Savings Accounts. Supplementary Product Disclosure Statement

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1 Important... Savings Accounts Payment Services & Term Deposit Accounts As at 16 April 2010 Supplementary Product Disclosure Statement This PDS is current from 16 April 2010 and includes this document, its terms and conditions, our current Fees & Charges Brochure, and Interest Rate Brochure from time to time.

2 Your Qantas Staff Credit Union PDS. Your PDS provides information about Qantas Staff Credit Union Savings Accounts, Payment Services and Term Deposits to help you make an informed decision on whether to open an account with us. Your PDS includes: > > Product Summaries: pages 4-17; > > General Information: pages 17-28; > > Terms and Conditions: page 29 onwards; > > Fees and Charges Brochure - setting out costs related to each product; > > Interest Rate Brochure - listing current interest rates for savings accounts and investment products. The Fees and Charges Brochure and Interest Rate Brochure are separate documents which form part of your PDS. Statement of Advice If we give you personal advice on term deposits/ investment accounts, then you will receive a Statement of Advice which sets out the information you have given us about your circumstances and needs and the advice we have given you on the product. Financial Services Guide For information on our full range of products and services, see our Financial Services Guide (FSG). Details on our rules, constitution and how to join are available on request. Membership of the Qantas Staff Credit Union Qantas Staff Credit Union s (QSCU s) products and services are generally only available to Members. Membership eligibility and conditions of Membership are governed by QSCU s Constitution, which is available at or can be inspected by arrangement at the Head Office of QSCU. Savings Accounts and Payment Services Savings Accounts and Payment Services Product Summary Our basic savings account is called a Savings 0 (S0) account. This account is opened when you become a Member of QSCU. You can also choose from other savings accounts to suit your needs. The savings account features and benefits are set out in the following section. Below is a table summarising the differences between the various savings accounts. Account Types S0 S1, S2, S3 S9 Qsaver Account Features This is our standard savings account and all features and benefits apply. These accounts allow Members to open additional savings accounts. Most features and benefits apply, except Cheque Book and CueCard access. This is a mortgage linked overdraft account which has the same savings account features and benefits as a S0 account. This is our online savings account. Some access methods such as cheques, cards and direct debits are not available. Please refer to the Qsaver Supplementary Product Disclosure Statement for a product summary. Member Care Statement Please read your PDS and its Terms and Conditions carefully. Always retain a copy of all PDS documents for future reference. Each relevant provision of the Mutual Banking Code of Practice will apply to your account. The Electronic Funds Transfer Code of Conduct will also apply to all electronic funds transfer transactions to or from your account, such as using your debit card at ATMs and EFTPOS, Online Banking and Telephone Banking. Bonus Saver This is an online savings account that pays a bonus interest rate if certain conditions are met. Some access methods such as cheques and cards are not available. Please refer to the Bonus Saver Supplementary Product Disclosure Statement for a product summary. 2 3

3 Savings Account Features and Benefits QSCU s Savings Accounts provide you with the means to keep track of and enjoy access to your funds. The following features and benefits apply: > > Withdrawals can be made from all savings accounts (except Qsaver) at any Member Service Centre in cash (maximum $2,000.00) or by corporate cheque; > > Cheque Book access is available on S0 and S9 accounts; > > CueCard access is available on S0 and S9 accounts, except business accounts; > > VISA Debit Card access is available on all savings accounts, except business accounts, Qsaver and Bonus Saver (Visa Debit Card access may be restricted to accounts that have an approved overdraft at our discretion); > > Online Banking is available on all savings accounts; > > Telephone Banking is available on all savings accounts; > > SMS Banking is available on all savings accounts; > > BPAY bill payments can be made from all savings accounts; > > Periodical payments (autotransfers) can be made from all savings accounts; > > Direct Debits can be made from all savings accounts except Qsaver; > > Direct Credits can be made to all savings accounts; > > Payroll deductions from Qantas companies can be made to all savings accounts; > > Deposits can be made at Westpac for S0 and S9 accounts that have a Cheque Deposit Book; > > Deposits can be made at Australia Post for savings accounts that have a CueCard or Visa Debit Card; > > You can make transfers to other accounts within QSCU or to other financial institutions; > > You can link S0, S1, S2 and S3 accounts to a mortgage loan and obtain a 100% loan offset benefit against a mortgage loan for credit balances rather than having interest paid on the savings account; > > You will receive a transaction allowance per month to reduce any debit transaction fees. The transaction allowance is based on combined loan and deposit balances, refer to the Fees and Charges Brochure for more information; > > Interest is calculated on the daily credit balance and paid to your account monthly, except where a loan offset arrangement applies; > > Interest rates on all savings accounts are tiered based on the amount of the credit balance; > > Monthly or quarterly statements are available, savings accounts with an overdraft will receive monthly statements; > > You can check your account details or make payments via our secure web site or telephone banking 24 hours a day 7 days a week; > > There is no minimum amount to open or maintain any savings account, however you will be issued with 5 $2 shares that may be called upon in accordance with the constitution; > > You can cancel cheques or report lost or stolen cheques/ cheque books any time in writing, call if you require assistance; > > You can report lost or stolen CueCard or Visa Debit Cards by calling during business hours or hours; > > Maximum daily transaction limits of $1, for ATM and EFTPOS cash withdrawals and $2, for over the counter cash withdrawals apply to savings accounts with such access. > > Maximum daily transaction limits of $25, per transaction type for payments and transfers made using Online Banking and Telephone Banking. Payment Services Features and Benefits Our Payment Services provide a variety of ways that you can access your savings accounts. The types of Payment Services offered by QSCU and a brief description of their features and benefits are set out below. To determine whether a Payment Service is included in monthly debit transaction totals, please refer to the Fees and Charges Brochure. Please also refer to the General Information section of this PDS for a description of certain types of payment facilities. Account Transfers - You can make transfers from your savings account to other savings accounts within the same membership or to other accounts within QSCU or to other Australian financial institutions if you have the savings account details. See the Terms and Conditions for Savings Accounts and Other Payment Services for more information. 4 5

