General Terms and Conditions

Transcription

1 General Terms and Conditions 1 July 2016 Summerland Credit Union Limited ABN AFSL Australian Credit Licence BSB

2 Contents SUMMARY OF IMPORTANT INFORMATION... 1 Contact us... 1 Missing Cards and Compromised PIN/Passcodes... 1 Unauthorised Transactions... 1 Changing your PIN... 2 Financial Claims Scheme... 2 Financial Difficulty... 2 MEMBERSHIP... 3 Becoming a Member... 3 Member Share... 3 Proof of Identity... 3 Tax File Numbers... 4 Foreign Account Tax Compliance... 5 Changing your details... 5 Power of Attorney... 6 Statements... 6 Closing your Membership... 7 Deceased Customers... 7 ACCOUNT OPERATION... 8 Opening Accounts... 8 Signatories... 8 Deposits... 9 Withdrawals or Transfers Bank@Post Insufficient Funds & Overdrawing Your Deposit Account Contractual Set-Off & Right to Combine Accounts Provision of Credit Fees and Charges Order of Payments Transaction Limits Cut-Off Times Mistaken Internet Payments Disruption to Service Dormant Accounts Interest Calculation Joint Accounts V i

3 Trust Accounts Accuracy of Information Corrections Closing your Account LIABILITY FOR UNAUTHORISED TRANSACTIONS CARDS Card and PIN Security PIN Using the card Visa Zero Liability Using the Visa card outside Australia Additional cardholders Cash Advances Credit Cards Balance transfers Credit Cards Interest free period on purchases Credit Cards Statement of account Credit Cards Repayments Multi-currency cash passport Pre-authorisations Report Loss, Theft or Unauthorised use of the card or PIN Cancellation and return of the card Use after cancellation or expiry of the card Disputed Transaction Chargeback Rights Notification Procedures for disputed transactions Malfunction Transaction slips and receipts Card Switching INTERNET, MOBILE AND PHONE BANKING Access Establishment Passcodes Features Passcode and personal computer security Unauthorised Access Operation Authorised Representative Future-Dated Electronic Payments Transaction Recording Refusing Payment Directions V ii

4 Ancillary Equipment Cancellation of Access BPAY BPAY Mistaken Unauthorised Payments Fraudulent Payments Disruption to Service Privacy BPAY View Use of BPAY View BPAY View Billing Errors SMS Secure SMS SMS Alerts & Requests Your Mobile Phone Fees DIRECT CREDITS AND DEBITS Direct Credits Direct Debits Direct Debit Outwards (QuickDebits) PayPal TRANSFERS Auto Transfers Date of Payments Real Time Gross Settlements (RTGS) Inwards Outwards International Transfers Inward International Transfers Outwards FIXED TERM DEPOSITS Establishment Interest Maturity Depositing or Withdrawing Funds CHEQUES Operation of Chequing Facility V iii

5 Security of Your Cheque Book Responsibility for Completion Crossing a Cheque Deleting Or Bearer Liability Dishonoured Cheques Stop Payments Cheque Clearance Inward Cheque Dishonours Financial Institution Cheques GENERAL Precedence of Terms and Conditions Changing Terms and Conditions Notice of changes Notices and Electronic Communication Industry Codes Anti-Money Laundering and Counter Terrorism Financing Requirements.. 62 Privacy If you Want to Make a Complaint How to contact the Financial Ombudsman Service (FOS) Insurance Policy Complaints IMPORTANT DEFINITIONS PRODUCT FEATURES MATRIX ACCOUNT ELIGIBILITY This document provides information about the full range of deposit products, electronic access facilities such as cards, BPAY, Internet, Mobile and Phone banking and other services that we offer. Please note that by opening a deposit account or associated service you become bound by these terms and conditions. If you are a member of Summerland you also have the rights and obligations imposed by our Constitution, which is available on our website at summerland.com.au Summerland provide products and services to football clubs, players and their supporters through our Banking Solutions for Football Fans initiative. Please read this document entirely and ask us about any issues that concern you. Keep this document in a safe place so that you can refer to it when needed. You may also obtain a copy from our website. V iv

6 Summary of Important Information Contact us Phone (overseas ) Visit Summerland branches Mail PO Box 657 Lismore NSW [email protected] Fax (02) Website summerland.com.au Internet banking summerland.com.au/ib Phone banking SMS FaceBook fb.com/summerlandcu Instagram instagram.com/summerland_cu Missing Cards and Compromised PIN/Passcodes If your card is lost or stolen and/or your PIN is compromised or divulged you must immediately notify us to provide any information about how the loss/incident occurred. You can do this by calling us or updating your card status in internet banking. In relation to Internet, Mobile or Phone banking, unauthorised use of your passcode should be reported to us immediately. If you suspect that someone else has used your passcode, knows your passcode, or you have written your passcode down and lost it, you should tell us and change it as soon as possible. Unauthorised Transactions If you believe there has been an unauthorised transaction on your account, please notify us immediately. V

7 Changing your PIN You may change your PIN as frequently as you wish at any Summerland ATMs located at selected branches or at a select list of Cashcard ATMs (refer to our website), as long as you know your current PIN. If you do not remember your PIN we have PIN change terminals at our Lismore and Kingscliff branches or alternatively call us and we can issue a new PIN to you. Financial Claims Scheme The Financial Claims Scheme may apply to deposit products described in this booklet. If this is the case, an account holder may be entitled to payment under the Financial Claims Scheme, subject to a limit of $250,000 per customer. Further information can be obtained from the APRA website at and the APRA hotline on Financial Difficulty If you ever experience financial difficulty you should inform us promptly. With your agreement and commitment, we will try to assist you to overcome these difficulties. V

8 Membership Becoming a Member You may be a shareholding or non-shareholding member. As shareholding member of Summerland you are entitled to vote at members meetings, including the election of member representatives to serve on the Board of Directors. Minors are unable to vote. Providing our membership opening requirements are satisfied, you can open an account as an individual, company, body corporate, club, association, business or a trust. Member Share A member share in Summerland will be provided to you when your membership application is accepted. If you purchased your share for $10 (prior to 1 January 2015), it will still retain that value. Previous Queensland Community Credit Union member shares retain their $1 value. Proof of Identity The law requires us to verify your identity when you establish a customer relationship, as well as the identity of any person you appoint as signatory to your account. In addition to this, if your membership is for a company, partnership association or trust, we will need to identify any Beneficial Owners of the membership. In most cases, you can prove your identity by showing us one of the following photo identification (ID) documents: a State or Territory drivers licence; a photo ID card issued by a State or Territory; a current Australian current passport or one that has expired within the last 2 years. If you do not have any photo ID, please contact us to discuss what other forms of identification may be acceptable. We may need to collect additional information from you in order for us to comply with the Anti-Money Laundering and Counter Terrorism Financing Laws. V

9 The law does not allow you to establish a customer relationship or operate an account using a false name. However, if you are commonly known by more than one name you must give us all the other names you use. This also applies if you are a signatory to the account. If any signatories to an account are not identified, funds may not be withdrawn from the account until identification is provided or the signatory is removed. Accounts may be closed if adequate identification is not provided within 14 days. Tax File Numbers When you open a membership you will be asked to provide your Tax File Number (TFN). By supplying us with your TFN details, you authorise the use of the quoted TFN or TFN exemption for all your accounts with us. You may provide your business TFN or your Australian Business Number (ABN) as an alternative for a business account. Providing your TFN is advisable but not compulsory. If you choose not to provide it, we are required to deduct withholding tax at the highest marginal income tax rate plus the Medicare levy whenever you earn interest income above the Australian Tax Office (ATO) prescribed TFN withholding thresholds. These thresholds are: Adult: $ per annum Child*: $ per annum *For TFN withholding tax purposes, the ATO defines a child as being under 16 years until the end of the calendar year in which they turn 16. Where interest income is paid for a period of less than a year, Summerland is required to use the following formula to calculate the daily threshold from the annual threshold: Number of days in the period threshold 365 days For example the monthly threshold for the account holder if under 16 years would be: (30 x $420)/365 = $35. Summerland is required to report details of interest income earned, withholding tax deducted and TFNs quoted on accounts to the ATO. V

10 Unless required by law, we will not refund to you any withholding tax after we have deducted it, or reported to the ATO that we have deducted it, from your interest credits. Pensioners and others who are not required to lodge tax returns are able to claim an exemption from having to supply a TFN. If you live outside Australia and do not have an exemption, you must pay non-resident withholding tax on any interest your account earns. You can ask the ATO for an exemption if you are living overseas temporarily or if you are a member of the armed forces serving overseas. If you have an approved exemption you should tell us. For more information about TFN regulations, contact the ATO on , or visit their website at Foreign Account Tax Compliance To comply with our legal obligations under the United States Foreign Account Tax Compliance Act and associated local laws, we may ask you to provide us with certain information if you are, or on the balance of probabilities might be, a US resident for tax purposes. We may report details about your accounts and about you to the ATO, who may in turn pass the data on to the US Internal Revenue Service. Changing your details Summerland is committed to ensuring the personal information we hold about you is accurate and up to date. You must tell us promptly if you or any person authorised to make transactions on your account changes name, signature, residential, postal or address or phone number. We may require you to tell us in writing. For any name changes, we may request to see the following documentation: a marriage certificate; or the relevant original signed deed poll; or drivers licence. If an organisation, business or corporation changes its name or account signatories, depending on the structure of the entity, we require a certified copy of the: change of name certificate and current business or company search; resolution of the meeting of the organisation which decided on a change of name; or minutes of meetings, resolutions or some other satisfactory evidence. V

11 If we become aware of any changes to your details we can take reasonable steps to amend our records without notice to you. If the account owner is a company, partnership or incorporated association we may accept requests from the company, partnership or incorporated association in the way the rules of the company, partnership or incorporated association or the law allows. If you wish to alter account authorisation instructions then you must notify Summerland in writing. Power of Attorney You can appoint a person to be your attorney under a Power of Attorney to transact on your account. We must be presented with the original or a certified copy of the original Power of Attorney before an attorney can open an account or access an account. We may also require further evidence to satisfy us that the Power of Attorney is valid and in force. We will also require the attorney to satisfy our identification procedures. You must tell us as soon as possible if you cancel or revoke the Power of Attorney, or if it otherwise ends. If you do not tell us about this, we will treat the Power of Attorney as current. Summerland will not establish a new customer relationship under a Power of Attorney. Statements We will provide you with a statement for your membership at least every six (6) months, or monthly for accounts that have a Visa card or a prearranged credit facility attached, such as a line of credit or overdraft. We will provide statements more frequently if required by law, or at your request. If you register for internet banking, we will make your statement available to you within internet banking and cease to send you statements via post. This can be changed at any time by clicking the estatements button within internet banking and following the prompts. V

12 We will send you an informing you that the statement is ready to be viewed. An notification will be sent to your address that is stored in internet banking. You are responsible for updating this or notifying us of any changes. You should check your statements carefully and tell us immediately if there are any errors. You should retain your statements for your records and for taxation purposes, as a fee will apply if you request additional or replacement statements. Previous statements are also available within internet banking. Closing your Membership If you close a membership held solely in your name, only your signature is required. A Power of Attorney, Executor or Guardian may sign if supporting documents are provided. There may be additional requirements if you wish to close your joint membership, or a non-individual membership. Summerland reserves the right to close any individual account or membership. If this occurs, Summerland will advise you by giving you no less than fourteen (14) days notice in writing. Deceased Customers When Summerland is advised of the death of a customer, we will take the following steps. If the account is held in one name or if it requires more than one signature, one of which is the deceased person, the account will be frozen to all transactions until such time as the required documentation is provided by the next of kin, executor, or the estate s legal representative. If the account is held in more than one name and the signature of the deceased person is not required for withdrawals, the account may either be transferred into the surviving party s name or closed upon production of a certified copy of a document proving the death. If the account has an authorised signatory or Power of Attorney, this authority will be cancelled. If a member has a business account the procedures above may apply depending on the structure of the account. V

