the Concession Account to continue receiving fee free benefits.

d. Fees for non-standard transactions on the Concession Account will apply per transaction. (Refer to the Fees and Charges).

e. If Centrelink benefits are not paid into the Concession Account for more than 30 consecutive days, the Concession Account may be switched to a BCU Bank Access Account.

f. It you are unable to show your Concession Card when requested, the Concession Account may be switched to a BCU Access Account.

g. Members may hold a maximum of one Concession Account as either a single or joint account.

h. Overdrawn account features are not available on the Concession Account.

i. Should a transaction be presented that may cause your Concession Account to become overdrawn, we will dishonour the transaction with no fees or debit interest to be charged to your account.

j. If a fee relating to a transaction dishonour or debit interest is incorrectly charged to your Concession Account, we will rebate the fee and/or interest to your account within 30 days.

k. For concession benefits, we may make relevant enquiries with government agencies to verify your eligibility for benefits. Should your eligibility for a concession benefit cease, you must inform us in writing upon becoming aware of this.

27. BCU Access Account

a. BCU Access Account holders who have a Visa debit Card attached to their account may choose to add Pay&Save to the BCU Access Account.

b. Pay&Save is a feature that rounds up to the nearest selected dollar amount the value of each transaction debited to the BCU Access Account using the account holders Visa Debit Card.

c. The amount by which the transaction is rounded up is automatically transferred to an Eligible Savings Account nominated by the BCU Access Account holder. This transfer is referred to in this clause 31 as a ‘Pay&Save Transaction’.

d. You may select one of the following nearest dollar value options available for eligible transactions to be rounded up to;

i. $1.00

ii. $5.00; or

iii. $10.00

(the 'Round Up Amount').

e. You may opt-in or opt-out of Pay&Save, or change your selected round up amount, at any time:

i. by activating the Pay&Save option in your BCU Bank App;

ii. by Secure mail;

iii. in person at any BCU Bank branch

iv. by calling our Contact Centre on 1300 228 228

v. by any other method we make available from time to time.

f. Pay&Save will only operate if there are sufficient available funds in your BCU Access account to make the Pay&Save Transaction.

g. Each Pay&Save Transaction will be debited from the BCU Access Account and transferred to the nominated Eligible Savings Account individually. Pay&Save Transactions may be listed in you statement of account under a general description, such as “Round Up’. Pay&Save Transactions will occur overnight, at the end of the day on which the relevant transaction was debited to the BCU Access Account.

h. For example, if you make a purchase of $2.50 using your Visa debit Card, there will be two transactions; firstly, the purchase amount (i.e. $2.50) is debited to your BCU Access Account, then secondly, the Round Up Amount is transferred from your BCU Access Account to your nominated Eligible Savings Account overnight.

i. In order to enable Pay&Save, the account holder must;

i. authorise us to debit the Rounded Up amount from the account holder’s BCU Access Account; and

ii. nominate an Eligible Savings Account to which the Rounded Up Amounts will be transferred.

The nominated Eligible Savings Account need not be held in the same name/s or capacity/ies as the BCU Access Account.

j. Pay&Save is only available on BCU Access Accounts;

• held in single names; or
• held jointly where any one of the signatories alone is authorised to operate the account (refer to clause 2).

k. Pay&Save does not operate in respect of BPAY Payments or Osko Payments from a BCU Access Account.

l. If a transaction debited to the BCU Access Account is reversed for any reason, there will be no reversal of the related Pay&Save Transaction.

m. You may change your nominated Eligible Savings Account at any time by notifying us:

i. using your BCU Bank app;

ii. by Secured Mail;

iii. in person at any BCU Bank branch;

iv. by calling our Contact centre on 1300 228 228; or

v. by any other method we make available from time to time.

Every Pay&Save Transaction that occurs before the cut-off time on the day of the account change (even those relating to transactions on your Visa Debit Card that occurred before the time of the account change) will be credited to the new nominated Eligible Savings Account by the end of the day that the account change was made.

n. Cut-off Times for Pay&Save Transactions may vary from time to time. If you make a transaction using your Visa Debit Card after the Cut-off Time, the related Pay&Save Transaction will not be processed until the end of the following day.

o. There is no limit to the number of BCU Access Accounts that a member may hold.

28. Boss Saver Account

a. The Boss Saver Account is available to members aged 18 years or older.

b. Members may hold a maximum of one Boss Saver Account as a single account holder (and not as a joint account holder).

c. The Boss Saver Account must be linked to an existing BCU Access Account:

• • • held by you as a single account holder (not as a joint account holder); and
    • that we have authorised you to access using a Visa Debit Card.

d. When opening the Boss Saver Account through our online banking services, we will endeavour to link it to an existing BCU Access Account within 5 business days.

e. The Boss Saver Account can only be linked to one BCU Access Account at any one time.

f. If you have more than one existing BCU Access Account eligible to be linked to a Boss Saver Account, we will link it to the account with the most Visa Debit Card transactions made in the previous calendar month unless you nominate an alternative account by contacting us.

g. You may request that we change the linked account to another existing eligible BCU Access Account at any time by contacting us.

h. Bonus interest will be payable on the Boss Saver Account in a calendar month (in addition to the standard rate of interest) if:

i. at least $500 is deposited to any BCU Access Account held in your name (excluding cash deposits, telegraphic transfers, SWIFT payments and transfers between accounts you hold with us, including accounts held jointly in the calendar month and

ii. at least 5 eligible Visa Card transactions have been made from the linked BCU Access Account (excluding ATM withdrawals, balance enquiries and transfers, direct debits, Bank@Post™ transactions and BPAY payments and uncleared transactions) in the calendar month.

i. Bonus interest is not payable on the Boss Saver Account if it is not open and not linked to an existing BCU Access Account at the end of the calendar month.

j. If you close the BCU Access Account linked to the Boss Saver Account, you must nominate a new eligible BCU Access Account to be linked. If a new account is not linked, bonus interest is not payable.

k. If payable, bonus interest will be paid monthly and calculated on the daily closing balance of the Boss Saver Account up to $100,000.
If you do not meet these bonus interest eligibility requirements in any month, no bonus rate of interest will be paid for that particular calendar month and only the standard rate of interest will apply.

