Important Notice to Commonwealth Bank Customers

Transcription

1 Important Notice to Commonwealth Bank Customers Change to NetBank Terms and Conditions From 9 October 2009, the terms and conditions of NetBank in the following brochures will change as shown below: Business Cheque and Savings General Information and Terms and Conditions brochure, dated 30 March 2009, ( the business accounts brochure ), page 39. Transaction, Savings and Investment s General Information and Terms and Conditions brochure, dated 30 March 2009, ( the personal accounts brochure ) page 43. Electronic Banking General Information and Terms and Conditions brochure, dated 2 March 2009 ( the electronic banking brochure ), page At the heading Daily limits for transfers through e-banking on page 43 of the personal accounts brochure and page 22 of the electronic banking brochure and at the heading Daily Limits for Electronic Banking on page 39 of the business accounts brochure, amend the 4th bullet point to read as follows: $1,000 ($2,000 if you register from 10 October 2009) when transferring to a non-linked account (for example, another person s account or an account at another financial institution). Change to Statement Frequency From 30 October 2009, the statement frequency (standard cycle) for Streamline s shown in the following brochure will change as shown below: Transaction, Savings and Investment s General Information and Terms and Conditions brochure, dated 30 March 2009, pages 8 and In the table headed Features summary (cont.) on page 8, amend the row for Receive regular statements for Streamline to read Half Yearly In the table headed When we will send you an account statement on page 26, amend the Frequency of statement (standard cycle) for Streamline to read Every 6 months. Commonwealth Bank of Australia AFSL ADV ( )

2 Transaction, Savings and Investment s. General Information and Terms and Conditions Dated 30 March 2009 These products are issued by the Commonwealth Bank of Australia ABN AFSL This brochure contains the Terms and Conditions for the following accounts: Debit MasterCard Transaction (Smart Access and Complete Access) Streamline Pensioner Security AwardSaver Youthsaver NetBank Saver Cash Investment Savings Investment (existing account holders only no longer available for sale) Cash Management Call (existing account holders only no longer available for sale) If you have any questions on the terms and conditions or fees and charges, ask our staff or call us on

3 Contents 1 About these Terms and Conditions 2 Section 1: Choosing the right account 2 Which account suits your needs? 5 What are the risks? 6 Features summary 10 Section 2: Opening and operating your Transaction, Savings and Investment accounts 11 Code of Banking Practice 12 How to open an account 18 Making deposits 19 Financial Claims Scheme and Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding 20 Making withdrawals, purchases and payments 24 What interest can you earn? 26 Your account statement 27 Changes to your Terms and Conditions 28 Customer information and privacy 30 What if you have a complaint? 32 Section 3: Card and electronic access to your account 33 Part A: Overview of e-banking 37 Part B: Special conditions relating to Debit MasterCard (for Smart Access and Complete Access accounts only) 40 Part C: Special conditions relating to Internet Banking and Phone Banking 49 Part D: General conditions 60 Section 4: Fees and charges 62 Quick reference to fees and charges 66 Electronic withdrawal fees 66 Assisted withdrawal fees 67 Access fees 68 Overdrawing Approval Fee 69 Fees for common banking services 71 NetBank Service Fees 73 Government charges 74 Exemptions from fees 78 Withdrawals that do not attract any fees 78 Relationship Balance 80 Meanings of words 83 Where to get help The MasterCard brand mark is a registered trademark of MasterCard International Incorporated.

4 About these Terms and Conditions This brochure contains information to help you make an informed decision about the banking product(s) that best suit your needs, and to help you compare them with others you may be considering. Section 1 This section provides general information on transaction, savings and investment accounts and their features and benefi ts. You should read this section to fi nd out which account is right for you. Section 2 This section sets out Terms and Conditions applicable to all accounts in this brochure. Section 3 This section sets out Terms and Conditions applicable to card and electronic access to all accounts in this brochure. Section 4 This section tells you about the fees and charges that may apply to your account. Contractual relationship Sections 2 and 3 of this brochure form the Terms and Conditions of the contract between you and us if you decide to open an account. There are also Terms and Conditions that may apply by operation of law. Please read this brochure before opening an account. You will then know what to expect from us and what we expect from you. You can ask us questions about any of the Terms and Conditions which you do not understand and so avoid misunderstandings. If you open an account, then you should keep this brochure and all other documentation for future reference. Defi nitions of important words and terms can be found on pages 80 to 82, together with a list of useful contact numbers (on pages 83 and 84) if you need help with your banking. 1

5 Section 1: Choosing the right account Which account suits your needs? The Bank has a range of personal transaction, savings and investment accounts to suit your requirements. Each account provides a wide range of features and benefi ts. Transaction, savings and investment accounts include: Debit MasterCard Transaction (Smart Access and Complete Access) Streamline Pensioner Security AwardSaver Youthsaver NetBank Saver Cash Investment Features and benefits Read this section to compare the features and benefi ts offered by each type of account. These accounts are for personal use only. Transaction accounts Debit MasterCard Transaction An everyday all-in-one bank account that allows you to access your own funds with a Debit MasterCard. By using your Debit MasterCard, you can use your own money to purchase or pay for goods and services over the phone or Internet. The account offers you fl exibility, choice, access to Australia s largest banking network and MasterCard acceptance worldwide. For a low fl at monthly fee you can choose from: Smart Access: unlimited Commonwealth Bank electronic transactions. 1,2 Complete Access: unlimited Commonwealth Bank transactions. 1 (Smart Access and Complete Access are options of the Debit MasterCard Transaction.) A Debit MasterCard contains new secure microchip technology which enhances the security of the card by making it more diffi cult to fraudulently copy the details of your card. The chip does not hold any personal information, just the advanced security software that protects you from fraudulent transactions. The Debit MasterCard also has a magnetic stripe to ensure that you can still transact anywhere you go. Transaction accounts Debit MasterCard Transaction (cont.) Streamline Another great feature of a Debit MasterCard is PayPass which allows you to make payments by simply tapping your card against a PayPass reader for purchases of $35.00 or less. Once the transaction is confi rmed, you re done. There is no need to sign or enter a PIN. Certain customers can be exempt from fees on these accounts. (Refer to the Exemptions from fees table on pages 74 to 77 for details.) Buying goods, paying bills and managing your fi nances is easy with these accounts using EFTPOS, Telephone Banking, NetBank, direct debit, BPAY and MasterCard acceptance worldwide. You can also have your pay and other income credited to your account and there is an optional cheque book offered. For customers aged 18 years or over. For customers who maintain an Australian residential address. An overdraft facility is available to approved applicants. Minimum opening balance: No minimum. An everyday all-in-one bank account (including a Keycard) that offers you fl exibility, choice and access to Australia s largest banking network. For a low fl at monthly fee you can choose from: Streamline e-access: unlimited Commonwealth Bank electronic transactions. 1,2 Streamline Unlimited: unlimited Commonwealth Bank transactions. 1 Certain customers can be exempt from fees on this account. (Refer to the Exemptions from fees table on pages 74 to 77 for details). Buying goods, paying bills and managing your fi nances is easy with the Streamline, using EFTPOS, Telephone Banking, NetBank and direct debit or BPAY. You can also have your pay and other income credited to your account, and if you are 18 years or over there is an optional cheque book offered. An overdraft facility is available to approved applicants aged 18 years or over. Minimum opening balance: No minimum. 1 Excludes all ATMs overseas, EFTPOS and Debit MasterCard transactions overseas or involving currency conversion, transfer group payments to third parties, International Money Transfers and separate services such as bank cheques, periodic payments and transfers/deposits to other banks. 2 Smart Access and Streamline e-access also exclude assisted withdrawals and cheques written. 2 Registered to BPAY Pty Ltd ABN