13 Summerland will only release funds to the person legally entitled to them, as proven by the production of a Grant of Probate or in some circumstances a Statutory Declaration. Other requirements may also apply. Account Operation Opening Accounts When opening an account with us we permit you to: operate the account; deposit money into the account; invest money in the account; negotiate any cheques made payable to you; draw and sign cheques (and stop payment on cheques); and give instructions as to the disposal of interest. We reserve the right not to accept an application to open an account for any reason. Statutory Trust Accounts will be opened in accordance with the law applicable to that type of account. Customers opening Statutory Trust Accounts must ensure they comply with all applicable legislation in the management of that account. Signatories At the time of opening, or during the operation of your accounts, you may nominate the person(s) who are authorised to operate your accounts. These will be known as signatories. Signatories to accounts may be shareholding or non-shareholding members. Summerland will act on the basis that the authorised signatories can act fully and effectively in all dealings, matters and transactions in respect of the account, with the exception of obtaining credit. You are responsible to Summerland for all liability that is incurred as a result of operations on the accounts by yourself or the authorised signatories. V

14 Deposits There are a number of ways to deposit funds to your account. Option Detail In branch To deposit cheques, money orders or cash to your account over the counter, or to transfer funds between accounts. Auto Transfers To make regular payments or regular deposits to another account. Bank@Post To deposit money into your account at a participating Australia Post Office. You will require an eftpos or Visa card and a PIN. Internet Banking To transfer funds between your accounts or to an internal or external account using a device with internet access. Mobile Banking To transfer funds between your accounts or to an internal or external account using a smartphone with internet access. Phone Banking To transfer funds between your accounts via phone. Direct Credit To arrange for a deposit to be paid into your account automatically (e.g. wages). To obtain funds from your account held at another financial QuickDebit institution. The account must be in exactly the same name as the account held at Summerland. RTGS To arrange for a deposit to be made to your account from an account held at another institution on the same day subject to cut-off times. Agency Deposit To deposit funds to your account through another financial institution using your BSB and account number. If a deposit is made at another financial institution, there may be a delay of several days before your account is credited with the deposit and that financial institution may charge a fee for this service. V

15 Withdrawals or Transfers There are a number of ways in which you may withdraw or transfer funds from your account. Option Detail A convenient way to withdraw cash. You will require an eftpos or Visa debit card and a PIN. Use of Summerland or Westpac ATMs, which include St George, BankSA and Bank of Melbourne ATMs, is encouraged so no direct charge is incurred. ATM If using your Visa credit card to withdraw cash from an ATM this is a cash advance and fees will apply as per your credit contract. Auto Transfers Bank@Post BPAY In Branch Direct Debit Cheque Internal Funds Transfer Internet Banking Mobile Banking RTGS Customer-only ATMs are provided in both the Lismore and Casino branches for use with Summerland cards. To make regular payments from, or regular deposits to another account. To withdraw money from your account at a participating Australia Post Office. You will require an eftpos card or Visa card and a PIN. Bills featuring the BPAY logo can be paid directly from your account using Internet, Mobile or Phone Banking. Withdraw cash or transfer funds. Identification will be required to verify your signature. Withdrawal and transfer forms may need to be signed by the authorised signatory or signatories to the account. If signatures do not match our records or the number of signatories is not in accordance with our records, we may refuse to process the withdrawal or transfer. We can ask for identification including passcodes set up for this purpose. An overseas payment facility is also available. Established by you with a third party to allow you to make an electronic payment to that third party. To draw cash from a Summerland branch or to withdraw funds from your account to pay a third party. To transfer funds between your own accounts. To transfer funds between accounts or to accounts at other financial institutions using a device with internet access. To transfer funds between accounts or to accounts at other financial institutions using a smartphone with internet access. To transfer funds to accounts held at other institutions with funds reaching the destination account on the same day subject to cutoff times. V

16 Different fees apply to different types of withdrawals. Please refer to the Schedule of Fees and Charges for details. Summerland may allow you to make withdrawals or debits to your accounts in other ways. If we do, Summerland can impose further terms and conditions for those withdrawals or debit arrangements. Please note: If you use an ATM other than Summerland or Westpac Network ATMs, a fee will be charged by the owner of that ATM directly. The Westpac network includes St George, BankSA and Bank of Melbourne ATMs. Bank@Post Bank@Post is an agency banking service offered at over 3,500 participating Post Offices across Australia. It allows you to use your eftpos or Visa card to make deposits or withdrawals. Please note that cheques deposited as part of a Bank@Post deposit take seven (7) business days to appear in the available balance in your account. Limits apply to the amount of cash and cheque deposits and withdrawals. Refer to the Transaction Limits section in this booklet. Insufficient Funds & Overdrawing Your Deposit Account Your funds are available whenever you need them, except where there are uncleared cheque deposits; funds lodged in Fixed Term Deposits; outstanding Visa card authorisations; blocked accounts; or credit funds not yet available. If you do not have the available cleared funds in your account to cover a transaction, we can dishonour the transaction (a dishonour fee will be charged); process the transaction even if this means that your account becomes overdrawn (an honour fee will be charged); or draw money from your other accounts to enable the transaction to be paid, even if this means your account remains overdrawn. V

17 We are not liable to you or any other person if we decide to process a transaction that overdraws your account, or if we dishonour a transaction. We may decide whether we pay or dishonour each transaction individually. If your account is overdrawn as a result of us honouring a transaction, you must rectify the account immediately by paying us the overdrawn amount. If you do not, we will charge interest calculated on the daily balance of your account at our overdrawn account interest rate disclosed on our Savings Interest Rate Schedule. We will debit interest to your account at the end of each month, or if closing the account, on the day the account is closed. You agree to pay reasonable enforcement expenses (including legal costs) we incur or sustain in recovering or attempting to recover overdrawn amounts. An honour fee will be charged in the process of honouring a debit transaction that causes the account to become overdrawn; causes the debit balance to exceed the credit limit; or is drawn against uncleared funds, regardless of whether the account balance becomes overdrawn. You should inform us as soon as possible if you are in financial difficulty and having trouble rectifying an overdrawn account. Contractual Set-Off & Right to Combine Accounts We may apply any deposit in any of your accounts to any other deposit account which is overdrawn. Provision of Credit Summerland does not agree to provide any credit in respect of your account, such as an overdraft or credit card facility, without prior written agreement. Fees and Charges Summerland offers a range of fee structures so you can choose the structure that best suits your needs. All memberships and accounts are subject to related fees and charges depending on the fee structure you choose. Other general fees and charges may also apply to your account for other services or account activity. V

18 Summerland may waive fees under certain conditions. If Summerland fails to collect a fee to which we are entitled, we have not waived our right to collect the fee for future transactions of the same nature. We can vary, add or remove fees and charges that apply to your account at any time, and change your fee choice structure. For information about specific account fees and charges, please refer to the Schedule of Fees and Charges. Order of Payments If more than one debit is due from your account on the same day, Summerland may determine in which order the debits will be made. Summerland may determine the order of priority of any funds received pursuant to this or any other request, deposit or transfer. Transaction Limits The following maximum daily limits apply in a normal operating environment: Transaction type Daily limit Applies Branch cash withdrawal with less than $2, hours notice Internet, Mobile & Phone Banking $5,000 External transfer Internet, Mobile & Phone Banking $50,000 Per Internal transfer Customer Internet, Mobile & Phone Banking $5,000 BPAY Internet Banking International $1,000 transfer Withdrawals or purchases at ATMs and eftpos terminals within Australia $1,000 Purchases at eftpos terminals within Balance of Australia using Visa card / credit account option Per Card Bank@Post cash deposit $3,000 Bank@Post number of cheques 5 per deposit Bank@Post Cash Withdrawal $1,000 V

19 If you need your limit to be permanently decreased or temporarily increased, please contact us. We can only decrease your card limit to $0.00. Third party organisations, including Merchants or other financial institutions, may impose additional restrictions on the amount of funds that may be withdrawn, paid or transferred. For large cash requirements, a delivery fee may apply. Cut-Off Times Generally, any transaction made on your account will be processed on the same day, provided it is made before 5.00pm on a business day and subject to the cut-off times specified below. Any transaction made after this cut-off time may be processed on the following business day. Times are Australian Eastern Standard Time. Daylight savings times apply when in force. The daily electronic transaction cut-off times are as follows. Transaction type BPAY External Funds Transfer International Transfers via internet banking RTGS Cut-off time 4.30pm 7.30pm 1.00pm 4.15pm Mistaken Internet Payments A mistaken internet payment is a payment by a user through a Pay Anyone internet or mobile banking transaction, processed by a financial institution through direct entry where funds are paid into the account of an unintended recipient because the user enters or selects a BSB and/or identifier that does not belong to the named and/or intended recipient as a result of: the user s error, or the user being advised of the wrong BSB number and/or identifier. This excludes payments made using BPAY, incorrect transactions such as duplications or incorrect amounts or disputed or unauthorised transactions. You must take care to enter or select the correct information about the intended recipient of the funds, required when using Pay Anyone to make a payment. It is not always possible for us to recover funds from the unintended recipient. If the receiving financial institution is unable to recover the funds from the unintended recipient you V

20 will be liable for losses arising from the mistaken internet payment. You should report a mistaken internet payment to us as soon as possible. When you report a mistaken internet payment, we must investigate whether a mistaken internet payment has occurred. If we are satisfied that a mistaken internet payment has occurred, we must send the receiving financial institution a request for the return of the funds. Under the epayments Code, the receiving financial institution must within 5 business days: acknowledge the request by the sending financial institution for the return of funds, and advise the sending financial institution whether there are sufficient funds in the account of the unintended recipient to cover the mistaken internet payment. We must inform you of the outcome of the reported mistaken internet payment in writing and within 30 business days of the day on which the report is made. If we are not satisfied that a mistaken internet payment has occurred, we will not take any further action. You may complain to us about how the report is dealt with, including that we and/or the receiving financial institution: are not satisfied that a mistaken internet payment has occurred; or have not complied with the required processes and timeframes. When we receive a complaint we must deal with the complaint under our internal dispute resolution procedures and not require you to complain to the receiving financial institution. If you are not satisfied with the outcome of a complaint, you are able to complain to our external dispute resolution scheme provider. If we are unable to return funds to you because the unintended recipient of a mistaken internet payment does not cooperate, you can complain to our external dispute resolution scheme provider. If you receive a mistaken internet payment into your account we as the receiving financial institution may be required to act in accordance with the epayments Code. The table below is to explain the process for retrieving mistaken payments under the epayments Code, setting out what the processes are and what you are entitled to do. V

21 This information does not give you any contractual entitlement to recover the mistaken payment from us or to recover the mistaken payment from the receiving financial institution. You can report a mistaken payment to us at any time, but the process that will apply to seek the return of funds will depend upon when the report of the mistaken internet transaction was made. Process where funds are available & report is made within 10 business days - If satisfied that a mistaken internet payment has occurred, the receiving financial institution must return the funds to the sending financial institution, within 5 business days of receiving the request from the sending financial institution if practicable or such longer period as is reasonably necessary, up to a maximum of 10 business days. - If not satisfied that a mistaken internet payment has occurred, the receiving financial institution may seek the consent of the unintended recipient to return the funds to the holder. - The sending financial institution must return the funds to the holder as soon as practicable. Process where funds are available & report is made between 10 business days & 7 months - The receiving financial institution must complete its investigation into the reported mistaken payment within 10 business days of receiving the request. - If satisfied that a mistaken internet payment has occurred, the receiving financial institution must: 1. prevent the unintended recipient from withdrawing the funds for 10 further business days, and 2. notify the unintended recipient that it will withdraw the funds from their account, if the unintended recipient does not establish that they are entitled to the funds within 10 business days commencing on the day the unintended recipient was prevented from withdrawing the funds. - If the unintended recipient does not, within 10 business days, establish that they are entitled to the funds, the receiving financial institution must return the funds to the sending financial institution within 2 business days after the expiry of the 10 business day period, during which the unintended recipient is prevented from withdrawing the funds from their account. - If the receiving financial institution is not satisfied that a mistaken internet payment has occurred, it may seek the consent of the unintended recipient to return the funds to the holder. The sending financial institution must return the funds to the holder as soon as practicable. Process where funds are available and report is made after 7 months - If the receiving financial institution is satisfied that a mistaken internet payment has occurred, it must seek the consent of the unintended recipient to return the funds to the user. - If not satisfied that a mistaken internet payment has occurred, the receiving financial institution may seek the consent of the unintended recipient to return the funds to the holder. - If the unintended recipient consents to the return of the funds: 1. the receiving financial institution must return the funds to the sending financial institution, and 2. the sending financial institution must return the funds to the holder as soon as practicable. Process where funds are not available Where the sending financial institution and the receiving financial institution are satisfied that a mistaken internet payment has occurred, but there are not sufficient credit funds available in the account of the unintended recipient to the full value of the mistaken internet payment, the V