29. Bonus Saver Account

a. Members may hold a maximum of one Bonus Saver account as a single account holder and one Bonus Saver account as a joint account holder at any given time.

b. Members aged 12 years of age or older are eligible to open a Bonus Saver account.

c. You may apply to open a new Bonus Saver account 12 months after the date of closing your previous Bonus Saver account.

d. The Bonus interest rate on Bonus Saver accounts will be paid on the daily closing balance of the account for the first 4 months following the opening date of your Bonus Saver account. After expiry of the 4-month period, the standard interest rate will apply.

e. Transactions are limited to online transactions. Express Cheque Deposits. over-the-counter deposits and withdrawals and staff assisted transfers.

f. Funds may only be accessed by over-the-counter withdrawals or through our Online Banking Services. Access is not available through ATM or debit cards.

30. BCU Dreamsaver Account (Product no longer available)

a. The BCU Dreamsaver account is available to customers aged 13 to 24 years.

b. Funds can only be accessed through our Online Banking Services. Access is not available through debit cards.

c. Joint accounts are not permitted.

d. Members are restricted to one account per membership.

e. Once the account holder turns 25 the BCU Dreamsaver account will be closed and all funds will be transferred to the customer’s BCU access account.

31. Christmas Club Account (Product no longer available)

a. Deposits to a Christmas Club account can be made at any time.

b. Withdrawals can only be made between 1st November and 31st January each year. Withdrawals outside of this period are at BCU Bank's discretion.

c. BCU Bank may at its discretion close the product and transfer the funds to a more suitable product should regular access be needed.

32. SMSF Cash iSaver (Product no longer available)

a. Funds can only be accessed through our Online Banking Services. Access is not available through debit cards.

b. Direct debit transactions are not permitted on SMSF Cash iSaver accounts.

33. Community Saver Account (Product no longer available)

a. The Community Saver Account is for not-for-profit community groups including sport clubs, social clubs, charities and business associations.

b. BCU Bank will pay a donation to the charity nominated by you at the end of the financial year on the basis of the annual average balance of your Community Saver Account. This donation will be paid at the rate stated in the Savings and Transaction Account Interest Rate Schedule.

Account Access Terms & Conditions

You can choose the account access channel that best suits you. Not all account access channels are available on all accounts. Refer to  bcu.com.au for details of the access channels available and any fees that may apply to your account/s. The following Terms & Conditions apply to each account access channel.

34. Card Access

a. BCU Bank has a separate Terms & Conditions including Terms & Conditions that apply if you use a card (physical or digital) to complete a transaction on your account.

35. Direct Entry

a. The direct entry system is available for making payments to or receiving payments from approved organisations. Direct entry payments include direct credits such as payroll or government allowances, direct debits, auto transfers and external transfers through the internet.

b. BCU Bank may alter, stop or withdraw this service at its discretion, by notifying you in writing of its intention to do so.

c. Directing your pay or other income to your accounts.

• You can direct all or part of your regular income into your BCU Bank account/s, using our BSB and your account number and your name (e.g. J. Smith). This regular income could be your salary, superannuation payments, dividends, family payments, pension, or tax returns.
• If your regular income is received at least quarterly an automatic distribution split can be arranged to split the amount between your accounts. You can alter this distribution split authority at any time. If an alteration requires input from your paymaster to effect the changes, delays may be experienced beyond BCU Bank’s control.

d. Direct debits from another financial institution.

• The direct debit facility is available to arrange a credit to your account with BCU Bank from an account you hold with another financial institution. In order for BCU Bank to initiate a direct debit on your behalf, a Direct Debit Request Form must be completed. Full Terms & Conditions are provided when the Direct Debit Request Form is completed.
• These arrangements may be one-off, weekly, fortnightly and monthly; and may be set up to credit any existing saving or loan account with BCU Bank.
• If you wish to cancel a direct debit, you must submit a signed written request to BCU Bank. We require at least 1 business day to act on the instruction. You should also notify the business or organisation of your intention to cancel their direct debit with BCU Bank.

e. Direct debits from your BCU Bank account.

• You may request a business or organisation to direct debit funds from your account. To arrange a direct debit, contact the business or organisation and complete their appropriate form, providing our BSB number 533-000, the specific account number and the account holder’s name from which the direct debit is to be paid from. Refer to bcu.com.au to ensure direct debits of this nature are permitted from the account you are choosing. If you wish to stop payment on a direct debit, you must submit a signed written request. We require at least 1 business day to act on that instruction. You should also notify the business or organisation of your intention to cancel their direct debit with BCU Bank.
• A direct debit can be arranged for recurring payments to be automatically deducted from your account with us. To arrange a direct debit you should contact the payee organisation and complete the appropriate form with them.
• We advise that the organisation withdrawing the funds controls when direct debit payments are processed. It is suggested that you confirm with the organisation withdrawing the funds when your direct debit is scheduled.
• Unless sufficient available balance exists in the account by the close of business on the business day before the direct debit is processed, on the day, the payment may, at BCU Bank discretion, not be effected. If the payment is not effected, a dishonour fee will be charged. A referral fee will be applied if insufficient funds are available yet BCU Bank honours the payment.

f. Auto transfers.

• An auto transfer can be set up to regularly send funds internally to another account or membership within BCU Bank or to an external third party organisation.
• Unless sufficient available balance exists in the account by the close of business on the business day before the payment is due, the payment may not, at BCU Bank's discretion, be made.
• A fee may be charged for each auto transfer effected. For external auto transfers, if a payment is not effected, a dishonour fee may be charged. A referral fee will be applied if there are insufficient available funds and the external auto transfer is honoured.
• If an auto transfer is dishonoured, it will be cancelled, and you will need to contact BCU Bank to reactivate the auto transfer for future payments.
• You may alter or cancel an auto transfer by contacting BCU Bank.
• Auto transfers to another financial institution may take up to 48 hours to reach their destination.

36. Bank@Post™

a. You can withdraw cash of up to $1,000 daily at Australia Post offices displaying the Bank@Post™ sign.

b. You can deposit cash and cheques up to $3,000 daily at Australia Post offices displaying the Bank@Post sign.

c. You will need card access and your Personal Identification Number (PIN) to access Bank@Post™.

d. When a cheque is deposited at Bank@Post™ cheques must be made out in the name of the cardholder.

e. Cheques deposited at Bank@Post™ require a minimum 7 business days for clearance.

37. Bank Cheques

a. One of the ways you can withdraw funds from your account is by requesting a bank cheque. A fee may apply to the issue of a bank cheque.

b. A bank cheque will be issued under the following circumstances:

• sufficient available funds are held in your account at the time the request is made; and
• the appropriate withdrawal form has been completed.

c. A bank cheque can only be stopped where it has been lost or stolen, and the BCU Bank Stop Payment/Indemnity Form has been completed.