6 Section 1: Choosing the right account Transaction accounts Pensioner Security Savings accounts AwardSaver Youthsaver An all-in-one transaction account that lets you earn attractive interest with at-call access. Designed for independent retirees aged 55 and over or recipients of an eligible pension or allowance. (See page 81 for eligibility requirements.) You receive the Keycard/Cheque option when you open a Pensioner Security. Minimum opening balance: $2,000. A savings account that lets you grow your savings faster, with bonus interest when you make at least one deposit and no withdrawals during a calendar month. Use your Keycard to access your money via ATMs (24 hours a day, 7 days a week) and EFTPOS (where available). For customers aged 18 years or over. Minimum opening balance: $1 if a regular electronic deposit is arranged (such as your salary or other income being directly credited to your account), otherwise $100. A dedicated savings account for customers under the age of 18 who want an account with no account keeping or withdrawal fees (access fees and NetBank service fees may apply) refer to page 63 (for Youthsaver) for details on fees. Youthsaver rewards saving through bonus interest if you make at least one deposit and no withdrawals in a calendar month. It has no minimum withdrawal or deposit amount. Funds are available at call. Convenient access (parent/guardian s consent required for customers under the age of 16) to funds through ATMs, Telephone Banking or NetBank. Minimum opening balance: No minimum. Savings accounts NetBank Saver Park or invest your money Cash Investment What are the risks? All fi nancial investments involve a certain amount of risk. The products offered in this brochure are all low risk investments. You should also be aware of other risks such as the possibility of unauthorised transactions on your account. Please refer to page 55 for details. In addition, there is a risk that you may not be able to access your account information or make transactions through a service which is reliant on computer and/or telecommunications systems. The Bank is dependent on the reliability of its own operational processes and those of its technology and telecommunications partners in respect of computers, computer networks and telecommunications. Disruptions to these processes may result in banking services being unavailable from time to time. An online savings account with a competitive rate, no bank fees and instant access to your savings. You must have a Smart Access, Complete Access or Streamline to enable transfers in and out of your NetBank Saver. An account for people who want to earn competitive interest and who want at-call access to their cash without needing full transactional functionality. This account also offers an optional cheque book. Minimum opening balance: $10,000. Cheques deposited to your account will generally take 3 working days to clear and funds should not be relied upon until such time as they are cleared. Cheque books should be kept in a safe place to ensure that unauthorised drawings do not occur. If you instruct us to accept facsimile signatures to authorise debits from your account, you will need to provide a separate authority and indemnity. Unless you have provided a separate authority and indemnity, we will not accept facsimile signatures as authority to debit your account. If you do authorise us to accept facsimile signatures, you accept the risk of any unauthorised transactions on your account initiated by facsimile signatures. 4 5

7 Features summary TRANSACT SAVE PARK/INVEST Features (also refer to the fees and charges summary table on pages 62 to 65) Smart Access and Complete Access Streamline Pensioner Security Passbook 7 Option Keycard/ Cheque Option AwardSaver Youthsaver NetBank Saver Cash Investment Secure chip technology and PayPass Pay for purchases by mail order, telephone or online using Debit MasterCard Pay for purchases overseas using Debit MasterCard ATM access Australia/New Zealand/Indonesia/ Vietnam and worldwide (where you see MasterCard) ATM access Australia/New Zealand/Indonesia/ Vietnam and worldwide (where you see Maestro/ Cirrus or Visa Plus) Access funds using your linked Commonwealth Bank credit card 3 4 Transact at Commonwealth Bank branches 2 3 Keycard (debit card) access, with choice of Personal Identifi cation Number (PIN) Passbook account 7 Cheque book option available Pay most bills over the phone, or via NetBank using BPAY Receive some bills electronically via BPAY View, then view and pay those bills using NetBank Pay for purchases (and withdraw cash at retailer s discretion) using EFTPOS terminals 18 years and over 3 18 years and over (excludes NetBank) NetBank only years and over Internet Banking through NetBank 3,5 Table continued overleaf. Footnotes are listed at the end of the table. 6 7

8 Features summary (cont.) TRANSACT SAVE PARK/INVEST Features (also refer to the fees and charges summary table on pages 62 to 65) Smart Access and Complete Access Streamline Pensioner Security Passbook 7 Option Keycard/ Cheque Option AwardSaver Youthsaver NetBank Saver Cash Investment Telephone Banking 3 Transfer funds automatically via authorised direct debit and/or direct credit 3 Direct credit only Make periodic payments 3 May qualify for bonus interest Receive regular statements Quarterly Quarterly 1 Quarterly Half-yearly Half-yearly Half-yearly Quarterly Funds available at call Fee exemptions may apply N/A Deposit at school via Student Banking facilities Participating schools 6 Minimum opening balance No minimum No minimum $2,000 $1 if regular electronic deposit established (such as direct credit of your salary), otherwise $100 No minimum No minimum $10,000 1 Half-yearly if under Passbook transactions are not available at some branches opened after 1 August Please call to 5 Enquiry only access to NetBank to view accounts and check balances online available for customers under 16 years check availability. of age with parent/guardian consent. 3 If 16 years or over, or under 16 with parent/guardian consent. Parents/guardians can transact if their Commonwealth 6 Schools participating in Student Banking receive a commission payment of $5 for every Youthsaver opened Bank account(s) is linked to their child s Youthsaver. through them, and may receive commission for processing deposits. 4 For parents/guardians if their Commonwealth Bank account(s) or Commonwealth Bank credit card is linked to their 7 Existing account holders only no longer available for sale. 8 child s Youthsaver. Registered to BPAY Pty Ltd ABN