4 Automatic Teller Machines (ATM) - You can use an ATM to withdraw money from your savings accounts at any time if you have a CueCard or Visa Card and Personal Identification Number (PIN). Both cards can be used at all QSCU ATMs and other ATMs throughout Australia. Overseas, you can use your CueCard at ATMs displaying the Cirrus logo and Visa Cards at ATMs displaying the VISA logo. The maximum daily cash withdrawal from ATMs and EFTPOS is $1, per card per day. Non- QSCU ATMs may impose other limits. See the Terms and Conditions for Savings Accounts, CueCard and Visa Card for more information. Autotransfer (Periodical Payment) - You can make payments or transfers from your savings account to other institutions or suppliers on a regular basis. You need to fill out and lodge an authority form, which remains in force until it is cancelled. Once you set up an autotransfer you can view or modify details or delete/cancel the authority via Online Banking or in writing. See the Terms and Conditions for Savings Accounts and Other Payment Services for more information. BPAY - You can pay bills from your savings account to companies participating in BPAY and displaying the BPAY logo on their bills. The maximum daily limit for BPAY payments made using Online or Telephone Banking is $25, See the Terms and Conditions for Savings Accounts and Other Payment Services for more information. CueCard - You can use CueCard to access your S0 or S9 account to make withdrawals or purchase goods or services, via ATMs or EFTPOS. CueCards are available to account holders or signatories over the age of 12 years. CueCards are not available on business, company, association or trust accounts, Qsaver and Bonus Saver. See General Information and the Terms and Conditions for Savings Accounts and CueCard for more information. Direct Debit - You can authorise an institution or supplier to debit your savings account, except Qsaver, by giving them your written authorisation and providing them with BSB number plus your savings account number. See General Information and the Terms and Conditions for Savings Accounts and Other Payment Services for more information. Electronic Funds Transfer at Point of Sale (EFTPOS) - You can use EFTPOS to withdraw cash or purchase goods or services if you have a CueCard or Visa Card at suppliers that have EFTPOS facilities. The maximum cash withdrawal for ATMs and EFTPOS is $1, per card per day. Retailers may impose restrictions such as the minimum or maximum amounts for EFTPOS. Retailers may impose fees on credit transactions (i.e. where you select credit rather than savings for EFTPOS). See the Terms and Conditions for Savings Accounts, CueCard and Visa Card for more information. Member Cheque Facility - You can make payments from your S0 or S9 account using a cheque. Payments made by cheque are usually subject to clearance before the payee can use the funds. There is no limit for the amount of cheques, subject to the savings account containing sufficient cleared funds. You should only write a cheque if you have sufficient cleared funds in your savings account on the day you write the cheque to cover the amount of the cheque. We may pay or not pay a cheque, at our discretion, if you have insufficient cleared funds in your savings account. You can ask QSCU to stop payment on a cheque in writing prior to the cheque being paid. See the Terms and Conditions for Savings Accounts and Member Cheques and General Information for more information. Online Banking - You can use Online Banking to access information about our products and services and also to access your accounts. Online Banking allows you to undertake a range of transactions and enquiries. You can obtain account balances, transaction details and interest details. You can make account transfers within your membership or to other QSCU accounts or other Australian financial institutions and make BPAY payments. You can also view or modify autotransfers and future BPAY payments, change your access code, activate cards, send a secure to QSCU and request forms or applications. The maximum payment or transfer is $25, per transaction type per day. See the Terms and Conditions for Savings Accounts and Electronic Banking for more information. Telephone Banking - You can use Telephone Banking to access information about our products and services and also to access your accounts. Telephone Banking allows you to undertake a range of transactions and enquiries. You can obtain account balances, transaction details and interest details. You can make account transfers within your membership or to other QSCU accounts or other Australian financial institutions and make BPAY payments. You can also change your access codes and order a new member cheque book. The maximum payment or transfer is $25, per transaction type per day. See the Terms and Conditions for Savings Accounts and Electronic Banking for more information. Visa Card - You can use Visa Card on any savings account, except business accounts, Qsaver and Bonus Saver. 6 7

5 Visa Card access may be restricted to accounts with an approved overdraft at our discretion. You can use Visa Card to make withdrawals or purchase goods and services via ATM, EFTPOS and credit transactions, such as using the Visa Card and your signature, on the internet and over the telephone. Visa Cards are available to account holders and signatories over the age of 18 years. See General Information and the Terms and Conditions for Savings Accounts and Visa Card for more information. SMS Banking - You can use SMS banking to receive alerts about your accounts. Alerts include, direct credit alerts, direct debit alerts, low account balance alerts, high account balance alerts and scheduled balance alerts. As well you can request a balance enquiry, most recent transactions, most recent credit transactions, most recent debit transaction and interest earned/paid. See the SMS Banking Terms and Conditions for more information. Savings Account and Payment Services Risks and Safeguards There are a number of risks with using a savings account and non- cash payment facilities attached to a savings account, such as: > > At call savings accounts may earn lower interest than other forms of investments; > > Excess debit transactions and dishonoured transactions will incur fees; > > Access methods and/or access codes for facilities such as cheque books, CueCards, Visa Cards, Online Banking and Telephone Banking may be lost or stolen; > > Unauthorised persons may use your access methods and/ or codes to purchase goods and/or services or to make withdrawals or transfers, for example EFTPOS, ATM, Online Banking, Telephone Banking, BPAY or forged signatures (on cheques or Visa Card credit transactions); > > You may provide or enter incorrect details for or overpay payments (such as BPAY and cheques) or transfers (such as auto transfers (periodical payments)); > > Transactions may be debited more than once; > > You may have insufficient funds in your account to cover payments or transfers and a dishonour fee may be charged; > > If you do not use your account for at least 1 year it may be classified as dormant and dormant account fees may be charged; > > If you owe money to us, the credit balance of your savings account and Membership Shares can be used, without prior notice, to repay that money; > > The benefit of a loan offset arrangement may be reduced if the balance in the loan offset account exceeds the balance of the linked loan account. To safeguard and get the best out of your savings account: > > Transfer large balances not required for transactions into a Bonus Saver or term deposit to earn higher interest rates or obtain financial advice about other investments that will suit you > > Keep debit transactions to a minimum, use fee free transactions, or increase your transaction allowance, to avoid transaction fees > > Transfer large balances into an account that does not have card or cheque book access to reduce the risk of unauthorised transactions > > Ensure that you have sufficient cleared funds in your account to cover all payments and transfers or that you have an approved overdraft limit on the account with a sufficient available balance > > Use SMS Banking to receive alerts if large withdrawals are made from your accounts > > Protect your account access methods and codes, by keeping them in a safe place and memorising access codes > > Do not give access methods or disclose access codes to anyone else, including family and friends > > Do not choose access codes that are obvious, such as birth date, postcode, phone number or consecutive numbers > > Take care when entering details for payments and transfers and check them before submitting them > > Cross Member cheques Not Negotiable Account Payee Only, delete the words or bearer and add the words or order and do not leave any blank spaces when writing cheques > > Keep records or copies of all receipts > > Check all statements for unauthorised transactions, multiple debit transactions or errors and advise QSCU of any you find as soon as possible > > Advise QSCU immediately of lost or stolen cards, cheque books, access codes etc > > Advise QSCU immediately if you do not receive your debit card and PIN, Online Banking access code or Telephone Banking access code within 21 days of applying > > Make at least one deposit or withdrawal each year > > Advise us as soon as possible if your, or your signatory s, address or other relevant details change. 8 9