22 receiving financial institution must use reasonable endeavours to retrieve the funds from the unintended recipient for return to the holder (for example, by facilitating repayment of the funds by the unintended recipient by instalments). Disruption to Service When planning transactions, you should bear in mind that occasionally a service may be disrupted. It is your responsibility to use other means of effecting transactions and obtaining information if for any reason you are unable to use Internet, Mobile or Phone Banking. We will make all reasonable efforts to ensure that Internet, Mobile and Phone Banking are available to you, but we are not liable to you for, or in connection with a failure of Internet, Mobile or Phone Banking to perform in whole or in part any function that we have specified it will perform; the unavailability of Internet, Mobile or Phone Banking to you in whole or in part because of the failure of the communication network, ancillary equipment or any circumstance beyond our reasonable control; or delays or errors in the execution of any transaction or instruction because of the communication network, ancillary equipment or any circumstance beyond our reasonable control. Summerland will correct any incorrect entry that is made to your account as a result of a disruption and will adjust any fees or charges which have been applied as a result of that incorrect entry. To the extent permitted by law, Summerland will not be liable for any loss or damage, including consequential loss or damage, suffered because of a disruption. Dormant Accounts An account will be classified as dormant if there are no customer-generated transactions for at least two years. We will send a notice in writing to your last known address of our intention to classify your account as dormant. We will transfer the balance of a dormant account to another active account within your membership if one is available. We have a legal obligation to remit balances exceeding $500 to the Australian Securities and Investments Commission as unclaimed monies when an account is inactive for seven (7) years. V

23 This does not include Fixed Term Deposit accounts and Loan Offset Accounts. Funds under $500 will be retained by Summerland. Once your account becomes dormant you will be charged a monthly dormancy fee and we will stop paying interest on the account. Refer to our Schedule of Fees and Charges for further details. Interest Calculation Interest rates on accounts may be varied at our discretion, except for Fixed Term Deposits within their term. Daily interest is calculated on the daily closing balance of your account using the following formula: Daily Closing Balance Interest Rate Interest is calculated daily and credited or debited to the account monthly in arrears on the last day of the month. Interest is also paid or charged when the account is closed. Interest is not paid on an offset account, as the balance of that account is used to partially offset an associated loan balance prior to interest calculations on the loan. Refer to the Product Features Matrix for details on how interest is calculated and when it is paid. Joint Accounts A joint account is an account in the name of more than one person. Where your account is held jointly with one or more persons, statements are sent to the customer whose name appears first unless specifically requested otherwise (the statement will be in the names of all account holders). If we do this, you will be deemed to have received the statement the day after it is sent. If we give this Terms and Conditions Booklet to any one of the joint account holders, it will be considered to have been received by all account holders. Each joint account holder is jointly and severally liable to Summerland. This means that every joint account holder is responsible for ensuring Summerland is paid in full, even where other holders of the joint account do not contribute to remedying the debt. V

24 Operating Joint Accounts When you open your joint account, you must choose the operational status for that account, such as, only one person is required to sign transaction documents; if there are more than two joint account holders, a minimum number of persons required to sign transaction documents; or all joint account holders are required to sign transaction documents. We do not have to enquire into the circumstances surrounding any instructions any of you give in respect of the joint account or any transaction on the account. We are not liable for any loss or damage you or anyone else suffers as a result of our acting on those instructions, but this does not apply if we have been negligent or have not acted in good faith. Trust Accounts You can open an account as a trust account. However, note that we are not taken to be aware of the terms of the trust; we do not have to verify that any transactions you carry out on the account are authorised by the trust; and you agree to indemnify us against any claim made upon us in relation to, or arising out of, that trust. This does not apply to statutory trust accounts such as those held for solicitors or real estate agents. Accuracy of Information We will take all reasonable steps to ensure that the information that we hold about you, or make available to you, is correct and updated regularly. We are not required to effect a transaction if you do not give us all the information required or if any of the information you give us is inaccurate. You are responsible for the accuracy of all payments. You must tell us the correct amount you wish to pay. We will direct the payment using only the BSB and account number you provide. The account name you provide will not be used to validate the transaction. Care must be taken to ensure that the BSB and account number given are correct. V

25 Corrections It is your responsibility to contact us as soon as possible if you think there has been an incorrect transaction made on your account; or information on your statement is incorrect, including transactions from ATMs, Internet, Mobile and Phone Banking. If we find an error on your account, we will correct the error. If it is our error, we may adjust interest and charges to your account accordingly. If we conclude from our investigations that no error has occurred and you are dissatisfied with this finding, we will commence our dispute resolution process. Closing your Account You or any other authorised signatory can close an account at any time upon request, depending on the signing requirements you set on that account. For example, if an account requires two persons to sign in order to transact on the account, two signatures will be required to close the account. The credit balance of your account and deposit interest, if any, less any accrued account fees and charges, will be paid to you. Monthly or annual fees will apply even if the account has been open for only part of the month or year. If the account is holding uncleared funds at the time of your request to close the account, the funds will not be released until they are cleared. If your account is in debit, the balance plus any accrued debit interest, fees and charges will be payable by you to Summerland. If transactions are received after the account is closed, they will be returned, debited or credited to the account. If we debit or credit them to your account we will notify you of the amount owing and you must pay us that amount. You must pay us any fees or interest that results from transactions being debited or credited to your account after the account has been closed. You must also return any debit card or cheque book linked to that closed account. Liability for Unauthorised Transactions You are liable for all losses caused by unauthorised transactions unless any of the circumstances specified below apply. V

26 You are not liable for losses 1) where it is clear that you and your Nominee have not contributed to the loss; 2) that are caused by the fraudulent or negligent conduct of employees or agents of: i) Summerland; ii) any organisation involved in the provision of the EFT System; or iii) any Merchant ; 3) that are caused by the same transaction being incorrectly debited more than once to the same account by us; 4) resulting from unauthorised use of card or PIN; 5) in relation to an EFT Transaction which does not require a PIN authorisation, before receipt of the card; 6) in relation to an EFT Transaction which requires PIN authorisation, before receipt of the PIN; 7) after notification to Summerland that the card is being used without authority, that it has been lost or stolen, or that PIN security has been breached; 8) relating to a forged, faulty, expired or cancelled access method; or 9) resulting from unauthorised use of your passcode; i) before you receive that passcode; or ii) after you notify us that your passcode has been misused, lost or stolen or used without your authorisation. You will be liable for any loss of funds arising from any unauthorised EFT Transaction using the card or PIN, or via Internet, Mobile or Phone Banking using the passcode, if the loss occurs before notification to Summerland that the card has been misused, lost or stolen or the PIN/passcode has become known to someone else and if Summerland proves, on the balance of probabilities, that you or your Nominee contributed to the loss through 1) fraud; 2) failure to look after and keep the PIN/passcode secure in accordance with clauses or extreme carelessness in failing to protect the security of the PIN/passcode; or 3) unreasonable delay in notifying us of the misuse, loss or theft or unauthorised use of the card, or PIN/passcode becoming known to someone else and the loss occurs between the time you or your Nominee did, or reasonably should have, become aware of these matters and the time of notification to us. However, you will not be liable for the portion of the loss that exceeds any applicable daily or periodic transaction limits on your linked account/s; V

27 the portion of the loss on any linked account which exceeds the balance of that linked account (including any prearranged credit); or all losses incurred on any account which you had not agreed with Summerland could be accessed using the card and PIN or other access method. Where a PIN/passcode was required to perform the unauthorised transaction and the Card & PIN Security and Passcode and Personal Computer Security sections of these Terms and Conditions was not abided by, your liability for any loss of funds arising from an unauthorised transaction, if the loss occurs before notification to Summerland that the card has been misused, lost or stolen or the PIN/passcode has become known to someone else, is the lesser of: 1) $150; 2) the actual loss at the time of notification to Summerland of the misuse, loss or theft of the card, or of the PIN/passcode becoming known to someone else (except that portion of the loss that exceeds any daily or periodic transaction limits applicable to the use of your card or your linked account); or 3) the balance of your linked account, including any prearranged credit. If, in cases not involving EFT Transactions, the card and PIN are used without authority, you are liable for the use that occurred before you notified us, up to your current daily withdrawal limit. Notwithstanding any of the above provisions, your liability will not exceed your liability under the provisions of epayments Code, where that code applies. You indemnify us against any loss or damage we may suffer due to any claim, demand or action of any kind brought against us arising directly or indirectly because you did not observe any of your obligations under the Terms and Conditions or acted negligently or fraudulently. Where you are the unintended recipient of funds, we may reverse the transaction and return the funds to the institution that sent them. Cards Summerland offers four card types being: 1) An eftpos card, which allows you to access up to two linked accounts at an ATM or eftpos terminal in Australia by selecting savings or cheque and keying in your PIN. V

28 2) A Visa debit card, which allows you to access your account at any ATM or retailer displaying the Visa logo anywhere in the world by selecting credit and entering a PIN or providing a signature (outside Australia). 3) A Low Rate Visa credit card, with all the functionality of the Visa debit card but with a credit limit attached. 4) A Rewards Visa credit card, with all the functionality of the Visa debit card but with a credit limit attached and a Rewards Program. Refer to the Rewards Program Terms and Conditions for more detail. eftpos contactless and Visa paywave enabled cards can be used to make purchases of up to $100 without a PIN by holding the card against the contactless reader at participating merchants. Transactions over $100 must be PIN authenticated. Only cards displaying the Visa paywave or contactless symbol can be used for contactless transactions. Visa cards are issued at our discretion. We may choose not to provide you with a Visa card. Card and PIN Security To prevent fraud or the unauthorised use of your card, remember to sign your card as soon as you receive it; keep it in a safe place; if you change the PIN, not select a PIN that represents your birth date or a recognisable part of your name; never write the PIN on the card; never write the PIN on anything that is kept with or near the card; never lend the card to anybody; never tell or show the PIN to another person, including your family and friends; use care to prevent anyone seeing the card number and PIN being entered; immediately report the loss, theft or unauthorised use of the card to Summerland; examine your periodical statement immediately upon receiving it to identify and report, as soon as possible, any instances where the card has been used without your authority; and immediately notify Summerland of any change of address. V

29 PIN Within Australia you are required to authorise all in-store transactions at EFT Terminals with a PIN, excluding paywave and contactless transactions. Summerland will provide a PIN to use with your card. You agree to protect the PIN as a means of preventing fraudulent or unauthorised use of the card by following the security guidelines above. Using the card Summerland will advise you from time to time what EFT Transactions may be performed using the card; and what EFT Terminals of other financial institutions may be used. Summerland does not warrant that Merchants or EFT Terminals displaying card signs or promotional material will accept the card. Summerland does not accept any responsibility should a Merchant or EFT Terminal displaying card signs or promotional material refuse to accept or honour a card, or should a Merchant or other financial institution impose additional restrictions on the use of the card. The card may only be used to perform transactions on your linked account(s). Summerland will advise you of: the accounts which you may link to the card; and any credit facility which you may link to your linked account. Summerland will debit your linked account with the value of all withdrawal EFT transactions and credit your account with the value of all deposit EFT transactions. If a linked account is in the name of more than one person, then each party to that account will be jointly and severally liable for all EFT Transactions on that account. Transactions will not necessarily be processed to your linked account on the same day. You will continue to be liable to Summerland for the value of any EFT Transaction occurring after you have closed your linked account(s) or after you cease to be a member of Summerland. Visa Zero Liability Visa s Zero Liability Policy ensures that when you use your Summerland Visa card and select the credit option, you won t be responsible for fraudulent charges or unauthorised purchases made with your card or account information, provided you V

