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DPS Conditions of Use - Summary of Major Changes

Effective 01 February 2018

The following is a summary of major changes which have been included in the revised document:


> On page 2 of the DPS, Pensioner Deeming has been amended to Pension Saver. With effect 01 February the Pensioner Deeming account will be known and referred to as the Pension Saver account. This has been amended for the 8 occasions where the product is referred to in the DPS including the product and access matrices on pages 23, 28 and 55 and in the Interest table on page 24

> Cadet Saver, Teen Saver and Reservist Saver accounts have been added on page 2 of the DPS and to the product and access matrices on pages 23, 28 and 55 and in the Interest table on page 24

> The following definitions have been added or amended in the Definitions section on page 7:


BPAY payment – a payment transacted as part of the BPAY Scheme but does not include an Osko payment.
Fees and Charges Schedule – a document produced by us setting out fees and charges applicable to products and services provided by us.
Mobile device – a portable or handheld device such as a smartphone or tablet computer.
NPP – means the New Payments Platform, an open access infrastructure facilitating the making of fast payments in Australia.
Offset account – any account where the balance is offset 100% against the balance of a linked mortgage loan
Osko – the payment service provided by BPAY utilising the functionality of the NPP.
Osko terms – the terms that apply when Osko payments are made or received as set out in Part 4, Section 1A of this DPS (Payment Facilities and Services – Osko payments)


>The following variation has been added to the Varying Terms and Conditions table on page 11

Variation Period of Notice
Other Changes Before the change or event occurs or as soon as practicable after, but not more than 3 months after, the change or event occurs

We will notify you of changes in writing, by posting notice to our website or where authorised, electronically


> On page 12, Complaints and Disputes Resolution Process has been revised to include details following the appointment of an internal Customer Advocate


> On page 17, Veda Advantage has been amended to Equifax and veda.com.au has been amended to Equifax.com.au following a change of ownership


> On page 19, Part 1 General Information, Section 1 - Account Opening, Tax File Number – An additional clause has been added referencing non-residents of Australia


> On page 23, Part 1 General Information, Section 2 – Account Operation, Closure of Accounts has been modified


> On page 26, Part 3 Term Deposit Specific Information has been modified


> On page 29, The Electronic Banking Transaction Products Matrix has been amended to include Osko/PayID


> On page 24, The Savings Account Product Matrix has been amended to include Osko/PayID


> On page 36, Part 4 Payment Facilities and Services, Section 1 – Electronic Banking, Specific Terms and Conditions - Electronic Banking has been modified


> On page 41, Part 4 Payment Facilities and Services, Section 1 – Electronic Banking Clause 4.1 has been modified


> On page 43, Part 4 Payment Facilities and Services, Section 1 – Electronic Banking Clause 6 has been modified


> On page 51, Part 4 Payment Facilities and Services, Section 1A – Osko Payments has been added


> On page 60, The payment services matrix has been amended to include Osko/PayID


> On page 62, Part 4 Payment Facilities and Services, Section 3 – Other Payment Facilities and Services, Specific Terms and Conditions Direct Debits, clause 1.8 Direct Debits has been amended

> On page 76, Part 5 Visa Debit Card/rediCARD Conditions of Use

– Clause 15.3 has been modified
– New clauses 15.4, 15.5 and 15.6 have been added and the other subsequent sub-clauses have been re-numbered


> On page 90, Part 7 PayID Terms has been added


> On pages 2, 20, 28, 33, 35, 36 and 65 references to redi2PAY app have been removed as the app was decommissioned as at 31/12/2017

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