Important updates to our terms and conditions

Part of our commitment to our members is to ensure that we provide all the products and services that you need and expect from a bank. To deliver on this, we are making some changes to our products and the terms and conditions.

All changes to terms and conditions will take effect from Moving Day, which is the date when we move to our new platform. We will keep you informed when this will be.

Overview of key product updates

We have summarised some of the key changes to our products here to help you.

Please ensure you read the terms and conditions in full, so you understand the impacts on your individual circumstances, and contact us if you have any questions.

If you have a MoveBank transaction or savings account

There are no more account-keeping fees.

• We're removing the $5 monthly account keeping fee on our transaction accounts. From Moving Day, this fee is $0.

The Everyday Saver Account is being renamed.

• We are changing the name of this product to Everyday Transaction Account.
• If you have an overdraft attached to this account, this does not change.
• If you have an Everyday Saver (Offset) Account, this becomes an Everyday Transaction Account.
  
  • Note: the Offset feature will be available on this account and any existing Offset will be honoured.

There are some changes to how interest is calculated and paid.

• The interest rate on your Everyday Transaction Account (formerly Everyday Saver Account) will change from 0.01% to 0%.
• Interest will be paid at the start of each month, rather than on the last day of the month.
• Interest will be calculated using the actual number of days in the year (365 days, or 366 in a leap year).

If you have a MoveBank term deposit, home loan or car loan

There are some changes to how interest is calculated and paid.

• Interest will be calculated using the actual number of days in the year (365 days, or 366 in a leap year).