6 To apply for Savings Accounts and Payment Services To apply for a savings account or a payment service you can either phone our Member Contact Centre on or visit one of our Member Service Centres or go to our website Our staff will give or send to you the relevant forms and explain the application process. Fees & Charges We charge service fees applicable to our products and services including: > > debit transaction fees; > > fees for SMS Banking alerts; > > dishonour fees; > > fees for provision of additional statements and copies of documents; > > dormant account fees; > > telegraphic transfer, international bank draft and bank cheque fees; and > > fees for overseas emergency Visa Card replacement and/or cash advances. Further details of our fees and charges are set out in our Fees and Charges brochure (which forms part of this PDS). You can use your savings account without paying debit transaction fees if you keep within the free debit transaction allowance. Please refer to the Fees and Charges Brochure for an explanation of how we calculate the free transaction allowance and debit transaction fees. Changes to Fees & Charges and this PDS Fees and Charges are at the discretion of QSCU and may be changed at any time without your consent. If they are changed you will be given prior written notice of the change by personal letter, newsletter or account statement. If we introduce new fees and charges we will give you at least 30 days notice. Government Fees and Charges QSCU currently absorbs all government fees and charges on savings accounts. Interest Interest on savings accounts is calculated on the daily balance of the account and credited at the end of each month. Interest rates are tiered based on ranges of dollar amounts. Generally the higher the tier the higher the interest rate. For example: > > Daily balance $1, for the whole month in September Interest Rate: 1% Interest: $0.82 > > Daily balance $10, for the whole month in September Interest Rate: 2.5% Interest: $20.54 The examples above are indicative only and use rates and figures selected by us to demonstrate how the product works. Actual interest rates vary from time to time. The examples are based on a 30 day month, with the closing daily balance and interest rates remaining the same for the entire month. Note the calculations above include truncation of daily interest to the 2nd decimal place and the carry over to the next day of the remaining interest to the 12th decimal place. Interest changes are at the discretion of QSCU. We may change the interest rate, method of calculation or the frequency of interest payments without your consent. If they are changed you will be given notice of the change by personal letter, newsletter or account statement, or in the case of interest rate changes, in a newspaper. If we: > > change the method of interest calculation, we will give you at least 30 days notice; > > increase your obligation or reduce interest rates, we will notify you no later than the day we make the change; > > reduce your obligations or increase interest rates, we will notify you in our next contact with you after making the change. If your account is overdrawn interest will be charged on the overdrawn amount calculated on the closing daily balance and debited at the end of the month. QSCU will use the same interest rates on overdrawn amounts as the current interest rate for unsecured overdrafts from time to time. Current Interest Rates are available in our Interest Rate Brochure, from Member Service Centres, in newsletters or from our website

7 100% Loan Offset Savings Accounts with a 100% loan offset are not paid or credited interest when they have a credit balance. Instead the amount of interest on the linked QSCU mortgage loan is reduced by a loan offset benefit. The 100% loan offset benefit is calculated on the daily credit balance of the savings account and credited against the interest due on the linked mortgage loan at the end of each month For example: If the interest rate on your linked mortgage loan is 7.50% pa And the closing balance of your loan offset savings account for each day in February is $50, Then your loan offset benefit, credited against the interest due on your linked mortgage account on 28 February, would be calculated as follows: $50, x % = $10.35 x 28 (days) = $ (rounded off to nearest cent) The loan offset rate for Savings Accounts with a 100% loan offset is the same as the interest rate for the linked mortgage loan. Loan offset rates may change at the discretion of QSCU in the same way as Interest Rates. It is important to note that the maximum loan offset benefit you can receive is limited by the outstanding balance of your loan. This means that if the credit balance in your account is greater than the amount you owe on your loan, only your outstanding loan balance is taken in to account for the application of the offset rate, not the credit balance in your savings account. If you are in this situation you should consider placing funds in another account. Term Deposit Accounts Term Deposit Accounts Product Summary You can choose term deposits for 3, 6, 9, 12, 24 or 36 months. QSCU may offer other terms from time to time ( term deposit specials ). Please refer to the relevant Supplementary Product Disclosure Statement for conditions of term deposit specials. You can choose for interest to be paid monthly (for all terms), at maturity (for terms 12 months or less) or annually, and at maturity (for terms greater than 12 months). The minimum term deposit is $2,000 for 3 months and $5,000 for other terms. Term deposits over $1 million are subject to approval. At maturity of the deposit the principal and interest (if applicable) can be automatically renewed for the same or closest term (subject to availability) at the interest rate applicable at the time or can be credited to your QSCU savings account. Term Deposit Accounts Features and Benefits The following features and benefits apply: > > your interest rate is fixed for the term of the term deposit; > > no regular fees or charges are payable over the term of the term deposit; > > you can choose from the available terms, subject to minimum and maximum deposit amounts; > > you can choose the interest payment option that suits you: > > for terms 12 months or less, interest is available at maturity or monthly; and > > for terms greater than 12 months interest is available annually (& at maturity) or monthly; > > at maturity you can choose to renew the term deposit or have the balance of the term deposit credited to your QSCU savings account. Term Deposit Risks and Safeguards There are a number of risks with having a term deposit, such as: > > market interest rates may rise or fall over the term of the term deposit; 12 13

8 > > you cannot access the term deposits until expiry of the term, unless we approve an emergency withdrawal (partial early withdrawals will not be allowed), in which case an interest penalty of the greater of $10 or 2% per annum, calculated on the amount of the original deposit from the start of the current term until the date of the withdrawal, will apply; > > the amount of the term deposit can only be increased on maturity; and > > if you do not provide maturity instructions in your application form or prior to the maturity date, the Term Deposit will be renewed for a further term at the closest (shortest) standard or special term deposit rate available at maturity. Before you obtain or renew a term deposit account; > > obtain independent financial advice about whether a term deposit is the best investment for you; > > consider whether you may need access to your money prior to maturity to ensure that you select the appropriate term; and > > ensure that you provide maturity instructions prior to the maturity date, including for non-standard special term deposit rates. To apply for Term Deposit Accounts To apply for a term deposit account you can either phone our Member Contact Centre on or visit one of our Member Service Centres. Our staff will give or send to you the relevant form and explain the application process. Fees and Charges We do not charge any regular fees or charges on term deposits. For other fees and charges refer to our Fees and Charges Brochure (which forms part of this PDS). Emergency Withdrawals In an emergency or in the case of personal hardship, we may exercise our absolute discretion and allow you to withdraw your investment early (partial early withdrawals will not be allowed). A request for an emergency withdrawal must be made in the relevant form at least seven days before the funds are required. As an emergency withdrawal represents a change to your original agreement, if approved, an interest penalty will be incurred. The interest penalty will be the greater of $10 or 2% per annum, calculated on the amount of the original deposit from the start of the current term until the date of the withdrawal. In the event of the death of a term deposit holder, or any of the joint holders, before the maturity date, and if requested, we will pay both the principal and interest, without penalty, on completion of the normal legal requirements. Interest Interest on term deposit accounts is calculated on a daily basis and is fixed for the term of the deposit. Interest will be calculated from the date of lodgement of the Term Deposit, but will not be paid for the day on which the deposit matures. Interest payable monthly is paid to you each month on the date of the original deposit and at maturity. The amount of monthly interest will vary depending on the number of days in the month. This option is available on all term deposits, except where specified on term deposit specials. Interest payable at maturity is not paid until maturity of the term deposit. This option is not available on deposits with terms greater than 12 months. Interest payable annually is paid at the end of each 12 months and at maturity. If you select the annual interest option the interest earned is credited to your savings account and cannot be credited to the Term Deposit until maturity. This option is available on deposits with terms in excess of 12 months. Current Interest Rates are available in our Interest Rate Brochure, from Member Service Centres, in newsletters or from our website. For example: 4 month Term deposit of $10, from 1/03/209 to 1/07/2009 (total of 122 days), interest payable at maturity. Interest rate: 4.2% Interest: $ (interest is truncated daily, there is no carry over on the last day of the term). Tax Implications Interest earned on your savings accounts and term deposit accounts must be declared for income tax purposes. If you do not provide us with your tax file number, or quote an exemption, we will deduct tax from your interest earned at the highest personal income tax rate. Problems or Disputes If you have any questions, problems or disputes with the services we provide to you, we would like to hear about them

