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Changes to our Terms & Conditions and Fees & Charges

22 February 2024

Changes to our Terms & Conditions and Fees & Charges

We have updated our Account & Access Facility Terms & Conditions and our Schedule of Fees & Charges documents, effective 22 February 2024. To help you understand the changes that may affect you, we’ve provided a summary of the key changes below.  


Account & Access Facility Terms & Conditions 

We have reformatted this document to make it easier to read and clearer to understand: 

  • What transaction and savings accounts are available and how they work,  
  • What access facilities are available to each account, how you use them, daily transaction limits and any specific conditions, 
  • Your obligations to protect your accounts, and 
  • How we’ll communicate with you about any changes.  

More specifically, we’ve highlighted that cheques will no longer be available as an access facility, including bank cheques, from 29 March 2024. We’ve also updated the term deposit early withdrawal fee calculation to the benefit of our members, by introducing additional tiers for how much your interest rate will be reduced based on the term remaining.  


Schedule of Fees & Charges 

Military Rewards Account 

We have removed the $4 monthly account keeping as well as the EFTPOS, BPAY, Direct Debit and External Transfer transaction fees from our Military Rewards account.  

Cheque Facilities 

Highlighted the cheque related fees that will no longer apply from 29 March 2024, once cheques are no longer available as an access facility. 

Overseas Telegraphic Transfer Fees  

The fee for telegraphic transfers in Australian Dollars has been updated. 

Term Deposits 

We’ve included the term deposit early withdrawal fee calculation, which was previously only documented in the Account & Access Facilities Terms & Conditions.  

Home and Investment Loans Fees 

New home loan processing fee will be reduced, whilst selected other home loan related fees such as loan variations have been updated to reflect our fee and highlight when third party costs may be incurred. We have introduced two new fees for new home loans:  

  • Rate Lock fee (to lock in a fixed rate interest rate between formal contract approval and your settlement), and 
  • Document Re-issue fee (if you make changes to your home loan application after formal approval and we need to re-issue your home loan contract again).  

The early loan repayment fee for variable home loans taken out prior to 1 July 2011 has been removed. We have included the fixed rate home loan break cost calculation for your reference (which is also included in your home loan contract). 


What do you need to do? 

There is nothing you need to do now; however we encourage you to read the updated documents on our website here as you are bound by these Terms & Conditions by continuing to operate your accounts. 


Any questions? 

If you have any questions, please call us on 1300 13 23 28 (Monday to Friday, 8.00am – 6.00pm and Saturday 9.00am – 12.00pm AEST) or email us on

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