38. Counter Transaction

38.1 Deposits

a. When a cheque is deposited to an account, including a bank cheque at any BCU Bank store, the funds cannot be withdrawn until  proceeds have been made available.
Funds will be made available as follows:

• Australian banks and financial institutions – 4 business days.
• Interstate cheque – 4 business days.
• Overseas cheque – 45 business days (we cannot guarantee this time frame and the exchange rate is not applied until the date the funds are received in the savings account).
• Public holiday in the state where the cheque is payable – 5 business days plus however many days the public holiday extends for.

b. There may be a 24 hour extension on the above clearance periods due to the paying bank’s chequing procedures. A cheque may still be dishonoured after this period.

c. If BCU Bank allows you to withdraw the funds or any part of them before the proceeds of the cheque are made available, BCU Bank is still entitled to debit the account (or any related account) if the cheque is subsequently returned dishonoured.

38.2 Withdrawals

a. Withdrawals can be made at any BCU Bank store.

b. A fee may apply for cash withdrawal.

c. Notice is required for large cash withdrawals.

d. BCU Bank will not allow a withdrawal unless acceptable proof of identity of the person making the withdrawal is provided.

39. Access to Online Banking Services

a. Depending on the functionality of the services you are using, iBank and the BCU Bank App can be used to access information about your account, change your personal details or preferences, or make a range of transactions 24 hours a day. (External transfers made by way of Osko Payments will be processed immediately if the recipient’s financial institution is a participant in Osko. If the recipient’s financial institution is not a participant in Osko then only payments made during business hours may be processed immediately. All others may be processed the next business day).

b. You must apply for each Online Banking Service separately.

c. Separate Terms & Conditions apply to your use of Online Banking Services (including BPAY). These Terms & Conditions will be provided to you at the time of application. You can also obtain a copy from our website bcu.com.au or by contacting us. You should read these Terms and Conditions carefully before using Online Banking Services.

d. To the extent of any inconsistency between these Terms & Conditions and the Online Banking Services Terms and Conditions, the Online Banking Services Terms and Conditions will prevail.

39.1 Mistaken and Misdirected Payments.

If you have made a Mistaken or Misdirected Payment, you can report it to us by:

• visiting your nearest BCU Bank store or calling us on 1300 228 228 and providing us with the details of the Mistaken/Misdirected Payment; or
• completing a Mistaken/Misdirected Payment Form available at bcu.com.au and sending it to BCU Bank.
  If you make a report to BCU Bank that an Osko Payment made from your account to an external bank account was a Misdirected Payment, we may request the recipient’s financial institution to identify and return the funds to BCU Bank.
  If you make a report to BCU that an Osko Payment made from your account to another bank account held with BCU Bank was a Misdirected Payment, we will use reasonable endeavours to determine whether a Misdirected Payment occurred and, if satisfied return the funds to you within 10 business days.
  If you make a report to BCU Bank that an electronic transaction payment made from your account to an external bank account was a Mistaken Payment, we will send a request as soon as reasonably possible and no later than 5 business days from the day you first report it to BCU Bank to the receiving financial institution for the return of funds, and the receiving financial institution must within a further 5 business days of receiving our request:

i. acknowledge our request for the return of funds; and

ii. advise us whether there are sufficient funds in the account of the unintended recipient to cover the Mistaken Payment.

• within 10 business days of making the payment, and there are sufficient credit funds available in the account of the unintended recipient, and both BCU Bank and the receiving financial institution (at which the relevant account to which the Mistaken Payment was made is held) are satisfied that a Mistaken Payment occurred, then the receiving financial institution must return the funds to BCU Bank within 5 to 10 business days of receiving a request.
  BCU Bank will then return the funds to you as soon as practicable.
• between 10 business days and 7 months of making the payment, and there are sufficient credit funds available in the account of the unintended recipient and BCU Bank is satisfied that a Mistaken Payment occurred, then the receiving financial institution must complete its investigation within 10 business days of receiving a request. If, after completing its investigation, the receiving financial institution is satisfied that a Mistaken Payment occurred, it must prevent the unintended recipient from withdrawing the funds mistakenly paid for 10 further business days. The receiving financial institution must notify the unintended recipient that it will withdraw funds in the amount of the Mistaken Payment if the unintended recipient does not establish that they are entitled to the funds within 10 business days. If the unintended recipient does not establish that they are entitled to the funds within 10 business days, the receiving financial institution must return the funds to BCU Bank within a further 2 business days. BCU Bank will then return the funds to you as soon as practicable.
• after 7 months of making the payment, and there are sufficient credit funds available in the account of the unintended recipient, and both BCU Bank and the receiving financial institution are satisfied that a Mistaken Payment occurred, then the receiving financial institution must seek the consent of the unintended recipient to return the funds mistakenly paid. If the unintended recipient consents to the return of funds, the receiving financial institution must return the funds to BCU Bank. BCU Bank will then return the funds to you as soon as practicable.
• at any time and if BCU Bank is satisfied that a Mistaken Payment has occurred but the receiving financial institution is not satisfied that a Mistaken Payment occurred and
  there are sufficient credit funds available in the account of the unintended recipient the receiving financial institution may seek the consent of the unintended recipient to return the funds mistakenly paid. If the unintended recipient consents to the return of the funds, the receiving financial institution must return the funds to BCU Bank and BCU Bank will return the funds to you as soon as practicable.
• at any time and both BCU Bank and the receiving financial institution are satisfied that a Mistaken Payment occurred but there are not sufficient credit funds available in the account of the unintended recipient to the full value of the Mistaken Payment, the receiving financial institution must use reasonable endeavours to retrieve the funds mistakenly paid from the unintended recipient for return to you (for example, by facilitating repayment of the funds by the unintended recipient by instalments).
• at any time and if BCU Bank is not satisfied that a Mistaken Payment occurred, BCU Bank will not take any further action and you will be liable for all losses arising from the Mistaken Payment.