30 comply with Visa s policy. Visa s Zero Liability policy does not apply to ATM transactions. Using the Visa card outside Australia All transactions made overseas will be converted into Australian currency by Visa, and calculated at a wholesale market rate selected by Visa from within a range of wholesale rates or the government-mandated rate, that is in effect one day prior to the date on which Visa processes the transaction. All transactions made overseas are subject to a fee, including ATM transactions made using your Visa card. The amount of this conversion fee may change from time to time and we will advise you in advance of any such change. Please refer to our Schedule of Fees and Charges. You may be charged a surcharge for making a transaction using an ATM overseas. Once you have confirmed the transaction you will not be able to dispute the surcharge. The surcharge may appear on your statement as part of the purchase price. A cardholder must comply with all applicable exchange control and tax laws governing the use of the card and you indemnify us against liability, loss, fees, charges or costs arising as a consequence of a failure to comply with them. eftpos cards cannot be used outside Australia. Additional cardholders You can add additional cardholders to your account. However if the account is a credit card and the facility is a joint account all owners to the account will need to approve any additional cardholders. We may issue additional Visa cards, at our discretion, to persons whose identity has been verified in accordance with requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and any other relevant laws. All transactions effected or authorized by an additional cardholder are treated as having been authorised by you and you will be responsible for them. You need to make sure additional cardholders read these terms and conditions and comply with them in the same way that you do. You will be liable for any breach of these terms and conditions by additional cardholders. V

31 Additional cardholders can operate linked accounts in the same way that you can and can access financial information about the account, including transaction, credit amount and payment information. You can revoke the authority of an additional cardholder by writing to us and returning the card. Until the card is returned, you continue to be liable for all transactions conducted by the additional cardholder. Cash Advances For a Visa credit card, a cash advance includes the following transactions: cash withdrawal from an ATM, in Australia or overseas; an over the counter cash withdrawal from a Summerland or other financial institution branch; an internal or external transfer from your credit card account using Internet, Mobile or Phone banking; a direct debit as processed using a BSB and your credit card account number, as opposed to a recurring visa purchase using your credit card 16 digit number which is a normal purchase; items we consider equivalent to cash, such as traveller s cheques and certain purchases; dishonoured payments. For a Visa debit card, a cash advance includes a cash withdrawal from an ATM overseas or an over the counter cash withdrawal from another financial institution branch. These transactions will incur a cash advance fee, and specifically for a credit card, a higher rate of interest on that cash advance, as outlined in your Credit Card Contract. Credit Cards Balance transfers We may offer special rates on balance transfers. You will need to apply for these and we give you information about any conditions of the offer on our website or when you ask. The minimum amount for a balance transfer is $1,000. Transfers can occur only from Australian issued non-summerland cards. You must not be in default of the terms and conditions relating to your Summerland card or other financial institution card. We will not be responsible for delays or charges associated with processing balance transfers. We will not close the card account held with the other financial institution - you will need to arrange this. V

32 At the end of the balance transfer period the balance transfer amount unpaid will revert to the Annual Percentage Rate for purchases that is current at the time. On expiry of the balance transfer period, you will be eligible for interest free periods on purchases, provided you have paid in full the balance transfer amount and the closing balance of your statement by its due date. The amount of the balance transfer will be included in the closing balance shown on your statement of account each month. Minimum repayments must be paid during the balance transfer period. The minimum repayment calculation will include the balance transfer amount. Credit Cards Interest free period on purchases Our Visa credit cards offer an interest free period of up to 55 days on purchases. We won t charge you interest on purchases shown on your statement of account provided: You pay in full the closing balance shown on that statement by the due date; and You paid in full the closing balance of your previous statement by its due date. When there is a balance transfer, you will not be eligible for an interest free period on purchases until the balance transfer amount is paid in full. Interest free periods do not apply to cash advances. Credit Cards Statement of account We will send a statement of account at the end of each month. The statement includes the amount you owe (closing balance) and the minimum repayment amount and its due date, which is 25 days from the day the statement is issued. Credit Cards Repayments If you owe less than $20, your minimum repayment is the amount you owe. Otherwise your minimum repayment is $20 or 2.50% of the closing balance of the statement of account, whichever is the greater. Also, the minimum repayment will include any amount by which you have exceeded the credit limit. You must make repayments by the due date. You should check your Credit Card Contract and statement of account for more information about making credit card payments. V

33 A repayment is not treated as being made until the date we credit the full amount of the payment to your account in the ordinary course of business. Depending on how you pay, you should allow adequate time for your payment to reach the account. If the due date is not a business day, then payment must be made on the last business day before the due date. Repayments are applied towards the closing balance of your last statement of account, until the balance is paid in full. We first pay off your transactions that have the highest interest rate as at the statement date. Payments are then applied to balances from the current statement period. Refunds credited to your account are not considered repayments. Multi-currency cash passport We offer a prepaid money travel card through a third party relationship. Refer to our website for more details or the Multi-Currency cash passport Product Disclosure Statement and Terms and Conditions or at Pre-authorisations If you select the credit option when using your Visa card, your transaction will need to be authorised before it can proceed. The purpose of the authorisation is to; 1) confirm there are sufficient funds available; 2) ensure the card has not been reported lost or stolen; and 3) ensure the card is valid. An authorisation may also be completed for a transaction that occurs at a later time such as hotel accommodation, car hire and flight booking. The authorisation will remain in place until the authorisation has been processed or has expired. You acknowledge and agree that Summerland has the right to deny authorisation for any EFT transaction for any reason; and Summerland will not be liable to you or any other person for any loss or damage that you or such other person may suffer as a result of such refusal. Report Loss, Theft or Unauthorised use of the card or PIN If you or your Nominee believes the card has been misused, lost or stolen or the PIN has become known to someone else, you or your Nominee must immediately contact Summerland. We are available for this notification 24 hours a day, 7 days a week at a V

34 toll free number as listed at the beginning of this booklet. Or you can update the status of the card to lost or stolen in internet banking. When notifying us, you or your Nominee must tell us any personal information we ask you to provide to assist in identifying you and the card. We will acknowledge the notification by giving a reference number. Please retain this number as evidence of the date and time you contacted us. If we are unavailable at the time notification is attempted, the loss, theft or unauthorised use must be reported to Summerland as soon as possible. Summerland will be liable for any losses arising because we are not operating at the time of attempted notification, provided that the loss, theft or unauthorised use is reported to Summerland as soon as possible. Cancellation and return of the card The card always remains the property of Summerland. Summerland can immediately cancel the card and demand its return or destruction at any time for security reasons or if you breach these terms and conditions or the terms and conditions of your linked accounts, including by capture of the card at any EFT Terminal. Summerland may, at any time, cancel the card for any reason by giving you 30 days written notice. The notice does not have to specify the reasons for the cancellation. You may cancel your card or any card issued to your Nominee(s) at any time by giving Summerland written notice. You will be liable for any transactions you or your Nominee(s) make using the card before the card is cancelled but which are not debited or credited to your linked account until after cancellation of the card. However, you will not be liable for any losses resulting from continuing unauthorised use of that card provided you take all reasonable steps to ensure the card is destroyed or returned to us; and do not act fraudulently or otherwise cause the loss. Use after cancellation or expiry of the card You must not use the card or allow your Nominee to use the card: V

35 before the valid date or after the expiration date shown on the face of the card; or after the card has been cancelled. You will continue to be liable to reimburse Summerland for any debt incurred through such use whether or not you have closed your linked account(s) at Summerland. Disputed Transaction A disputed transaction may include: 1) a transaction which you believe was not authorised by use of your card; or 2) a transaction that you wish to dispute. This may include a transaction that has been processed to your card more than once, or a transaction that was authorised by the use of your card which you wish to dispute. Despite notifying Summerland of a disputed transaction you remain liable for any cash withdrawal or purchase made by using your card. Chargeback Rights Visa has a dispute resolution process that is contained in its operating rules. This process sets out specific circumstances and timeframes in which a member of the scheme (e.g. a financial institution) can claim a refund in connection with a disputed transaction on your behalf. This is referred to as a chargeback right. This chargeback right does not apply to transactions at eftpos terminals accessing your nominated account using the savings or cheque option. Our ability to investigate any disputed transaction on your Visa card and subsequently process a chargeback is restricted by the time limits imposed under the operating rules for the Visa card scheme. We will process a chargeback for you when you have notified us of the disputed transaction within the required time frame. The timeframes within which we process a chargeback vary between 75 days and 120 days depending on the type of disputed transaction. Our ability to dispute a transaction on your behalf (where a chargeback right exists) may be lost if you do not notify us within the required timeframes. Where it can be shown that you have unreasonably delayed notifying us, you may be liable for the loss on any disputed transaction. V

36 While your dispute is being investigated by us, the value of the disputed transaction will be withheld against the account linked to the Visa card until the dispute is resolved. Notification Procedures for disputed transactions You should immediately notify us of any disputed transaction. Summerland recommends that you carefully read each statement as soon as you receive it. You may also wish to check your current transaction history via Internet, Mobile or Phone Banking. You must give us any information you have about how the disputed transaction occurred. We may require you to confirm details in writing. You must give Summerland the following information: 1) your name, account number and card details; 2) the error or the transaction you are unsure about; 3) a copy of the periodical statement in which the unauthorized transaction or error first appeared; 4) an explanation, as clearly as you can, as to why you believe it is an unauthorised transaction or error; 5) the dollar amount of the suspected error. and 6) if your complaint concerns the authorisation of an EFT Transaction, Summerland may ask you or your Nominee to provide further information. Summerland will investigate your complaint. If we are unable to settle your complaint to your and our satisfaction, we will advise you in writing of the procedures for further investigation and resolution. We may request further relevant details from you. Within 21 Days of receipt from you of the details of your complaint, Summerland will 1) complete its investigations and advise you in writing of the results of its investigations; or 2) advise you in writing that it requires further time to complete its investigation. Summerland will complete its investigation within 45 days of receiving your complaint, unless there are exceptional circumstances. If Summerland is unable to resolve your complaint within 45 days, we will let you know the reasons for the delay and provide you with monthly updates on the progress of the investigation and its likely resolution date, except where we are waiting for a response from you and you have been advised that Summerland requires a response. V

37 If your complaint has not been resolved within 120 days of receipt of the details of your complaint, Summerland will resolve the complaint in your favour. If Summerland finds that an error was made, we will make the appropriate adjustments to your linked account including interest and charges (if any) and will advise you in writing of the amount of the adjustment. When Summerland advises you of the outcome of its investigation, we will notify you in writing of the reasons for our decision by reference to these Terms and Conditions and the epayments Code and advise you of any adjustments we have made to your linked account. If Summerland decides that you are liable for all or any part of a loss arising out of unauthorised use of the card or PIN, we will: 1) give you copies of any documents or other evidence we relied upon; and 2) advise you in writing whether or not there was any system or equipment malfunction at the time of the relevant transaction. If Summerland fails to carry out these procedures or causes unreasonable delay in resolving your complaint, we may be liable for part or the entire amount of the disputed transaction where that failure or delay has prejudiced the investigation s outcome. Malfunction We will be responsible for any loss, which occurs because an EFT terminal accepts your instructions but fails to carry out the transaction requested. If you are aware that the EFT terminal is not operating properly we will only be responsible for correcting the relevant account and refunding any fees or charges. We will not be responsible if an EFT terminal does not accept your instructions or your card fails to work in the terminal, such as where your card is faulty, or the EFT terminal is faulty. Transaction slips and receipts It is recommended that you check and retain all transaction records, including but not limited to, transaction slips, receipts, payment or transfer reference numbers issued to you after conducting an EFT Transaction to assist in reconciling EFT Transactions against your statements. V

38 Card Switching If you close or renew your Visa card, please ensure you either cancel any regular payment authorities, or advise the supplier that the debit card is being closed. Summerland is unable to cancel or amend these authorities on your behalf as they are agreements between your and the Merchant. It is advisable that you record your regular payment arrangements from your Visa card and store them in a safe place. A template for this as well as other information relevant to regular payment arrangements is available from Internet, Mobile and Phone Banking Access To access these services refer to the following table. Type of Service Internet address or phone number Internet Banking summerland.com.au/ib Phone Banking Establishment To use internet banking and phone banking, you are required to register. You may choose to activate these services on opening an account or register at a later date at any branch, our website or by calling us. You will be allocated a username and passcode for secure access to the facilities. Internet banking will provide you with a choice of Two Factor Authentication such that: You can register for Secure SMS which will send an authorisation code to either your nominated home, business or mobile phone number to authenticate certain transactions; or You may elect to have a VIP Security token or a software credential which will provide a one-time passcode which will secure your internet banking session. V