9 Section 2: Opening and operating your Transaction, Savings and Investment accounts This section, in conjunction with Section 3 of this brochure, forms the Terms and Conditions of the contract between you and us if you decide to open an account. These Terms and Conditions become binding from the time you open an account. From that time, we and you undertake to keep to the Terms and Conditions. How to open an account Making deposits Financial Claims Scheme and Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding Making withdrawals, purchases and payments What interest can you earn? Your account statement Changes to your Terms and Conditions Customer information and privacy What if you have a complaint? You can open your account in a variety of ways. This section tells you about things you need to consider when opening your account. Ways to make a deposit into your account, transfer funds and alter or stop regular payments. Page 12 Page 18 Information about these Schemes. Page 19 This section tells you about how to make withdrawals, purchases and payments, and how to transfer funds, establish overdraft facilities and cancel or alter a direct debit authority or periodical payment. Find out what interest your account can earn and when we pay interest. Information on when we send you an account statement and how to fi nd out the balance of your account. We tell you about how and when we keep you informed of changes in your Terms and Conditions. How we safeguard your privacy and why the Bank collects or may disclose customer information. Page 20 Page 24 Page 26 Page 27 Page 28 How we handle complaints and disputes. Page 30 For the meanings of key words included in this section, refer to the Meanings of words on pages 80 to 82. Code of Banking Practice We observe the provisions of the Code of Banking Practice. The Code is applicable to Sections 2 and 3 of this brochure. Relevant provisions of the Code apply to the accounts in this brochure if they are held by individuals or by small business customers. The Code is a voluntary code of conduct which sets standards of good banking practice for us to follow when dealing with you. We have prepared an information booklet, The Better Banking Book, which contains useful information on a range of banking matters including: the rights and obligations that arise out of the banker and customer relationship; account opening procedures; our obligations regarding confi dentiality of your information; our complaint handling procedures; bank cheques; the importance of you informing us promptly when you are in fi nancial diffi culty; the importance to you of reading the Terms and Conditions applying to any banking service provided to you or in which you are interested; and how to use a cheque account. Any of the Terms and Conditions in Sections 2 and 3 which cancel, limit or modify our liability to you, do so only to the maximum extent permissible by law. These Terms and Conditions do not exclude or modify those of your rights which cannot be excluded or modifi ed under legislation applying to your account. Where to obtain a copy of The Better Banking Book Any branch of the Commonwealth Bank Call (24 hours a day, 7 days a week) Ask your relationship manager Code of Banking Practice Any branch of the Commonwealth Bank Call (24 hours a day, 7 days a week) Ask your relationship manager Visit our web site commbank.com.au 10 11

10 Section 2: Opening and operating your Transaction, Savings and Investment accounts How to open an account You can open an account in a variety of ways which are summarised in the table below. There are some specifi c conditions for opening particular types of accounts set out below the table. 1 Type of account TRANSACT SAVE Bank branch Call Participating schools Mortgage brokers Online 3 Minimum opening balance Smart Access and Complete No minimum Access 4 Streamline 5 No minimum Pensioner Security Keycard/Cheque option $2,000 AwardSaver 6 $1 if regular electronic deposit established, otherwise $100 Youthsaver 7 No minimum NetBank Saver 8 No minimum We must verify your identity At the time of opening an account, we are required to verify the identity of each signatory by relying on independent documents or data. If you are a new customer of the Commonwealth Bank or have not previously been adequately identifi ed by us, you will be required to provide the following identity documentation: one Primary Photographic Identifi cation Document; or two Primary Non-Photographic Identifi cation Documents; or one Primary Non-Photographic and one Secondary Identifi cation Document. Examples of these may include: Primary Photographic Identifi cation Documents (must contain your photograph) Passport; Australian driver s licence; proof of age card issued in Australia. Primary Non-Photographic Identifi cation Documents birth certifi cate; citizenship certifi cate; pension card issued by Centrelink that entitles fi nancial benefi ts. PARK/ INVEST Cash Investment $10,000 1 We reserve the right to refuse any application to open an account. We must verify your identity. 7 Youthsaver You must be under 18 years of age to open and conduct a Youthsaver. If you are under 16 years 2 You must be 16 years of age or older to open a Streamline over the phone. of age, a parent/guardian or other adult must sign the application form to open the account and provide appropriate 3 For Pensioner Security, AwardSaver and Cash Investment s, you must be 18 years or over to open an identifi cation for themselves and for you. Withdrawals are not allowed until acceptable identifi cation is provided. account online. Youthsaver s cannot be opened in joint names or as a trustee of a private trust. The accounts cannot be used 4 You must be 18 years of age or older and an Australian permanent resident to open a Smart Access or Complete for business purposes, or for the private or domestic use of a parent or guardian. Before you turn 18, we will contact Access account. you to transfer your Youthsaver account to one of our other savings or transaction accounts. You may obtain a 5 If you are under 16 years of age, a parent/guardian or other adult must give written consent for you to open the Youthsaver application form by calling us on , or from a school participating in Student Banking. account and to acknowledge that you have full authority to operate the account and any Youthsaver (s) in 8 NetBank Saver You must have and keep open a Smart Access or Complete Access or a Streamline in your name, whether existing or opened in the future. Identifi cation must be provided for the parent/guardian or other your name with access to NetBank or Telephone Banking whilst your NetBank Saver remains open. If you adult and the child at the time of account opening. open a NetBank Saver in a single name, your Smart Access, Complete Access or Streamline may 6 AwardSaver If you establish an automatic electronic regular savings plan (for example by arranging a Direct Debit be in a single or joint name (provided your name appears as one of the Smart Access, Complete Access or Streamline request to deposit funds to the account) or arrange for your salary or other income to be paid directly to your account, holders). If you open a NetBank Saver in joint names, your Smart Access, Complete Access or 12 an opening deposit of only $1 is required. Otherwise, the minimum opening deposit is $100. Streamline must also be in the same joint names. 13