If you make a report to BCU Bank that a payment made from your account to another bank account held with BCU Bank was a Mistaken Payment:

• within 10 business days of making the payment, and there are sufficient credit funds available in the account of the unintended recipient, and BCU Bank is satisfied that a Mistaken Payment occurred, then we will return the funds to you within 5 to 10 business days of receiving your request.
• between 10 business days and 7 months of making the payment, and there are sufficient credit funds available in the account of the unintended recipient and BCU Bank is satisfied that a Mistaken Payment occurred, then we will prevent the unintended recipient from withdrawing the funds mistakenly paid for 10 further business days. We must notify the unintended recipient that we will withdraw funds in the amount of the Mistaken Payment if the unintended recipient does not establish that they are entitled to the funds within 10 business days. If the unintended recipient does not establish that they are entitled to the funds within 10 business days, we will return the funds to you within a further 2 business days.
• after 7 months of making the payment, and there are sufficient credit funds available in the account of the unintended recipient, and BCU Bank is satisfied that a Mistaken Payment occurred, then we will seek the consent of the unintended recipient to return the funds mistakenly paid. If the unintended recipient consents to the return of funds, we will return the funds to you as soon as practicable.
• at any time and BCU Bank is satisfied that a Mistaken Payment occurred but there are not sufficient credit funds available in the account of the unintended recipient to the full value of the Mistaken Payment, we will use reasonable endeavours to retrieve the funds mistakenly paid from the unintended recipient for return to you (for example, by facilitating repayment of the funds by the unintended recipient by instalments).
• at any time and BCU Bank is not satisfied that a Mistaken Payment occurred, BCU Bank will not take any further action and you will be liable for the loss arising from the Mistaken Payment.
• BCU Bank will inform you of the outcome of a reported Mistaken or Misdirected Payment in writing within 30 business days of the day on which the report is made.
• If you have a complaint about how your Mistaken or Misdirected Payment report has been dealt with, you can make a complaint in accordance with clause 8.
• It is possible that you may receive a Mistaken or Misdirected Payment into your account. If this occurs, we may be required to recover these funds and return the funds to the sender. BCU Bank will notify you in writing if we do so. While we may, in some circumstances, seek your consent to return the funds, we will not always do so.
• In addition, there may be situations where you will need to prove your entitlement to the funds. If this occurs we will notify you in writing of the steps you need to take to confirm your entitlement to the funds.

40. BPAY Terms & Conditions

40.1 Using BPAY

a. We are a member of BPAY. We will advise you if we are no longer a member of BPAY.

b. BPAY can be used to pay bills bearing the BPAY logo. We will advise you if and when other transactions can be made using BPAY.

c. Unless you are advised otherwise, you may use BPAY only to make payments from the account.

d. When you tell us to make a BPAY Payment, you must tell us the Biller’s code number (found on your bill), your customer Reference Number (e.g. your account number with the biller), the amount to be paid and the account from which the amount is to be paid.

e. You acknowledge that we are not required to affect a BPAY Payment if you do not give us all the information specified in clause 40.1(d) or if the information you give us is inaccurate.

f. We will debit the value of each BPAY Payment and any applicable fees to the account from which the relevant BPAY Payment is made.

g. If you instruct us to make any BPAY Payment, but close the account to be debited before the BPAY Payment is processed, you will remain liable for any dishonour fees incurred in respect of that BPAY Payment.

h. You acknowledge that third party organisations (such as Billers or other financial institutions) may impose additional restrictions on your access to and use of BPAY.

i. You acknowledge that the receipt by a Biller of a mistaken or erroneous payment does not, or will not constitute under any circumstances part or whole satisfaction of any underlying debt owed between you and that Biller.

j. A BPAY Payment may take up to 48 hours, after the initial request, to reach its destination.

40.2 Processing of BPAY Payments

a. A BPAY Payment instruction is irrevocable. Except for future dated payments you cannot stop a BPAY Payment once you have instructed us to make it and we cannot reverse it.

b. We will treat your BPAY Payment instruction as valid if, when you give it to us, you use the correct Access Method.

c. You should notify us immediately if you think that you have made a mistake when making a BPAY Payment or if you did not authorise a BPAY Payment that has been made from your account.

d. A BPAY Payment is treated as received by the Biller to whom it is directed:

• on the date you direct us to make it, if we receive your direction by the cut off time of 1.30pm (Australian Western Standard time) on a Banking Business Day.
• otherwise, on the next Banking Business Day after you direct us to make it.

e. The BPAY Payment may take longer to be credited to a Biller if you tell us to make it on a Saturday, Sunday or a NSW public holiday or if another participant in BPAY does not process a BPAY Payment as soon as they receive its details.

f. Notwithstanding this, a delay may occur processing a BPAY Payment if:

• there is a public or bank holiday on the day after you instruct us to make a BPAY payment;
• you tell us to make a BPAY Payment on a day which is not a Banking Business Day or after the Cut Off Time on a Banking Business Day;
• a Biller, or another financial institution participating in BPAY, does not comply with its BPAY obligations; or
• there’s a system malfunction.

g. If we are advised that your payment cannot be processed by a Biller, we will:

• advise you of this;
• credit your account with the amount of the BPAY Payment; and
• take all reasonable steps to assist you in making the BPAY Payment as quickly as possible.

h. You must be careful to ensure you tell us the correct amount you wish to pay. If you make a BPAY Payment and later discover that:

• the amount you paid was greater than the amount you needed to pay, you must contact the Biller to obtain a refund of the excess; or
• the amount you paid was less than the amount you needed to pay, you can make another BPAY Payment for the difference between the amount you actually paid and the amount you needed to pay.

40.3 Future Dated Payments

You may arrange BPAY Payments up to 60 days in advance of the time for payment. If you use this option you should be aware that:

a. You are responsible for maintaining, in the account to be drawn on, sufficient available funds to cover all future dated BPAY Payments (and any other drawings) on the day/s you have nominated for payment or, if the account is a credit facility, there must be sufficient available credit for that purpose.

b. If there are insufficient available funds or, as relevant, insufficient available credit, the BPAY Payment will not be made and you will be charged a dishonour fee.

c. You are responsible for checking your account transaction details or account statement to ensure the future dated payment is made correctly.

d. You should contact us on 1300 228 228 if there are any problems with your future dated payment.

e. You must contact us if you wish to cancel a future dated payment after you have given the direction, but before the date for the payment. You cannot stop a BPAY Payment on or after that date.

40.4 BPAY Transaction Limits

a. The total amount of all BPAY Payments you make in one day from all accounts may not exceed $10,000.

b. You may request a limit to be increased for a particular day only. If BCU Bank chooses to allow such a temporary increase, the total amount of all BPAY Payments you make on that day on which the limit has been increased, will be the increased limit allowed by BCU Bank for that day. Where you request an increase in the transaction limit on a particular day, that increase may increase your liability in the case of an unauthorised transaction.

c. If at any time BPAY will allow transactions other than bill payments to be processed through BPAY, we will advise you accordingly. However, we may limit the amount you may transact on any one day via BPAY on the other transactions.

d. BCU Bank may vary the transaction limit from time to time and will advise you of such a change.