39 Passcodes The passcode required to access these facilities may be changed by you at any time to that of your choice, within the limitations of the system. After 90 days of inactivity on internet banking the service will be made inactive. You can reactivate by contacting us. We may cancel the use of any of your passcode at any time without notice if we believe the passcode is being used, or will be used, in a way that will cause loss to either you or us. Features Feature Internet Banking Mobile Banking Phone Banking Account is protected by a passcode Reset your passcode online Account is also protected by Two Factor Authentication, i.e. Secure SMS, token, VIP access Open a personal account online Obtain account balances Make payments using BPAY Receive and pay bills using BPAY View SMS Alerts account information sent directly to your mobile phone Access estatements, to view, save or print statements View and confirm your transaction history Download or print your transaction history Secure mail facility Ability to transfer funds to external accounts International transfers Internal transfers effective immediately Confirm interest earned and paid Set up auto transfers Ability for multiple signatories to authorise transactions from different locations Online card activations and status updates Online loan applications Loan redraws Loan status details Sign loan contracts online V

40 Passcode and personal computer security To guard against unauthorised use, it is important that you protect your passcode in the following ways: Keep your passcode secure and protected; Do not share your passcode with any person or business; Do not allow any person to watch you enter, or hear your passcode; Be aware that Summerland would never ask you to tell us your passcode; Never respond to unsolicited requests to change your passcode; Change your passcode on a regular basis; Do not use your date of birth, part of your phone number or other series of numbers which others may easily guess; Do not use all or part of your name or initials in your passcode; Never write your passcode in any manner that will result in the numbers of your passcode appearing in the same sequence as you would key them in when using Internet, Mobile or Phone Banking; Refrain from simply reversing the number sequence of your passcode or recording it as a series of numbers with the actual numbers of your passcode circled, marked or highlighted in any manner; Keep antivirus software and firewalls up to date; When finished, use the Log Off button to exit Internet or Mobile Banking or hang up your phone after using Phone Banking. As an added precaution receipts should be turned on so you are notified whenever an Internet or Mobile Banking transaction is made from your accounts. The account nominated for receipts is retained and controlled in internet banking. Unauthorised Access You must inform us as soon as possible if you become aware of unauthorised transactions, use of your passcode, or loss or theft of your passcode, or if you suspect that your passcode has become known to someone else. In this event we also recommend that you change your passcode immediately. If you unreasonably delay notifying us, your possible loss as a result of unauthorised transactions on your accounts may increase. If you feel that your security, passcode or account has been compromised, call us immediately to report your issue. In the event that you advise us that funds have been removed from your account due to fraudulent activity, we will remove your access to this service until you advise us in writing that your device has been cleared of all malicious software. V

41 Operation Summerland will accept all instructions for transactions, disclosures and authorisations on your account as valid when your passcode for Internet, Mobile or Phone Banking is used. Authorised Representative Account owners can nominate an Authorised Representative to view details or to view, create and update batches on nominated accounts through Internet Banking. An Authorised Representative to view, create and update batches can only apply to accounts that are 2 or more to sign. An Authorised Representative is not a signatory to an account. Future-Dated Electronic Payments A future dated payment can be recurring or a one-off. Payment will not be made unless there are sufficient funds in the account by close of business on the due date. If there are insufficient funds to meet a one-off future dated payment, the payment request will automatically be cancelled. For recurring future dated payments, the system will attempt to make the payment for 5 business days. You may request a cancellation of a future-dated payment by contacting us directly or by using internet banking, after you have given the direction but before the payment date. Transaction Recording It is recommended that you record all receipt numbers issued to assist in checking transactions against your statements. Refusing Payment Directions You acknowledge and agree that: We may refuse for any reason to give effect to any direction you give us in respect of a payment to be made; We are not liable to you or any other person for any loss or damage that you or any other person may suffer as a result of such refusal. V

42 Ancillary Equipment It is your responsibility to obtain and maintain the ancillary equipment required to use Internet, Mobile and Phone Banking. We will not be liable for, or in connection with, any inaccuracy, errors or omissions in that information, because of the communication network, ancillary equipment or any other circumstances beyond our reasonable control. Cancellation of Access You may cancel your access to Internet, Mobile or Phone Banking at any time by giving us written notice. We may immediately cancel or suspend your access, without reason, at any time for security reasons or if you breach these Terms and Conditions. If, despite the cancellation of your access you carry out a payment using the access method, you will remain liable for that payment. Your access will be terminated when: We notify you that your access method or your account with us has been cancelled; You close the last of your accounts with us which has access; You cease to be a Member; or You alter the authorities governing the use of your account or accounts with access (unless we agree otherwise). BPAY 1 Summerland is a member of the BPAY Scheme. BPAY is an electronic payments scheme through which you can make payments to Billers. When you see the BPAY symbol on a bill you can pay that bill from your account using either Internet, Mobile or Phone Banking. We will tell you if we are no longer a member of the BPAY Scheme. In order to access BPAY yourself you must first be a registered user of internet banking or phone banking. Registered to BPAY Pty Ltd ABN V

43 When you tell us to make a BPAY payment you must tell us the biller s code number, your Customer Reference Number (both found on your bill) and the amount to be paid. If you instruct us to make any payment, but close the account to be debited before the payment is processed, you will remain liable for any fees incurred in respect of that payment. If there is any inconsistency between terms and conditions applying to an account and the BPAY terms and conditions, the BPAY terms and conditions will apply to the extent of that inconsistency. A BPAY payment instruction is irrevocable, except for future-dated payments. Third party organisations such as Billers or other financial institutions may impose additional restrictions on your access to and use of BPAY. You may choose to no longer use BPAY at any time. A delay may occur in processing a BPAY payment where another financial institution participating in the BPAY Scheme does not comply with its obligations under the BPAY Scheme or a Biller fails to comply with its obligations under the BPAY Scheme. While it is expected that any delay in processing will not continue for more than one business day, it is possible delays may be for longer periods. Chargeback rights do not apply for BPAY payments made using your Visa card. If we are advised that your payment cannot be processed by a Biller we will advise you of this, credit your account with the amount of the BPAY payment and take all reasonable steps to assist you in making the BPAY payment as quickly as possible. We will attempt to make sure that your BPAY payments are processed promptly by the participants in the BPAY Scheme including those Billers to whom your BPAY payments are to be made. You must promptly tell us if: You become aware of any delays or mistakes in processing your BPAY payments; If you did not authorise a BPAY payment that has been made from your account; If you think that you have been fraudulently induced to make a BPAY payment. We will attempt to rectify any such matters in relation to your BPAY payments; however, we will not be liable for any loss or damage you suffer as a result of using the BPAY Scheme. V

44 The longer you delay telling us about an error after you find it, the more difficult it may be to correct the error. For example we or the Biller may not have sufficient records or information available to us to investigate the error. If this is the case you may need to demonstrate that an error has occurred based on your own records or liaise directly with the Biller to correct the error. BPAY Mistaken If a BPAY payment is made to a person or for an amount which is not in accordance with your instructions and your account was debited for the amount of that payment we will credit that amount to your account. However, if you were responsible for a mistake resulting in that payment and we cannot recover the amount within 20 business days of us attempting to recover the amount, you must pay us that amount. If you make a mistake with a BPAY payment, as a payer you acknowledge that the receipt by a Biller of a mistaken or erroneous payment does not or will not constitute under any circumstances part or whole satisfaction of any underlying debt owed between you and that Biller. Unauthorised Payments If a BPAY payment is made in accordance with a payment direction which appeared to us to be from you or on your behalf, but for which you did not give authority, we will credit your account with the amount of that unauthorised payment. However, you must pay us the amount of that unauthorised payment if: We cannot recover that amount within 20 business days of us attempting to do so from the person who received it; The payment was made as a result of a payment direction which did not comply with our prescribed security procedures for such payment direction; If we are able to recover part of the amount of that payment from the person who received it you must pay us the amount of the payment that we are not able to recover. If you notify us that a BPAY payment made from your account is unauthorised, you must provide us with written consent addressed to the Biller who received that BPAY payment allowing us to obtain information about your account with that Biller as is reasonably required to investigate the payment. If you do not give us that consent, the Biller may not be permitted under law to disclose to us the information we need to investigate or rectify that BPAY payment. We are not liable for any consequential loss or damage you suffer as a result of using the BPAY Scheme, other than due to any loss or damage you suffer due to our negligence or in relation to any breach of a condition or warranty implied by law V

45 in contracts for the supply of goods and services and which may not be excluded, restricted or modified at all or only to a limited extent. Fraudulent Payments If a BPAY payment is induced by the fraud of a person involved in the BPAY Scheme, then that person should refund you the amount of the fraud-induced payment. However, if that person does not refund you the whole amount of the fraud-induced payment you must bear the loss unless some other person in the BPAY Scheme knew of the fraud or would have detected it with reasonable diligence in which case that person must refund you the amount of the fraud-induced payment that is not refunded to you by the person that induced the fraud. If you are not satisfied with the outcome you may complain to us and we will undertake a review. If you are then not satisfied with the result of our review you may refer your complaint to the Financial Ombudsman Service. Disruption to Service You will not be responsible for any loss you suffer because BPAY accepted your instructions but failed to complete a BPAY Payment. In the event that there is a breakdown or interruption to any BPAY system and you should have been aware that the BPAY system was unavailable for use or malfunctioning, we will only be responsible for correcting errors in your account and refunding any fees or charges imposed on you as a result. Privacy If you use the BPAY Scheme you agree to us disclosing to your nominated Billers, the entity operating the BPAY Scheme or any other participant in the BPAY Scheme and any agent appointed by them including Cardlink Services Limited that provides the electronic systems needed to implement the BPAY Scheme. The information we disclose is: Whatever personal information about you as is necessary to facilitate your registration or use of the BPAY Scheme; Whatever transactional information as is necessary to process your BPAY payments and use of BPAY View. Updated information to any of the information previously disclosed. If your personal information is not disclosed to BPAY Pty Ltd or its agent it will not be possible to process your requested BPAY payment or use BPAY View. V

46 You can request access to your personal information held by BPAY Pty Ltd or its agent, Cardlink Services Limited by contacting their Privacy Officer by phone on or at BPAY View 2 BPAY View is the service that allows you to receive and view bills or statements electronically from participating billers nominated by you through internet banking. You must register online to use this service. Use of BPAY View If you register with BPAY View you: Agree to our disclosing to Billers nominated by you such of your personal information as is necessary to enable Billers to verify that you can receive bills and statements electronically using BPAY View; Agree to us or a Biller collecting data about whether you access your s our website and any link to a bill or statement; State that where you register to receive a bill or statement electronically through BPAY View you are entitled to receive that bill or statement from the applicable Biller; and Agree to receive bills and statements electronically and agree this satisfies any legal obligations of a Biller to give you bills and statements. For the purposes of this clause we are the agent for each Biller nominated by you. You may receive paper bills and statements from a Biller instead of electronic bills and statements: At your request to a Biller; however, a fee may be charged by that Biller for supplying the paper bill or statement to you if you ask for this in addition to an electronic form; If you or a Biller deregister from BPAY View; If we receive notification that your box is full so that you cannot receive any notification of a bill or statement; If your address is incorrect or cannot be found and your is returned to us undelivered; If we are aware that you are unable to access your or internet banking or a link to a bill or statement for any reason; Registered to BPAY Pty Ltd ABN V

47 If any function necessary to facilitate BPAY View malfunctions or is not available for any reason for an extended period. You agree that when using BPAY View: If you receive an notifying you that you have a bill or statement, then that bill or statement is received by you: i) When we receive confirmation that your server has received the notification, whether or not you choose to access your ; and ii) At the address nominated by you. If you receive notification on internet banking without an then that bill or statement is received by you: i) When a notification is posted on internet banking whether or not you choose to access internet banking; and ii) At internet banking. Bills and statements delivered to you remain accessible through internet banking for the period determined by the Biller up to a maximum of 18 months, after which they will be deleted whether paid or not; You will contact the Biller direct if you have any queries in relation to bills or statements. You must: Check your s or internet banking at least weekly; Tell us if your contact details including address change; Tell us if you are unable to access your or internet banking or a link to a bill or statement for any reason; and Ensure your mailbox can receive notifications. BPAY View Billing Errors A BPAY View billing error means any of the following: If you have successfully registered with BPAY View o Failure to give you a bill (other than because you failed to view an available bill o Failure to give you a bill (other than because you failed to view an available bill on time) o Giving a bill to the wrong person o Giving a bill with incorrect details If your BPAY View deregistration has failed for any reason o Give you a bill if you have unsuccessfully attempted to deregister. You agree that if a billing error occurs: V

