Business Transaction and Investment Accounts

Transcription

1 Business Transaction and Investment Accounts Terms and Conditions Everyday Business Account Business Management Account Business WebSavings Account Premier Investment Account Farm Management Deposit Accounts Trust Accounts BOQ Superannuation Savings Account Easy Investment Account (no longer for sale) Unlimited Business Account (no longer for sale) Business Cheque Account (no longer for sale) Business Investment Account (no longer for sale) Account Access using a Business Visa Debit Card This document must be read in conjunction with the Business Banking Guide to Fees and Charges, Business Deposits Interest Rates and Electronic Banking Terms and Conditions (if applicable). Together they form your terms and conditions for these products. March 2014 G478 03/14 1

2 This page has been left Intentionally blank.

3 CONTENTS CONTENTS CONTENTS 1. INTRODUCTION 3 1. INTRODUCTION 1.1 Welcome to BOQ INTRODUCTION How does this document affect you? Need Welcome to know to BOQ more? How does this document affect you? Welcome to BOQ ACCOUNTS Need to know more? 3 How does this document affect you? ACCOUNTS Need to know more? Types of Accounts 2. ACCOUNTS Types of Accounts Types of Accounts Interest rates Interest rates When we can operate on your Account Our Interest right rates to combine Accounts PAYMENT SERVICES Closing Accounts Automatic reinvestment of Fixed Term Investment Accounts PAYMENT SERVICES PAYMENT SERVICES ATMs ATMs ATMs Transfer orders (periodical payments) Mail deposits Transfer orders (periodical payments) Bank Mail deposits Transfer drafts orders (periodical payments) Mail deposits Bank drafts Bank drafts

4 4. INFORMATION ABOUT ELECTRONIC ACCESS METHODS INFORMATION ABOUT ELECTRONIC ACCESS METHODS GENERAL TERMS AND CONDITIONS GENERAL TERMS AND CONDITIONS GENERAL INFORMATION GENERAL INFORMATION epayments code DEFINITIONS 7 7. DEFINITIONS

5 Addendum to Business Transaction and Investment Account Terms and Conditions This addendum dated 1 September 2015 amends and supplements the Business Transaction and Investment Accounts Terms and Conditions dated March 2014, and must be read together with that document. Unless otherwise noted, terms defined in the Business Transaction and Investment Accounts Terms and Conditions have the same meaning in this addendum. The following changes are effective 1 September 2015: 2.9 Operating your Account Section 2.9 (a) Account Information paragraph 3 has been deleted and replaced with the following: We will give you a statement, showing all Account transactions since the last Account statement, at least every month for Transaction Accounts and at least every six months for Investment Accounts, unless you request otherwise. You can request that statements be provided to you more or less frequently, but there may be a fee for these more frequent statements. If your Account is a Premier Investment Account, Farm Management Deposit Account or Easy Investment Account, you can request that statements be provided less frequently, either every twelve months or at the end of term, if your term is between six and twelve months. The following changes are effective 1 June 2015: Section 2.4 Summary of Trust Account features and benefits The WA Tenancy Bond is deleted from the Summary of Trust Account features and benefits table, as this product is no longer available for sale. Section 2.7 Opening an Account (e) Documents we need The WA Tenancy Bond Account is deleted from the Documents required table, as this product is no longer available for sale. The following changes are effective 25 May 2015: 2.9 Operating your Account Section 2.9 (e) When your credit rating could be affected section has been updated to remove the following dot point: details of cheques drawn by you (for amounts of $150 or more) which have been dishonoured more than once; 3.5 Cheques Section 3.5 (c) Risks paragraph 6 has been removed and replaced with the following: If a cheque is unpaid or dishonoured, we will not pay the cheque. The person to whom you have given the cheque will be told by their bank that the cheque has been dishonoured. We will charge a fee when a cheque is dishonoured. Section 3.5 (d) (xii) Cheques returned unpaid or dishonoured has been updated with the following: Heading has been removed and replaced with new heading: (d) (xii) Cheques unpaid or dishonoured Paragraph 2 is deleted and replaced with the following: If we dishonour a cheque, we will not pay the cheque and a fee will be charged. The following changes are effective from 1 January 2015: Section 2.3 Summary of Investment Account features and benefits: Premier Investment Account Features and benefits table The minimum and maximum term of 1 month to 5 years is deleted and replaced with a minimum and maximum term of 1 month up to 5 years. New disclaimer has been added for Funds can be used as loan security to note the following:

6 Different interest rates may apply when Premier Investment Account is used in conjunction with trade finance facilities or as loan security. Section 2.3 Summary of Investment Account features and benefits: Farm Management Deposit Features and benefits table The information for the below features and benefits is deleted and updated with the following: Farm Management Deposit Farm Management Deposit (At-Call) (Fixed Term) Interest paid to another All interest must be redirected to All interest must be redirected to account another account either with BOQ another BOQ account or another financial institution 1 month up to 5 years Minimum and maximum term (subject to conditions) (subject to conditions) Additional deposits allowed During the renewal grace period only Regular statement issued The following information is added to the features and benefits table: Farm Management Deposit (At-Call) Minimum additional deposit $1,000 $1,000 Minimum withdrawal amount $1,000 $1,000 Funds can be used as loan security Farm Management Deposit (Fixed Term) Section 2.3 Summary of Investment Account: Special Farm Management Deposit Terms and Conditions The Eligibility section is updated to include the following sentence at the beginning of the paragraph: You must be a Primary Producer with a taxable non-primary production income of $100,000 or less at the time of making a deposit to your Farm Management Deposit Account. The Deposits section is updated to include a new paragraph 3 as follows: Each deposit to the FMD Account must be held in the FMD Account for at least 12 months to qualify as a farm management deposit in terms of the FMD laws. The Interest section is deleted and replaced with the following: Interest on your Farm Management Deposit Account must be credited to your nominated account. For Farm Management Deposits (at-call) this will be the same General Account that you hold with BOQ for the purpose of debiting Farm Management Deposit Account fees and charges. For Farm Management Deposits (fixed) you may nominate an account either with BOQ or another Financial Institution for the purpose of interest redirection. Interest can be reinvested to your Farm Management Deposit Account after it has been paid to your nominated account that is not a Farm Management Deposit Account. The Withdrawals section is updated as follows: Paragraph 1 is deleted in its entirety. Paragraph 2 is amended by deleting the first sentence and replacing it as follows: You may withdraw from the FMD Account at any time but from 1 January 2015, you must give us 31 days prior notice if you want to close your Fixed Term Farm Management Deposit Account outside of the renewal grace period, unless a financial hardship situation applies. Paragraph 2 is further amended by deleting the first bullet point in exceptional circumstances, and the deposit was made before the declaration of exceptional circumstances; or Paragraph 2 is further amended by re-formatting the second last bullet point to clarify that it is at the request of the owner. Section 2.4 Summary of Trust Account features and benefits The eligibility criteria disclosed for QLD Solicitor Trust, QLD PAMD Trust is deleted and replaced with the following: Customers who meet the requirements under the Trust Accounts Act 1973 (QLD), Legal Profession Act, or Property Occupations Act 2014, Agents Financial Administration Act 2014, and Motor Dealers and Chattel Auctioneers Act The below features disclosed for NSW Solicitor Trust, NSW Agents Trust is deleted and replaced with the following: Transfer orders able to be deducted from account Excluding NSW Agents Trust Direct debits (withdrawals permitted) * * Direct debits (withdrawals) to your NSW Agents Trust Account are only permitted by cheque or electronic funds transfers processed via internet or mobile banking.

7 Section 2.7 (e) Documents we need The second row in the Statutory Trust Account Documents required table is deleted and replaced with the following. ACT Agents Trust Account NSW Agents Trust Account VIC Agents Trust Account A copy of your Agent s licence. Written notification that the account is required under the applicable State/Territory Legislation. There is a prescribed form of notice in VIC and NSW, which can be obtained from the applicable State authority. For NSW Agents effective from 1 January 2015 to be eligible to open and maintain a Trust Account you must provide BOQ with a unique identifying number, via the prescribed form of notice provided by the NSW Office of Fair Trading. Licensees who currently hold NSW Agents Statutory Trust Accounts have a grace period until 30 June 2015 to comply and provide a unique identifying number for their NSW Agents Trust Account to BOQ. All other content in this table remains unchanged. Section 2.11 Interest Rates Section has been amended with the existing Interest rates disclosure deleted and replaced with the following: We can change interest rates on Accounts at any time. Fixed Term Investment Account interest rates will apply to new or renewed deposits, or when a deposit or withdrawal has been made on the Account. We may apply different interest rate to Fixed Term Investment Accounts that are used in conjunction with trade finance facilities or as loan or lease security. New second paragraph is inserted as follows: Fixed Term Investment Account special interest rates We may offer special interest rates for selected terms on Fixed Term Investment Accounts for limited times. Such special interest rates will apply for the applicable term only and when your Account automatically rolls over, the funds will automatically invest in a Fixed Term Investment Account for the same term length however, it may be re-invested at a lower rate. In addition, as interest rates may vary over time, we encourage you to contact us before your Fixed Term Investment Account matures to discuss the interest rates that are available to you. It is important to note that interest rates will change and you are unlikely to receive the same interest rate on your Fixed Term Investment Account from one term to the next term. Section 2.11 (b) (ii) Premier Investment Account additional deposits Section has been updated by amending the heading to read Premier Investment Account and Fixed Term Farm Management Deposit additional deposits and by removal of 5 days and replaced with 7 days. Section 2.11 (b) (ii) Premier Investment Account withdrawals during the renewal grace period Section heading has been amended to read as follows: Premier Investment Account and Fixed Term Farm Management Deposit withdrawals during the renewal grace period. First sentence of paragraph 1 is deleted and replaced with the following: We will allow you to make withdrawals from your Premier Investment Account within 7 days from the renewal date (during the renewal grace period) provided that your Premier Investment Account is not used as security for your loan agreement with us or as security for your lease. Section 2.11 (b) (ii) Premier Investment Account - withdrawals outside of the renewal grace period Section heading has been amended to read as follows: Premier Investment Account and Fixed Term Farm Management Deposit withdrawals outside of the renewal grace period Paragraph 1 has been removed and replaced with the following: Withdrawals cannot be made from Accounts outside of the renewal grace period unless you close your Account and withdraw all of your funds. From 1 January 2015, you must give us 31 days prior notice if you want to close your Premier Investment Account and/or Fixed Term Farm Management Deposit Account outside of the renewal grace period, unless you are in a financial hardship situation or your Premier Investment Account is used as security for your loan agreement with us or as security for your lease. The first day of the notice period is the day that we receive your notice of early withdrawal. You will be asked to provide us with your instructions for the disbursement of the funds from your Premier Investment Account and/or Fixed Term Farm Management Deposit Account at the time that you give us your 31 days notice of early withdrawal. The funds will be automatically disbursed to the Account that you have nominated 32 days after we receive your notice of early withdrawal. If the 32nd day falls on a weekend or Australian public holiday then the funds will be automatically disbursed on the next business day. If you do not provide sufficient details of a bank account to enable us to disburse your funds to that account, we will attempt to contact you. If we are unable to contact you, we will send a bank