9 When you provide feedback to us, we have the opportunity to improve our services to you. You can contact us 24 hours a day, seven days a week from anywhere by: > > - log into Online Banking, select Other Functions from the menu and then select Send Secure Mail Message > > Fax > > Mail - Locked Bag 6747, Hurstville BC NSW 1481 Or you can contact us by telephone between 8 am and 5 pm Monday to Friday (excluding public holidays) on We will aim to resolve the matter when you first contact us. If we cannot resolve your issue there and then, we will commit to taking the following steps: 1. Let you know who is handling your complaint; 2. Keep you informed of what is happening; and 3. Aim to resolve your complaint within 21 days. If you make a complaint in writing or request a written response to your complaint, we will inform you of the outcome of the complaint in writing promptly. If the dispute is not resolved in a manner acceptable to you, we will explain the reasons for the outcome and the further action you can take. Please note, we comply with the Electronic Funds Transfer Code of Conduct and the Mutual Banking Code of Practice complaint investigation and resolution procedures in respect of those matters covered by those codes Unresolved Complaints If you are dissatisfied with the outcome, and you d like an independent review, you can refer your complaint to the Credit Ombudsman Service Limited at: > > Mail - P.O. Box A252 Sydney South, NSW 1235; > > Phone ; > > Fax - (02) ; or > > Website - For further information on solving problems or disputes, please call us on or ask at any Member Service Centre for our Dispute Resolution Brochure. Privacy and Confidentiality Our Privacy Policy explains our commitment to the protection of your personal information. You may obtain a copy of our Privacy Policy by: > > Going to Our Privacy Policy on our web site at com.au; > > Calling ; > > Asking at any of our Member Service Centres. In addition to QSCU s duties under legislation, we have a general duty of confidentiality towards you, except in the following circumstances: > > Where disclosure is compelled by law; > > Where there is a duty to the public to disclose; > > Where the interests of QSCU require disclosure; > > Where disclosure is made with your express or implied consent. QSCU Details These accounts are provided by: > > Qantas Staff Credit Union Limited ABN AFSL No Address 420 Forest Road, Hurstville NSW 2220 For further information please contact us at any of the following : > > Phone > > - log on to Online Banking, select Other functions and select Send a Secure Message > > Fax > > Mail - Locked Bag 6747, Hurstville BC NSW 1481 Terms and Conditions and General Information 1. General Information page 19 General information about your account, your member cheque facility, direct debits, recurring payments and chargebacks is contained in Schedule 1, which forms part of this statement. Please read this information carefully as it is designed, in part, to help you and us protect your account from unauthorised or fraudulent transactions. 2. Savings Accounts Terms and Conditions page 29 The terms and conditions applying to your savings account are contained in Schedule 2, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part to help you and us protect your account from fraudulent transactions

10 3. Member Cheque Facility Terms and Conditions page 37 The terms and conditions applying to your cheque facility are contained in Schedule 3, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part to help you and us protect your account from fraudulent transactions. 4. CueCard Conditions of Use page 40 The conditions of use applying to your use of your CueCard are contained in Schedule 4, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part, to help you and us protect your account from unauthorised or fraudulent transactions. 5. Visa Card Conditions of Use page 51 The conditions of use applying to your use of your Visa card are contained in Schedule 5, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part, to help you and us protect your account from unauthorised or fraudulent transactions. 6. Electronic Banking (including online and telephone banking) Terms and Conditions and Conditions of Use page 64 The terms and conditions of use applying to your use of Electronic Banking, including online and telephone banking, are contained in Schedule 6, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part, to help you and us protect your account from fraudulent transactions. 7. Other Payment Service Terms and Conditions page 74 The terms and conditions of use applying to your use of other payment services, such as BPAY, periodical payment (autotransfer) and direct debit are contained in Schedule 7, which forms part of this statement. Please read the terms and conditions carefully as they are designed, in part, to help you and us protect your account from fraudulent transactions. 8. Term Deposit Accounts Terms and Conditions page 76 The terms and conditions of use applying to your use of your Term Deposit Account are contained in Schedule 8, which forms part of this statement. Please read the terms and conditions carefully. Schedule 1 General Information - Mutual Banking Code of Practice We are subject to the Mutual Banking Code of Practice. This means that each relevant provision of the Mutual Banking Code of Practice will apply to your accounts. This schedule provides general descriptive information about: > > Your account with us; > > Your member chequing facility; and > > Identification requirements. Your Account With Us Membership - Membership of QSCU is available to current and former employee of companies within the Qantas Group of Companies, Associated companies and their immediate families. Refer to our Member Service Centres or our website for a full listing of companies. You can apply for membership over the counter at any of our Member Service Centres. You will be required to purchase membership shares ($10) in QSCU. If you cease to be a member you will receive the money back. Account Name - The law does not allow you to open or maintain an account using a false name. However, if you are commonly known by more than one name, you can open an account in one of those names. You must advise us of all the other names that you use and are known by. The same rules apply to becoming a signatory to an existing account. If you change your name, for example upon marriage, you will need to show us evidence of the change of name, for example a marriage certificate. We will give you guidance with the procedure to change the name of your account. Identification - QSCU and all other financial institutions must apply procedures to prove your identity when you: > > open a new account; > > become a signatory to an account; or > > become a supplementary cardholder. On these occasions, we will need to complete a full check of your identity. Refer to the section below on identification requirements

11 Tax File Numbers - You are not required to quote your tax file number when you open an account however, under the law, if you choose not to provide your tax file number, we must deduct withholding tax on any interest you earn on the account. The government sets the withholding tax rate and may vary it at any time. The deduction of withholding tax will form part of your normal income tax, just as when your employer deducts tax from your salary or wages. When you fill out your tax return, including your interest earned along with your regular income, you can claim the withholding tax paid on the interest as tax already paid together with the tax your employer deducts from your salary or wages. If you give your tax file number, we will not deduct any withholding tax on any interest that you earn on your account. However, you will still be required to disclose any interest you earn on the account as income when you complete your tax return at the end of the financial year. Joint Accounts - A joint account is an account in the name of more than one person. If you open a joint account with another person, you will be jointly liable for any money that you or the other person(s) owes on the account. You will be required to complete an authority to operate which sets out whether any one of the parties to the joint account can withdraw from the account. Terms and Conditions - We have terms and conditions governing your savings accounts, payment services, term deposits and loans. You should always read these terms and conditions before opening the account or taking out the loan. The terms and conditions set out your rights and obligations. It is important that you understand these rights and obligations. We will give you terms and conditions when you open a membership or take out a loan. Account Combination or Set Off - In certain circumstances, we may have the right to use any credit balance in any savings account you have with us and Membership Shares to repay any debt that you owe us. You should check the terms and conditions of your account to see if we reserve the right to do this. However, even if we do not reserve the right in the terms and conditions of your account, the law sometimes permits us to do it anyway. We will give you a notice promptly after exercising any right we have to combine your accounts. QSCU Corporate Cheques - One of the ways you can withdraw funds from your account is by asking us to issue a corporate cheque. We will advise you if we charge a fee for issuing a corporate cheque. If you lose a corporate cheque or somebody steals it, you can ask us to stop payment on the corporate cheque. You will need to provide evidence of the loss or theft of the cheque. You may also have to give us an indemnity, the indemnity protects us if someone else claims that we wrongfully stopped the cheque. We will not stop payment on a corporate cheque if you use the cheque to buy goods or services and you are not happy with them. You must seek compensation or a refund directly from the provider of the goods or services. You should contact your Government Consumer Agency if you need help. Supplementary Cards - If you have a debit card with us, you may ask us to issue an additional card to someone else. The additional card is usually called a supplementary card. The supplementary cardholder must be a signatory on the account. We will only issue a supplementary Visa debit card to a person who is over the age of 18 years. A supplementary CueCard can be issued to persons over 12 years of age if there are no credit facilities attached to the account, otherwise these cards are restricted to persons over 18 years of age. Giving somebody a subsidiary card gives the person access to the money in your account and access to your overdraft limit, if any. You will be liable for any money that the supplementary cardholder withdraws from your account using the supplementary card. You may always cancel a supplementary card by giving written notice to us. However, you remain liable for any money that the supplementary cardholder withdraws using the supplementary card even after you cancel the card. You must surrender the supplementary card to us before the cancellation is effective. You should read the terms and conditions of your debit card. The terms and conditions will explain your rights and obligations in relation to any supplementary card. It will also explain the nature of your liability for any money that the supplementary cardholder withdraws using the supplementary card. Direct Debits and Recurring Payments - A direct debit is a convenient and efficient method for making a variety of payments but is usually best suited to small to medium recurring payments of a fixed amount, such as insurance premiums. It can also be a convenient way to make payments of variable amounts, such as telephone or 20 21