48 You must immediately upon becoming aware of the billing error take all reasonable steps to minimise any loss or damage caused by the billing error including contacting the applicable Biller and obtaining a correct copy of the bill; and The party who caused the error is responsible for correcting it and paying any charges or interest which would ordinarily be payable to the applicable Biller due to any consequential late payment and as a result of the billing error. You agree you are responsible for a billing error if that billing error occurs as a result of an act or omission by you or the malfunction, failure or incompatibility of computer equipment you are using at any time to participate in BPAY View. SMS We offer the following Short Messaging Services (SMS): Secure SMS; and SMS Alerts & Requests. To register for Secure SMS you must be registered for internet banking. To register for SMS Alerts & Requests, you can register through internet banking or enable the service by contacting us. Secure SMS Secure SMS is Two Factor Authentication (2FA) for certain transactions performed by you on internet banking. Once you have registered for Secure SMS, you will request and receive an SMS with a randomly generated 6 digit authorisation code to your registered mobile or landline number. This code will be completely unique to this transaction. This number expires within 5 minutes of being requested. A Secure SMS authorisation code is essential each time the following transactions occur: New destination transaction (not in your Funds Transfer, BPAY saved history) and equal to or higher than $500; Saved history transactions not previously processed for $500 or more; All batches totalling $500 or more; Some non-transactional functions e.g. registering/de-registering for SMS, change password or personal details. V

49 SMS Alerts & Requests SMS Alerts & Requests is a service which allows you to request account balances, transaction history or an event triggered SMS alert to your nominated mobile phone. For example, when a direct credit is received. SMS Alerts allows you to set up regular alerts and receive a SMS whenever something happens on your account, such as: Account balance falls below or rises above a specified level; Direct debit or credit is processed to your account. Or to schedule regular account balance updates. SMS Requests allows you to receive an SMS on demand. To request an SMS, send the SMS to using the following short command codes: B(n) T(n) TXC(n) Balance request all accounts starting from first or (n)th account (includes available balance) Transaction History starting from first or (n)th account Transaction History Credits only starting from first or (n)th account TXD(n) Transaction History Debits only starting from first or (n)th account I(n) Interest Earned/Paid Request starting from first or (n)th account When returning balance request information the system will return as many accounts as possible (within the 160 character limitation of SMS) from the starting account as indicated by the (n). To enable as many accounts as possible to be sent the system will limit account descriptions to 25 characters or transaction descriptions to 30 characters. SMS requests are available on demand 24 hours a day. An event triggered SMS is available between 5.30am and 7.00pm EST, 7 days a week. Your Mobile Phone The mobile phone you nominate for use with SMS must be an Australian mobile phone number you have recorded with us. Your mobile phone should be for your exclusive use. If your mobile phone is used by other people, they may receive, or be able to access messages intended for you. It is your responsibility to adequately protect your mobile phone from unauthorised access. We exclude all liability for any V

50 unauthorised access to information delivered to your mobile phone in connection with any SMS Service. For your protection, information sent to your mobile phone in connection with an SMS service will not reveal your full account or card number. If you travel outside of Australia and wish to access SMS, you should check with your telecommunications provider that your mobile phone will be able to use the SMS network in those countries in which you are travelling and that you can retain the same mobile phone number. Alternatively, you can use a multi-factor authentication app VIP Access. Due to the confidential nature of the information delivered as part of the SMS, you must immediately notify us if the phone number for your mobile phone changes or if your mobile phone is lost or stolen. Fees A fee may apply for SMS Alerts & Requests. We do not charge a fee for Secure SMS. Your mobile phone telecommunications provider may also impose fees and charges for sending and receiving SMS messages. Any such fees are your sole responsibility and any queries on such should be raised with your telecommunications provider. Direct Credits and Debits To receive direct credits or debits to your account from sources within Australia you must supply the remitter or biller our BSB number, , and either your member or account number at Summerland. Payments from sources outside of Australia cannot be made via direct credit. Please refer to International Transfers under Transfers section of this booklet. Summerland accepts no responsibility for the date an electronic file is received and therefore the date a direct credit or debit is made to your account, as this is set by the remitter or biller. Direct Credits As a direct credit is established by a member with a third party, the third party may provide terms and conditions for the direct credit. V

51 Processing You may advise us as to which account/s you wish a direct credit to be credited; noting, a direct credit cannot be paid to a Fixed Term Deposit. If you do not advise us to credit a particular account, we shall credit a savings account nominated by us. We will endeavour to process payments to accounts promptly upon receipt of lodgement files from remitting institutions. We accept no responsibility for the date a credit is posted to your account, as this date is set by the remitting institution. Payments received by us with invalid account details will be manually reviewed within one working day of receipt and either credited to the correct account, where the account can be identified, or returned to the remitter. A fee may apply for manual processing of this transaction. We reserve the right to not verify account names prior to crediting funds to receiving accounts relying solely on the account number supplied in the lodgement file by the remitting institution. Payments made to accounts in error may be recalled by the remitting institution. We do not accept liability for funds credited in error to accounts due to an incorrect account number being supplied by the remitter. However: (a) Where there are sufficient funds to cover the recalled amount, we will debit the account credited for the amount of the incorrect credit; or (b) Where there are insufficient funds to cover the recalled amount, you agree to incur and repay the debt up to the amount of the recalled payment and any associated fees incurred in retrieving these funds where the amount exceeds the balance of the account credited. Cancellation A request to cancel a direct credit must be provided to the third party payer. As Summerland is not advised when a direct credit has been established or discontinued by a customer with a third party, Summerland will follow the instructions received in an electronic file from another financial institution requesting we credit funds to you. Direct Debits As a direct debit is established by a customer directly with a third party, the third party may also provide Terms and Conditions of the direct debit. V

52 Direct debits are only available on certain accounts as shown in the Product Features Matrix. Direct debits may not be established on Fixed Term Deposits. Processing If the account or membership number provided in the electronic file are not correct or do not match, we may reject the direct debit. If you believe a direct debit initiated by your biller under a Direct Debit Request ( DDR ) Service Agreement is wrong you must contact the biller to resolve the issue. We are unable to recover any disputed amount on your behalf. A dishonour fee is payable if there are not sufficient available funds in your account when the direct debit is received. If a direct debit is paid and this overdraws your account, an honour fee may apply. If we pay a direct debit when there are insufficient funds to cover the debit in your account, you agree to incur and repay the debt up to the amount that the debit and fees exceed the balance of their account. If you set up a payment on your Visa card, please contact us directly about unauthorised or irregular debits. Cancellation Summerland will debit an account and transfer the funds in accordance with an electronic file received from another financial institution until advice to the contrary is received. Summerland reserves the right to cancel a direct debit should there be a pattern of insufficient funds. We will write to you and inform you of the cancellation. We will promptly stop a direct debit facility linked to your transaction account with us whenever you ask us to do so. You are advised to also cancel direct debits under a DDR Service Agreement by notifying the biller with whom you have the DDR Service Agreement. Please note that under the terms of the DDR Service Agreement with your biller you may have to give at least seven (7) days notice before cancellation takes effect. We will accept and process your complaint that a direct debit facility was not authorised or is otherwise irregular. However; we may request that you endeavour to resolve the complaint with the merchant or supplier first. Where possible we will assist you to seek a chargeback of any unauthorised payments debited to your Visa card pursuant to a recurring payment arrangement. The situation V

53 may occur for instance where payments continue to be debited to your account even though you have cancelled the recurring payment arrangement. Direct Debit Outwards (QuickDebits) QuickDebits allow you to move funds to your Summerland accounts by debiting an account you hold at another financial institution. We require a copy of a statement from the other financial institution and the request must be signed by all parties to both accounts which must be in the same name. Processing Funds credited to your account received via a QuickDebit will be subject to a clearance period of 5 working days. Every endeavour may be made to ensure that the QuickDebit is processed to your account at your nominated financial institution on the date specified on your authority, or on the following business day if your nominated date falls on a non-business day. Summerland does not accept responsibility if the debit is processed to your account on a date other than the one specified by us when processing your request. Amendments cannot be made to the actual account number that is being debited. If the account details are to be changed, the current authority must be cancelled and new authorities must be signed advising of the new account details. A fee may apply for each drawing made via this service. A dishonour fee may apply if the payment is dishonoured for any reason by the financial institution where your account is held. Please refer to our Schedule of Fees and Charges for further details. Cancellation Any request to cancel a QuickDebit authority must be received by Summerland in writing. The cancellation will not take effect until written notice is received by us. One (1) days notice must be given to suspend a payment, change the amount or amend the drawing date of a payment. All such requests must be in writing and will not take effect until written notice is received by Summerland. Should three (3) successive QuickDebit drawings be dishonoured for any reason by the other financial institution, the authority will be cancelled automatically and you will be advised of the cancellation in writing. An outward direct debit authority will also be V

54 cancelled automatically if the account to be debited does not exist, is invalid or is closed. Summerland will continue to make regular payments in accordance with the QuickDebit Request until advice to the contrary is received. PayPal When you use PayPal, you are authorising PayPal to debit amounts from your account as a biller under direct debit. Please note that: 1) You are responsible for all PayPal debits to your account. 2) If you dispute a PayPal debit, you can contact PayPal directly or ask us to do so. 3) We are not responsible for compensating you for any disputed PayPal debit to your account, or reversing any disputed PayPal debit to your account. 4) If you want to cancel your direct debit arrangement with PayPal you can contact PayPal directly or ask us to do so. 5) When you ask us to pass on a disputed transaction to PayPal, or request to cancel your direct debit arrangement with PayPal, we will do so as soon as practicable but we are not responsible if PayPal fails to respond as soon as possible or at all. Other third party payment services may operate in a similar way to PayPal. Transfers A Funds Transfer is an instruction from you, performed either via Internet, Mobile or Phone Banking or at a branch, to send funds from your account to an account within Summerland (internal transfer) or at another financial institution (external transfer). Transfers can also be set up as Auto Transfers which authorise us to make a payment of a specified amount from your account to another account at regular intervals for a defined period. Auto Transfers Summerland will process an auto transfer on the due date. If there are insufficient funds in your nominated account on the due date for payment, the auto transfer will not be made. However, further attempts will be made to make effective payment for 5 days. V

55 If there are insufficient funds in the account the auto transfer will go inactive after numerous attempts. Summerland accepts no responsibility to make the payment if sufficient funds are not available. Although Summerland will endeavour to affect the auto transfer, it accepts no responsibility to make the auto transfer. Accordingly Summerland shall not incur any liability due to any refusal or omission to make all or any of the auto transfers, or due to any late or early payment. You may alter, stop or cancel an Auto Transfer yourself within internet banking or you may notify Summerland. Summerland may at its discretion terminate the auto transfer authority at any time by notice in writing to you, or without notice if: We are advised that the account to which the auto transfer is made is closed; We are advised by the payee that no further payment is required; or Multiple attempts are unsuccessful. Date of Payments Internal transfers i.e. within Summerland accounts will occur immediately. External transfers typically arrive in their destination account overnight if processed before the relevant cut-off time. If you require funds to arrive in an external account within the same day then you need to request a RTGS. If the auto transfer debit falls on a weekend or public holiday, Summerland may make the payment on the next business day. Sufficient time should be allowed to enable the funds to reach the intended payee. Real Time Gross Settlements (RTGS) A RTGS provides a means to transfer, or receive funds on the same day as a transfer, within Australia, or receive funds from overseas, subject to a cut-off time. Inwards To receive payments from another financial institution within Australia, you must provide our BSB and your member or account number and the account name. V

56 Funds forwarded within Australia via RTGS are manually processed and will pass through at least one other institution before being credited to your account. Each institution involved in the transfer process may deduct a processing fee from the amount being remitted before forwarding the funds. Funds received from overseas will be received at the sending institution s intermediary bank within Australia, and then forwarded to your account via RTGS. Funds may pass through at least one and up to four institutions before being credited to the receiving account. We will pass on any fee charged by the financial institution involved in the transfer. We will credit funds to your account on the day that advice is received that payment has been received. Funds can only be credited to a transaction account and funds received for other accounts will be credited in the first instance to your transaction account and then transferred to the nominated account if possible. Outwards Requests to transfer funds via RTGS must be received before the cut-off time and will be processed on day of receipt. All requests received after this time will be processed on the next business day. International Transfers Inward There are two methods available for receiving money from overseas. These are inward telegraphic transfers and Swift /IBAN. Inward telegraphic transfers require you to complete a form that is available on our website. You then send this form to the person overseas who is transferring funds to you and they make a deposit in their own currency into a Western Union account using the details you have provided. If the country of origin is not one that has a Western Union account, the deposit will be converted to a standard currency such as the United States Dollar. Your transfer is converted into Australian Dollars and credited into your Summerland account usually within 72 to 96 hours. To receive payments via SWIFT/IBAN from sources outside of Australia, you must provide the person transferring the funds with the following information: 1. SWIFT code ASLLAU2CSCU//AU This is the SWIFT code for Australian Settlements Limited (ASL), who will forward the credit to your account with us. 2. Your account number. V