8 cheque made payable to you for the principal and interest (as adjusted for early withdrawal) less any early pay out fee and bank cheque fee, to the last known address that we have recorded for you. If you are in financial hardship, you must provide evidence of such financial hardship and meet our criteria for verifying financial hardship. If your Premier Investment Account is used as security for your loan agreement or your lease, then you may close your Account and withdraw all of your funds without providing 31 days prior notice but you will need to have satisfied the criteria for release of the security over this Account. An early payout fee and an interest rate adjustment will apply to your account if you close it before the maturity date. Section 2.11 (b) (ii) Example of how the interest adjustment will apply on a withdrawal outside of the renewal grace period Working example has been deleted and replaced with the following: On 1 July, a Premier Investment Account with a balance of $50,000 renews for a term of 90 days at an interest rate of 3.30% p.a. On 1 September (after the renewal grace period has expired and following receipt of 31 days notice) the Account is closed and the $50,000 withdrawn from the Account. The interest rate applied to the withdrawn amount for the 62 days the funds were in the Account will be 50% of 3.00% p.a. (the rate current on the renewal date (1 July) for $50,000 for 62 days). Total interest earned: $50,000 x ((3.00% x 50%)/365) x 62 days =$ New Section inserted as follows: Section 2.11 (b) (ii) Premier Investment Account and Fixed Term Farm Management Deposit - change or cancellation of withdrawals outside of the renewal grace period You may change or cancel your request to close your Account and withdraw all your funds at any time up to 5:00pm (Brisbane time) three (3) Business Days prior to the date the funds will be disbursed by calling us or by attending any one of our branches. If you cancel your instructions to close your Account, then your funds will continue in the same Account until the maturity date without any interest rate adjustment, unless you later issue another early withdrawal notice, giving 31 days notice. New Section inserted as follows: Section 2.11 (b) (ii) Premier Investment Account change to security status and withdrawals outside of the renewal grace period If your Premier Investment Account is used as security for your loan agreement with us or as security for your lease and during the term of your Account, that security is then released, then from the next maturity date for your Account, you will need to give us 31 days prior notice if you want to withdraw funds and close your Account outside of the renewal grace period, unless you are in a financial hardship situation or your Premier Investment Account is again being used as security for your loan agreement with us or as security for your lease. Section 2.12(b) Unclaimed money Section updated as follows: First Dot Point: or Farm Management Deposit Account fixed term is deleted; Second Dot Point: amended by insertion of or at the end; New Third Dot Point is inserted as follows: Farm Management Deposit ceases to be a Farm Management Deposit, for example in the event of your death, and has not been transacted on by way of deposit or a withdrawal, excluding any bank charges or interest, for 3 years or more, Section 2.13 When we can operate on your Account Section has been amended with the second sentence of the first paragraph deleted and replaced with the following: For example, we may make drawings on Your Account to pay ourselves interest, fees and charges, or if required by law, e.g. under the Financial Claims Scheme. All other Account terms and conditions remain as set out in the Business Transaction and Investment Accounts Terms and Conditions booklet. Issuer: Bank of Queensland Limited ABN Australian Financial Services Licence Number Australian Credit Licence Number G478a 09/15

9 INTRODUCTION 1.1 Welcome to BOQ The terms that govern the way you bank with us are set out in this booklet, Business Banking Guide to Fees and Charges, Business Deposits - Interest Rates and Electronic Banking Terms and Conditions (if applicable). Together, those documents comprise the complete terms and conditions for the Banking Services that we provide to you. We encourage you to take time to read this booklet and the other material provided to you. It has been produced to help you choose the right Banking Services for your needs. Please contact us if you want more information regarding the Banking Services we offer. 1.2 How does this document affect you? You receive and agree to these terms and conditions on your own behalf and as agent for anyone operating on the Account. You must pass on these terms and conditions to each of those persons. 1.3 Need to know more? You can contact us at any time if you would like any further information, or a copy of the current Business Banking Guide to Fees and Charges or Business Deposits - Interest Rates or Electronic Banking Terms and Conditions (if applicable) by: calling our Customer Contact Centre on , 7 days per week 7.00 a.m. to 7.00 p.m; visiting our website at ing us via the contact us page on our website; writing to us at GPO Box 898, Brisbane QLD 4001; or visiting your local branch or Business Banking Centre. 3

10 2.1 Types of Accounts Set out below are details of our Transaction Accounts and Investment Accounts. Transaction Accounts Everyday Business Account* Business Management Account Trust Accounts Description Our full service, cost effective, everyday business transaction account. Our premium business transaction account that earns you a competitive rate of interest. We offer a range of Trust Account to meet legislative requirements across most States and Territories in Australia. Our Trust Accounts are designed for Solicitors and Real Estate Agents, to hold clients money in trust. Investment Accounts Business WebSavings Account TM Premier Investment Account Farm Management Deposit BOQ Superannuation Savings Account Description Our online savings account with competitive interest and easy access for businesses. Our Premier Investment Account pays a competitive rate of interest, fixed for the term of the deposit. Our investment account that provides primary producers with the opportunity to shift pre-tax primary production income from years when it is needed least to years when it is needed most. This assists with the management of any exposure to adverse economic events and seasonal fluctuations. Choose to invest funds at call or for a fixed term. Our online savings account for registered Self Managed Super Funds. *Fair Use policy applies. A Business Visa Debit Card is available on Transaction Accounts (other than Trust Accounts) and the Business Investment Account. 4 4

11 Features & Benefits Everyday Business Everyday Business Business Business Management Management Account 1 Account 1 Account Account Real Business Solicitors Estate/ Controlled Business Not-for-profit Business Investment Agents Eligibility Money Customers Organisations Customers Account 2 Trust Investment Interest paid Account 2 Trust Account 2 Interest paid Credit interest calculated on daily monthly balance balance Credit Option interest to receive calculated interest on paid to another minimum account monthly balance Option to receive interest paid to another account Regular Deposits statement allowed issued Deposits allowed Easy Interest Cheque adjustment Deposit on facility unauthorised Interest adjustment on unauthorised Transfer orders overdrawings able to be deducted from 4 account Transfer orders able to be deducted from account Cheque access 2 2 Card access Domestic ATM access Domestic ATM access 3 3 Domestic Electronic Funds Transfer Point of Sale (EFTPOS access) Internet Banking Access 5 5 Bank@Post International ATM Access Account linked to a Visa Debit 3 3 Card International ATM Access Account linked 2 2 International EFTPOS Access Account linked to a Visa Debit 3 3 Card 2 2 Online & Telephone Purchases Account linked to a Visa Debit 3 3 Card 2 2 Minimum opening balance Direct debits (withdrawals) permitted 6 6,7 6,8 Direct debits (withdrawals) permitted Direct credits (deposits permitted) 7 8 Direct credits (deposits permitted) 1 Fair Use Policy applies see section For further detail regarding eligibility, refer to the Account Features table at section Card access is available only for Any One to Operate Accounts. Visa Debit cardholders with Restricted Access Cards may not be able to access all features 1 4 Overdrawings are not permitted on these accounts 2 5 Only available to law practices that are authorised by the relevant law society to withdraw money by electronic funds transfer 6 Direct debits (withdrawals) on Controlled Money Accounts, Solicitors Investment Trust Accounts and Real Estate/Agents Investment Trust Accounts are only permitted by Cheque or Electronic Funds Transfer via Internet Banking 7 All direct debits (withdrawals) and direct credits (deposits) must be credited to or debited from the Solicitors general Trust Account (excluding accounts held by registered solicitors practising in Victoria). 8 NT Only: All direct debits (withdrawals) and direct credits (deposits) must be credited to or debited from the Agent s general Trust Account For terms and conditions applying to Internet Banking, refer to Electronic Banking Terms and Conditions.

12 Features & benefits Business WebSavings WebSavings BOQ Account Superannuation WebSavings BOQ Superannuation Account Savings Account Business Customers Account Savings Account Eligibility & NFP Business Business customers customers and and Real Estate/ Organisations Solicitors Controlled Agents (excluding Money Account 1 Investment Trust Investment Self-Managed Account 1 Trust Account 1 Superannuation Minimum Minimum balance balance Minimum Minimum balance balance Funds) applies applies applies applies Interest paid Minimum Balance applies Interest Interest paid calculated paid monthly monthly daily balance Option Option to receive to receive interest interest paid paid to another to another account Interest accountpaid monthly Option to receive interest paid to another account Deposit Regular Deposit allowed allowed statement issued Deposits Allowed Interest EasyCheque adjustment Deposit on unauthorised facility Interest adjustment on unauthorised Interest adjustment on authorised Transfer overdrawing orders able to be deducted from Transfer orders able to be deducted from account account Transfer orders able to be deduced from account Cheque access Card access Domestic Domestic ATM ATM access access Domestic Electronic Funds Transfer Point of Sales (EFTPOS) International access International ATM ATM access access International ATM access Account linked to a Visa Debit Card International EFTPOS access Account linked to a Visa Debit Card Online & Telephone Purchases Account linked to a Visa Debit Card Internet Banking access 3 3 Easy Phone Banking access Direct Bank@Post Direct debits debits (withdrawals) permitted Direct (withdrawals) debits (withdrawals) permitted Direct permitted 4 4,5 4,6 Direct credits credits (Deposits) (Deposits) permitted permitted Direct credits (deposits) permitted 5 6 Telegraphic Transfer permitted 2 Minimum opening balance 7 1 For further detail regarding eligibility, refer to the Account Features table at section Overdrawings are not permitted on these accounts 3 Only available to law practices that are authorised by the relevant law society to withdraw money by electronic funds transfer Banking Terms and 4 Electronic Direct debits (withdrawals) Controlled Money Accounts, Solicitors Investment Trust Accounts and Real Estate/Agents Investment Banking Trust Accounts Terms are and Conditions. Conditions. only permitted by Electronic Funds Transfer via Internet Banking 5 All direct debits (withdrawals) and direct credits (deposits) must be credited to or debited from the Solicitors general Trust Account (excluding accounts held by registered solicitors practising in Victoria). 6 NT Only: All direct debits (withdrawals) and direct credits (deposits) must be credited to or debited from the Agent s general Trust Account 7 Balances greater than $5,000,000 are subject to approval on and from 30 August For terms and conditions applying to Internet Banking, refer to Electronic Banking Terms and Conditions.

13 Interest paid monthly Option to receive interest paid to another account Deposit allowed Interest adjustment on unauthorised Transfer orders able to be deducted from account Domestic ATM access International ATM access Direct debits (withdrawals) permitted Direct credits (Deposits) permitted 1 BOQ Superannuation Savings Account Minimum balance applies 1. Electronic Banking Terms and Conditions. 7

14 2.3 Summary of Investment Account features and benefits (continued) Features and Benefits Premier Premier Investment Account Business Business customers and registered Self Managed Superannuation Funds customers, Not-forprofit organisations Real Estate/ Controlled Solicitors Agents Eligibility and registered Money Investment Investment Self Managed Account 1 Trust Account 1 Trust 2.3 Summary of Investment Superannuation Account features and benefits (continued) Account 1 Funds Credit Features interest and calculated Benefits on daily balance Premier Investment Monthly Business or customers end of term Interest payment frequency options and registered (annually Self if Managed term more Superannuation than one year) Funds Option to reinvest interest Option to receive interest payments by cheque existing arrangements only Option to receive interest paid to another BOQ account Option to receive interest paid to an account at another Financial Institution Minimum and maximum term 1 month to 5 years Minimum opening deposit $1,000 Additional deposits allowed during renewal grace period only EasyCheque Deposit facility Withdrawals allowed 3 during renewal grace period only Minimum balance $1,000 Interest adjustment on withdrawal Regular statements issued Transfer orders able to be deducted from account Cheque access Card access ATM access Electronic Funds Transfer Point of Sale (EFTPOS) access Internet Banking Access # Withdrawals or transfers are subject to availablity of funds not required to secure view any only loan facilities. Direct debits (withdrawals) permitted Direct credits (deposits) permitted 4 5 Funds can be used as loan security 1 For further detail regarding eligibility, refer to the Account Features table at section Terms of less than 1 month may be permitted on reinvestment of funds. 3 Withdrawals or transfers are subject to availability of funds not required to secure any loan facilities. 4 All direct credits (deposits) must be debited from the Solicitors general Trust Account (excluding accounts held by registered solicitors practising in Victoria). # 5 Withdrawals NT Only: All direct or credits transfers (deposits) are must subject be debited to from availablity the Agent s of general funds Trust not Account required to secure any loan facilities. 78

15 Interest paid to another account Interest paid to another account Option to receive interest payments by Farm Management Deposit Farm Management Deposit 89 8 All interest paid monthly All interest paid monthly All interest must be redirected to another BOQ account All interest must be redirected to another BOQ account Farm Management Deposit Farm Management Deposit Monthly or end term (annually if more than one year) Monthly or end term (annually if more than one year) Option to receive interest payments by Option to receive interest paid to an Account Option to receive interest paid to an Account Option to reinvest interest n/a Option to reinvest interest Quarterly n/a Quarterly Quarterly Quarterly * (subject to conditions) (subject to conditions) (subject to conditions) (subject to conditions) Minimum balance Minimum balance Additional deposits allowed Additional deposits allowed Withdrawals allowed # Withdrawals allowed Interest adjustment in withdrawal # Interest adjustment on in withdrawal unauthorised n/a n/a Interest adjustment on unauthorised Transfer orders able to be deducted from n/a n/a Account Transfer orders able to be deducted from Account ATM access ATM access view only view only view only view only Direct debits (withdrawals) permitted Direct debits (withdrawals) permitted * Electronic Terms of less than 1 month may be permitted reinvestment of funds. Banking Terms and Conditions. Electronic Banking Terms and Conditions.