40.5 BPAY Payment Directions

You acknowledge and agree that:

a. we may, acting reasonably, refuse, for any reason, to give effect to any direction you give us in respect of a payment to be made via BPAY; and

b. we are not liable to you, or any other party, for any loss or damage which you or that other party may suffer as a result of such refusal, except to the extent that the loss is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

40.6 Security Breaches

a. We will attempt to make sure that your BPAY Payments are processed promptly by us and participants in BPAY, and you must tell us promptly if:

• you become aware of any delays or mistakes in processing your BPAY Payments;
• you advise us that you did not receive the required device or passcode required to complete electronic payments from your account;
• you did not authorise a BPAY Payment that has been made from your account; or
• you think that you have been fraudulently induced to make a BPAY Payment.

b. If you think that the security of your Access Method has been compromised you should notify us immediately and at any time by calling 1300 228 228.

c. If you believe an unauthorised BPAY Payment has been made you should change the PIN and/or password immediately.

d. We will acknowledge your notification by giving you a reference number that verifies the date and time you contacted us.

40.7 Access Method Security Guidelines

This clause applies to your Access Method.

a. You must look after your Access Method at all times so as to minimise the risk of losing it or allowing it to be used without your authorisation.

b. You must not write down any part of your Access Method, including any passwords or codes:

• on your Access Method or carry your Access Method or keep a record of it with any other part of your Access Method; and
• on any article that may be lost or stolen simultaneously

unless you have taken reasonable steps to hide or disguise the code or prevent unauthorised access to the record.

c. You must not select an Access Method (i.e. a password or code) that represents your birth date or a recognisable part of your name. If you do use an obvious code such as a name or birth date you may be liable for any losses that occur as a result of unauthorised use of the Access Method before you notify us that the Access Method has been misused or become known to someone else.

d. You must not tell or show or give your Access Method (including any password or access code) to anyone else (including family and friends).

e. You must not act with extreme carelessness in failing to protect the security of the code. In addition, you must comply with the security guidelines that apply to your Access Method.

We recommend that you:

• use care to prevent anyone seeing the details you enter to access BPAY;
• change any code at regular intervals;
• never reveal any code to anyone;
• never write any code down; and
• promptly notify us of any change of address.

The guidelines contained in this box provide examples only of security measures and will not determine your liability for any losses resulting from unauthorised BPAY Payments. Liability for such payments will be determined in accordance with clause 40.8 of these Terms & Conditions and the ePayments code.

40.8 Your Liability for Unauthorised Electronic Transactions and BPAY Payments

a. You are liable for all electronic transactions carried out by you (including any authorised user) or by anyone carrying out a transaction with your knowledge and/or consent, regardless of when the transaction is processed to your account with us.

b. If you are responsible for a mistaken BPAY Payment and we cannot recover the amount from the party who received it within 20 Banking Business Days of us attempting to do so, you will be liable for that payment.

c. You are not liable for losses caused by unauthorised electronic transactions:

i. where it is clear you have not contributed to the loss;

ii. that are caused by the fraudulent or negligent conduct of employees or agents of:

• us;
• any organisation involved in networking arrangements; or
• any merchant or their employee or agent.

iii. relating to a forged, faulty, expired or cancelled Access Method;

iv. resulting from unauthorised use of the Access Method:

• before you received your Access Method; or
• after you notified us in accordance with clause 40.6 that your Access Method has been misused, lost or stolen or used without your authorisation or if your password security has been breached; or

v. that are caused by the transaction being incorrectly debited more than once to your account.

d. Where 1 or more Access Methods are required for an electronic transaction, you will be liable for any loss of funds arising from unauthorised electronic transactions if the loss occurs before you notify us that your Access Method has not been received or has been misused, lost or stolen or used without your authorisation and if we prove, on the balance of probabilities, that you contributed to 50% or more of the loss through:

• your fraud or, your failure to keep your access code secure in accordance with clauses 40.7; or
• unreasonably delaying in notifying us of the misuse, loss, theft, or unauthorised use of the Access Method and the loss occurs between the time you did, or reasonably should have, become aware of these matters and the time of notification to us.

i. However, you will not be liable for:

• the portion of the loss that exceeds any applicable daily or periodic transaction limits;
• the portion of the loss on your account which exceeds the available balance of your account, including any prearranged credit;
• or any losses incurred on your account which had not been agreed with us could be accessed using the Access Method.

e. Where an Access Method is required to perform the unauthorised electronic transaction and clause 40.8(d) does not apply, your liability for any loss of funds arising from unauthorised electronic transaction, if the loss occurs before you notify us that the access code has been misused, lost, stolen or used without your authorisation, is the lesser of:

1. $150;
2. the available balance of your account, including any pre-arranged credit; or
3. the actual loss at the time you notify us that your access code has been misused, lost, stolen or used without your authorisation (except that portion of the loss that exceeds any daily or periodic transaction limits applicable to the use of your access code or your account).

f. If you leave your card in an ATM, you will be liable for all losses arising from unauthorised transactions, provided that the ATM incorporates reasonable safety standards that lessen the risk of this occurring. If you leave your card in an ATM, you should call us immediately on 1300 228 228.

g. Where you make a BPAY Payment, you indemnify us against any loss or damage we may suffer due to any claim, demand or action of any kind brought against us arising directly or indirectly because you did not observe any of your obligations these Terms & Conditions or acted negligently or fraudulently under this agreement except to the extent that the loss is cause by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

h. If you notify us that a BPAY Payment made from your account is unauthorised, you must provide us with a written consent addressed to the Biller who received that BPAY Payment allowing us to obtain information about your account with that Biller as is reasonably required to investigate the payment. If you did not give us that consent, the Biller may not be permitted under law to disclose to us the information we need to investigate or rectify that BPAY Payment.

i. Notwithstanding any of the above provisions your liability will not exceed your liability under the ePayments Code.

j. We will accept and investigate a report of an unauthorised transaction if it is received within 6 years from the day that you first become aware or should reasonably have become aware of the unauthorised transaction.