57 Where the remitting institution does not provide for BSB or Bank numbers, the BSB should precede your account number. 3. The full name(s) of the owner(s) of the account. 4. The residential address of at least one owner of the account. 5. The details of the receiving institution, Summerland Credit Union Limited. Funds forwarded from outside of Australia via SWIFT/IBAN are manually processed and may pass through up to four institutions before being credited to your account. International transfers using this method should take between 48 and 72 hours to reach the destination account, provided all information supplied on the request is complete and correct, but may take longer due to situations beyond our control. Only the remitting institution is able to trace funds that have not been received by the beneficiary. We cannot lodge a trace on international transfers until five (5) working days after lodgement. We are not involved in the negotiation of foreign amounts into Australian Dollars as this is performed by the remitter institution s Australian correspondent bank before funds are received by us for processing. Requests to recall or change the detail on international transfers may be charged a fee or have penalties to exchange rates applied. International Transfers Outwards A Telegraphic Transfer (TT) is a method to send money to an overseas bank account. A TT can be initiated via internet banking or with branch assistance. To send a TT you must possess the following information: 1. Purpose of Payment; 2. The full name(s) of the owner(s) of the account; 3. The residential address of at least one owner of the account; 4. The account number of the beneficiary; 5. The receiving institution name; 6. The receiving institution address; 7. SWIFT/IBAN code of receiving institution; Funds sent via TT generally take 72 hours to reach the beneficiaries account. V

58 Please refer to the terms and conditions for international transfers on the application form either in internet banking or from our branches. Fixed Term Deposits A Fixed Term Deposit (FTD) is a facility whereby you can invest funds for a defined period at a guaranteed interest rate. Establishment There is a minimum balance requirement of $1,000 for a FTD. FTDs can be invested for any term between three (3) months and sixty (60) months. Interest Interest is calculated daily. You may choose to have interest paid either on maturity or on a monthly basis. Interest paid on a monthly basis will be at a discount to the on maturity rate. The rate of interest is fixed for the term of your deposit. At the time of lodgement of your FTD you can choose to have interest: Reinvested with the FTD; or Credited to any nominated account. Summerland will provide you with a FTD Certificate at the time of your deposit. However, this is only valid with proof of deposit. Maturity Summerland will ask at the time of lodgement for your instructions upon maturity. A letter will be sent prior to your maturity date, to advise you of the impending maturity and the options for reinvestment. Whilst we prefer that you provide instruction prior to maturity, you can contact Summerland up to seven (7) days after the maturity date to change either the term of the new deposit or to change the amount you wish to reinvest, without penalty, provided after the proposed change that you maintain the minimum balance requirement of $1,000. If for any reason Summerland does not have any instructions from you as to what should happen to your funds at the maturity date, they will be reinvested at the current interest rate for the same term as your initial investment. V

59 From time to time Summerland may offer a special interest rate, which may be higher than other FTD interest rates, for a certain term and available only for a limited period of time. You will be advised in writing prior to maturity of your FTD of the current interest rates applicable for all terms. Please check these in order to ascertain what rate may be applicable to your term when your deposit is due to be reinvested. Rates are indicative only. Depositing or Withdrawing Funds No deposits may be made to a FTD within its fixed term. When you place a FTD, the deposit is to remain in place for the full term. However, we may consider a request for the earlier release of all or part of your FTD prior to its maturity date in certain circumstances. A penalty will apply. The penalty is subject to change and is disclosed on the Schedule of Fees and Charges. On request of a second early redemption within the term of the FTD, the FTD will be cancelled and the whole balance withdrawn. Funds left on term deposit remain at the existing rate unless the balance falls into a different category where the rate prevailing for that category will be applied. If after a partial withdrawal the balance remaining is less than the minimum balance of $1,000 then the whole balance must be withdrawn. No penalty will be incurred where an FTD is redeemed before the maturity date upon the death of the member during the term of that deposit. Cheques A chequing facility enables you to write personal cheques from your account and is available to all members 18 years and over. Please refer to the Product Features Matrix in this booklet for details on which accounts this facility is available. Operation of Chequing Facility When Summerland approves an application for a chequing facility you acknowledge to us as your agent, that you have authorised each to: Conduct accounts to enable you to draw cheques for payment of goods and services out of the funds in your account in accordance with these Terms and Conditions; and V

60 Transfer funds from your account to pay the amount of cheques that you or your authorised signatories have signed, and to pay the value of all costs, taxes or charges due. We can withdraw or stop the issue of a cheque book or demand that it is returned at any time. Security of Your Cheque Book It is your responsibility to safeguard your cheque book from loss, theft or unauthorised use. You must: Keep your cheque book secure and in a safe place at all times; Never give your cheque book or an incomplete cheque to any person; Contact us immediately if you become aware that your cheque book or a cheque has been lost, stolen or used without your authority. Responsibility for Completion When you write a cheque you have a duty to fill it out carefully so that no one else can alter it. You must: Write the amount in both words and figures and not leave a gap between the words or figures; Begin the amount in words as close to the left hand side of the cheque as possible. Write the amount in figures as close as possible to the dollar ($) sign. Do not leave spaces large enough for any other words or numbers to be inserted. Write the word only after the amount in words; Draw a line from the end of the payee s name to the beginning of the printed words or bearer ; Draw a line from the end of the amount in words to the printed $; Always write cheques in ink which cannot be rubbed out and never in pencil; and Never sign a cheque until you have filled it out completely. Crossing a Cheque If you cross a cheque, it is a direction to pay the cheque into an account at a financial institution. A crossing does not actually prevent the cheque being negotiated or transferred to a third party before presentation for payment. Crossing a cheque means drawing two parallel lines clearly across the face of the cheque. 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. This V

61 crossing may serve as a warning to the collecting financial institution to enquire if their customer has good entitlement to the cheque. An example of a cheque crossed, Not Negotiable: XYZ Credit Union Limited Date: / / Pay Fred Smith or bearer The sum of: Three Hundred Dollars only $ Signature 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. An example of a cheque crossed Account Payee Only: XYZ Credit Union Limited Date: / / Pay Fred Smith or bearer The sum of: Three Hundred Dollars only $ Signature Deleting Or Bearer Your pre-printed cheques 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. Liability You will be liable for all losses caused by your failure to observe the duties specified in these terms and conditions. However, in no case will you be liable where it is shown that the loss was caused by: The fraudulent or negligent conduct of Summerland s employees or agents; or The same cheque being debited more than once to an account. V

62 Cheques presented after your account is closed or your cheque book is cancelled can be dishonoured. You must not write a cheque after we tell you not to. If you do, the cheque might be dishonoured and we may charge you a fee for this. Dishonoured Cheques If the amount of any cheque presented for payment exceeds the available balance in your account at the time the cheque is presented, Summerland may refuse to pay the cheque. If that occurs Summerland will advise you in writing as soon as practical, but will not be liable for any losses caused by doing so. Where Summerland refuses to pay a cheque because payment exceeds the available balance, or in accordance with any other provision, we may, at our discretion, debit your account with costs incurred through such refusal. Summerland may dishonour or not pay cheques for the following reasons: You have insufficient cleared funds or available credit 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 of 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. Stop Payments Summerland is only required to stop payment on a cheque when written authority has been received. A stop payment can only be effected before the cheque has been presented, and a fee will be incurred. We will not charge you a dishonour fee if a stopped cheque is presented. Cheque Clearance Cheques deposited to any account are subject to a clearance period of three (3) business days before funds are made available for withdrawal, with the exception of regular international cheques less than AUD $2000, which are subject to extended clearance periods. International cheques greater than AUD$2000, will be processed as a Bill for Collection. This will result in funds not being credited to your account until the cheque has been paid and funds received from the foreign financial institution. V

63 Cheques deposited using may take up to seven (7) business days to clear. You will not be able to withdraw any of the proceeds of a cheque until the cheque is cleared. However, if we allow you to draw on a cheque before it is subsequently cleared; you will be liable for the amount of the cheque if it is dishonoured. You can request a cheque drawn on an Australian financial institution to be cleared in less than the usual time by requesting a special clearance. Please note, we cannot guarantee that this service will provide faster clearance than the usual process. Fees are charged in accordance with the Schedule of Fees and Charges. Inward Cheque Dishonours A cheque deposited to your account can be dishonoured if the drawer s financial institution has rejected payment of the cheque. We will tell you if a cheque you deposit to your account has been dishonoured. The amount of the cheque will be debited from your account. Financial Institution Cheques A Summerland Financial Institution cheque is a cheque that is drawn by Summerland rather than on your own account. These are commonly used in large purchases as an alternative to carrying large amounts of cash to pay to a third party or when a personal cheque is not acceptable. We will only issue you with a Financial Institution cheque if there are sufficient cleared funds in your account to cover the amount of the cheque and any applicable fees. Please note that a Summerland Financial Institution cheque cannot be made out to cash, nor can it be cashed at any Summerland branch. Summerland Financial Institution cheques can only be deposited into an account. By law, Financial Institution cheques are treated the same way as ordinary cheques. This means that - just like an ordinary cheque - in some circumstances a Financial Institution cheque may be subject to a stop payment or may not be paid. These circumstances include where: the cheque has been reported lost or stolen; the cheque has been signed without our authorisation; the cheque has been altered in any way without our authorisation; a court order is issued restraining us from paying the cheque. The cheque will not be paid while this order is in place. V

64 Please note that payment on a Financial Institution cheque will not be stopped in the case of a dispute between yourself and the payee of the cheque. Additionally, a stop payment will only be accepted if we are satisfied that it has been either lost or stolen. A fee applies to the issuing and stop payment of a Financial Institution cheque. Please refer to our Schedule of Fees & Charges for further details. A Financial Institution cheque cannot be cancelled unless: the member presents the cheque to be re-issued due to an error; it is lost or stolen and is to be re-issued immediately; or the member returns it to be deposited into the same account from which it was drawn General Precedence of Terms and Conditions Summerland may provide you with products and services that have additional terms and conditions attached to them. We will provide you with these terms and conditions when you take up that product or service. If any other terms and conditions we give you contradict the Terms and Conditions in this booklet, this booklet is taken to be correct. Changing Terms and Conditions We may change these Terms and Conditions, alter or cease any of our products or payment services, or introduce or change any fees, charges or interest rates applying to an account at any time. Circumstances in which we may change these Terms and Conditions include but are not limited to changes in the law, changes in the operation of BPAY or Visa,changes in our systems or for security reasons. Notice of changes We may change the terms and conditions that apply to your account, your access method or any product or service in this booklet and we will always advise you of these changes. Type of change Notice Notification method V

65 requirements Introduce a new fee or charge 20 days notice In writing Increase to a fee or charge 20 days notice In writing Reduce the number of fee-free transactions 30 days notice In writing Vary the minimum balance to which an account-keeping fee applies 20 days notice In writing Vary the method by which interest on the account is calculated, or Vary the circumstances when interest is 20 days notice In writing credited or debited to the account Increasing your liability for losses in relation to electronic transactions 20 days notice In writing Imposing, removing or adjusting transaction limits in relation to the use 20 days notice In writing of a card Imposing or increasing charges relating to the use of a card Increase in deposit interest rates Decrease in deposit interest rates 20 days notice In writing At least when the next statement of account is issued after the change No later than the day the change No notification In writing or by newspaper announcement takes effect * Notification in writing is via your statement, or an individual letter. Notification may be given by electronic means if you have given us your consent to notify you electronically. Summerland is not obliged to give you advance notice if an immediate change to the Terms and Conditions is deemed necessary for the security of the EFT System, your card, access method or individual accounts. Summerland will notify you of changes to your account in accordance with the above table. However, such notice will not be given when you cannot be located. You should promptly inform us if you change your address. You can advise us of a change of address by notifying us in writing, online via internet banking, by phone or by visiting one of our branches. Notices and Electronic Communication We may send you notices and statements V