16 Electronic Banking Terms and Conditions. primary production business or an 8 individual who is a partner in a partnership that carries on in Australia a primary production business and who is presently entitled to a share on the income of the trust. person. Deposits Interest Interest will be credited to your nominated account and can be reinvested after it has been paid to your nominated. deposit to you as if the maturity date of the term has been reached. Charges and offset or any other person to us or to any other person. debts to us. Bank fees and government charges 10

17 debts to us. Bank fees and government charges 9 Customers who meet the requirements under the Legal Profession Act or Agents Act Customers who meet the requirements under the Legal Profession Regulation or Property Stock & Business Agents Act Customers who meet the requirements under the Trust Accounts Act, Legal Profession Act, or Property Agents and Motor Dealers Act. 11

18 Trust Features & TAS and Agents Trust Trust & TAS Agents Trust Customers who meet Customers who meet the requirements under the requirements under Customers who meet the requirements under or Property Agents and or Property Agents and the Estate Agents Act Land Transactions Act Land Transactions Act WA REBA Trust, Trust & WA Tenancy Bond be cashed be cashed be cashed be cashed Electronic Electronic Banking Terms and Conditions. Banking Terms and Conditions. for TAS Solicitor Trust access is view only for TAS Solicitor Trust access is view only rs Trust Accounts BOQ in States offers Trust outside Accounts of Queensland in States that outside have of fully Queensland operational that BOQ have branches. fully operational BOQ branches WA REBA Trust, & WA Tenancy Bond Customers who meet Customers who meet the Customers requirements who meet under the requirements under the requirements under the Business Legal Profession Agents Act Business Agents Act Act Tenancies Act Tenancies Act Interest ^ paid ^ ^ ^ ^ Credit interest ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ Option to receive interest paid to another account Trust & TAS Agents Trust EasyCheque Trust Customers & TAS who Agents meet the requirements Trust under or Property Agents and Customers who meet Land Interest Transactions adjustment Act the requirements under on unauthorised or overdrawings Property Agents and Land Transactions Act to be deducted from account VIC Agents Trust ^ ^ ^ ^ ^ WA REBA Trust, issued Trust & WA Tenancy Bond ^ ^ ^ ^ ^ Customers WA REBA who Trust, meet Trust the requirements under & WA Tenancy Bond restrictions Customers Business Agents who meet Act the requirements under Tenancies Act ^ ^ ^ Business ^ Agents Act Tenancies Act ^ ^ ^ ^ ^ ^ ^ ^ Cheque ^ access ^ ^ ^ be cashed ^ be cashed ^ be cashed ^ be cashed ^ Card access ^ ^ ^ ^ ^ ^ ^ ^ ATM access ^ ^ ^ ^ ^ ^ ^ ^ for Internet TAS Solicitor Banking ^ Trust for TAS Solicitor Trust access ^ ^ ^ access is view only access is view only t Minimum opening t Direct debits permitted Direct credits permitted Trust be Account cashed be cashed m m Trust be Account cashed be cashed be cashed Trust Account

19 Features & benefits Controlled Money Account Eligibility Customers in WA, NT, Qld, NSW, TAS and ACT who meet the requirements for a Solicitor Trust Account in their State or Territory 1 Solicitors Investment Trust Account Customers in all States and Territories who meet the requirements for a Solicitor Trust Account in their State or Territory Real Estate/ Agents Investment Trust Account Customers in WA, NT, Qld, NSW and TAS who meet the requirements for a Real Estate or Agent s Trust Account in their State or Territory 2 These accounts can be set up on Business Management Account, the Business WebSavings Account or the Premier Investment Account. Available products For a summary of the applicable features and benefits, please refer to the relevant Account Features table in sections 2.2 or 2.3 above. 1 This account is not available to customers in Victoria and South Australia. 2 This account is not available to customers in Victoria, The Australian Capital Territory and South Australia 13

20 2.5 Summary of Accounts no longer for sale Information for existing account holders only. Unlimited Business Account TM. Features and Benefits Unlimited Business Account TM * Eligibility Interest paid Credit interest calculated on daily balance Interest paid monthly Option to receive interest paid to another BOQ Account Regular statement issued Deposit allowed EasyCheque Deposit Facility Withdrawal restrictions Interest adjustment on unauthorised overdrawings Transfer orders able to be deducted from account Cheque access Card access ATM access Electronic Funds Transfer Point of Sale (EFTPOS) access Internet Banking Access Minimum Opening Balance Direct debits (withdrawals) permitted Direct credits (deposits) permitted *Fair Use policy applies see section # Only available for Any One to Operate Accounts. Business customers (ACT, NSW, VIC, NT & WA residents only) # # # $200 if cheque book is attached, otherwise no minimum For terms and conditions applying to Internet Banking, refer to Electronic Banking Terms and Conditions

21 2.5 Summary of Accounts no longer for sale (continued) Easy Investment Account Features and Benefits Easy Investment Account Features and Benefits Easy Investment Account Eligibility Business customers Eligibility Business customers Credit Interest calculated on daily balance Credit Interest calculated on daily balance Monthly or end of term Interest payment frequency options Monthly or end of term Interest payment frequency options (yearly if term more than one year) (yearly if term more than one year) Option to reinvest interest Option to reinvest interest Option to receive interest payments Option to receive interest payments by cheque existing arrangements only by cheque existing arrangements only Option to receive interest paid to Option to receive interest paid to another BOQ account another BOQ account Option to receive interest paid to an Option to receive interest paid to an account at another Financial Institution existing arrangements only account at another Financial Institution existing arrangements only Minimum and maximum term month to years* Minimum and maximum term 1 month to 5 years Minimum opening deposit $1,000 Minimum opening deposit $1,000 Additional deposits allowed Additional deposits allowed $100 minimum $100 minimum EasyCheque Deposit Facility EasyCheque Deposit Facility within deposit limit within deposit limit Withdrawals allowed Withdrawals allowed $1,000 minimum $1,000 minimum # # Minimum balance $1,000 Minimum balance $1,000 Interest adjustment on withdrawal Interest adjustment on withdrawal Regular statements issued Regular statements issued Transfer orders able to be deducted Transfer orders able to be deducted from an account from an account Cheque access Cheque access Card access * * Card access * branch access only branch access only ATM access ATM access Electronic Funds Transfer Electronic Funds Transfer Point of Sale (EFTPOS) access Point of Sale (EFTPOS) access Internet Banking access Internet Banking access excluding BPAY excluding BPAY Direct debits (withdrawals) permitted Direct debits (withdrawals) permitted Direct credits (deposits) permitted Direct credits (deposits) permitted Funds can be used as loan security Funds can be used as loan security # Withdrawals or transfers are subject to availability of funds not required to to secure loan. Withdrawals or transfers are subject to availability of funds not required to secure loan. **Only Terms available of less than on Any 1 month One to may Operate be permitted Accounts. on reinvestment of funds. *Only available on Any One to Operate Accounts. ** Only available on Any One to Operate Accounts. For For terms terms and and conditions conditions applying applying to to Internet Internet Banking, Banking, refer refer to to Electronic Electronic Banking Banking Terms Terms and and Conditions. Conditions

22 Transaction Accounts Business Cheque Account 3 Interest paid monthly balance Option to receive interest paid to another account Deposits allowed Interest adjustment on unauthorised Transfer orders able to be deducted from account 2 Domestic ATM access International ATM Access Account linked Direct debits (withdrawals) permitted Direct credits (deposits permitted)

23 Transaction Investment Accounts Business Investment Cheque Account 3 Interest paid Interest paid monthly Option monthly to balance receive interest paid to another account Option to receive interest paid to another account Deposit allowed Deposits allowed Interest adjustment on unauthorised over Interest adjustment on unauthorised Transfer orders able to be deducted from account Transfer orders able to be deducted from account 1 Domestic ATM access 12 Domestic ATM access 12 International ATM access International ATM Access Account linked Direct 2 debits (withdrawals) permitted Direct credits (Deposits) permitted Direct debits (withdrawals) permitted Direct credits (deposits permitted) 2 otherwise no minimum all features. 2. Electronic Banking Terms and Conditions

24 2.6 Other important information 2.6 Other important information Cost of the product Cost of the product the product the product Commissions Commissions Accounts in Business Banking Guide to Fees and Charges. Accounts in Business Banking Guide to Fees and Charges. include the variability of returns and the potential to lose deposit include the funds. variability of returns and the potential to lose deposit funds. The return on deposits depends on the interest rate that applies The return to the on Account. deposits depends The interest on the rate interest that we rate pay that is affected applies to by the a number Account. of The factors. interest Movements rate that in we market pay is interest affected rates by a number create a of risk factors. that the Movements interest rate in market we pay you interest rates create a risk that the interest rate we pay you returns on comparable investments. This is particularly returns on comparable investments. This is particularly these matters. these matters. Services. Services. staff member or authorised representative for each business staff member initiative. or authorised representative for each business initiative. recommend to our customers the most suitable Accounts recommend to our customers the most suitable Accounts our customers. If you would like to know whether the our customers. If you would like to know whether the We may pay commissions to brokers for introducing customers to us. The commission that we pay to brokers do not affect the cost of Banking Services to our customers. If you are dealing with a broker, they will provide you with a Financial Services Guide that details any remuneration (including commission) that the broker will receive. More information on commission and other benefits payable to our authorised representatives is set out in the relevant Financial Services Guide, available in our branches. 18

25 information amount earned may be payable. We recommend that you obtain your own advice circumstances. 2.7 Opening an Account open an Account in certain cases. person of the company that the account is held in. your Account. 1. A current Australian drivers licence 2. A valid Australian passport 19 17

26 Warranty Warranty Warranty All Account holders All Account holders All Account holders open and operate the Account. open and operate the Account. open and operate the Account. in any way. in any way. in any way. trustee and does not otherwise carry on business. trustee and does not otherwise carry on business. trustee and does not otherwise carry on business. continue to comply with the Superannuation Industry (Supervision) Act. continue This includes to comply ensuring with that the the Superannuation account is never Industry overdrawn. (Supervision) Act. continue to comply with the Superannuation Industry (Supervision) Act. This includes ensuring that the account is never overdrawn. Estate Estate Estate soon as possible. soon as possible. soon as possible. those that you may lawfully distribute until probate is obtained. those that you may lawfully distribute until probate is obtained. those that you 18 may lawfully distribute until probate is obtained

27 Documents required identification documents as per 2.7(b). documents as per 2.7(b). Incorporated and unincorporated identification documents as per 2.7(b). identification documents as per 2.7(b). per 2.7(b). identification documents as per 2.7(b). Estate 19 21

28 In addition when you open a Trust Account or an Investment Trust Account with us, we will need to see the following documents: Type of Statutory Trust Account WA Solicitor Trust Account Documents required which can be obtained from the applicable State authority. Type of Statutory Trust Account Documents required Type of Statutory Trust Account Documents required Controlled Money Account Copy of solicitor s practicing certificate Copy of written direction from the solicitor s client to invest the funds on their behalf Type of Statutory Trust Account Documents required Solicitors Investment Trust Account Copy of solicitor s practicing certificate Type of Statutory Trust Account Documents required Type of Statutory Trust Account Documents which can required be obtained from the applicable State authority. Real Estate/Agents Investment Trust which Copy can of your be obtained Agent s licence from the applicable State authority. Account (NSW only) prescribed form of notice that the account is required which can be obtained from the applicable State authority. which can be obtained from the applicable State authority. which can be obtained from the applicable State authority. 22