40.9 Reversals and Chargebacks

No chargebacks or reversals will be provided through the BPAY scheme where you have a dispute with the Biller about any goods or services you may have agreed to acquire from the Biller including where the Merchant may have failed to deliver the goods and services to you.

40.10 Malfunction

a. You will not be responsible for any loss you suffer because the system(s) used to effect your electronic transaction accepted your instructions but failed to complete the electronic transaction.

b. In the event that there is a breakdown or interruption to any electronic system used to effect an electronic transaction and you should have been aware that the system was unavailable for use or malfunctioning, we will only be responsible for correcting errors in your account and refunding any fees or charges imposed on you as a result.

40.11 Consequential Damage

a. This clause does not apply to the extent that it is inconsistent with or contrary to any applicable law or code of practice to which we have subscribed. If those laws would make this clause illegal, void or unenforceable or impose an obligation or liability which is prohibited by those laws or that code, this clause is to be read as if it were varied to the extent necessary to comply with those laws or that code, if necessary, omitted.

b. We are not liable for any consequential loss or damage you suffer as a result of using BPAY other than loss due to our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents), or in relation to any breach of a condition or warranty implied by the law of contracts for the supply of goods and services which may not be excluded, restricted or modified at all, or only to a limited extent.

40.12 Resolving Errors on Account Statements

a. All electronic transactions and applicable fees will be recorded on the account statements of the account to which they are debited.

b. You should check all entries on your account statements carefully.

c. If you believe an electronic transaction entered on your statement is wrong or was not authorised by you, contact us immediately and give the following details:

• your name, account number and card number (if any);
• the date and amount of the electronic transaction in question;
• the date of the account statement in which the payment in question first appeared; and
• a brief and clear explanation of why you believe the payment is unauthorised or an error.

40.13 Transaction Recording

a. It is recommended that you record all receipt numbers issued in respect to BPAY Payments to assist in checking transactions against your statements. We recommend you record the receipt numbers on the relevant bills.

40.14 Privacy

a. In regards to BPAY we collect personal information about you for the purposes of processing your BPAY Payments. If you use BPAY, we may disclose your personal and transactional information to other participants in BPAY in order to execute your instructions, including:

i. Billers nominated by you;

ii. BPAY Pty Ltd and any agent appointed to it from time to time, including Cardlink Services Limited who provides the electronic systems to implement BPAY; and

iii. CUSCAL (Credit Union Services of Australia Ltd).

b. If your personal information is not disclosed to BPAY Pty Ltd or its agent, it will not be possible to process your BPAY Payment.

c. You may have access to the personal information we hold about you at any time by asking us, or to any of the personal information held by any of the parties in clause 40.14(a) by contacting them. 

d. You must notify us if any of your personal information changes and you consent to us disclosing your updated personal information to the parties in clause 40.14(a).

41. Osko Payments

a. BCU Bank subscribes to Osko.

b. We will advise you if we are no longer a subscriber to Osko.

c. Osko allows you to make or receive Osko Payments in near real-time. We will advise you if for any reason we are no longer able to transfer funds using Osko.

d. When you request us to make an Osko Payment, you must provide us with:

i. the payee’s name;

ii. the payee’s account number;

iii. the BSB of the financial institution where the payee’s account is held; and

iv. the amount that you require to be transferred.

Alternatively, if available, you may provide us with the PayID supplied by the payee.

e. You acknowledge that we are not required to effect an Osko Payment if you do not give us all of the information specified in clause 39(d), or if the information you give us is inaccurate.

f. We will debit the value of each Osko Payment and any applicable fees to the account from which the relevant transfer has been made.

g. You acknowledge that Osko Payments may only be made to accounts within BCU Bank or other Osko participating financial institutions.

41.1 Processing of Osko Payments

a. An Osko Payment instruction is irrevocable. Once you have instructed us to make an Osko Payment, that Osko Payment cannot be stopped or reversed.

b. We will treat your Osko Payment instruction as valid if, when you give it to us, you use the correct Access Method.

c. Osko Payment instructions may be lodged 24 hours a day, 7 days a week using Online Banking Services or the BCU Bank App.

d. You acknowledge that completed instructions to transfer funds from your BCU account will result in the amount of the Osko Payment being immediately deducted from your account.

e. Funds are deposited to the recipient’s account in near real time. This will be the case irrespective of the time of day at which the Osko Payment instruction is made, and whether or not the Osko Payment instruction is made on a Banking Business Day.

f. If there are insufficient available funds in your account to make the Osko Payment, your instructions will not be accepted.

g. You should notify us immediately if you think that you have made a mistake when instructing an Osko Payment or if you did not authorise an Osko Payment that has been made from your account.

h. If we are advised that your Osko Payment cannot be processed by the recipient’s financial institution, we will:

i. credit your account with the amount of the Osko Payment; and

ii. advise you of this.

42. Pay To Services

a. BCU Bank subscribes to the Pay To Services

b. We will advise you if we are no longer a subscriber to the Pay to Services.

42.1 Creating a Pay To Payment Agreement

a. Pay To Service allows you to establish and authorise Payment Agreements with Merchants or Payment Initiators who offer Pay To Services as a payment option.

b. If you elect to establish a Payment Agreement with a Merchant or Payment Initiator that offers a Pay To Service, you will be required to provide the Merchant or Payment Initiator with your personal information:

i. BSB number and account number;
ii. your Pay ID.

You are responsible for ensuring the correctness of the Account and BSB numbers and/or the Pay ID that you provide for the purpose of establishing a Payment Agreement. Any personal information or data you provide to a Merchant or Payment Initiator will be subject to the privacy policy and the terms and conditions of the relevant Merchant or Payment Initiator.

c. Payment Agreements must be recorded in the Mandate Management Service order for NPP Payments to be processed in accordance with the Payment Agreements. The relevant Merchant or Payment Initiator is responsible for creating and submitting a record of each Payment Agreement to their financial institution or payments processor for inclusion in the Mandate Management Service. The Mandate Management Service will notify us of the creation of any Payment Agreement established using your Account number/BSB or PayID details. We will deliver a notification of the creation of the Payment Agreement to you by email, unless you have nominated SMS as your preferred communication method, and provide details of:

i. the Merchant or Payment Initiator named in the Payment Agreement; and

ii. the payment amount and frequency (if provided).

These details are provided to seek your confirmation of the Payment Agreement. You may confirm or decline any Payment Agreement presented to you for your confirmation via iBank, calling our Contact Centre on 1300 228 228 or visiting a BCU Bank branch.

