Increase to contactless limits requiring PIN.

All domestic contactless transactions at a terminal between $100 - $200 may no longer require a PIN to be entered into the terminal.

As part of an industry-wide change, we would like to advise you that any contactless payments made on our Visa Debit and Credit Cards (including Salary Packaging), will now have contactless limits with the need for a PIN, increased from $100 to $200. The change will start to occur overnight on Monday 6th April, at selected merchants/stores, and a gradual roll out will continue over the coming weeks.

The change is being put in place by both Visa and MasterCard, following a request from the Reserve Bank of Australia. This is to reduce the risk of COVID-19 transmission by limiting customer contact with POS devices (EFTPOS terminals). Similar changes have already been implemented in several countries across Europe.

This is a temporary measure, initially to be put in place for 3 months and then will be reviewed.

We expect that the first POS devices to have their technology updated to reflect this change will be supermarkets, as we continue to see increased purchases occurring in these stores.


Exceptions:

EFTPOS:

All EFTPOS transactions in the industry are exceptions and will continue to prompt for a PIN for transactions above $100.  This includes transactions using multi-network debit cards at merchants who have enrolled into Least Cost Routing or Merchant Choice Routing, where transactions are routed via EFTPOS.

The Pays (Apple, Samsung and Google Pay)


Mobile transactions do not usually require a PIN due to the added authentication security on the device. However, some terminals, which are yet to be updated for the Pays will continue as today and request a PIN for transactions above $100.

Corporate announcements.

Interest rate update - May 2022

  • Featured
  • Corporate announcements
Beyond Bank Australia has carefully reviewed our rates following the recently announced changes from the RBA regarding the official cash rate.
Read article

We’re proud to be named the best bank in Australia by Forbes in their 2022 World’s Best Banks survey.

  • Featured
  • Corporate announcements
Our style of customer-owned banking means that instead of paying shareholders, our members reinvest profits back into benefits for customers through lower fees, better interest rates and time-saving innovation. Our customers remain our number one priority in everything we do.
Read article

South West Credit and Beyond Bank Australia to merge

  • Featured
  • Corporate announcements
South West Credit members have voted in favour of a merger with Beyond Bank Australia at a Special General Meeting held in Warrnambool, Victoria on Monday 21 March. Beyond Bank is one of the largest customer-owned banks in Australia and the merge will see South West Credit’s 13,000 customers link in to Beyond Bank’s extensive regional and metropolitan national network.
Read article
Back to top

Share this page