29 Generally, you can open a joint Account with other people. A joint Account cannot be opened for a Self Managed Superannuation Fund or Trust Accounts and Investment Trust Accounts

30 24 22

31 Note that for the purposes of section 2.9 Business Investment Account, BOQ Superannuation Savings Account and Business WebSavings Account are treated as Transaction Accounts

32 How to obtain information on Your Account transactions Type of information Transaction History Enquiry Internet Banking Description A list of transactions which you can view or print from our website (if you are eligible to access Internet Banking). Fee applicable No Number of transactions available Details of transactions for up to 6 months. Ad hoc Account Statement Internet Banking The statement that you request to be mailed to you (and any other person who normally receives this statement) from Internet Banking. No All transactions since the last mailed statement. This is not available for Investment Accounts. Transaction List Branch A list of transactions available on request over the counter at any branch. Yes All transactions since the last regular statement. For terms and conditions for Internet Banking refer to Electronic Banking Terms and Conditions. Details of fees payable are set out in Business Banking Guide to Fees and Charges. You can obtain a balance on Your Account by making enquiry through branches, Business Banking Centres, Internet Banking, or our Customer Contact Centre. Some balance enquiries may incur a fee. (b) Making deposits to Your Account The Account Features tables in sections 2.2, 2.3, 2.4 and 2.5 set out the deposit methods available on different Accounts. (i) Deposits through ATMs and branches If you make a deposit through one of our ATMs or branches, we will be responsible for the physical security of those funds from the time of the deposit. However, we must verify the amount of the deposit before crediting it to Your Account. If there is any difference between what you say has been deposited to Your Account, and what we have confirmed has been deposited, we will tell you the amount credited to Your Account as soon as possible

33 If you are depositing cash through an ATM, you must ensure that only notes, and not coins, are deposited. Cash deposited through an ATM will only be available for withdrawal once we have credited the amount to Your Account. We will not accept a deposit through one of our ATMs using a Visa Debit Card if it is a Restricted Access Card. (ii) EasyCheque Deposits EasyCheque Deposit facilities are available at many of our branches. Only cheque deposits are accepted through our branch EasyCheque Deposits facility (no cash or coin is accepted). Cheques must be made payable to the name of the Account or correctly endorsed to the name of the Account. Third party cheques that are not endorsed or verified might not be processed. Deposits will not be accepted to accounts held at other banks or financial institutions. Cheque deposits will generally be processed on the Bank Business Day that they are deposited. However, proceeds will not be available until the cheque has cleared. Deposits made on Thursday evenings after 4.00 p.m. or on Saturdays will be processed on the next Bank Business Day. Details of fees payable on cheques deposited through the EasyCheque Deposit facility are set out in Business Banking Guide to Fees and Charges. (c) Making withdrawals from Your Account You must not withdraw more than the available funds in Your Account unless you make prior arrangements with us or have an approved overdraft limit. Normally, you will not be able to withdraw the value of a cheque you deposit until the cheque is cleared, even though the amount of the cheque may be credited to Your Account. This rule also applies to cheques made payable to cash that are deposited to Your Account. Overseas cheques and drafts lodged are not clear funds until paid by the overseas bank. If you wish to withdraw a large amount of cash from a branch, you will be required to give the branch at least 24 hours notice. Information on the Payment Services available for Accounts (including those that allow you to make withdrawals) is set out in chapter 3. The Account Features tables in sections 2.2, 2.3, 2.4 and 2.5 explain the withdrawal methods available on individual Accounts. We will not accept withdrawals or EFTPOS with cash out using a Visa Debit Card if it is a Restricted Access Card. (d) Overdrawing Your Account Usually, you can only use Your Account if it is in credit. We do not have to let you overdraw Your Account. If we do, we may charge you interest calculated on the overdrawn daily balance

34 $150 28

35 Excessive or Unreasonable Use Everyday Business Account Unlimited Business Account TM - no longer for sale Our Rights 27 29

36 The Account Features tables in sections 2.2, 2.3, 2.4 and 2.5 set out whether interest is paid on the account. Details of interest rates that apply to our Accounts are: WebSavings Account, BOQ Superannuation Savings Account and Farm Management Deposits - At Call). At the close of business on 1 May, a Business Management Account has a Interest for the last day of the month will be paid the following month

37

38 5 days from the renewal date (during the renewal grace period). Day 1 is the renewal/ maturity date. You will receive the renewal interest rate on the entire balance of the account up until the withdrawal is made. After the withdrawal is made, we will allocate a new interest rate for the remaining term to the total balance of your account. If the amount remaining after a withdrawal would be less than the minimum allowed for a Premier Investment account then the whole balance must be withdrawn. Interest earned after withdrawal: 32

39 31 33

40 If a Transaction Account (also Business Investment Account, Business WebSavings Account, and BOQ Superannuation Savings Account) becomes inactive, we may close it without notice to you. The Account becomes inactive if: The Account becomes inactive if: you do not make any deposits or withdrawals during a continuous 12 month period; and 32 34

41 If We your: must treat funds in a Transaction Account, (also Business Investment Account, Business WebSavings Account and BOQ Superannuation Savings Account) which has not received Transaction a deposit or Investment or withdrawal Account (excluding (excluding any any bank Easy charges Investment or interest) Account, for 7 years or Premier more as Investment unclaimed Account money. or We Farm will Management close the Account Deposit and Account forward credit fixed balances term) exceeding has not $500 been to transacted the Commonwealth on by way Government. of a deposit or a withdrawal, excluding any bank charges or interest, for 3 years or more; or Investment Trust Account or Statutory Trust Account has not been transacted on by way of a deposit or a withdrawal, excluding any bank charges or interest, for 7 years or more, and if your Account balance is $500 or more, then we must treat the funds in your Account as unclaimed money. This means that we will be required to forward the funds in those Accounts to the Commonwealth Government (or any other amount that the Commonwealth Government advises from time to time). We will also close your Account at that time. We must treat funds in a Transaction Account, (also Business Investment Account, Business WebSavings Account and BOQ Superannuation Savings Account) which We has will not attempt received to a contact deposit you or withdrawal prior to the (excluding Account closure any bank to inform charges you or of interest) the actions for required 7 years or by more yourself as unclaimed to keep the money. Account We open, will or close alternatively the Account to enable and forward you to credit discuss other balances Account exceeding options $500 that may to the be Commonwealth more suitable to Government. your needs When we can operate on your Account 2.14 Our right to combine Accounts If you ask us to, we will usually close an Account that is in credit. A joint Account can be closed in the same way that the joint account is operated, subject to our discretion

42 2.15 Closing Accounts If you ask us to, we will usually close an Account that is in credit. A joint Account can be closed in the same way that the joint account is operated, subject to our discretion. We can close We can close Account an that Account is in that credit is by in credit giving 33 by you giving reasonable you reasonable notice. If notice. we do, If we do, we will pay we you will the pay credit you the balance credit after balance allowing after for allowing accrued for interest, accrued fees interest, and fees and charges. charges. If you cease If you to cease meet any to meet of the any eligibility of the criteria eligibility on criteria any of on our any Accounts, of our Accounts, for example, for example, the balance the in balance an Account in an falls Account below falls any below prescribed any prescribed minimum minimum amount, we amount, may we may close the close Account the without Account notice without to notice you and to transfer you and the transfer funds the to an funds alternative to an alternative Account. Account. If we close If we an Account, close an Account, we may charge we may you charge an amount you an that amount is a reasonable that is a reasonable estimate estimate of our costs of our of closure. costs of closure. (a) How we calculate a closing balance if an Account is in credit The credit The balance credit of balance an Account of an is Account calculated is calculated as the current as the balance current plus balance plus any deposit any interest, deposit less interest, any less accrued any Account accrued fees, Account debit fees, interest debit and interest and government government charges applicable charges applicable up to the up closing to the date. closing Any date. monthly Any or monthly or quarterly quarterly fees will apply fees will even apply though even the though Account the has Account been has open been for open only for only part of the part month of the or month quarter. or quarter. (b) How we calculate a closing balance if there are uncleared funds or the Account is overdrawn If there are If there any uncleared any uncleared funds in an funds Account in an at Account the time at you the time ask us you to ask us to close it, we close are it, unable we are to unable pay those to pay funds those to you funds until to you they until are cleared. they cleared. If If an Account an has Account a debit has balance, a debit balance, you must you pay must to pay the to balance us the plus balance any plus any accrued debit accrued interest, debit Account interest, fees Account including fees including monthly or monthly quarterly or quarterly fees, fees, and any government and any government charges, charges, less any less credit any interest credit applicable interest applicable up to the up to the closing date. closing date. (b) What you must do when you close Your Account If we ask If you we to, ask you you must to, you give must all give unused us all cheque unused forms cheque and forms any Card and any Card that you or that any you other or any person other uses person with uses the Account. with the Account. You should You cancel should cancel any direct any debit direct or credit debit arrangements. or credit arrangements. 36

43 any direct debit or credit arrangements Automatic reinvestment of Fixed Term Investment Accounts When a Fixed Term Investment Account matures, we automatically reinvest the funds deposited with us. The funds will be reinvested for a term nominated by you. If you do not nominate a term, we will reinvest the funds for the same term as the previous investment. For example, if you invest $50,000 with us for a term of 4 months, and you do not tell us what to do with the funds at maturity, we will reinvest those funds for a further 4 month term. If, at maturity, the Account does not have the required minimum investment amount, we can close the Account and transfer the balance to another Account opened by us in the same name. We pay you interest on the reinvestment at the rate applicable on the day of re-investment for the amount invested If you wish to redeem the funds at maturity, you must provide written instructions prior to maturity or during the renewal grace period. 37

44 38

45 3.4 ATMs (a) Features and benefits A Card can be used to access Nominated Accounts at any ATM that accepts our Cards other than a Resticted Access Card. Details of which Accounts can be nominated for ATM access are set out in the Account Features table in sections 2.2, 2.3, 2.4 and 2.5. You will find our ATMs outside many branches and at other convenient locations. Using a Card and PIN you can: withdraw cash; deposit cash (notes only) and cheques; transfer money between linked Nominated Accounts; and check Account balances. (b) Risks You should ensure that other people do not observe you entering your PIN. Once your PIN is known by another person, they can make Unauthorised Transactions on Nominated Accounts. In some circumstances you will be liable for those transactions (refer to chapter 4). Money is at your risk as soon as it becomes visible or available at an ATM. Please refer to section 4.7 if you think your security has been compromised. (c) Some rules about ATMs You can also access Nominated Accounts using the ATMs of most other financial institutions. While you may not be able to perform every type of transaction at these ATMs, you can check Account balances and withdraw cash. When using one of our ATMs, the minimum cash withdrawal in any transaction is $20 (subject to the necessary note denominations being available). The maximum amount of cash you can get through ATMs on any one day is a total of $1,000 per Card. EFTPOS has its own limits see section 3.7(c). When another financial institution s ATM is used, the maximum and minimum withdrawal amounts are determined according to the relevant institution and you may incur an ATM Operator Fee for each transaction. If an ATM Operator Fee is applicable it will be disclosed on the ATM screen at a point in the transaction which allows you to opt-out of the transaction without incurring any charge. The ATM Operator Fee includes Balance Enquiries. We are not responsible for any restrictions or conditions on the use of an ATM imposed by any other financial institution. ATM transactions are processed as soon as practicable after the transaction. This is not necessarily the same day as the transaction

46 38 40

47 39 41

48 Not Negotiable 42

49 in good faith and without negligence (e.g. by making enquiries and receiving a reasonable explanation)