66 by post, to the address recorded on your membership or to an alternative postal address you nominate; by fax; by or other electronic means; or by advertisement in the media, for some notices. We will only use fax or if permitted by law and you have nominated and consented to that form of communication for this purpose and you have not withdrawn your consent. If you agree, we may, instead of sending you a notice or statement, post notices or statements to our website for you to retrieve. We will tell you when information is available for you to retrieve, either at the time of setting up a facility that will have regular postings to the website. Notices and statements given electronically are taken to be received on the day that the information is sent. If for any reason we are unable to provide an electronic statement or notice we may send you a paper statement or notice. Marketing information about products or services we think may be of interest to you will be sent in the method you nominate. Should you wish to receive this information in another way or if you do not wish to receive the information please contact us and we will make the changes you request. Industry Codes We undertake to comply with the epayments Code and the Customer Owned Banking Code of Practice in our dealings with you from the date we become a subscriber to each of those codes; and to the extent that each code applies in relation to our dealings with you. Customer owned banking delivers member-focused, competitive financial services. Credit Unions, mutual banks and building societies are customer owned financial institutions committed to putting customers first. The provisions of the Customer Owned Banking Code of Practice apply to Summerland products and services for individuals and small businesses. Our 10 Key promises to you are: We will be fair and ethical in our dealings with you We will focus on our Customers V

67 We will give you clear information about our products and services We will be responsible lenders We will deliver high customer service and standards We will deal fairly with any complaints We will recognise customers rights as owners We will comply with our legal and industry obligations We will recognise our impact on the wider community We will support and promote the Customer Owned Code of Practice Please note that you can obtain a copy of the Customer Owned Banking Code of Practice on our website or upon request. If you believe we have breached the Customer Owned Banking Code of Practice you may lodge a complaint with the Code Compliance Committee: Phone: Mail: Code Compliance Committee PO Box Melbourne Vic [email protected] Fax: Website: Anti-Money Laundering and Counter Terrorism Financing Requirements In order for Summerland to meet the regulatory and compliance obligations of the Anti- Money Laundering and Counter Terrorism Financing Act 2006 ( AML/CTF laws ) you should be aware that we may be required to disclose information to the Australian Transactions Reports and Analysis Centre about you. We may also be required to release information regarding internet banking transactions to overseas regulators. We may be prohibited from effecting some internet banking transactions to overseas jurisdictions or that involve certain persons (in addition to the prohibitions required by Australian law). We have the right to withdraw all service where providing the service would either be in breach of AML/CTF laws or be impractical and burdensome to provide under those laws. Your transactions could be delayed, blocked or frozen if we believe on reasonable grounds that making a payment may be in breach of the law. You agree that we will incur no liability to you if we do delay or block any transaction, or refuse to pay any money in the reasonable belief that a transaction may contravene any law; V

68 We may need to collect information from you in order for us to comply with the AML/CTF laws, including about your citizenship, source of wealth, occupation businesses, associations or trusts, and relatives, associates, agents and attorney. We may suffer loss from you entering into a transaction that would breach AML/CTF laws or acting on someone else s behalf in breach of those laws. We may seek a customer warranty and an indemnity based on the warranty. By becoming a member of Summerland Credit Union, you consent to the verification and assessment of your personal information using the Australian Government s Document Verification Service and other electronic verification and search systems. Privacy Summerland Credit Union cares about your privacy. It is important to us that you know how we collect, use, and disclose your personal information. Our Privacy Notification describes what information we collect and why, how it s used and to whom it s disclosed. We also have a Privacy Policy that includes more details about what we do with your personal information. It also tells you what you can do if you have a problem with how we look after your information. Our Privacy Notification and Privacy Policy are available on our website, at our branch locations, or by phoning us to request a copy by post. If you have any concerns regarding your privacy, please see either the Privacy Notification or Privacy Policy for details on how to contact our Privacy Officer. If you Want to Make a Complaint Summerland has a dispute resolution policy to deal with any complaints you may have in relation to our financial services or us. Our dispute resolution policy requires us to deal with any complaint in an efficient manner. If you are not satisfied with the way in which we resolve your complaint, or if we do not respond in a timely manner, you may refer the complaint to our external dispute resolution provider. For further information on our complaints and disputes process please refer to our brochure How to make a complaint available at all branches, or on our website. If you have a complaint about our products or services you can contact us in the following manner: V

69 Phone: Mail: PO Box 657 Lismore NSW Fax: Website: In person: At any of our branches We will address your complaint immediately, although complaints made in outside of normal business hours will be actioned the next business day. Our aim is to resolve most issues within 21 working days. However, some matters are more complex and can take a little longer to resolve. If you are dissatisfied with the outcome you can request that we conduct a review of your complaint. If Summerland is unable to satisfactorily resolve your complaint under our internal dispute resolution process, you are able to have your complaint referred free of charge to the Financial Ombudsman Service (FOS) of which Summerland is a member. How to contact the Financial Ombudsman Service (FOS) Phone: Mail: Financial Ombudsman Service Ltd GPO Box 3 Melbourne VIC [email protected] Fax: (03) Website: Insurance Policy Complaints If your complaint relates to the operation of an insurance policy we have arranged, or an insurance claim, please contact the insurance company who issued your insurance policy. They will deal with your complaint under their own dispute resolution process. If you are not satisfied with the resolution of your complaint by the insurance company under its internal dispute resolution processes, you are able to have your dispute considered by the insurance company's external dispute resolution scheme. V

70 Important Definitions ADI Available Balance Balance transfer Beneficial Owner Bill for Collection Biller BPAY BSB Business Day Authorised Deposit-taking Institution any cleared funds lodged in your account, any unused overdraft or other agreed credit facility made available to you, but does not include: uncleared credits or deposits; or interest accrued but not paid; or deposits or credits not yet received. as relates to a credit card contract, an amount (balance transfer amount) we pay to another financial institution or other party at your request on which we may agree to charge a special interest rate for a defined period (balance transfer period). allows you to deposit or withdraw funds at participating Post Offices using your Visa or eftpos card and PIN. a beneficial owner of a customer is defined as an individual (a natural person or persons) who ultimately owns or controls (directly or indirectly) the customer. Beneficial Ownership rules apply to company, partnership, association and trust accounts. a cheque sent to the drawer s bank to ensure payment prior to the funds being credited to an account. means an organisation who will accept bill payments through BPAY. is a bill paying service allowing you to pay bills featuring the BPAY logo through Internet, Mobile or Phone banking. a 6 digit numeric code used for identifying a branch of an Australian or New Zealand financial institution. Stands for "Bank State Branch means a day other than a Saturday, Sunday or a gazetted public holiday. V

71 Card Cardlink Services Ltd Cut-Off Time Day Direct entry Disruption Due Date for Payment eftpos EFT System EFT Terminal EFT Transaction Electronic Equipment an eftpos or Visa card issued by Summerland. ABN is the provider of electronic systems required to implement the BPAY Scheme. is the time by which your payment instructions must be received by us in order for those instructions to be processed that day. a 24-hour period commencing on midnight in Australian Eastern Standard Time or Eastern Daylight Savings Time, as the case may be. a direct debit or direct credit means a time when a facility is unavailable. means a date when a payment is due to be made. a facility provided by a merchant allowing you to pay for purchases using your eftpos card either via a contactless transaction or authenticated by PIN. the shared system under which EFT Transactions are processed. the electronic equipment, electronic system, communications system or software controlled or provided by or on behalf of Summerland or any third party for use with a Card and PIN to conduct an EFT Transaction and includes, but is not limited to, an ATM or point of sale terminal. an electronic funds transfer instructed by you or your Nominee through Electronic Equipment using a card via a contactless transaction or authenticated by PIN. includes, but is not limited to, a computer, telephone, mobile device or EFT Terminal. External Funds Transfer means an instruction from you, performed on internet or mobile banking or at a branch, to send funds from V

72 your account to an account at another financial institution. IBAN Linked Account Membership Merchant Mistaken internet payment Nominee Passcode Payee PIN RTGS International Bank Account Number that facilitates the transfer of funds globally. your account(s) that you link to a card, including any overdraft or line of credit that you may attach to your Linked Account. refers to either a shareholding or non-shareholding member of the Credit Union. a retailer or any other provider of goods or services. means an inter-bank transfer made by you through internet banking where funds are paid to an account of an unintended recipient because you enter or select a BSB or account number that does not belong to the intended recipient, as a result of your error. any person nominated by you to whom Summerland has issued an additional card to access your linked account(s). This person must be an authorised signer. a password or code you must keep secret that may be required to authenticate a transaction or user. It may consist of numbers, letters, a combination of both or a phrase. Examples of passcodes include a PIN, an internet, mobile or phone banking password, token or softwaregenerated code. means the person or entity to whom a credit payment is to be made. a Personal Identification Number which can be used with a card to make certain transactions. means real time gross settlement and refers to a transfer to another Australian financial institution account that is received on the same day it is sent. V

73 Signatory SMS Stepped Interest Rate Tiered Interest Rate Two Factor Authentication (2FA) Unintended recipient Visa paywave You or Your We, Us or Our person authorised by you to transact and obtain information from us about your account. the telecommunications Short Messaging Service technology that allows text messages to be sent between mobile telephone devices. means that different rates of interest apply to different parts of your account balance. For example, the interest paid on that part of your balance between $10,000 and $20,000 may be different from the interest paid on the first $9,999. means you will earn different rates of interest depending on the balance of your account. This means that if the balance in your account is above a certain level, then a higher rate of interest will be paid on the whole balance. refers to a security process where you provide two means of identification for certain transactions via internet or mobile banking, most often something you know (such as a password) and something you have (such as a mobile device or token). the recipient of funds as a result of a mistaken internet payment a payment method provided by Visa through which a customer can make a purchase by holding a Visa paywave enabled card against a Visa contactless terminal without having to insert or swipe the card or provide a PIN as verification, for purchases up to $100. are references to you, the customer, member or account holder(s). are references to Summerland Credit Union. V

74 Product Features Matrix Transaction Accounts Young at Heart Youth Everyday Community First Offset + Equity Extra Gold Class Super Saver Money Sense Funds At Call Fee Rebate/Free Transactions eftpos card x x Visa debit card x Cheque Book x x Internet, Mobile and Phone Banking BPAY Tiered Interest N/A N/A N/A N/A x Stepped Interest N/A N/A N/A N/A x x Credit Interest Calculated N/A N/A N/A N/A D D D Credit Interest Paid N/A N/A N/A N/A M M M Overdrawn Debit Interest x x Overdraft Facility Available* x x x x Offset Against Loan Account x x x x x x Auto Transfers Direct Debit Minimum Balance x x x x x x x Service Fee x x x x x x x Eligibility Criteria x Applicable Fees Please refer to the Schedule of Fees and Charges *Subject to credit assessment and terms and conditions D=Daily, M=Monthly + No longer available V

75 Savings Business Bonus Saver Funds At Call Fee Rebate/Free Transactions eftpos card x x x x x x Visa debit card x x x x x x Cheque Book x x x x Internet, Mobile and Phone Banking x BPAY x x Tiered Interest x N/A Stepped Interest x x x N/A x x x Credit Interest Calculated D D D N/A D D D Credit Interest Paid M M M N/A M M M Overdrawn Debit Interest Overdraft Facility Available* x x x x x x Offset Against Loan Account x x x x x x x Auto Transfers x Direct Debit x Minimum Balance x x x x x x x Service Fee x x x x x x Access Plus isave Online Business Plus Statutory Deposit Fund + Real Estate Trust + Solicitors Trust + Eligibility Criteria x Applicable Fees Please refer to the Schedule of Fees and Charges *Subject to credit assessment and terms and conditions D=Daily, M=Monthly + No longer available V

76 Account Eligibility In order to obtain any of the accounts below, eligibility criteria will apply. Account Customer Eligibility Criteria Access Plus Bonus Saver Business Plus Community First Equity Extra Everyday isave Online Offset Gold Class Money Sense SuperSaver Nil Nil Operate a Registered Company or Business (must provide a Registration of Business Name Certificate where applicable) Operate a Not for Profit Organisation or Charity Hold an overdraft facility secured by a residential property For all customers except those that operate a company or registered business For those aged 12 years and over whom operate their own accounts. Access only available by Internet, Mobile or Phone Banking. Must have a linked transaction account Hold an Offset Home Loan For customers 65 years and over or receiving an Age, Disability or Veterans Affairs Pension Aged 12 to 17 years, inclusive Aged up to 17 years, inclusive V