11 Section 2: Opening and operating your Transaction, Savings and Investment accounts Secondary Identifi cation Documents (must show your name and residential address) foreign driver s licence; a recent notice issued by the Australian Taxation Offi ce; an electricity, gas or council rates notice showing details of any service provided to you; if you are under 18, a notice issued by your school principal within the preceding 3 months which records the period of time you attended your school. 1 Foreign language documents If any document is written in a language other than English, we will require an English translation, verifi ed by a translator acceptable to the Bank. Exceptional cases In exceptional cases where a person is unable to meet our requirements, we may, at our discretion, accept other forms of identifi cation. In such cases, we will provide you with details of our requirements. If you are unsure as to identity documents we require, please call us on What if you do not verify your identity? If all signatories to an account have not had their identity adequately verifi ed by us, we will place a stop on the account. In some cases we may close the account or withhold funds in accordance with the law. Why your signature is important We generally require that you instruct us in person in relation to products and services and we generally rely on your signature, PIN or password to verify your instructions. Where available, we are also able to accept instructions by other means for example, Braille and various foreign languages. If you would prefer to instruct us in any of these ways, please make your request known to a member of our staff. Change of personal details We rely on accurate information about your personal details. You must notify us promptly if you change these details, e.g. your address, your name or your address. Your Tax File Number You are not required to provide us with your Tax File Number (TFN) in relation to an account. However, we are obliged by law to deduct tax from interest earned where a TFN or TFN exemption has not been quoted on an account, and where interest is credited to an account of a non-resident. Tax and Social Security implications You may have to pay income tax on any interest you earn on your account. Depending on your personal circumstances, interest you receive may also affect your social security entitlements. You should discuss any taxation or social security issues with an independent taxation or fi nancial adviser. Trust accounts We may allow you to open an account (other than a Youthsaver ) for use when you act as trustee of a private trust. Unless the account is designated as a trust account, when you open an account in your name(s), you confi rm that the funds deposited are not in any way subject to a trust of any kind or lodged in a trustee capacity. For NetBank Saver only NetBank Saver accounts opened in trust must be in the same name as the linked Smart Access, Complete Access or Streamline which must also be held in trust (trustee and benefi ciary the same on both accounts). Opening a joint account The accounts in this brochure (other than Youthsaver) can be held in your name alone or jointly with someone else. An account conducted in more than one name is called a joint account. This is often an effi cient and convenient way to organise the banking for more than one person. Before you open an account with another person, such as your spouse or another member of your family or your partner, you should be aware of the legal implications. The Better Banking Book contains other important information on managing joint accounts. When there is more than one party to an account, the application of age-based fee exemptions (refer to pages 74 to 77 for details) will be based on the age of the oldest account holder. For NetBank Saver only Maximum of two joint account holders. Operating a joint account If you have a joint account with another person or persons, it may be operated in different ways to suit your requirements. Unless otherwise agreed with us when the account is opened: each of you may operate the account independently of each other, including agreeing with us to vary the account Terms and Conditions or the type of account to another referred to in these Terms and Conditions; we may accept for the credit of the account any cheque or negotiable instrument payable to any one or more of you (other than NetBank Saver ); if one of you dies, the account is closed and we pay the balance in the account to the survivor(s); we may accept the authority of any one of you to send account statements electronically, by us making them available on our NetBank service and sending an notifi cation (instead of sending them by mail). Each of you may instruct us not to send statements electronically; and each of you may change your mailing address or address. 1 If a person under 18 years of age does not attend school or if a letter from the school principal cannot be made available in a timely manner, we may consider alternative forms of identity documentation such as a Medicare Card, 14 Health Card or similar document which notes the person s name. 15

12 Section 2: Opening and operating your Transaction, Savings and Investment accounts We are not obliged to enquire into the circumstances of any instructions you give in relation to the operation of your joint account and we are not liable for any loss or damage you or anyone else suffers due to us acting on those instructions in good faith, unless it is proved we were negligent. If you have a joint account with electronic access, the account method of operation must be each of you may operate the account independently of the other (as set out above). If you have a joint Smart Access or Complete Access account with another person or persons, the account method of operation must be each of you may operate the account independently of the other (as set out above). When we can close an account We may close your account if it has a credit balance by giving notice which is reasonable in all the circumstances. We may close your account without notice if your account: has a nil balance; or is overdrawn and has not been operated by you for a period of 3 months or more. We may also close your account without notice if your account has a balance of less than $10.00 and has not been operated by you for a period of 12 months or more. We will transfer the balance to another active deposit account in your name or pay you the balance by bank cheque drawn in your favour. Please also refer to Section 2 We must verify your identity and note that we may, in accordance with the law, close your account if you have not provided adequate identifi cation. If you do not make a deposit or withdrawal on the account for 7 years, the Bank closes the account without notice to you and transfers the credit balance to an unclaimed moneys fund where it will not earn interest (balances over a prescribed amount go to the Government s unclaimed moneys fund). You may apply for return of the transferred balance at any time. For Smart Access or Complete Access accounts only If the account is closed, your Debit MasterCard(s) will automatically be cancelled. For Pensioner Security accounts only We may close the account if you cease to receive an eligible pension or allowance. For Youthsaver accounts only If your account is being used for purposes other than for the private and domestic use of the child, we may close the account or refuse to accept further deposits. For NetBank Saver accounts only Your NetBank Saver must be closed before you can close your Smart Access, Complete Access or Streamline. The Bank will transfer the credit balance of your closed account to your nominated Smart Access, Complete Access or Streamline. If your NetBank Saver balance remains at zero for 3 consecutive months, the account will automatically close. Breach of law If it appears to us that you may: (a) be a proscribed person or entity under the Charter of the United Nations Act 1945 (Cth); (b) be in breach of the laws of any jurisdiction relating to money laundering or counter-terrorism; (c) appear in a list of persons with whom dealings are proscribed by the government or a regulatory authority of any jurisdiction; or (d) act on behalf, or for the benefi t of, a person listed in subclauses (a) to (c); we may immediately: (e) refuse to process any transaction of yours; (f) suspend the provision of a product or service to you; (g) freeze your account; or (h) close your account. We will be under no liability to you if we do any or all of these things. Our rights under this clause are in addition to all other rights we may have. Cheque facility If you are 18 years of age or over, you may apply to the Bank for a cheque book to operate your Smart Access or Complete Access account, Streamline, Cash Management Call, Cash Investment or Pensioner Security (Keycard/Cheque option). You must only use the cheques supplied by the Bank. Stamp duty (where applicable) is charged to your account when a cheque book is issued. The Bank may at any time withdraw your cheque facility in the event of any improper conduct of the account. The Bank may at its discretion require new and existing account holders to lodge a minimum opening balance or have a minimum balance before the cheque facility is provided. If you have an overdraft facility and try to make any withdrawal transaction which would cause the agreed overdraft limit to be exceeded, or you have no overdraft facility and try to make any withdrawal transaction which would cause the balance of the account to be overdrawn, we are not required to honour any cheque or allow any other withdrawal transaction which would cause you to overdraw your account as described above (refer to pages 22 and 23 Debit balances in your account for details). You must always ensure that you draw a cheque in a way that does not facilitate fraud. The Better Banking Book contains other important information on managing cheques