50 42 44

51 $

52 44 46

53 has not given value for it (eg the bank cheque is stolen); or has not given value for it (eg the bank cheque is stolen); or has given value for it but at the time of doing so he or she knew has the bank given had value not for been it but paid at the for the time bank of doing cheque so he (eg or that she the knew cheque the bank in had favour not of been the paid bank for had the been bank dishonoured). cheque (eg that the cheque in favour of the bank had been dishonoured). Details of our fees for the issue of a bank cheque or a replacement bank Details cheque of are our set fees out for in Business the issue Banking of a bank Guide cheque to Fees or a replacement and Charges. bank cheque are set out in Business Banking Guide to Fees and Charges. 3.7 EFTPOS 3.7 (a) EFTPOS Features and benefits (a) Features and benefits You can use your Card and PIN to pay for goods and services and withdraw cash at You the can same use time your from Card many and PIN retail to and pay service for goods outlets. and services Please note and withdraw that some cash outlets at the same do not time give from out many cash. retail and service outlets. Please note that some outlets do not give out cash. If you have a Visa Business Debit Card, you can also pay for goods and services by presenting your Card at a Merchant and entering you PIN. (b) (b) (c) (c) You can use your Visa Debit Card to access a nominated account. You can also elect You to have can additional use your Visa cardholders Debit Card on your to access Account, a nominated additional account. cardholders You can have: also elect to have additional cardholders on your Account, additional cardholders can have: Full Access Cards or Restricted Access Cards; and Full Access Cards or Restricted Access Cards; and different daily EFTPOS limits. different daily EFTPOS limits. Risks Risks You should ensure that other people do not observe you entering your PIN while You using should EFTPOS ensure facilities. that other Once people your PIN do not is known observe by you any entering other person, your PIN they while might be using able EFTPOS to make facilities. Unauthorised Once Transactions your PIN is known on your by Nominated any other person, Account. they In some might be circumstances able to make you Unauthorised will be liable Transactions for those transactions your Nominated (refer to section Account. 4.9). In some circumstances you will be liable for those transactions (refer to section 4.9). Merchants do not have to accept your Card, and might not allow you to withdraw cash Merchants even if do they not do have allow to accept you to purchase your Card, goods and might and services not allow with you your to withdraw Card. We cash have even no control if they over do allow the hours you to during purchase which goods a Merchant and services operates with nor your the Card. hours We have during no which control the over Merchant the hours will accept during which your Card. a Merchant operates nor the hours during which the Merchant will accept your Card. Some rules about EFTPOS Some rules about EFTPOS Details of which Accounts can be accessed using EFTPOS are set out in sections Details 2.2, 2,3, of 2.4 which and Accounts 2.5. can be accessed using EFTPOS are set out in sections 2.2, 2,3, 2.4 and 2.5. Unless you have made arrangements with your branch for an increase or decrease in Unless limit, then you have the maximum made arrangements amount of funds with (including your branch cash for out) an you increase can obtain or decrease through in EFTPOS limit, then including the maximum Bank@Post amount on of any funds one (including day is a cash total out) of $1,000 you can per obtain Card. through EFTPOS including Bank@Post on any one day is a total of $1,000 per Card. Some goods and services might not be able to be purchased using a Card. Use of Some a Card goods might and be subject services to might other not limitations be able placed to be purchased on its use by using the a Merchant Card. Use or of a other Card institutions. might be subject We are to not other responsible limitations for placed goods on or its services use by obtained the Merchant from or a other Merchant institutions. using a Card. We are not responsible for goods or services obtained from a Merchant using a Card. EFTPOS transactions are processed as soon as practicable after the transaction, EFTPOS but not necessarily transactions the are same processed day as the as soon transaction. as practicable after the transaction, but not necessarily the same day as the transaction

54 (a) Features and Benefits (a) You Features can use and a Benefits Card and PIN at Australia Post offices to deposit cash and cheques, withdraw You can use cash a Card and get and Account PIN at Australia balances Post with Bank@Post. offices to deposit Details cash of and which cheques, Accounts withdraw cash can be and accessed get Account through balances Bank@Post with Bank@Post. are set out in Details the "account of whichfeatures" tables Accounts in sections can be accessed 2.2 and 2.3. through Bank@Post are set out in the "account features" tables in sections 2.2 and 2.3. (b) Risks (b) We Risks will not be liable for losses or other consequences arising from the refusal of We any will Australia not be Post liable officer for losses to accept or other a Card. consequences arising from the refusal of any Australia Post officer to accept a Card. You acknowledge that access to and use of Bank@Post may be unavailable at any time You acknowledge due to system that faults access or difficulties. to and use of Bank@Post may be unavailable at any time due to system faults or difficulties. (c) Some rules about Bank@Post (c) Unless Some rules you have about made Bank@Post arrangements with your branch for an increased limit, then the Unless maximum you have amount made of arrangements funds you can with access your through branch for Bank@Post increased (including limit, then EFTPOS) the maximum on any amount one day of funds is a total you can of $1,000 access per through card. Bank@Post (including EFTPOS) on any one day is a total of $1,000 per Card. card. Please be aware that not all Australia Post offices offer Bank@Post services to business customers. Please be aware Furthermore, that not all we Australia have no Post control offices over offer the hours Bank@Post of operation services nor to the business hours during customers. which Furthermore, Australia Post we may have accept no control a Card over for the Electronic hours of Transactions. operation nor the hours For during full which details, Australia refer to Post the Australia may accept Post a website Card for - Electronic Transactions. For full details, refer to the Australia Post website - Agency banking counter transactions at Australia Post teller terminals utilising the Bank@Post capability and initiated by the use of a Card and a PIN, including: (a) deposits comprising of cash (up to $3, 000 per deposit) and or/up to 5 cheques (a) into deposits an Account comprising per transaction; of cash (up to $3, 000 per deposit) and or/up to 5 cheques (b) into withdrawals an Account of cash per transaction; (subject to applicable transaction limits imposed by the (b) Bank); withdrawals and of cash (subject to applicable transaction limits imposed by the (c) balance Bank); and enquires. (c) balance enquires NOTE: due to PIN pad restrictions you will have access to three accounts via an Account NOTE: due Access to PIN Card, pad designated restrictions as you "Cheque", will have "Savings" access to three or "Credit". accounts For via Business an Visa Account Debit Access cards, Card, you will designated only have as access "Cheque", to one "Savings" account, or designated "Credit". For as "Cheque" Business or Visa "Credit". Debit cards, you will only have access to one account, designated as "Cheque" or "Credit". 3.9 Direct debits 3.9 (a) Direct Features debits and benefits (a) Features and benefits You can authorise a financial institution or any other person (eg your local supplier) You to debit can Your authorise Account. a financial See sections institution 2.2, or 2.3, any 2.4 other and person 2.5 for (eg Accounts your local which supplier) may be debited. to Your Account. will need to See enter sections into a 2.2, Direct 2.3, Debit 2.4 and Service 2.5 Agreement for Accounts with which the may person be who debited. will be You debiting will need Your to Account. enter into We a Direct will then Debit allow Service that person Agreement to debit with Your the Account person in who accordance will be debiting with Your that agreement. Account. We will then allow that person to debit Your Account in accordance with that agreement. (b) Some rules about direct debits (b) Some rules about direct debits To institute a direct debit arrangement, you will need to give your details, such as Your To institute Account a direct number debit and arrangement, BSB or Visa you Debit will Card need number, to give expiry your details, date and such in some as instances Your Account the three number digit and security BSB or code, Visa to Debit the person Card number, who will expiry be debiting date and Your in some Account. instances the three digit security code, to the person who will be debiting Your Account

55 Stopping a direct debit If you have set up a recurring debit instruction using your Visa Debit Card number, you will need to cancel the instruction with the authorised party and not through BOQ Direct Credits (a) Features and benefits (b) Some rules about direct credits 49 47

56 3.11 Transfer orders (a) Features and benefits You can arrange for us to transfer payments from Your Account automatically, so that you do not have to remember to make the payments yourself. This service is particularly useful for making loan payments, either to us or to another financial institution. This service is only available on Transaction Accounts, Business Investment Accounts and Business WebSavings Accounts TM. Unlike direct debits, the person you are paying does not need to know details, such as Account numbers (unless the person you are paying is us). You can instruct us at any time to cancel the service, however you must tell us at least one Bank Business Day before your next periodical payment is due. (b) Risks We will attempt to make payments on the days you tell us to. However, we are not responsible for: failing to make a payment; making a late payment; or any other failure to follow your instructions. If we do not make the payment, you are still responsible for making that payment. You must ensure that there are sufficient cleared funds in the Account when the payment is due. If there are not sufficient funds, the payment may not be made, and the Account may be charged a dishonour fee. If you do not tell us of cancellation of a transfer order at least one Bank Business Day before the next payment date, we may make that payment regardless of your instruction not to do so. (c) Stopping a transfer order If you have set up a transfer order from Your Account, and you want to stop a specific payment, you will need to tell us in writing at least one Bank Business Day before that transfer order is due and tell us: the amount of the payment; the payee; when the payment is due; and (d) the Account that the payment is to be deducted from. Other important information The funds will be transferred from Your Account on the day the transfer is due. If the transfer is going to an Account at another financial institution or to a credit card, even if the transfer is due on a Bank Business Day, we may not be able to pay it until the next Business Day

57 We can cancel your instruction for a transfer order at any time by telling you in writing. We will also stop transfers in other circumstances (for example death or bankruptcy) Mail Deposits (a) Features You can make cheque deposits to Accounts if you are unable to get to a branch by mailing the cheque deposit to us. Reply-paid envelopes and deposit slips are available free of charge through your local branch. You cannot make cash deposits to an Account by mail. (b) Risks Cheque deposits will not be credited to Accounts until they are received by us. We are not responsible if cheque deposits are lost in the mail. Please refer to section 3.5(d) for other important information about cheques Telegraphic transfers (a) Features and benefits We can transfer funds electronically to other banks within Australia and overseas. We will send the transfers to the payee s bank through other Australian and overseas financial institutions. Normally, we expect the overseas payment to arrive within 48 hours, but processing times can vary. (b) Risks We cannot guarantee when delivery of funds made by telegraphic transfer will arrive. If a payment is required to be made by a certain time, you must ensure that it is received by that time, even if you have instructed us to make payment by telegraphic transfer and we have not done so, or it has not arrived on time. We do not accept liability if a telegraphic transfer is not made, is late, or we fail to follow your instructions. If we do not make the payment, you are still responsible for making that payment Bank drafts (a) Features and benefits A draft is a cheque issued by us in foreign currency which is payable at an overseas bank. We can issue drafts immediately on request in all major currencies. Drafts are an economical method of making payment to someone overseas

58 (b) Risks A draft is an international bank cheque issued in a foreign currency. Drafts can be ordered in any of our branches and will be issued from our head office to the branch within 48 hours. Drafts are an economical method of making non-urgent overseas payments. You simply post the draft to the payee Foreign currency cheque deposits (a) Features and benefits Subject to our approval, you can lodge foreign currency cheques for credit to Your Account. We will convert the foreign currency amount to Australian dollars. Usually the exchange rate is applied on the day the cheque is credited to Your Account. Foreign currency cheques usually take 8 weeks to be cleared, but may take longer. You will not have access to the funds represented by the cheque until it is cleared. (b) Risks Like all cheques, a foreign currency cheque can be dishonoured. Because the exchange rate that is applied to the cheque is the rate on the day the cheque is credited to Your Account, the exchange rate may be more or less favourable to you than when you requested the foreign currency cheque, or when you first received the cheque. This means that the cheque may be worth more or less to you at the time of crediting to Your Account than when you received it Foreign currency sales and purchases (a) Features and benefits We can buy from you, or sell to you, foreign currency notes (subject to any restrictions imposed by the issuing countries). You can order foreign currency notes from any branch on a pre-paid basis. Orders are subject to currency being available to us. You will need to give us reasonable notice if you want to order foreign currency. Purchases are subject to certain currency and denomination restrictions. (b) Risks (i) Exchange Rate Risks Different exchange rates apply for buying and selling foreign currency. We calculate both sales and purchases on the rate applying at the time of the sale or purchase. 5246

59 If you sell foreign currency to us, the exchange rate applying at the time we purchase the currency may be more or less favourable to you than the time at which you purchased the foreign currency. The sale of foreign currency by you may result in a loss to you. If we sell foreign currency to you, the exchange rate applying at the time you buy the currency may be more or less favourable to you than the time at which you spend the foreign currency. This means that when you spend the foreign currency, it may be worth less to you. Particular foreign currencies might not be available to purchase at the time you wish to do so. (ii) Counterfeit Foreign Currency Notes Risk Should any foreign currency notes purchased from you subsequently be found to be counterfeit you authorise us to: (a) (b) Debit your Account with the counterfeit foreign currency notes value in Australian dollars. The Australian dollars debit amount will be calculated on the selling exchange rate applying at the time of the counterfeit foreign currency notes discovery by us; and Provide any counterfeit foreign currency notes to the relevant government agencies and authorities Fees and charges You acknowledge that our discovery of any counterfeit foreign currency notes bought from you may result in a loss to you. You can find details of fees and charges applicable to particular Payment Services in Business Banking Guide to Fees and Charges. 4753

