Following recent changes to the Australian payment network, we’ve made the decision to retire Eftpos from MOVE Bank Visa Debit Cards from 1 November 2021.
Why is MOVE Bank making this change?
MOVE Bank along with a number of other Australian financial institutions have made the decision to simplify card payment processing by shifting to a single payments network – Visa.
Visa was selected as it offers one of the most widely accepted card networks worldwide for payments in-store, online, at ATMs and over the phone – anywhere the Visa logo is displayed.
The decision to retire Eftpos from MOVE Bank Visa Debit Cards on 1 November 2021 will simplify payments and ensure we are not duplicating existing VISA payment services.
What does this mean for me?
Members will receive a replacement MOVE Bank Visa Debit Card in mid-October, which will need to be activated through Internet Banking, the MOVE Bank App, or by calling our team.
Once your replacement card is activated, there are a few things you’ll need to keep in mind:
Select Credit when making purchases: If you’re making a purchase by inserting your card at a terminal, you’ll need to select the Credit/CR button to ensure you’re using the Visa network, otherwise your transaction will decline. Despite the name, selecting ‘Credit’ on your debit card will use the savings in your account.
TIP: Tap and Pay with Visa is the easiest way to make purchases.
Getting cash out:
At the ATM and Australia Post: you’ll still be able to get cash out from ATMs and from Australia Post through Bank@Post as usual.
At the supermarket: there will be some changes if you usually withdraw cash at the supermarket. You’ll be limited to withdrawing cash from retailers within the Woolworths Group and will need to ensure you’re selecting Credit/CR when you do.
We understand that this update will impact members and are committed to making this change to your service as seamless as possible.
For more information, please visit movebank.com.au/eftpos-update