12 electricity charges. Care should be taken before giving a direct debit authority for unpredictable expenses, or for amounts that can vary significantly. You will usually give a direct debit authority to a merchant, which permits them to directly debit your nominated account with us in payment for goods and services. The direct debit can also be linked to a credit or debit card. You should always review your bank or credit card statements to ensure that the merchant is debiting your account in accordance with your authority. You can cancel a direct debit authority that is linked to any account with us and we will promptly forward your cancellation instruction to the merchant s sponsor Financial Institution, which must then arrange for your merchant to cancel the direct debit. We will assist you to resolve complaints about unauthorised payments debited to a scheme credit or debit card account, including where possible, assisting you to seek a chargeback. Chargebacks - A chargeback is a right that we exercise on behalf of a Member holding a credit or debit card (the cardholder). It is a right to charge back responsibility for a credit (or debit) card transaction from the cardholder s financial institution to the merchant s financial institution. If you dispute a credit or debit card transaction we will promptly claim a chargeback right on your behalf where one exists. However, to enable us to do this you must dispute the transaction to us within the required time frame. You should notify us immediately you become aware of an unauthorised transaction on your credit or debit card. Account switching - Account switching makes it easier for you to switch your account from one financial institution to another. Both your old financial institution and your new financial institution will assist you in re-establishing your direct debit and credit arrangements from one account to the other. On the other hand, you may want to make the necessary arrangements. You can ask your old financial institution to issue you with a list of regular payments ( credits and debits ) to and from your old account. It should list all your regular payments, as well as periodical payments, over the previous 13 months. Your old financial institution will also assist you to identify any recurring payments linked to a debit or credit card and any pay anyone payments made using internet banking. You can then ask your new financial institution to assist you to update your recurring payments to your new account. This will include a switching service that allows you to complete change of account letters to provide to the organisations with which you have regular payments. You can also request the new financial institution to notify the relevant billing and crediting organisations. In such cases, your new financial institution will advise the financial institutions of the relevant debiting and crediting organisations of your new account details within three business days. Financial Difficulty - You should always contact us promptly if you are ever in financial difficulty, especially if you are repaying a loan or have an overdraft account with us. In certain circumstances, the law says that we must take reasonable steps to assist you if you are finding it difficult to repay a loan. For example, we may permit you to reduce your repayments and increase the term of your loan. Even if you are only experiencing temporary difficulties, we may be able to reduce your repayment or give you a payment free period until you get back on your feet. Confidentiality of your personal details - Apart from any duty of confidentiality under legislation, we have a general duty of confidentiality towards you except where: > > disclosure is required by law; > > there is a duty to the public to disclose; > > our interests require disclosure; or > > disclosure is made with your express or implied consent. Subject to that, we may not disclose information about you to another person without your consent. We may disclose information about you to a related entity where: > > the information is necessary to enable an assessment to be made of your total liabilities to us and to the related entity; and > > the related entity provides financial services which are related or ancillary to those we provide, unless you tell us not to do so. Let us know if you do not wish to disclose information about you to a related entity providing related financial services. Please refer to our Privacy brochure. Correction of member information - We will provide you, on request with, information about you which is readily accessible to us and which may lawfully be provided. The information we are required to provide is limited to our record of your address, occupation, marital status, age, sex, accounts with us and balances and statements relating to those accounts. This is called Member Information

13 We need not comply with your request unless you have identified, as clearly as possible, the Member Information requested. We may charge you a fee for our reasonable costs of supplying Member Information. Refer to our fees and charges brochure. You may request the correction of your Member Information. If we are satisfied that the relevant information is incorrect, we will make the requested correction. We will deal with your request for access to Member Information, or request for its correction within a reasonable time. Please refer to our Privacy Brochure. Your personal information - We will not collect information about you by unlawful means. We will not collect, use or disseminate information about your: > > political, social or religious beliefs or affiliations; > > race, ethnic origins or national origins; or > > sexual preferences or practices; except to collect, use or disseminate this information in accordance with the Mutual Banking Code of Practice and National Privacy Principles. We will take reasonable steps to protect personal information we hold about you against loss and against access, use, modification or disclosure that is unauthorised. We will require all staff with access to your personal information to maintain confidentiality concerning that information. We will comply with the requirements of the National Privacy Principles and any Credit Reporting Code of Conduct issued by the Privacy Commissioner under the Privacy Act (Cth). Please refer to our Privacy brochure. What to do if you have a complaint - Please refer to the Problems and Disputes section of our PDS, the Complaint section of our FSG or our Dispute Resolution brochure, which contain information relating to the dispute resolution procedures we have put in place. These are available from our Member Services Centres or by calling Information is also available on our website, Your Member Cheque Facility This information tells you about some of the rights and obligations of you and us. It does not state the terms and conditions of your member chequing facility. This information does not apply to the cheque we give you when withdrawing funds from your account. How long does it take to clear a cheque? When you deposit a cheque to your account it may take up to 5 business days to clear (7 business days for cheques deposited using Bank at Post/Australia Post). During this period you will NOT be able to withdraw any of the proceeds of that cheque. Crossing a cheque If you cross a cheque, it is a direction to your financial institution to pay the cheque into an account at a bank or other financial institution. A crossing does not actually prevent the cheque being negotiated or transferred to a third party before presentation to a bank or financial institution for payment. Crossing a cheque means drawing 2 lines clearly across the face of the cheque as shown below. When you cross a cheque or add the words not negotiable between the crossing you may be able to protect yourself, but not always, against theft or fraud. Example of Not Negotiable crossing: This crossing sometimes serves as a warning to the collecting financial institution, if there are other special circumstances that it should inquire if its customer has good title to the cheque. All QSCU Member cheques are preprinted with a Not Negotiable crossing to give you added protection. When you add the words account payee only between these lines you are saying that only the named person can collect the proceeds of the cheque. This may give you 24 25