60 4 ELECTRONIC ACCESS METHODS 4.1 Authorised Users In this chapter, a reference to you includes all Authorised Users accessing Your Account where the context allows, unless stated otherwise, and your has a corresponding meaning. 4.2 Terms and conditions of Electronic Access Methods You are bound by the terms and conditions relating to the use of an Electronic Access Method, when you first use it, and each subsequent use of the Electronic Access Method constitutes acceptance of the terms and conditions then in force. 4.3 Some rules about your Card These rules apply to all transactions involving the use of a Card and PIN. (a) Your Card and PIN Issue of Business Visa Debit Card Account holders will be required to authorise each cardholder to be issued with either a Full Access Card or a Restricted Access Card. Prior to being issued with a Full Access Card, the cardholder must become a signatory to the account. The Account holders must ensure that each cardholder is given a copy of these terms and conditions. The first time a cardholder signs a card or authorises a transaction on the account they automatically agree to these terms and conditions. A Full Access Card provides unlimited access to all features of the account to which the card is linked. A maximum daily limit applies, please refer section 3.4 (c) and 3.7 (c). A cardholder issued with a Restricted Access Card has limited access to the account to which the card is linked. For example, they can only purchase goods via EFTPOS and cannot withdraw cash via EFTPOS or at an ATM. By ordering a Business Visa Debit Card, the Account holder agrees to perform a reconciliation of their account transactions using either Internet Banking (if it is established) or the account statement, on at least a monthly basis. Please refer to section 4.9 Visa Debit disputed transactions for information about circumstances in which you may be entitled to dispute a Visa Debit transaction. You will receive a Card in the branch when you open your Account or in the case of a Visa Debit Card, through the mail within 7 business days of ordering a Card. For Account Access Cards, you are required to acknowledge receipt of the Card by signing an acknowledgement at the branch when the Card is issued. For Visa Debit Cards, sign your Card as soon as you receive it in the mail

61 (b) (b) A Card is valid only if it has been signed by you and is used during the validity period shown on the face of the Card. You must destroy any Card that is no longer valid by A cutting Card it is diagonally valid only in if it half. has For been cards signed with by chips, you and the is chip used must during also the be cut validity in two. period shown on the face of the Card. You must destroy any Card that is no longer valid by cutting A PIN will can it diagonally be set at time in the half. time of issue your either Card at is issued your branch - this for is a Account 4 digit number Access which Cards, you or via have a letter selected. mailed to you separately after your Visa Debit Card has been issued. A PIN is a A 4 digit PIN can number. set at the time your Card is issued - this is a 4 digit number which you have Your Business selected. Visa Debit Card PIN will be mailed to you separately after your Card has At any been time issued. the PIN You can can be changed your by PIN going at into any your time branch. by visiting You a branch. should change You should Your change your PIN Business your if a PIN record Visa if a of Debit record the Card PIN of the has PIN PIN been will has be lost mailed been or stolen. lost you or You stolen. separately should also after report your your Cardcard has lost and/or been issued. stolen You to BOQ's can change Contact your Centre. PIN Refer at any to time section by visiting 4.6 for a more branch. details You on should how change Any to report additional your PIN card(s) cardholders if a record lost will of stolen. the receive PIN has their been Card lost and or PIN stolen. separately mailed to the address held by the Bank for delivery. Any additional cardholders will receive their Card and PIN separately mailed to the address Section 4.5 held provides by the Bank some for guidelines delivery. on how to protect your Card and section 4.8 sets out some important information on liability for Unauthorised Transactions. Section 4.5 provides some guidelines on how to protect your Card and section 4.8 sets out Using some you important Card information on liability for Unauthorised Transactions. You Using agree you Your that Card we can debit your Account with all transactions performed using your Card other than as set out in section 4.8. You agree that we can debit your Account with all transactions performed using your We may Card assign other any than date as set we out consider in section appropriate 4.8. to debit or credit your Account (except that, in the case of a debit, the date must not be earlier that the date on We which may the assign relevant any transaction date we consider occurs.) appropriate to debit or credit your Account (except that, in the case of a debit, the date must not be earlier that the date on which We credit the deposits relevant transaction to your Account occurs.) as soon as practicable after we receive them. This is not necessarily the same day that you pay. We credit deposits to your Account as soon as practicable after we receive them. This When is you not perform necessarily a transaction the same day at an that ATM you or pay. EFTPOS terminal, you authorise us to act on the instructions entered into the terminal. When making purchases using When EFTPOS you you perform should a transaction ensure that at the an transaction ATM or EFTPOS amount terminal, is correct you before authorise you us to accept act on the the transaction. instructions By entered pressing into the the "OK" terminal. button When you indicate making your purchases agreement using EFTPOS that the transaction you should is ensure correct. that the transaction amount is correct before you accept the transaction. By pressing the "OK" button you indicate your agreement that When the you transaction are withdrawing is correct. cash at a branch you may be required to provide a second form of identification, such as a passport or driver's licence before we When process you the are withdrawal. withdrawing cash at a branch you may be required to provide a second form of identification, such as a passport or driver's licence before we process You may the also withdrawal. cash from your Account with your Visa Debit Card at a branch of another financial institution that displays the relevant Card Scheme logo. You may also withdraw cash from your Account with your Visa Debit Card at a branch In addition, of another you may financial withdraw institution cash from that your displays Account the relevant with your Card Visa Scheme Debit Card logo. at any ATM or branch of any bank throughout the world displaying the Card Scheme logo. In addition, you may withdraw cash from your Account with your Visa Debit Card at any A Restricted ATM or branch Access of Card any can bank only throughout be used the to make world a displaying purchase the via Card an EFTPOS Scheme logo. terminal. For Restricted Access Cards, access to cash will be unavailable via ATM, A EFTPOS Restricted or at Access a branch Card counter. can only Restricted be used Access to make Cards a purchase will only via allow an EFTPOS point of sale terminal. purchase For transactions. Restricted Access Cards, access to cash will be unavailable via ATM, EFTPOS or at a branch counter. Restricted Access Cards will only allow point of sale purchase transactions

62 If you have a Card for accessing business accounts and a Card for accessing If you have Card for accessing business accounts and Card for accessing personal Accounts, you should ensure that when you transact on an Account, personal Accounts, you should ensure that when you transact on an Account, you are using the correct Card for that Account. We recommend that you select you are using the correct Card for that Account. We recommend that you select different PINs for each Card. different PINs for each Card. (i) At a Merchant (i) At Merchant You can normally use your Card to obtain goods and services at Merchants You can normally use your Card to obtain goods and services at Merchants (such as shops, restaurants and theatres) in Australia and in the case of Visa (such as shops, restaurants and theatres) in Australia and in the case of Visa Debit Cards in most overseas countries, where the Card Scheme logo is Debit Cards in most overseas countries, where the Card Scheme logo is displayed. displayed. The fact that the Card Scheme logo is displayed at a Merchant's premises does The fact that the Card Scheme logo is displayed at Merchant's premises does not mean that we guarantee that all goods and services available there may be not mean that we guarantee that all goods and services available there may be obtained by using the Visa Debit Card. obtained by using the Visa Debit Card. Visa promotional material displayed on any premises cannot be taken as a Visa promotional material displayed on any premises cannot be taken as warranty by the Financial Institution, Merchant or any person carrying on warranty by the Financial Institution, Merchant or any person carrying on business there that all goods and services available at those premises may be business there that all goods and services available at those premises may be purchased with your Visa Debit Card. In Australia, where the particular Financial purchased with your Visa Debit Card. In Australia, where the particular Financial Institution, Merchant or other person carrying on business does not accept Visa Institution, Merchant or other person carrying on business does not accept Visa Cards, they may still allow you to purchase goods or services with your Visa Cards, they may still allow you to purchase goods or services with your Visa Debit Card if you select the "savings or cheque" button at an EFTPOS terminal. Debit Card if you select the "savings or cheque" button at an EFTPOS terminal. The price the Merchant charges for goods and services purchased with a Visa The price the Merchant charges for goods and services purchased with Visa Debit Card may vary from the price a Merchant charges for the same goods Debit Card may vary from the price Merchant charges for the same goods and services purchase with cash. In addition, a Merchant may charge for and services purchase with cash. EFTPOS transactions. We have no control over the hours a Merchant may be open for business. We have no control over the hours Merchant may be open for business. The hours during which an EFTPOS terminal will be available may therefore The hours during which an EFTPOS terminal will be available may therefore vary in accordance with the Merchant's opening hours. vary in accordance with the Merchant's opening hours. (ii) Through telephone, Internet, mail and fax order (ii) Through telephone, Internet, mail and fax order You can use your Visa Debit Card to obtain goods and services by telephone, You can use your Visa Debit Card to obtain goods and services by telephone, Internet, mail or fax order where the Merchant accepts that form of payment. Internet, mail or fax order where the Merchant accepts that form of payment. (iii) All transactions (iii) All transactions We are not responsible for goods or services obtained by using the Visa Debit We are not responsible for goods or services obtained by using the Visa Debit Card, unless the law makes us liable. If you have a complaint or concern about Card, unless the law makes us liable. If you have complaint or concern about goods or services purchased with your Visa Debit Card, you must resolve them goods or services purchased with your Visa Debit Card, you must resolve them directly with the Merchant. directly with the Merchant. (iv) Authorisation and processing (iv) Authorisation and processing If you select the 'credit' button when you use your Visa Debit Card to make If you select the 'credit' button when you use your Visa Debit Card to make EFTPOS purchases or you use the 16 digit Card number to purchase or pay EFTPOS purchases or you use the 16 digit Card number to purchase or pay for goods and services, the Merchant or other person involved in the transaction for goods and services, the Merchant or other person involved in the transaction may obtain an authorisation for the transaction before the transaction is made. may obtain an authorisation for the transaction before the transaction is made. This authorisation is for the purpose of establishing that there are sufficient This authorisation is for the purpose of establishing that there are sufficient funds available in your Account for the transaction. This authorisation may be funds available in your Account for the transaction. This authorisation may be completed for a transaction that occurs at a later time such as car hire, completed for transaction that occurs at later time such as car hire, accommodation and transactions at unmanned terminals (for example, accommodation and transactions at unmanned terminals (for example, unmanned petrol stations). unmanned petrol stations)

63 Once authorisation is obtained, it will reduce the amount of available funds in your Account. If the purchase or other transaction is not completed, the amount of available funds in your Account may continue to be reduced for up to 8 Business Days after the authorisation is obtained. For Full Access Cards, you can access funds in your Account at any international ATM where the Card Scheme logo is displayed, by using your Visa Debit Card and PIN. To access funds from your Account at an overseas ATM, select the 'credit' button. Transaction fees apply for the use of ATMs overseas. If the amount of the ransaction is more than your available balance, the transaction may be rejected and no fees will be charged. Some overseas ATM locations may impose a surcharge when you use their ATM to make a withdrawal. Surcharges will not appear as a separate item on the account statement, but will be included in the total transaction amount shown. All transactions will be converted into Australian dollars by Visa International in accordance with its rules. Transactions will either be converted directly to Australian dollars or will be first converted from the currency in which the transaction was made to US dollars and then converted to Australian dollars by Visa International. (c) Transaction limits on Cards (d) Vouchers and receipts When you use your Card, the Merchant or financial institution or any other party you are using the card with, is obliged to give you a receipt. voucher or receipt number. You must check the that correct the correct amount amount is entered is entered in an in EFTPOS an EFTPOS terminal terminal before you authorise written in the "total" transaction. box on You a voucher must also before check you that authorise the amount the transaction any receipt or, received when using is correct. your Visa Debit Card and signing the voucher. You must also check that the amount on any receipt received is correct. You agree that the amount shown on any cash withdrawal receipt or transaction record is sufficient evidence of the cash price of the goods or services or the amount of the withdrawal to which that transaction record relates. You should keep all transaction records given to you by Merchants and financial institutions, or issued by ATMS, to help you check statements