If you confirm, we will record your confirmation against the record of the Payment Agreement in the Mandate Management Service and the Payment Agreement will then be deemed to be effective.

If you decline, we will note that against the Payment Agreement in the Mandate Management System.

d. We will process payment instructions (in connection with a Payment Agreement) received from the relevant Merchant or Payment Initiator’s financial institution, only if you have confirmed the associated Payment Agreement. Payment instructions may be submitted to us for processing immediately after you have confirmed the Payment Agreement, and it is your responsibility to check that the details of the Payment Agreement are correct before you confirm them. We will not be liable to you, or any other party for any loss suffered as a result of us processing a payment instruction under a Payment Agreement that you have confirmed, except to the extent that the loss is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

e. If a Payment Agreement requires your confirmation within a timeframe stipulated by the relevant Merchant or Payment Initiator, and you do not provide us with your confirmation within that timeframe, then the Payment Agreement may be withdrawn by the relevant Merchant or Payment Initiator.

f. If you believe that the payment amount or frequency or any other detail in the relevant Payment is incorrect, then you can decline the Payment Agreement and contact the relevant Merchant or Payment Initiator and have them amend and then resubmit the Payment Agreement for confirmation.

42.2 Amending a Payment Agreement

a. Your Payment Agreement may be amended by the relevant Merchant or Payment Initiator from time to time, or by us on your instruction.

b. We will send you notification/s of proposed amendments to the payment terms of the Payment Agreement requested by the Merchant or Payment Initiator which may include:

i. variation of the payment amount, where that is specified in the Payment Agreement as a fixed amount; or

ii. the payment frequency.

The Mandate Management Service will notify us of the requested amendments. We will deliver a notification of the requested amendments to you by email unless you have nominated SMS as your preferred communication method. You may approve or decline any amendment request presented for your approval.

If you approve, we will then record your approval against the record of the Payment Agreement in the Mandate Management Service and the amendment will then be deemed effective.

If you decline, the amendment will not be made. A declined amendment request will not otherwise effect the Payment Agreement.

c. Amendment requests which are not approved or declined by you within 5 calendar days of them being sent to you will expire. If you do not approve or decline the amendment request within 5 calendar days, the amendment request will be deemed to have been declined by you.

d. If you decline the amendment request because it does not reflect the updated terms of the Payment Agreement that you have with the relevant Merchant or Payment Initiator, you should contact them and have them resubmit the amendment request with the correct details. We are not authorised to vary the details in an amendment request submitted by the Merchant or Payment Initiator.

e. Once a Payment Agreement has been established, you may instruct us to amend your name or your Account details in the Payment Agreement only. Account details may only be replaced with the BSB and account number of an account you hold with us. If you wish to amend the Account details to refer to an account with another financial institution, you may give us a transfer instruction (See clause 42.4). We may decline to act on your instruction to amend your Payment Agreement if we are not reasonably satisfied that your request is legitimate or it is not the result of misuse, fraud or any other inappropriate use, you cannot ask us to amend the details of the Merchant or Payment Initiator, or another party to a Payment Agreement.

42.3 Pausing your Payment Agreement

a. You may instruct us to pause and later to resume your Payment Agreement by contacting us by calling our Contact Centre on 1300 228 228 or visiting any BCU Bank branch. We will act on your valid instructions to pause or resume your Payment Agreement promptly by updating the record of the Payment Agreement in the Mandate Management Service. The Mandate Management Service will notify the Merchant’s or Payment Initiator’s financial institution or payment processor of the pause or resumption of your Payment Agreement.

b. During the period the Payment Agreement is paused we will not process any payment instructions in connection with it.

c. We are not liable to you, or any other party, for any loss or damage which you or that other party may suffer as a result of pausing resumption of a Payment Agreement between you and the relevant Merchant or Payment Initiator, except to the extent that the loss or damage is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

Merchants and Payment Initiators may also pause and resume their Payment Agreements. If the Merchant or Payment Initiator pauses a Payment Agreement to which you are a party, we will deliver a notification of that, and any subsequent resumptions to you by email, unless you have nominated SMS as your preferred communication method. We are not liable to you, or any other party, for any loss or damage which you or that other party may suffer as a result of the pausing or resumption of a Payment Agreement by the Merchant or Payment Initiator, except to the extent that the loss or damage is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

42.4 Cancelling your Payment Agreement

a. You may instruct us to cancel a Payment Agreement on your behalf by calling our Contact Centre on 1300 228 228 or visiting any BCU Bank branch. We will act on your instruction promptly by updating the Payment Agreement in the Mandate Management Service. The Mandate Management Service will notify the Merchant’s or Payment Initiator’s financial institution or payment processor of the cancellation. You will be solely liable for any loss or damage that you or any other party may suffer as a result of our cancellation of a Payment Agreement between you and the relevant Merchant or Payment Initiator, except to the extent that the loss or damage is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

Merchants and Payment Initiators may also cancel Payment Agreements. If a Merchant or Payment Initiator cancels a Payment Agreement to which you are a party, we will promptly notify you of that cancellation by secure email, unless you have nominated SMS as your preferred communication method. We are not liable to you, or any other party for any loss or damage which you or that party other party may suffer as a result of the cancellation of your Payment Agreement by the Merchant or Payment Initiator, except to the extent that the loss or damage is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

42.5 Migration of Direct Debit arrangements (DDR)

a. Merchants and Payment Initiators who have existing Direct Debit arrangements with their customer may establish Payment Agreement for these, each a Migrated DDR Mandate, in order to process future payments under those arrangements via the NPP rather than via BECS. If you have an existing Direct Debit arrangement with a Merchant or Payment Initiator, you may be notified by them that future payments will be processed from your Account under the Mandated Payment Service. You are entitled to prior written notice of this variation of you Direct Debit arrangement, as specified in your Direct Debit Service Agreement, from the Merchant or Payment Initiator. If you do not consent to the variation of the Direct Debit arrangement you must advise the Merchant or Payment Initiator. We are not obliged to, nor will we provide notice of a Migrated DDR Mandate to you. We will process valid instructions received from a Merchant or Payment Initiator on the basis of a Migrated DDR Mandate.

b. You may amend, pause (and resume), cancel or transfer your Migrated DDR mandates, or receive notice of amendment, pausing or resumption, or cancellation initiated by the Merchant or Payment Initiator, in the manner described in clause 42.2, 42.3 42.4 and 42.5.