14 better protection against theft or fraud. It would be prudent for the collecting financial institution to make inquiries of the customer paying the cheque in, if the customer is not the payee of the cheque. Example of Account Payee crossing: Deleting or Bearer on the Cheque - Your preprinted cheque forms have the words or bearer after the space where you write the name of the person to whom you are paying the cheque. The cheque is a bearer cheque. If you cross out the words or bearer and do not add the words or order, the cheque is still a bearer cheque. You can give yourself more protection against theft or fraud by crossing out the words or bearer and adding the words or order. Stopping payment on a cheque - You can stop payment on a cheque by writing to us with sufficient particulars to identify the cheque. Verbal requests cannot be actioned unless immediately confirmed in writing. You must, of course, do this before we have paid the cheque. Reducing the risk of forgery - When completing a cheque: > > start the name of the person to whom you are paying the cheque as close as possible to the word Pay ; > > draw a line from the end of the person s name to the beginning of the printing words or bearer ; > > start the amount in words with a capital letter as close as possible to the words The sum of and do not leave blank spaces large enough for any other words to be inserted; also add the word only after the amount in words; > > draw a line from the end of the amount in words to the printed $ ; > > start the amount in numbers close after the printed $ and avoid any spaces between the numbers; > > always add a stop. Or dash ( - ) to show where the dollars end and the cents begin and, if there are no cents, always write.00 or -00 to prevent insertion of more numbers to the dollar figure. Dishonoured cheques - We can dishonour your cheque or not pay on it if, for example: > > you have insufficient funds or available credit in your account to cover the cheque; > > you have not drawn up the cheque clearly so we are unsure of what you want us to do; > > you have post-dated your cheque and it is presented for payment before the date in the cheque; > > the cheque is stale, that is, the date of the cheque is more than 15 months ago; or > > we have notice of your death or mental incapacity. Fees - Details of fees are contained in our fees and charges brochure. Non-personal cheques - Member cheques for companies, trusts and registered businesses must include the full name of the business including the ACN/ABN for companies. Identification Requirements QSCU and all other financial institutions must apply procedures to prove your identify when you: > > open a new account; > > become a signatory to an account; or > > have a supplementary card issued. On these occasions, we will need to complete a full check of your identity. This procedure will occur once only and will involve: > > making a series of checks on certain information provided by you (we may need to obtain more details from you than we have taken previously, but this is necessary to comply with the laws); > > other methods may be available. (please call us for further details)

15 These procedures are part of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth), which is designed to help prevent people from using the financial system for tax evasion and money laundering. We support this Australia-wide effort to fight crime and will do everything we can to make these procedures as smooth as possible for members. Information Checks - To be fully identified you must provide documents to enable us to confirm your full name, address and date of birth. Documents which may be provided solely, or in combination, include Australian Driver license, Proof of Age, Passport, Birth Certificate, Australian Government Pension Card and Mortgage Documents. Schedule 2 Terms and Conditions - Savings Account Mutual Banking Code of Practice - The relevant provisions of the Mutual Banking Code of Practice apply to your account. Account Access - Any CueCard, Visa Card, or Cheque Book operating on your account will be subject to the terms and conditions applicable to the facility, the Conditions of Use of a card and the Electronic Funds Transfer Code of Conduct. Periodical Payment (auto transfer), Direct Debit or other payments services will be subject to the terms and conditions applicable to those services. Copies of these terms and conditions are available on request. We may change or stop a payment service without your consent. Account Combination or Set Off - We reserve the right to use any credit balance in any savings account you have with us and Membership Shares to repay any debt you owe us. Account Opening - The General Information in Schedule 1 explains how to open an account with us. We reserve the right to not provide a savings account or related service. When you open an account you may have to quote your Tax File Number (TFN) to avoid having tax taken out of your interest payments. General Descriptive Information - We will provide you on request with general descriptive information concerning our products or services and member chequing facility. Refer to the General Information in Schedule 1. This includes information about: > > account opening procedures; > > our obligations in relation to management of > personal information; > > complaint handling procedures; > > our right to combine accounts; > > information checks; > > what to do if you encounter financial difficulty; > > account switching; > > direct debits and recurring payments; > > chargebacks > > the importance of reading these terms and conditions; > > time taken for clearing a cheque; > > effect of crossing a cheque, the meaning of > non-negotiable and account payee only and the significance of deleting or bearer ; > > how a cheque may be made out to reduce the risk of unauthorised alteration; and 28 29

16 > > the circumstances under which cheques may > be dishonoured. Information on current interest rates and fees and charges is available on request or in the Fees and Charges and Interest Rate Brochures. Fees and Charges - We may charge fees and charges on your account. Refer to the Fees and Charges Brochure. Interest Calculation / Payment Method - We will calculate interest on the daily balance of your account and pay it to your account at the end of each calendar month. The daily interest rate is the relevant annual rate divided by 365. More than one interest rate may apply to your account. We will give you information on current interest rates on request. 100% Loan Offset - A 100% Loan Offset facility may apply which means that interest is not payable to your account. A 100% loan offset is only available if you have a housing loan mortgage with us. Only one loan can be linked and it must be in your name. The Loan Offset rate of reduction (offset rate) will be decided by us from time to time. The daily amount of the reduction of interest payable on the linked loan (offset benefit) will be calculated by applying the offset rate to the daily credit balance of the loan offset/ savings account. The total offset benefit for each month will be credited against the interest due on the loan on the last day of each month. The maximum offset benefit that can be obtained is the offset benefit rate applied to the daily outstanding balance of the linked loan account. Therefore, if the balance of the loan offset/savings account exceeds the balance of the linked loan account on any day, no benefit will be obtained for that day in respect of the excess. Regardless of the amount in the loan offset/savings account, no reduction will apply on the outstanding principal of the linked loan. The offset rate can never exceed the loan interest rate to which it relates. No offset benefit will apply unless the loan offset/savings account is in credit. If you pay out the linked loan it is your responsibility to close the loan offset account, cancel the loan offset facility or arrange to have it linked to another loan account. If you pay out the linked loan part way through a calendar month, there will be no offset benefit for that entire month. Account Closure - We may: > > close any of your savings accounts; > > and/or classify your savings accounts as dormant if there have been no transactions for at least 1 year (excluding interest or fees); even though the account may have a credit balance. We will give you reasonable notice before doing so. Any CueCard or Visa Card authorised for use on any of your accounts must be returned to us unless it is authorised for use on another person s account. Credit Reversal - We may reverse any credit to any of your savings accounts that we have received on your behalf if we, for any reason whatsoever, do not receive value for the credit or the credit is reversed by the payee s financial institution. Overdrawn Accounts - We do not agree to provide any credit in relation to your account. You agree not to overdraw your account unless you have an Overdraft. You may apply for an Overdraft on your account (except business accounts, Qsaver or Bonus Saver) which will be subject to the Terms and Conditions of an Overdraft credit contract. We may, at our discretion, honour a cheque, periodical payment (autotransfer), direct debit or Visa transaction. If your account becomes overdrawn for any reason, immediate repayment is required and we may charge you a fee and interest on the overdrawn amount as well as any reasonable legal fees we incur in obtaining the amount from you. The interest rate that we may charge on overdrawn amounts is the same as the interest rate for unsecured Overdrafts and current interest rates are available on request. Deposits - There is no minimum balance that must be maintained in your account (apart from the amount paid when a membership is opened to buy redeemable preference shares in QSCU). Cheques deposited to your accounts will be credited conditionally. Some deposits that include both cheque and cash will also be credited conditionally, where QSCU cannot ascertain the amount of the cash component of the deposit. Amounts credited will be debited back to your account if the cheque is not met. Credits may not be available until we have been advised that the cheque has been cleared. Arrangements cannot be made for special clearance on any cheque deposit. If a cheque deposited is refused payment by the paying bank, we may charge a fee (see Fees & Charges brochure). All cheques for deposit can only be accepted if in the name of the account holder, unless endorsement by the payee to the account holder is evident on the reverse side of the cheque and there is satisfactory evidence of the identity of the endorser. A cheque will not be accepted if it is stale, i.e. the date of the cheque is more than 15 months ago. For special terms relating to express deposits refer below. ATM Withdrawals - Automatic Teller Machine (ATM) withdrawals are available on accounts with a CueCard or Visa Card. EFTPOS (electronic funds transfer point of 30 31