64 You agree that the amount shown on any sales voucher, cash withdrawal receipt voucher or transaction record is sufficient evidence of the cash price of the goods or services or the amount of the withdrawal to which that voucher or transaction record relates. You should keep all vouchers and transaction records given to you by Merchants and financial institutions, or issued by ATMs, to help you check statements. (e) The Card remains our property (f) Card cancellation Account. Except that you will not be liable for the continuing use of an additional Card from the later of: (i) (ii) the date you request us to cancel the additional Card; and when you have taken all reasonable steps to have the additional Card returned to us. (g) Card re-issue We can issue a new Card to you at any time. All re-issued Cards are subject to these terms and conditions. We reserve the right not to re-issue a Card. Fees may apply to the re-issue of Cards. Refer to Business Banking Guide to Fees and Charges for details. 4.4 Some rules about Electronic Access Methods (a) When these rules apply These rules apply when you or a Related Account User uses a Card, Identifier or

65 re-issue of Cards. Refer to Business Banking Guide to Fees and Charges for details. We can issue a new Card to you at any time. All re-issued Cards are subject to these 4.4 Some terms and rules conditions. about We Electronic reserve the right Access not to re-issue Methods a Card. Fees may apply to the re-issue of Cards. Refer to Business Banking Guide to Fees and Charges for details. (a) When these rules apply 4.4 Some rules about Electronic Access Methods These rules apply when you or a Related Account User uses a Card, Identifier or (a) Code When to these access rules Accounts. apply Examples of Electronic Access Methods are: These rules using apply a Card when and you PIN or at a Related ATMs, EFTPOS Account terminals User uses and a Card, branch Identifier teller or Code to access terminals; Accounts. and Examples of Electronic Access Methods are: (b) (b) (c) (c) Access to Tap using Nominated and a Card go Visa and Accounts Debit PIN paywave at ATMs, EFTPOS transactions terminals where and no PIN branch may teller be requested terminals; and for transactions under $100. Unless you have notified us that: Access to Nominated Accounts the Card has been misused, lost or stolen or the security of your PIN has Unless you been have breached, notified you, us that: the Account holder, agree that we are entitled to allow operations on Nominated Accounts where your Card is used and the correct PIN the Card has been has been provided; misused, or lost or stolen or the security of your PIN has been breached, you, the Account holder, agree that we are entitled to allow the operations components on Nominated of an Electronic Accounts Access where Method your Card have is used been and misused, the correct lost or PIN stolen has been or the provided; security of or one of your Codes has been breached, you, the Account holder, agree that we are entitled to allow operations on Nominated Accounts the components where the of an correct Electronic Identifiers Access and Method Codes have have been been misused, provided. lost or stolen or the security of one of your Codes has been breached, you, the You, the Account holder, agree acknowledge that we and are entitled accept to that allow we cannot operations verify on by Nominated way of signature Accounts comparison where whether correct the person Identifiers accessing and Codes Nominated have Accounts been provided. using the Codes is you or an Authorised User. You, the Account holder, acknowledge and accept that we cannot verify by way of Nominating signature comparison Accounts whether for Electronic the person Transactions accessing Nominated Accounts using the Codes is you or an Authorised User. You, the Account holder, must specify Nominated Accounts at the time you apply for Nominating the Electronic Accounts Access Method. for Electronic You can Transactions nominate different Accounts for different Electronic Access Methods but you must nominate at least one Account for each You, access the method. Account holder, must specify Nominated Accounts at the time you apply for the Electronic Access Method. You can nominate different Accounts for different Electronic You, the Account Access holder, Methods may but make you must a written nominate application at least to one us to Account alter thefor each Nominated access method. Accounts at any time. The alteration will be effective on our approval of the request. We will provide written confirmation to you when any alteration is You, made the to Account the Nominated holder, Accounts. may make a written application to us to alter the Nominated Accounts at any time. The alteration will be effective on our approval of the request. We will provide written confirmation to you when any alteration is made to the Nominated Accounts

66 604

67 access is unavailable due to electrical short circuit, power failure, telecommunications failure or fault, industrial dispute, act of God or other causes beyond our control; or access is unavailable due to emergency or unscheduled maintenance. We can, at any time, change: the types of Accounts that can be operated using an Electronic Access Method; without notice to you, the types of transactions you can perform using an Electronic Access Method; the types of Electronic Equipment that can be used to provide access; and the hours during which an Electronic Access Method or any part of it is available. If, due to a service fault or difficulty with BOQ ATMs, or Internet Banking, you do not receive confirmation that the service has received your instructions, you must notify us between 7.00 a.m. and 7.00 p.m. (AEST) 7 days per week by telephoning or if you are calling from outside Australia. (f) Warranties We do not warrant: that the Electronic Access Method will be available at all times, will be uninterrupted or error-free; or the quality, accuracy or fitness for any particular purpose of the Electronic Access Method. (g) Protecting Electronic Access Methods The security of Card, PIN and Personal Access Code is important as anyone who has them may be able to make transactions on your Nominated Accounts. You must make every effort to ensure that your Card and Codes are not misused, lost or stolen. 4.5 Protecting Card and PIN To protect the Card, you must: sign it as soon as you receive it; carry it with you whenever you can; regularly check that you still have it; and not give the Card to anyone else, including a family member or friend

68 By selecting a PIN which can be linked to your date of birth or alphabetical Code this can make it easier for other people to guess the Code and lead to fraudulent activity on your account. You will be liable for any losses if it can be proved you used a Code with these characteristics. Each Additional Cardholder can also select their own PIN. You must ensure that each Additional Cardholder protects their Card and stores their PIN as safely as these terms and conditions require you to protect and store yours. 626

69 The best way to make a report is to call BOQ s Contact Centre on within Australia or if you are calling from outside Australia 6 (24 hours a day, 7 days a week). 63

70 The liability for losses resulting from unauthorised transactions will be determined by the epayments Code. are incurred on any one day that exceeds any applicable daily transaction limit; result from an Unauthorised Transaction that can be made using an identifier without a Code. Where a transaction can be made using a Card, but does not require a Code, you will be liable only if you unreasonably delay reporting the loss or theft of the Card. $150, or a lower figure determined by the Bank; or 648

71 If we can prove on the balance of probability that you contributed to the loss arising from the Unauthorised Transaction: 8 by leaving a Card in an ATM, as long as the ATM incorporates reasonable safety standards that mitigate the risk of a card being left in the ATM; ; ; for losses incurred due to your failure to protect a Code for one or more (but not all) of the required Codes. However, you will only be liable if BOQ can prove that on the balance of probability that your failure to protect the Code was more than 50% responsible for the losses, when assessed together with all the contributing causes. You, the Account holder, will be liable for the actual losses that result from an Unauthorised Transaction which occur before we are notified of the breach of the Electronic Access Method, except for: 65

72 If we can prove on the balance of probability that you contributed to a loss caused by an Unauthorised Transaction by unreasonably delaying notification of: transaction limit applicable to the Nominated Account(s) or the relevant Electronic Access Method; 9 that portion of the losses incurred in a period which exceeds any other periodic transaction limit applicable to that period; that portion of the losses incurred on any Nominated Account which exceeds the balance of that Nominated Account (including any pre-arranged credit); losses incurred on any Nominated Accounts which the Account holder and we had agreed could not be accessed using the relevant Electronic Access Method. (e) Liability caused by equipment malfunction We are not liable for any consequential and indirect loss, expense or damage, which may arise where there is a malfunction of our Electronic Equipment and you should have been aware that the system or equipment was unavailable for use or malfunctioning. We are responsible to you for any loss caused by a failure of our Electronic Equipment to complete a transaction accepted by that Electronic Equipment in accordance with your instructions. However, if you were aware, or should have been aware, that our Electronic Equipment was unavailable for use or malfunctioning, our responsibility will be limited to correcting errors in the Nominated 66Account and refunding any charges or fees imposed as a result.

73 should malfunctioning. have been aware that the system or equipment was unavailable for use or malfunctioning. We are responsible to you for any loss caused by a failure of our Electronic We Equipment are responsible to complete to you a transaction for any loss accepted caused by a that failure Electronic of our Electronic Equipment in Equipment accordance to with complete your instructions. a transaction accepted by that Electronic Equipment in accordance with your instructions. However, if you were aware, or should have been aware, that our Electronic However, Equipment if was you were unavailable aware, for use should or malfunctioning, have been aware, our responsibility that our Electronic will be limited Equipment to correcting was errors unavailable in the Nominated for use or malfunctioning, Account and refunding our responsibility any charges will be or fees limited to imposed correcting as a errors result. in the Nominated Account and refunding any charges or fees imposed as a result. We will not be responsible if the Electronic Equipment does not accept your We instructions will not be or responsible the Card fails if the to work Electronic in the Equipment terminal. does not accept your instructions or the Card fails to work in the terminal. 4.9 Visa Debit disputed transactions 4.9 Visa Debit disputed transactions (a) Reversing a transaction (a) Reversing a transaction Where you have authorised another person or company (a Merchant) to transact Where on your you Account have authorised by providing another your Visa person Debit or Card company number (a Merchant) or used your to transact Card to on make your a Account purchase by at providing an EFTPOS your terminal Visa Debit by selecting Card number the 'credit' or used button, your Card you may to make be entitled a purchase to dispute at an or EFTPOS 'chargeback' terminal the transaction by selecting where the 'credit' you have button, a dispute you may with be the entitled Merchant. to dispute For example, or 'chargeback' you may the be transaction entitled to reverse where you a transaction have a dispute where with the the Merchant Merchant. has For not example, provided you with may the be entitled goods or to services reverse you a transaction paid for. where the Merchant has not provided you with the goods or services you paid for. Note that we are not able to dispute (chargeback): Note that we are not able to dispute (chargeback): direct debit transactions set up using your Account number and branch direct number debit (BSB); transactions or set up using your Account number and branch number (BSB); or Transactions at EFTPOS terminals when you have selected the 'savings Transactions or cheque' button; at EFTPOS or terminals when you have selected the 'savings or cheque' button; or BPAY payments (refunds in connection with the BPAY scheme can only be BPAY claimed payments using the (refunds procedure in connection set out in the with Electronic the BPAY Banking scheme Terms can only and be claimed Conditions). using the procedure set out in the Electronic Banking Terms and Conditions) (b) Time limits for disputing a transaction 67

74 r t (b) (b) (c) (c) r and you or ited es Time Time limits limits for disputing for a transaction a e-payments code No credit No credit (b) Time limits for disputing a transaction ct o ay with the gs (d) (c) No credit (d) Using Using your Card your outside Card outside Australia Australia Australian currency where this is offered by the Merchant and agreed between you and the Merchant. 68

75 4.10 Limitation on our liability e-payments code, for the unavailability circumstances

76 vary the minimum balance to which an account keeping fee applies; vary the balance ranges to which an interest rate applies; We will notify you of these changes or any other change to the Banking Services we provide to you by writing to you, placing a notice in a major daily newspaper, placing a notice on or with statements of Account or other material we send to you, placing information on our Internet Banking sign-in page (where the change relates to Internet Banking) or placing a notice on our ATMs (where the change relates to ATM access or functionality). We may not be able to notify you in writing where you cannot reasonably be located. For joint Accounts, we will only send one notice to the last mailing address