13 Section 2: Opening and operating your Transaction, Savings and Investment accounts Making deposits Ways to make a deposit You can deposit funds: through the Bank s ATMs in Australia if your account has ATM access (where deposit facilities are available) we do not accept coins; at our branches 1 and at selected offi ces of Australia Post and authorised agencies; by scheduled regular payments, e.g. having your salary, pension or other income paid to your account (direct credit) or by periodical payment; at schools where the Bank has Student Banking arrangements. This applies only to Youthsaver s (schools participating in Student Banking may receive commission for processing deposits). If you have a NetBank Saver : you can make deposits via electronic transfer from an existing Commonwealth Bank Smart Access, Complete Access or Streamline in your name; you can arrange to have your salary or any other regular payment made direct to your account by direct credit or periodical payment; you are not allowed at any time to make deposits (cash or cheques) at any branch of the Bank (except an opening deposit), through the Bank s automatic teller machines or at agencies of the Bank. If you try to make deposits this way, they will not be credited to the account and will be returned to you. Altering or stopping regular payments to your account 2 If you wish to alter or stop the payment, you must do so in writing, but please remember to sign the letter. We may cancel or stop the regular payment arrangement on advice from you or when payment arrangements no longer comply with the terms of the authority signed by you or if required by law. In some cases, you may be able to alter the details of a regular payment over the phone by calling Recording of deposits made at Australia Post and authorised agencies 3 Deposits made by you at Australia Post offi ces and authorised agencies may take up to 3 days to be recorded in the Bank s books of account. We record the transaction as having been made on the date of the deposit at the agency. However, you may not draw against an agency deposit until the deposit is recorded. The proceeds of any cheque included in a deposit are not available until the cheque is cleared. Agency opening hours We do not regulate the hours in which Australia Post offi ces and authorised agencies conduct banking business. You should check their banking business hours with the Australia Post offi ce or authorised agency. Making a deposit using your passbook If you have a passbook account, you must present your passbook when making a deposit unless you deposit by using Electronic Banking. You agree that confi rmation of transactions on your account may be provided by us by means of you providing the passbook at a branch 4 of the Bank for updating. Financial Claims Scheme and Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding Financial Claims Scheme The Financial Claims Scheme under the Banking Act 1959 applies to these deposit accounts. The Financial Claims Scheme is free and automatically covers the total aggregated balance of all your deposit accounts* with the Bank up to and including $1,000,000. * Note: includes your separate equal share in any joint deposit account with the Bank. Australian Government Guarantee Scheme Where the total aggregated balance of all your deposit accounts with the Bank exceeds $1,000,000 and you require the benefi t of the Australian Government Guarantee under the Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding (the Scheme) for that amount greater than $1,000,000, you must request the Bank to apply to the Scheme Administrator for the Australian Government Guarantee nominating the account or accounts you require the Australian Government Guarantee to cover. We call this your opt-in. The Bank is required to pay any fees payable in accordance with the Scheme Rules. If you opt-in by requesting the Bank to make an application to the Scheme Administrator for the Australian Government Guarantee, you agree to indemnify the Bank for all fees payable by the Bank to the Scheme Administrator under the Scheme. The Guarantee Fee will be payable monthly and charged at an annualised rate as advised from time to time by the Australian Government. The fee is currently 0.70% and is charged on the aggregated average daily credit balance of the accounts you nominate to be covered for the month over the fee free threshold of $1,000,000. This Guarantee Fee will be debited monthly in arrears to an account nominated by you. For more information on the terms and conditions of the Scheme please visit the Treasury website guaranteescheme.gov.au For details of how to opt-in please visit our website at commbank.com.au, enquire at your nearest branch of the Bank or call Deposits to passbook accounts cannot be made at some branches opened after 1 August Please call to check availability. 2 Youthsaver If you are under 16 years of age and wish to alter or stop a payment and you have not obtained full access to your account, you will need to obtain the written consent of the parent/guardian or other adult who signed the application to open the account. The Bank will only alter or stop the regular payment arrangement provided you obtain such written consent. 3 For Youthsaver customers only, access to your account through Australia Post and authorised agencies is via 4 Deposits to passbook accounts cannot be made at some branches opened after 1 August Please call your Keycard. to check availability. 19

14 Section 2: Opening and operating your Transaction, Savings and Investment accounts Making withdrawals, purchases and payments TRANSACT SAVE PARK/INVEST Method of withdrawal, purchase or payment 1,2 Smart Access and Complete Access Streamline Pensioner Security Passbook Option 5,8 Keycard/ Cheque Option AwardSaver Youthsaver 6 NetBank Saver 7 Savings Investment 5,8 Cash Management Call 8,9 Cash Investment Withdraw funds from an ATM in Australia 3 Withdraw funds from an ATM overseas using the MasterCard network 3 Withdraw funds from an ATM overseas using the Maestro/Cirrus and Visa Plus networks 3 Pay for purchases (and withdraw cash at the retailer s discretion) at EFTPOS terminals 3 Withdraw funds via our branches (and selected 10 (with post offi ces and other authorised agencies) 4 Passbook) Pay by cheque (cheque facility optional and only available for persons 18 years or over) Transfer funds and pay bills using BPAY through Telephone Telephone Banking and Internet banking 3 Banking only Schedule regular payments from your account by periodic payment or direct debit 10 (with Passbook) Excluding NetBank NetBank only Direct debit or credit only Excluding BPAY Telephone Banking only Excluding NetBank 1 Proceeds of cheques The proceeds of cheques and other payment instruments deposited or funds transferred by direct debit cannot normally be withdrawn until cleared. If we allow you to withdraw the proceeds before clearance occurs and the cheque, payment instrument or direct debit is dishonoured, that amount by which your account is overdrawn will be treated as an advance by us to you and you will owe us a debt of that amount (see pages 22 and 23 BPAY payments (including transfers of available funds) using Electronic Banking will be permitted for 3 business days for further details). from the date of the deposit. 2 Proceeds of NetBank transfers For security reasons we may place a hold on funds transferred through NetBank 6 Youthsaver Limited access for under 16s You must obtain the consent of your parent or guardian who to your account from an unlinked Commonwealth Bank account. The hold may apply until the next business day (or if signed the application to open the account, to gain full access to your Youthsaver including access via the transfer occurs on a non-business day or after 11 pm (Sydney time) on a business day, until the second following Keycard, Telephone Banking or NetBank and to make withdrawals or arrange a direct debit or periodical payment business day) or longer if the Bank needs to investigate the transaction. authority. If access is not provided for under 16s, the parent/guardian must sign for each withdrawal. 3 Daily limit on Electronic Banking withdrawals Daily limits apply, refer to pages 43 (limit on transfers) and 50 (limit On turning 16, you can request full access to your Youthsaver (s) without written consent of your parent or on cash withdrawals and EFTPOS purchases) for further details. guardian. Parents/guardians should note that if you give consent for your child under 16 to gain full access to their 4 Cash withdrawals at a branch, Australia Post and authorised agencies If you have a passbook account Youthsaver or to open a Streamline account, you acknowledge that they also have full authority to operate (Pensioner Security or Savings Investment ), withdrawals can be made at a branch of the Bank any other Youthsaver in their name, whether existing or opened in the future. Access to NetBank may be provided your signature is recorded in your passbook. You must present your passbook when making a withdrawal, limited for customers under 16 years of age. BPAY facilities are only available through NetBank. Please refer to pages unless you withdraw by using Electronic Banking. For Youthsaver customers only, access to your account through 6 to 9 for additional restrictions on your account. Australia Post and authorised agencies is via your Keycard. 7 NetBank Saver You are not allowed at any time to make withdrawals at any branch of the Bank, through For passbook account holders, you may make withdrawals up to a maximum of $1,000 in any 7 day period at selected the Bank s automatic teller machines or at agencies of the Bank. Withdrawals must be made by transferring funds to offi ces of Australia Post and at certain other authorised agencies of the Bank. Withdrawals made by you at Australia a linked Commonwealth Bank Smart Access, Complete Access or Streamline in your name using the Bank s Post offi ces and authorised agencies may take up to 3 days to be recorded in the Bank s books of account. We record Internet banking service (NetBank) or Telephone Banking. the transaction as having been made on the date of the withdrawal at the agency. However, you may not draw against 8 Existing account holders only No longer available for sale. an agency deposit until the deposit is recorded. The proceeds of any cheque included in a deposit are not available 9 Includes the High Performance Cash (no longer available for sale). until the cheque is cleared. 10 Withdrawals from passbook accounts cannot be made at some branches opened after 1 August Please call 20 5 Passbook accounts If you deposit a cheque or other payment instrument to a passbook account, no transfers or to check availability. 21