42.6 General

Your responsibilities

a. You must ensure that you carefully consider any Payment Agreement creation request, or amendment request made in respect of your Payment Agreement(s) or Migrated DDR Mandates and promptly respond to such requests.

b. You must notify us immediately if you no longer hold or have authority to operate the Account from which payments under a Payment Agreement or Migrated DDR Mandate have been/will be made. 

c. You must promptly respond to any notification that you receive from us regarding any misuse, fraud, a security reason or any other inappropriate use with respect to a Payment Agreement or Migrated DDR Mandate including in relation to the pausing or cancellation of same.

d. You are responsible for ensuring that you comply with the terms of any Payment Agreement that you have with a Merchant or Payment Initiator, including any termination notice periods.

e. You are responsible for ensuring that you have sufficient funds in your Account to meet the requirements of all your Payment Agreements and Migrated DDR Mandates. The terms of Clause 14 (Overdrawn Accounts) and Clause 35 (Direct Entry) will apply in relation to circumstances where there are insufficient funds in your Account.

f. If you receive a Payment Agreement creation request or become aware of payment being processed from your Account that you are not expecting, or if you notice any other Account activity that appears suspicious or incorrect, you must report such activity to us immediately by calling our Contact Centre on 1300 228 228 or visiting any BCU Bank branch.

g. If you become aware of a payment being made from your Account, that is not permitted under the terms of a Payment Agreement and/or a Migrated DDR Mandate or that was not authorised by you, you must contact us immediately by calling our Contact Centre on 1300 228 228 or visiting any BCU Bank branch and submitting a claim. We will respond to all claims within 10 Banking Business Days and if the claim is founded, we will refund your Account. We will not be liable to you or any other party for any payment made that was in fact authorised by the terms of your Payment Agreement and/or Migrated DDR Mandate.

h. From time to time you may receive a notification from us by email, unless you have nominated SMS as your preferred communication method, requiring you to confirm all of your Payment Agreements and/or Migrated DDR Mandates are accurate and up to date. You must promptly respond to any such notification. Failure to respond may result in us pausing the payment(s) or Migrated DDR Mandate/s.

i. If you use a smartphone to do your banking, we recommend that you allow notifications from the iBank to your smartphone to ensure that you’re able to receive and respond to Payment Agreement creation request, amendment requests and other notifications in a timely way.

j. Use of the banking facilities that we provide to you in connection with establishing and managing your Payment Agreement and Migrated DDR Mandates are required to meet regulatory and compliance obligations under laws in Australia.
You are responsible for ensuring and you warrant that:

i. all data you provide to us or to any Merchant or Payment Initiator is accurate and up to date;

ii. you do not use the Pay To Service to send threatening, harassing or offensive messages to a Merchant, Payment Initiator or any other party;

iii. Any password/PIN needed to access the banking facilities that we provide to you are kept confidential and must not be disclosed to any other party.

k. We may terminate these Terms & Conditions at any time:

i. If we have reasonable grounds to believe that your account is being used in connection with fraud, misuse or for any other inappropriate use;

ii. If you notify us that your Account with us has been cancelled;

iii. If you cease to be a member of BCU Bank;

iv. For security reasons; or

v. If we have reasonable grounds to believe that there is a material risk of loss to you or us.

We are not liable to you, or any other party for any loss or damage which you , or any other party may suffer as a result of you complying with or not complying (including but not limited to your obligations set out in this clause) with respect to any Payment Agreement and/or Migrated DDR Mandate, except to the extent that the loss is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

Our responsibilities

a. We will accurately reflect all information you provide to us in connection with a Payment Agreement and/or a Migrated DDR Mandate in the Mandate Management Service.

b. We may monitor your Payment Agreements and/or Migrated DDR Mandates for misuse, fraud, security reasons or any other inappropriate use. You acknowledge and consent to us pausing or cancelling all or some of your Payment Agreement/s or Migrated DDR Mandate/s if we reasonably suspect misuse, fraud, security issues or any other inappropriate use. We will promptly notify you by email, unless you have nominated SMS as your preferred communication method, of any such action to pause or cancel your Payment Agreement.

42.7 Privacy

By confirming a Payment Agreement and/or permitting the creation of a Migrated DDR Mandate against your Account with us, you acknowledge that you authorise us to collect, use and store your name and account details (among other personal information) and the details of your Payment Agreement/s and Migrated DDR Mandate/s in the Mandate Management Service, and that these details may be disclosed to the financial institution or payment processor for the Merchant or Payment Initiator, for the purposes of creating payment instructions and constructing NPP Payment messages and enabling us to make payments from your Account.

43. What to do if the Security of your Access Method has been Compromised or there is an Unauthorised Transaction

If you suspect your code has become known to an unauthorised user or a card has been lost, stolen or used without authorisation, or there has been an unauthorised transaction on your account, you must immediately call BCU Bank on 1300 228 228 and advise us of the relevant details of the loss, theft or unauthorised use. We will then cancel the code or card and arrange for a replacement code and/or card.

It is important that you advise us of these details as soon as possible after you become aware of them as otherwise you may have to bear the loss arising from any unauthorised transactions on your accounts.

44. Financial Difficulty

You should always contact BCU promptly if you are ever in financial difficulty, especially if you are repaying a loan or have a line of credit facility with BCU Bank. In certain circumstances, the law states that BCU Bank must take reasonable steps to assist you if you are finding it difficult to repay a loan. For example, BCU Bank may permit you to reduce your repayments and increase the term of your loan. Even if you are only experiencing temporary difficulties, BCU may be able to reduce your repayments or give you a payment free period until you have resolved your financial difficulties.

45. Miscellaneous

a. When you ask, we will give you general information about the rights and obligations that may arise out of your relationship with BCU Bank. This is information which, as a subscriber to the Customer Owned Banking Code of Practice, we have agreed to make available to you.

b. You agree that you will promptly notify us of any change of address.

c. Where BCU Bank is required to meet regulatory and compliance obligations under laws in Australia, it may collect additional information, monitor transactions and delay, block or refuse to provide a service to you. BCU Bank will accept no liability for any loss you may incur as a result of it meeting its regulatory and compliance obligations.

d. We may exercise any right, remedy or power in any way we choose. If we decide not to exercise a right, remedy or power, this does not mean we cannot exercise it later.

e. BCU Bank can close or suspend access to your account for any reason including if:

• BCU Bank has reasonable grounds to believe that your account is being used in connection with fraud;
• for security reasons; or
• BCU Bank has reasonable grounds to believe there is a risk of loss to you or us.