77 If you have agreed to us doing so, we can notify you of any changes by , or by posting the information on our website. If the information is posted on our website, we will tell you promptly of that fact by sending a message to your address. If you have agreed to us contacting you in this way, you can revoke your agreement at any time by advising us that you longer wish to be contacted electronically. You can also update your address as set out in section 6.4. If you elect to receive notices by , you cannot receive paper copies of those notices from us. If you do not check your regularly, you might not be aware of a change to Your Account until after the change has become effective. Even if you have not agreed to us notifying you of changes electronically, if a change to these terms and conditions is not materially adverse to you, we may update this document by posting a notice of the change on our website. A paper copy of any updated information will be given to you without charge on request. We may also issue an addendum with new information. The current terms and conditions and any addenda will be available in paper form from any BOQ branch or Business Banking Centre and in electronic form from the BOQ website at boq.com.au. If there are enough changes to these terms and conditions to warrant doing so, we will consolidate them in a single publication. 5.2 If you get into financial difficulty We strongly advise you to tell us immediately if you are in financial difficulty. We will try to help you, provided that any action we take would be fair and reasonable in the interests of you, our other customers and shareholders. 5.3 Maintaining security You and your Authorised Users must safeguard all mechanisms used to access Your Account against loss, theft or misuse, including Cards, cheques, transaction record books, PINs and Personal Access Codes. You and your Authorised Users must tell us as soon as possible if any payment instrument or Account access mechanism is lost, stolen or misused. 5.4 Covering us for loss You agree that if we suffer any loss because of: the use or misuse of an Account; the use or misuse of any payment instrument or Account access mechanism used with Your Account; or any breach of the terms and conditions in this booklet, by you or anyone authorised by you to use Your Account, you will pay us the amount of that loss on demand, including all legal costs on a full indemnity basis, even after Your Account is closed

78 726

79 6.2 epayments code We will comply with the epayments code which regulates consumer electronic payment transactions, including ATM, EFTPOS and credit card transactions, online payments, internet and mobile banking, and BPAY

80 If you have a problem or dispute 7 71 (a) Our service commitment At BOQ we are committed to providing our customers with innovative banking solutions and the best possible customer service experience. (b) How to contact us (07) (c) How will your complaint be handled? Please note we comply with the epayments code compalint investigation and resolution procedures in connection with Electronic Transactions to which the epayment code applies. BOQ Customer Relations Department 74

81 (d) What to do if you feel your complaint has not been resolved If you remain dissatisfied with the outcome and you would like an independent review of the complaint and the result, you can refer your complaint to: Financial Ombudsman Service Limited (FOS) GPO Box 3 Melbourne VIC 3001 Telephone: Fax: (03) Internet: The Australian Securities & Investments Commission (ASIC) also has an information line: You can use this number to make a complaint and obtain further information about your rights. For further information on solving problems and disputes please ask at any branch for our We would like to know brochure Changing details If your personal or business address or any other details change, you must let us know as soon as possible. Many details can be changed simply by calling our Customer Contact Centre on from 7.00 a.m. to 7.00 p.m. (AEST), 7 days per week or by visiting your local branch or Business Banking Centre. If you want to change the signatories on Your Account, you must visit one of our branches Contacting you From time to time we will contact you or send you information about products and services that we think you might be interested in. Please tell us if you do not wish to receive this information Privacy and confidentiality You can ask us for a copy of our Privacy Policy at any time. Our Privacy Policy sets out how we deal with any personal information that we hold about you. The Privacy Notification and Consent Form received when Accounts are opened provides you with more information about how we use personal information The relationship between banker and customer The relationship between a bank and its customer (including the relationship between you and us) has been defined by a number of court cases. Set out below are some of the terms which are implied into any contract between a bank and its customer

82

83 77 71

84 6.9 78

85 DEFINITIONS Account Additional Cardholder is an Authorised User to whom we have issued a Card. Any One to Operate Account Application ATM means an automated teller machine owned by us or somebody else (as the context requires). ATM Operator An organisation, that owns, leases or operates an ATM other than a BOQ ATM. ATM Operator Fee Balance Enquiries BOQ Balance Enquiry, being a request for an account balance conducted through a non-boq ATM. Bank Business Day is any day on which BOQ is open for business. Banking Services BOQ ATM BOQ ATM means a BOQ branded ATM and includes an ATM belonging to the rediatm network. BOQ is a participant in the rediatm network. BPAY BSB BOQ (12) located in Queensland (4), Business Day Card Card Scheme Code Daily Transaction Limit EFTPOS 77 79

86 Code Daily Transaction Limit EFTPOS Electronic Access Method is a method that 77 you or Authorised Users use to instruct us to debit or credit an Account through Electronic Equipment, and which requires the use of a Card, Identifiers, Codes or combinations of these. It does not include a method that requires a Electronic voucher, receipt Access or Method other document is method to be that signed. you or Authorised Users use to instruct us to Electronic Access Method is a method that you or Authorised Users use to instruct us to debit or credit an Account through Electronic Equipment, and which requires the use of Electronic debit or credit Equipment an Account is an through electronic Electronic terminal, Equipment, computer, and television, which requires telephone the use or similar of a Card, Identifiers, Codes or combinations of these. It does not include method that requires equipment Card, Identifiers, and includes Codes or our combinations branch teller of terminals, these. It our does ATMs, not include ATMs of a other method financial that requires voucher, receipt or other document to be signed. a institutions, voucher, receipt EFTPOS or other terminals document and any to other be signed. authorised electronic terminal or device connected Electronic to Equipment our electronic is an banking electronic system terminal, from computer, time to time. television, telephone or similar Electronic Equipment is an electronic terminal, computer, television, telephone or similar equipment and includes our branch teller terminals, our ATMs, ATMs of other financial equipment Electronic and Transaction includes our is a branch transfer teller of funds terminals, initiated our by ATMs, an instruction ATMs of other you financial institutions, EFTPOS terminals and any other authorised electronic terminal or an device Authorised institutions, EFTPOS terminals and any other authorised electronic terminal or device connected User gives to through our electronic Electronic banking Equipment system using from an time Electronic to time. connected to our electronic banking system from time to time. Access Method to debit or credit an Account and includes, for example: Electronic Transaction is transfer of funds initiated by an instruction you or an Authorised Electronic Transaction is a transfer of funds initiated by an instruction you or an Authorised User gives withdrawing through Electronic cash from Equipment an Account using from an an Electronic ATM or BOQ Access branch Method teller to terminal debit or User gives through Electronic Equipment using an Electronic Access Method to debit or credit an using Account your and Card includes, and PIN; for example: credit an Account and includes, for example: purchasing withdrawing goods cash from or services an Account from from a Merchant an ATM by or using BOQ your branch Card teller and terminal PIN at an EFTPOS withdrawing terminal. cash from an Account from an ATM or BOQ branch teller terminal using your Card and PIN; using your Card and PIN; FMD epayments Laws purchasing means code is the goods the Income epayments or services Tax Assessment code from published Merchant Act 1997 by the by (Cth) Australian using and your the Securities Card Income and Tax and PIN (Farm at an purchasing goods or services from a Merchant by using your Card and PIN at an Management Investment EFTPOS Commission. Deposits) terminal. EFTPOS terminal. Regulations 1998 and other related legislation dealing with farm management deposits and as amended from time to time. FMD Laws means the Income Tax Assessment Act 1997 (Cth) and the Income Tax (Farm FMD Laws means the Income Tax Assessment Act 1997 (Cth) and the Income Tax (Farm Management Full Access Card Deposits) is a Visa Regulations Debit Card 1998 where and other primary related account legislation holder dealing provides with full farm Management Deposits) Regulations 1998 and other related legislation dealing with farm management access to a nominated deposits and account as amended where Visa from is time accepted. to time. management deposits and as amended from time to time. Internet Full Access is the Card worldwide is Visa connection Debit Card of where computer the networks primary account providing holder for the provides transmission full Full Access Card is a Visa Debit Card where the primary account holder provides full of access electronic to nominated mail, online account information, where information Visa is accepted. access to a nominated account where Visa is accepted. retrieval and file transfer protocol. Internet Banking is our Internet banking service which enables you or an Authorised User, Internet is the worldwide connection of computer networks providing for the transmission Internet having entered is the worldwide in security connection details, to effect of computer transactions networks on Nominated providing for Accounts the transmission using the of Internet. electronic mail, online information, information retrieval and file transfer protocol. of electronic mail, online information, information retrieval and file transfer protocol. Internet Banking is our Internet banking service which enables you or an Authorised User, having Investment Internet Banking entered Account is our in security means Internet details, Business banking to effect Investment service which transactions Account, enables on Nominated Business you WebSavings or an Authorised Accounts using Account, User, the having Internet. BOQ Superannuation entered in security Savings details, Account, to effect Easy transactions Investment Account on Nominated and Premier Accounts Investment using Account. the Farm Internet. Management Deposit Account, Farm Management EOT, Farm Management Monthly. Investment Account means Business Investment Account, Business WebSavings Account, Investment Account means Business Investment Account, Business WebSavings Account, BOQ Superannuation Savings Account, Easy Investment Account and Premier Investment Account. BOQ Superannuation Savings Account, Easy Investment Account and Premier Investment Account. Farm Management Deposit Account, Farm Management EOT, Farm Management Monthly. Farm Merchant Management is a provider Deposit of goods Account, or services Farm Management who allows you EOT, or Farm an Authorised Management User Monthly. to pay for goods Investment or services Trust by Account performing means an Controlled Electronic Transaction. Money Account, Solicitors Investment Trust Account and Real Estate/Agents Investment Trust Account. Nominated Merchant is Account provider is of a BOQ goods Account or services you have who allows nominated you or in writing, an Authorised and we User have to approved, pay for Merchant is a provider of goods or services who allows you or an Authorised User to pay for for goods access or services using an by Electronic performing Access an Electronic Method, Transaction. goods or services by performing an Electronic Transaction. subject to approval limits. Nominated Owner Managed Account Branch is BOQ means Account a branch you of have the BOQ nominated that is in owned writing, and and operated we have by approved, Nominated Account is a BOQ Account you have nominated in writing, and we have approved, an for independent access using third an party Electronic as our Access authorised Method, representative. subject to approval limits. for access using an Electronic Access Method, subject to approval limits. Owner Managed Manager means Branch the means manager branch of an of Owner the BOQ Managed that is Branch. owned and operated by an Owner Managed Branch means a branch of the BOQ that is owned and operated by an independent third party as our authorised representative. independent third party as our authorised representative. Payment Service includes any of the services described in chapter 3. PIN Owner is your Manager personal means identification the manager number of an that Owner 80 is used Managed in conjuction Branch. Owner Manager means the manager of an Owner Managed Branch. with your Card to enable you to access Nominated Accounts and perform Electronic Transactions using Electronic

87 Nominated Account is a BOQ Account you have nominated in writing, and we have approved, for access using an Electronic Access Method, subject to approval limits. Nominated Account is a BOQ Account you have nominated in writing, and we have approved, for access using an Electronic Access Method, subject to approval limits. Owner Managed Branch means a branch of the BOQ that is owned and operated by an independent third party as our authorised representative. Owner Managed Branch means a branch of the BOQ that is owned and operated by an independent third party as our authorised representative. Owner Manager means the manager of an Owner Managed Branch. Owner Manager means the manager of an Owner Managed Branch. Payment Service includes any of the services described in chapter 3. PIN is your personal identification number that is used in conjuction with your Card to enable you Payment to access Service Nominated includes Accounts any of the and services perform described Electronic in Transactions chapter 3. using Electronic PIN Equipment. is your personal identification number that is used in conjuction with your Card to enable you to access Nominated Accounts and perform Electronic Transactions using Electronic Equipment Prime production business has the meaning as defined in the Income Tax Assessment Prime Act 1998 production (Cth). business has the meaning as defined in the Income Tax Assessment Act 1998 (Cth). Restricted Access Card is a Visa Debit Card where the primary account holder chooses to Restricted restrict access Access to EFTPOS Card is transactions a Visa Debit only Card and where also the selects primary a daily account limit amount holder chooses restricting to restrict the card access useage. to EFTPOS transactions only and also selects a daily limit amount restricting the card useage. Third Party Account Third Party Account Third Party BOQ credit card the Account holder s name. Third Party BOQ credit card the Account holder s name. Transaction Account means Everyday Business Account, Investment Trust Accounts, Unlimited Transaction Business Account Account, Business Cheque Account, Business Management Account and Trust Accounts. Trust Accounts Trust Accounts Unauthorised Transaction Unauthorised Transaction Visa Debit Card Visa Debit Card we our we our us us you you 81

88 boq.com.au Issuer: Bank of Queensland Limited ABN Australian Financial Services Licence Number Australian Credit Licence Number