15 Section 2: Opening and operating your Transaction, Savings and Investment accounts Cancelling or altering a direct debit authority or periodical payment 1 You may give us a written instruction to cancel a direct debit authority or periodical payment authority. We will accept and promptly process such an instruction and any complaint from you that a direct debit or periodical payment transaction was unauthorised or irregular. We may ask that you also contact the debit user. We may cancel or stop any direct debit or periodical payment authority when payment arrangements no longer comply with the terms of the account authority signed by you. Overdraft facility (Smart Access, Complete Access or Streamline only) Provided you are 18 years or over, you may apply to us for establishment of an overdraft facility on your Smart Access, Complete Access or Streamline. There is no minimum or maximum limit for a secured overdraft. Other Terms and Conditions apply to the conduct of an overdraft on your Smart Access, Complete Access or Streamline and these will be provided to you for your reference if we approve your application and offer you an overdraft facility. If you migrate from one type of account to another (e.g. from a Streamline to Smart Access), your overdraft will continue to apply to your new account type. Smart Access and Complete Access ATMs and EFTPOS terminals may ask you to choose between the credit or savings option (see page 37 for information to help you choose). Choosing the credit option does not provide you with any credit in respect of the account. Debit balances in your account If you make any withdrawal or other payment (e.g. by cheque) or transact on your account by any means which would cause a debit (negative) balance in your account, this is known as overdrawing your account. If you have an overdraft facility and try to make any withdrawal transaction which would cause the agreed overdraft limit to be exceeded or you have no overdraft facility and try to make any withdrawal transaction which would cause an overdrawing of your account, we are not required to honour your cheque or allow any withdrawal transaction which would cause you to overdraw your account or to exceed your agreed overdraft limit. However, we will be entitled to charge a fee as described below, depending upon what we do in relation to the cheque or withdrawal transaction. If we do allow you to overdraw your account or to exceed your agreed overdraft limit: the amount by which your account is overdrawn will be treated as an advance by us to you and you will owe us a debt of that amount; you must repay that advance and any interest charged within 62 days, unless we make a different arrangement for repayment with you (for Youthsaver s the advance must be repaid without delay); we apply any payments to your account fi rst in repayment of that advance and any interest charged; except for Youthsaver s or unless you are under 18 years old or hold the account in trust for someone who is under 18 years old, you must pay us interest on that loan at the prevailing rate for debit balances. The interest will be calculated daily and charged to your account: monthly on the fi rst business day of each month and when the account is closed for Smart Access or Complete Access accounts, Streamline, Cash Management Call and Cash Investment ; quarterly on the fi rst business day in January, April, July and October and when the account is closed for Pensioner Security, AwardSaver, NetBank Saver and Savings Investment. We are entitled to charge an Overdrawing Approval Fee (refer to page 68 for details of this fee). If we do not allow you to overdraw your account or to exceed your agreed overdraft limit, we are entitled to charge a Dishonour Fee (refer to page 69 for details of this fee) for processing the disallowed withdrawal transaction. Combining your accounts You agree that the Bank may combine or set-off the balance of this account with any other on-demand account or with any loan account for which the Bank holds security that you have or may have in the future with us. The Bank s rights under this Clause do not extend to any account which has a facility which is regulated by the Uniform Consumer Credit Code. In such cases, the Bank may still exercise its banker s right of account combination. The Better Banking Book contains more information on the consequences of account combination. If the Bank elects to combine your accounts, it will observe any applicable requirements of the Code of Operation for Centrelink Direct Credit Payments. Passbooks It is important that you tell us as soon as you become aware that your passbook has been lost or stolen. You may be liable for the unauthorised transactions that occur on your account if it can be shown that you unreasonably delayed telling us of the loss or theft. Please check your passbook for unauthorised transactions and report them to the Bank as soon as possible. Refer to page 83 for contact details. 1 Youthsaver If you are under 16 years of age and wish to alter or stop the payment and if you have not obtained full access to your account, you will need to obtain the written consent of the parent/guardian or other adult 22 who signed the application to open the account. The Bank will only cancel or stop the regular payment arrangement provided you obtain such written consent. 23

16 Section 2: Opening and operating your Transaction, Savings and Investment accounts What interest can you earn? If you have a credit balance in your account, you may be entitled to receive interest and bonus interest, depending on the type of account. Information about the interest rates is in the separate Interest Rates on Transaction, Savings and Investment s brochure. Interest rates are variable and may be changed by us at our discretion. To obtain a current version of the Interest Rates on Transaction, Savings and Investment s brochure, call or visit any of our branches or our web site. TRANSACT SAVE PARK/INVEST How interest is calculated Smart Access and Complete Access Streamline Pensioner Security AwardSaver Youthsaver NetBank Saver Savings Investment (existing account holders only) Cash Management Call (existing account holders only) 1 Cash Investment Interest is paid on a credit balance of $1 or more. Interest is paid on the full balance, provided the balance is $5,000 or more. Interest is calculated on the daily closing balance and credited on the fi rst business day in March, June, September and December and when the account is closed. Interest is calculated on the daily closing balance and credited on the fi rst business day of each month and when the account is closed. Tiered interest rates receive the interest rate on your entire account balance as your balance increases from one tier to the next. Bonus interest on credit balances of $1 or more if you make at least one deposit and no withdrawals in a calendar month. (Refer to table below) Pensioner Security s and deeming thresholds With Pensioner Security s, interest rates vary according to account balance tiers. Except for the fi rst tier, we structure our tiers according to the Federal Government s deeming thresholds. The Government regularly adjusts deeming thresholds and if it does, we automatically adjust our second and third tiers in line with its changes. Tier 1 Tier 2 Tier 3 Less than $2,000 From $2,000 up to and including the Amount above the Federal Federal Government s deeming Government s deeming threshold Note Please contact any branch of the Bank if you do not wish to have interest paid to your account and wish to make threshold for single persons. for single persons. 24 other arrangements. 1 Also applies to the High Performance Cash (existing account holders only). 25