17 sale) access is available on accounts with a CueCard or Visa Card. If you are using a QSCU ATM, the minimum withdrawal of cash in any transaction is $20 and the maximum withdrawal is $1, If you are using an ATM not operated by us, the maximum and minimum withdrawals may be different. We do not accept any responsibility for an operator of another ATM imposing restrictions on the use of an ATM. Account Withdrawal and Access Limits - Withdrawals at call are available on all accounts (except Qsaver for cash and cheque withdrawals). There are no minimum permitted deposits and withdrawals. We may not allow a withdrawal unless we have proof of identity of the member or signatory making the withdrawal which is acceptable to us. You may withdraw up to a maximum of $2, cash per membership per day at QSCU Member Service Centres. If you require a larger amount in cash arrangements can be made with the QSCU s bank (Westpac) to cash QSCU cheques. We may require written authorisation from the account holder for withdrawals and written authorisation is required from the member for a third party to conduct a cash/cheque withdrawal at a Member Service Centre. You may withdraw up to a maximum of $1, cash per card per day for all electronic access withdrawals by ATM or terminal or cash dispenser unit. You may make payments or transfers via Online Banking or Telephone Banking up to a maximum of $25, per transaction type per day. Each day ends at 12 midnight Eastern time (New South Wales). Statements of Account - You will receive a statement for each account held at least quarterly. The statement gives details of the transactions, fees and charges and interest for the account. Sweep Terms - We may transfer funds (sweep) between accounts in your membership to meet some withdrawals which would otherwise overdraw your account. Sweep will operate at our discretion and QSCU accepts no responsibility to make sweeps. QSCU shall not incur any liability from failure to do so for any reason. Variations - We may vary the terms and conditions without your consent. If we vary the terms and conditions we will give you notice of the change by notice in a newspaper advertisement, a newsletter, your statement of account or by individual notice sent to you. When we give you notice will depend on the type of change and whether it increases or decreases your obligations. If we: > > introduce a new fee or charge, we will give you at least 30 days notice; > > change the method of interest calculation and increase your obligations, we will give you at least 30 days notice; > > change the method of interest calculation and decrease your obligations, we will notify you in our next contact with you after making the change; > > change the frequency of debiting or crediting interest and increase your obligations, we will give you at least 30 days notice; > > change the frequency of debiting or crediting interest and decrease your obligations, we will notify you in our next contact with you after making the change; > > change a standard fee and charge and increase your obligations, we will notify you no later than the day we make the change; > > change a standard fee and charge and decrease your obligations, we will notify you in our next contact with you after making the change; > > reduce interest rates, we will notify you no later than the day we make the change; > > increase interest rates, we will notify you in our next contact with you after making the change; > > make other changes and increase your obligations, we will notify you no later than the day we make the change; or > > make other changes and decrease your obligations, we will notify you in our next contact with you after making the change. Authority to Operate Instructions You may nominate a person to operate on your account by completing an Authority to Operate form, available at any Member Service Centre. By signing the Authority to Operate you instruct us to allow a person to be authorised to operate on your account and to conduct any transaction on the account that you could, including: > > Cancelling cheques; > > Making withdrawals; > > Authorising periodical payments (auto transfers) and > direct debits; and > > Using electronic and other access to your account. Method - The Authority to Operate will state the method of operations for the account. This may be: > > Any account holder or signatory to sign (i.e. operate); or > > All account holders and signatories to sign; or 32 33

18 > > Another method which you specify and which is acceptable to us (e.g. any two account holders or signatories to sign). If no method is stated the method will be any account holder or signatory to sign. Card Access - If a CueCard or Visa Card is issued on an account, the method of operation for the account will be any account holder or signatory to sign. Duration - An Authority to Operate will remain in force until we receive written notice of cancellation or written notice of the death of the person granting the authority and that written notice has been processed by us. Notice of cancellation must be signed by all surviving account holders. We may require a new Authority to Operate before we allow further operation of the account. Disputes - If there is a dispute notified to us about an Authority to Operate, or the owner or owners of an account, we may refuse to allow operation on the account until all parties concerned have signed the necessary authority. Identity - We will not allow a person to operate on an account until his or her identity has been verified in accordance with procedures prescribed by the Anti-Money Laundering and Counter Terrorism Financing Act and any other identification procedures we require. Liability - We are not liable for any loss or damage caused to you by persons authorised to operate on your account, except where it arises from fraudulent conduct by our agent or employee or if we are liable under statute or the EFT Code. We are not liable for any loss or damage caused by any delay in processing a cancellation of an Authority to Operate. Joint Accounts - Special Terms Credit Balance - The credit balance of a joint account is held jointly by all account holders. Each account holder has the right to all of the balance, jointly with the other account holders. Survivorship - If a joint account holder dies, the remaining account holder holds the credit balance and if more than one, those remaining account holders hold the credit balance jointly. Authority / Disputes - A joint account holder may only make a withdrawal on the terms of any authority to operate on the account. If we become aware of a potential dispute between joint account holders, we may decide to only permit operation on the account when all parties have signed the necessary authority. Joint and Several Liability - Each joint account holder is liable for the whole of any debit balance on the account. We can sue all or any account holder(s) for an amount owing on the account. Cheque Payees - We may accept a cheque into a joint account which is payable to any one or more of the joint account holders. Express Deposit - Special Terms Definitions - Deposit Slip means our standard express deposit form for detailing a deposit. Banking Day means a day other than a Saturday or Sunday, or a public, special or bank holiday. Deposit Envelope means our deposit envelope issued to you to contain a deposit using the service. Express Deposit Box means a deposit box situated inside our office. Seal means the closure mechanism on a Deposit Envelope consisting of an adhesive strip on the press down flap. Using the Service - You may only use the service to deposit cheques or money orders and other negotiable instruments. Deposits using the service must: Be made by depositing a Deposit Envelope in an Express Deposit Drop Box at our office and be made using a Deposit Envelope, which complies with the following conditions: (i) The Deposit Envelope must contain a fully completed Deposit Slip accurately recording the contents of the Deposit Envelope. (ii) The Deposit Envelope must contain a duly completed Deposit Slip accurately recording the details of the cheques to be deposited. (iii) The Deposit Envelope must be completely sealed using the seal. (iv) The Seal on the Deposit Envelope must be fully intact, in no way damaged or with evidence of tampering. We are not obliged to but may in our discretion accept, retain or process any attempted deposit using the service which does not comply with these terms and conditions. Crediting Accounts - Subject to the following paragraphs, if a Deposit Envelope is deposited at an Express Deposit Drop Box prior to 4.00pm on a Banking Day the following applies: (a) for interest calculation purposes the amount recorded on the deposit Slip will be credited to your account on that Business Day. (b) for the purpose of withdrawal of the amount recorded on the Deposit Slip, the amount recorded on the Deposit Slip will be credited to your account no later than commencement of business on the next Banking Day