17 Section 2: Opening and operating your Transaction, Savings and Investment accounts Your account statement When we will send you an account statement Smart Access and Complete Access Streamline 1 Pensioner Security (Keycard/Cheque option) 2 Pensioner Security (Passbook option) 3,4 AwardSaver Youthsaver NetBank Saver Savings Investment 3, 4 Cash Management Call 4,5 Cash Investment Frequency of statement (standard cycle) Every 3 months Every 3 months Every 3 months N/A Every 6 months Every 6 months Every 6 months N/A Every 3 months Every 3 months You should retain all transaction records to enable you to verify entries. Check these entries for accuracy as soon as you receive your statement. Report any unauthorised transactions to the Bank as soon as possible. The date which appears on the transaction record may vary from the date that appears on your statement of account. This is due to the fact that transactions completed on non-business days and after cut-off time on business days (typically mid to late afternoon) may be held over to be processed on the next business day. If you have a query regarding any entries on your statement, you should call Changes to your Terms and Conditions Various features of your account may be changed from time to time, including the fees applicable, interest rates and Terms and Conditions. The Bank reserves the right to vary the Terms and Conditions in this brochure. We may also give you notice of the variation with an account statement (as applicable). The following table indicates how we will advise you of any changes: Change Minimum number of days notice Method of notice How we give you account statements and notices We provide statements and notices: By post to your home or nominated postal address, unless we agreed to provide statements and notices electronically (for joint accounts, we will send one statement and notice addressed to all account holders where they live at the same address, or otherwise to the nominated postal address or addresses); or Electronically through our NetBank service. If you request, and we agree, we will stop posting paper statements and notices to you and instead provide them through NetBank. When a statement or notice is ready to view we tell you by sending an to your nominated address. To receive statements and notices electronically an account holder must be registered to use NetBank and tell us their address How to find out what is in your account You can fi nd out the balance in your account(s) or ask for a statement at any time by calling For some accounts this information is available from ATMs. We may charge a fee for duplicate statements and for additional/separate statements issued outside the standard cycle shown in the table. The amount of this fee is detailed on page 70 in Section 4 of this brochure Fees and charges. Introduce a new fee or charge. 30 days In writing 1 unless we cannot locate you. Increase an existing fee or charge. 30 days In writing 1 or by advertisement in the national or local media. Change the interest rate. Change the method by which interest is calculated or the frequency with which interest is debited or credited. Change the balance ranges within which interest rates apply to the account. Change the minimum balance to which an account keeping fee applies. Change any other term or condition. Introduction or variation of any Government tax or charge. No later than the day of change In writing 1 or by advertisement in the national or local media. 30 days In writing 1 unless we cannot locate you. 30 days In writing 1 unless we cannot locate you. 30 days In writing 1 unless we cannot locate you. No later than the day of change Not applicable In writing 1 or by advertisement in the national or local media. In writing 1 or by advertisement in the national or local media. 2 1 If the Streamline holder is under 18 years of age, we send a statement every 6 months rather than every 3 months. 2 Pensioner Security s (Keycard/Cheque option) will be considered inactive when no customer-initiated transactions are made for 6 consecutive complete calendar months and statements will be issued every 6 months. When a customer-initiated transaction is made, the statements will revert back to the standard cycle. 1 If we agreed with you to provide statements and notices electronically, we may provide the notice electronically on 3 As transactions are recorded in your passbook, we do not issue statements. our NetBank service and send to your nominated address an notifi cation that the notice can be retrieved 4 Existing account holders only no longer available for sale. from NetBank Includes the High Performance Cash (existing account holders only no longer available for sale). 2 Unless the Government, Government agency or representative body has already publicised the introduction or variation. 27

18 Section 2: Opening and operating your Transaction, Savings and Investment accounts Customer information and privacy Collection and verification of customer information Customer information is information about a customer. It includes personal information. The law requires us to identify our customers. We do this by collecting and verifying information about you. We may also collect and verify information about persons who act on your behalf. The collection and verifi cation of information helps to protect against identity theft, money-laundering and other illegal activities. We use your customer information to manage our relationship with you, provide you with the products and services you request and also to tell you about the products and services offered by the Commonwealth Bank Group ( Group ), affi liated providers and external providers for whom we act as agent. If you have given us your electronic contact details, we may provide marketing information to you electronically. The collection and verifi cation of customer information may be carried out in different ways and we will advise you of the most acceptable methods of doing this. We may disclose your customer information in carrying out verifi cation e.g. we may refer to public records to verify information and documentation, or we may verify with an employer that the information you have given us is accurate. verify includes your full name, date of birth and residential address. If you are commonly known by two or more different names, you must give us full details of your other name or names. If you are a company, we may collect and verify information, including company incorporation and registration details, as well as details of the company s offi cers and its major shareholders. If you are acting as a trustee, we may ask you for, amongst other things, information on the benefi ciaries of the trust and evidence of the existence of the trust. If you are a partnership, we may require information including evidence of the fact that the partnership exists, as well as the full name of the partnership, the names of the partners and any business name owned by the partnership. For other organisations, the kind of information we collect and verify will depend on the type of organisation you are. In addition, during your relationship with us, we may also ask for and collect further information about you and about your dealings with us. You must provide us with accurate and complete information. If you do not, you may be in breach of the law and also we may not be able to provide you with products and services that best suit your needs. We disclose customer information to other members of the Group (including overseas members), so that the Group may have an integrated view of its customers and to facilitate the integrated treatment of its customers. It also enables other members of the Group to provide you with information on their products and services. Other disclosures At common law, banks are permitted to disclose customer information in the following circumstances: (a) where disclosure is compelled by law; or (b) where there is a duty to the public to disclose; or (c) where our interests require disclosure; or (d) where disclosure is made with your express or implied consent. So that we can manage our relationships, customer information may be disclosed to: brokers and agents who refer your business to us; any person acting on your behalf, including your fi nancial adviser, solicitor, settlement agent, accountant, executor, administrator, trustee, guardian or attorney; fi nancial institutions who request information from us if you seek credit from them; if you have borrowed from the Bank to purchase property: valuers and insurers (so that the Bank can obtain a valuation of your property, and confi rm that it is insured); if you have insurance: medical practitioners (to verify or clarify, if necessary, any health information you may provide), claims investigators and reinsurers (so that any claim you make can be assessed and managed), insurance reference agencies (where the Bank is considering whether to accept a proposal of insurance from you and, if so, on what terms); and organisations to whom we may outsource certain functions. In all circumstances where our contractors, agents and outsourced service providers become aware of customer information, confi dentiality arrangements apply. Customer information may only be used by our agents, contractors and outsourced service providers for our purposes. We may be required to disclose customer information by law, e.g. under Court Orders or Statutory Notices pursuant to taxation or social security laws or under laws relating to sanctions, anti-money laundering or counter-terrorism fi nancing. We may send customer information overseas if: that is necessary to complete a transaction; or we outsource certain functions overseas. We may also be permitted, as distinct from required, to disclose information in other circumstances. For more information, please refer to our Privacy Policy. Depending on whether you are an individual Protecting customer information or an organisation, the information we collect We comply with the National Privacy will vary. For instance, if you are an individual, Principles as incorporated into the Privacy the type of information we may collect and 28 Act 1988 (Cth). 29

19 Section 2: Opening and operating your Transaction, Savings and Investment accounts Access to your personal information The law allows you (subject to permitted exceptions) to access your personal information. You can do this by contacting: Customer Relations Commonwealth Bank Reply Paid 41 Sydney NSW 2001 We may charge you for providing access. Further information For further information on our privacy and information handling practices, please refer to the Group s Privacy Policy, which is available at commbank.com.au or upon request from any branch of the Bank. What if you have a complaint? We aim to provide excellent customer service. If you think we have failed, you should let us know promptly so that we can try and put things right. Also, by telling us where you think we have failed, we will be able to provide you a better service in the future. To assist you, we offer free internal and external avenues to deal with your concerns. What you should do if you want to make a complaint or dispute our decision Prepare your complaint Is the problem about general banking or Electronic Banking? Get all your supporting documents ready. Decide what you want us to do. Make your complaint Let us know by lodging your complaint at either a branch (preferably where you have your account) or by calling (24 hours a day, 7 days a week). Our staff will fully review the situation and, if possible, try to resolve it straight away. Not happy with the outcome? Please contact our Customer Relations Team if your complaint has not been resolved to your satisfaction (refer to page 84 for contact details). We will provide contact details of the offi cer dealing with your complaint. We aim to resolve the matter within about 4 days. However, some complex matters might take longer. We will keep you informed of our progress. For Electronic Banking, our Customer Relations Team will provide you with a complaints form, which you should complete and return to us. We will acknowledge your complaint, investigate and report back to you within 3 weeks. We may ask for more time, but we will keep you informed of the reasons for the delay. Unless there are exceptional circumstances, in which case we will write to let you know, we will complete our investigation within 45 days of receipt of the complaint. If we are unable to resolve a complaint within 45 days, we will inform you of the reasons for the delay, and provide you with monthly updates on the progress with the complaint and specify a date when a decision can be reasonably expected, unless we are waiting for a response from you and you have been advised that we require the response. BPAY If we conclude that your account has been incorrectly debited or credited, we will, where appropriate, adjust your account (including any interest and charges) and let you know in writing of the amount with which your account has been debited or credited. If we fi nd that your account has been correctly debited or credited or, in the case of an unauthorised transaction, that you are liable for the loss or part of the loss, we will give you copies of any document and/or other evidence on which we based our fi nding. If any BPAY payment was made as a result of a mistake by you and, after 20 business days we are unable to recover the payment from the Biller or any other person who received it, you must pay us that amount. You should then pursue the matter with the Biller or the person receiving the payment. We are not liable if any retailer refuses to accept a card, PIN, password or other code. If you wish to dispute our decision, you may contact the Ombudsman If you are not satisfi ed with the decision of our Customer Relations Department or if more than 90 days have elapsed since you contacted Customer Relations, you may contact the Financial Ombudsman Service. The Financial Ombudsman Service is an impartial, independent and free alternative dispute resolution scheme for disputants. Please refer to page 84 for contact details. No claim to the Ombudsman is possible if: the matter involves an amount of more than $280,000; or the matter is a commercial decision by the Bank, such as whether a loan is approved; or the matter is about the Bank s general policy or practice, such as the level of interest rates or fees. Electronic Banking Only On completion of our investigation, we will write to you telling you of the outcome of the investigation, our reasons for the outcome, including the provisions of the Terms and Conditions that we considered during our investigations. If you are not satisfi ed with our decision, you may ask us to have our senior management review the matter. If we fail to make the proper allocation of liability or we fail to keep to the complaint investigation and resolution procedures set out in this brochure or we fail to communicate the reasons for our decisions and our failure harms the outcome of your complaint or results in unreasonable delay in its resolution, we will accept liability for the full 30 amount of the transaction which is the subject of your complaint. 31

20 Section 3: Card and electronic access to your account This section, in conjunction with Section 2 of this brochure, forms the Terms and Conditions of the contract between you and us if you decide to open an EFT account. These Terms and Conditions become binding once we give you (or any other user) and you (or that other user) accept the access method. As from that time, we and you undertake to keep to the Terms and Conditions. Part A: Overview of e-banking What is Electronic Banking? Ways to access your account We explain the meaning of the term Electronic Banking (e-banking) and what conditions apply when you make transactions through electronic equipment. Find out more about the e-banking services available to you. Part B: Special conditions relating to Debit MasterCard (for Smart Access and Complete Access accounts only) Choosing between the credit and savings option Transactions on your Smart Access or Complete Access account How to tell us if you think there is a mistake or wish to claim a chargeback We explain when you can choose the credit or the savings option to access your funds. Find out more about authorisations, recurring transactions and refunds. What you must do to claim a chargeback and when the right to claim is available. Page 33 Page 35 Page 37 Page 37 Page 38 Secure chip technology Find out more about the secure chip technology Page 39 on your Debit MasterCard. PayPass Tap & Go Find out more about PayPass Tap & Go. Page 40 Part C: Special conditions relating to Internet Banking and Phone Banking Special conditions for using NetBank and VoIP Making e-banking transactions Conditions of use for BPAY What you agree to when using BPAY View Find out more about using NetBank and VoIP, including passwords. Why it is important to enter correct information. We also tell you about scheduling payments and transfers, when we process e-banking transactions and what happens if electronic equipment does not work. Terms and conditions that apply when you use BPAY to pay your bills. Terms and conditions that apply when you use NetBank to access bills using our BPAY View facility. Page 40 Page 42 Page 45 Page 46 Part D: General conditions Cards, PINs, passwords and Devices Electronic communication Safeguarding against unauthorised access to your account Liability for transactions Changes to Terms and Conditions for card and electronic access Find out more about account access methods. Page 49 Find out how you can elect to receive notices and account statements electronically if you are a NetBank user and tell us your address. What you must do to protect your account. Find out more about safeguarding cards, PINs and passwords. We explain when you are liable for electronic transactions on your account and your liability in the event of unauthorised transactions. When we tell you about any changes we may make to your Terms and Conditions in this Section 3 and how we keep you informed. For the meanings of key words included in this section, refer to Meanings of words on pages 80 to 82. Part A: Overview of e-banking What is Electronic Banking? Card and electronic access (e-banking) provides you with a range of banking services that utilise a card or electronic equipment and include the following: Debit MasterCard; Keycard (debit card); NetBank (Internet banking); Telephone Banking; ATM; EFTPOS terminals; BPAY and BPAY View; Maestro/Cirrus, MasterCard and Visa Plus networks; AFT (Automated Funds Transfer); and Deal Direct. 1 Regular system upgrades may limit access to your accounts through some services Page 51 Page 52 Page 55 Page 59 E-banking offers the convenience of conducting most of your banking transactions at a time that suits you. You can access funds and transfer funds between accounts, pay bills and make purchases 24 hours a day, 7 days a week. 1 We rely on the operations of our computer and telecommunication systems and those of our partners. Consequently, disruptions to these operations may cause e-banking services to be unavailable from time to time.