19 If a Deposit Envelope is deposited in a Deposit Express Drop Box after 4.00pm on a Banking Day we may treat this as a deposit made before 4.00pm on the next Banking Day. Proceeds of any cheque or other item deposited into your account will not be available until the cheque or other item is cleared. Cheques drawn on an Australian Financial Institution deposited, normally require a period of 3 days before funds can be accessed. Cheques drawn on overseas institutions have longer clearance periods. All crediting of your account is subject to the following: > > Our records of the contents of the Deposit Envelope will > be conclusive evidence of same. > > We are not liable for any discrepancy between the amount > or details of the deposit recorded on the Deposit Slip > and the actual contents of the Deposit Envelope verified > by us. We will notify you of any such discrepancy as soon > as possible. > > Without limiting the generality of the above, we are not > liable for loss or damage caused by fire, explosion, water, > failure or electricity, defect in any lock or machinery, > natural disaster, civil unrest or commotion or > military action. Liability - We will exercise due care and diligence in safeguarding Deposit Envelopes you deposit. Subject to paragraph above we are not responsible for and exclude all liability for any loss or damage (including any indirect or consequential loss or damage) which you may suffer or incur as a result of: (a) your breach of any of the terms and conditions for > your account; (b) any loss or damage to a Deposit Envelope or its contents; (c) any discrepancy between the amounts of the details recorded on a Deposit Slip and the actual contents of a Deposit Envelope containing that Deposit Slip as verified by us; (d) the exercise by us of our rights under these terms > and conditions; (e) malfunction or failure of an Express Deposit Drop Box. Schedule 3 Terms and Conditions - Member Cheque Facility 1. In signing the Application (or upon prior issue by you of a cheque or the making of a deposit under the Scheme) you, the customer, acknowledge that (subject to acceptance by QSCU) you agree to these terms and conditions and that you have appointed both QSCU and Indue Ltd ( Indue ) as your agent and that you have authorised each of them to: (a) Conduct accounts ( the Bank Account ) with Westpac Banking Corporation ( the Bank ) to enable you to draw cheques for payment for goods and services out of the funds in your account with QSCU which is dedicated either exclusively or otherwise to the Cheque Scheme (the QSCU Account ) and make deposits to the Bank in accordance with these terms and conditions; and (b) Transfer funds to the Bank Account from your QSCU Account to meet the amount of cheques or payment orders ( a cheque ) that you or your Authorised Signatories have signed and to meet the value of all costs, taxes or charges made or incurred by QSCU > or the Bank. (c) Disclose to the Bank such information relating to your QSCU Account as is necessary to process all transactions carried out by you. 2. It is your responsibility to ensure that all cheques drawn > by you are properly authorised and completed. Any cheque presented for payment which is undated, unsigned or without a payee included may be dishonoured. 3. No cheques will be cashed by the Bank unless prior arrangements have been made between you, QSCU and the Bank. QSCU shall accept no liability of any kind as a result of the party who presents a cheque for a special answer treating any lapse of time as a dishonour of the cheque. 4. If the amount of any cheque presented for payment to the Bank exceeds the Available Balance (as defined in Clause 5 below) in your QSCU Account at the time the cheque is presented, QSCU may instruct the Bank to refuse to pay the cheque. In such event, QSCU will advise you in writing, by ordinary pre-paid post, as soon as practicable, but will incur no liability for failure to do so. Where the Bank refuses to pay a cheque in accordance with this condition, or in accordance with any other condition, QSCU may, at its absolute discretion, debit to your QSCU Account any costs incurred through such refusal, any such costs shall be a debt from you to QSCU

20 5. The Available Balance includes any funds lodged in your QSCU Account, any unused overdraft or other agreed credit facility made available for your QSCU Account. The Available Balance does not include deposits received but uncleared in accordance with the policy of QSCU, nor does it include interest accrued but not credited or deposits in transit. 6. If your QSCU Account is held in the name of two (2) > or more persons, all funds in that account and the > Bank Account will be held jointly. The expression customer includes all such persons jointly and severally. If one of the parties should die, any balance > in these accounts shall accrue in accordance with the law of survivorship for the time being in the State in which QSCU is incorporated. 7. If you want to stop payment on any cheque, you must advise QSCU before the cheque is presented to the Bank for payment. QSCU is only required to instruct the Bank to stop payment on any cheque when QSCU s standard stop payment notice has been correctly completed, signed and delivered to QSCU. QSCU may elect, at its discretion, to instruct the Bank to stop payment on a cheque upon your telephone instructions pending written confirmation. 8. In the event that a correctly authorised and presented cheque exceeds the available balance of your QSCU Account, you hereby authorise QSCU, (but it is under no obligation so to do), to transfer to that account from any other account or accounts held with QSCU in the name or names of the customer, sufficient funds (within the Available Balance of such other account or accounts) to allow payment of the cheque. QSCU may, at its absolute discretion, debit a fee, as determined by it from time to time, to your QSCU Account for each and every such transfer, and such fee shall be a debt from you to QSCU. Notwithstanding this condition, QSCU shall be held harmless from any claim whatsoever from you or any other person or organisation, should QSCU fail or > refuse to make such a transfer. 9. If QSCU for any reason and without reference to you pays a correctly authorised and presented cheque that exceeds your Available Balance, then you shall incur a debt to QSCU for the amount by which the cheque exceeds the Available Balance. In such circumstances, the debt shall be repayable by you immediately upon the written demand of QSCU. If you fail to repay such debt, then you shall be required to pay all costs and expenses whatsoever incurred by QSCU in collection of that debt. 10. You acknowledge that the Bank may refuse to pay or > dishonour any cheque that is drawn by you under the > Cheque Scheme and presented for payment, regardless > of the state of your account with your QSCU Account if: (a) the Bank receives a direction from Indue to > dishonour the cheque, whether or not such > direction is authorised or justified; (b) at the time of presentment of the cheque, or at any > time within which the cheque may be dishonoured > under the then current practice of bankers: (i) Indue fails or omits to pay to the Bank, an amount in cleared funds equal to the face value of the cheque; (ii) A petition is lodged or an order is made or a resolution is passed for the winding up of Indue or placing it under official management or any ground for its winding up has arisen or any meeting is convened for the purpose of considering any such resolution or any resolution for any arrangement or composition with creditors or a receiver of its undertaking or property or any part thereof is appointed or an Administrator is appointed or it stops payment generally or without the consent of the Bank ceases or threatens to cease to carry on business or the major part thereof; or (c) the cheque drawing and deposit facility is terminated. 11. The Bank may disclose to QSCU and to Indue all > information relating to your participation in the Scheme > and the transactions effected on your behalf. 12. You will pay such charges as shall be determined by > QSCU from time to time in relation to all transactions > and to all cheques drawn on or deposits made to the > Bank pursuant to the Cheque Scheme. 13. You agree that the rights and liabilities of QSCU in > relation to its services pursuant to the Cheque Scheme > shall be as if QSCU were a paying bank and collecting > bank as defined by, or a banker as referred to, in the > Cheques and Payment Orders Act Any cheque received by QSCU before it receives a > written notice of cancellation or variation of authority > may be paid by QSCU in the normal course of business. 15. The terms and conditions of use may be varied from time > to time. Following notice to you, the issue of a cheque by > you or the making of a deposit under the Cheque > Scheme will indicate your acceptance of the variation. 16. QSCU reserves the right to withdraw the cheque drawing > and deposit facility at any time. No cheques may be > issued by you after the facility has been withdrawn

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