Accounts

We offer a wide range of bank accounts for your personal banking needs.

Any cash withdrawals via ATM (including international ATM cash withdrawals) are subject to round2save rounding up, should the final transaction value not be a round figure. For example, if you were to withdraw money from an ATM overseas, due to the exchange rate it is likely that the transaction amount would not be a round figure, in which case the round2save amount would be transferred to your nominated savings account.

round2save works by rounding up each transaction¹ you make on your nominated transaction account² to the nearest whole dollar, and transferring the rounded up amount to your nominated savings account.

For example, if you were to use your card to purchase an item for $23.54, then 46 cents would be automatically transferred to your nominated savings account once the transaction has cleared³.

¹Only available on eligible VISA Debit card transactions, including point-of-sale and online purchases. round2save does not apply to Osko payments, BPAY or Direct Debit transactions.
²Only available on eligible transaction accounts.
³The transferred round2save amount may take up to 5 business days to appear in your savings account due to VISA pending transactions.

 To enable round to save follow these steps:

 

1. Log in in the mobile app.

2. Go to Accounts and select a transaction account that you would like to enable round2save on.

 

3. Select a savings account that you would like to deposit your round2save earnings in.

 

4. Start transacting using your VISA Debit card and watch your savings grow!

 

 

Our BSB has changed to 325 -185.

There is currently no action required from you. Your payments will continue to process as they do today. However, If you are setting up a new payment, we would like you to use the new BSB.

What you need to do

You will need to use the new BSB for new direct debit and direct credit arrangements.

  • Direct debits may include payments you make such as insurance premiums, utilities bills, gym memberships and council rates.
  • Direct credits may include payments you receive such as salary, dividends, Pay Anyone transfers, Medicare, tax or social security.

If you are setting up a new direct debit or direct credit payment you will need to provide the following details:

  • BSB number: 325-185         
  • Institution: Beyond Bank Australia
  • Your Account Number.

Many third parties will allow you to update your banking details through your online account. Alternatively, you can phone or write to them using our handy letter template so they can update the details for you.

 

Noticed an unfamiliar transaction on your account transaction history or statement?

Some retailers/businesses may appear with a different name to the one you know them as. For example, some local merchants can show up as the name of the parent organisation rather than the shop name, or it show up as the name the eftpos is registered to.

Use the list below to help identify some common retailer/business names and subcription providers.

Trading Name (Alphabetical Order)

Description

ACADEMICSINGLES*

A subscription service for online dating

ACM*BRINKLEYDAY.COM*

Online merchant that offers a trial subscription service for cosmetic products

APPLE ITUNES

Purchases made on the app store for an Apple device

AVG INTERNET SECURITY*

A subscription for anti-virus software (may auto-renew)

BLS*BRINKLEYNIGHT.COM*

Online merchant that offers a trial subscription service for cosmetic products

EHARMONY.COM.AU*

A subscription service for online dating

ESERVICEPS.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

GETHELPSXPF.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

GOOGLE *Play g.co/helppay

A purchase made through the Google Play store

HELPDESKSC.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

INFODESKCS.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

JUST ANSWER*

Online subscription service for expert advice

MCAFEE*

A subscription for anti-virus software (may auto-renew)

NORTON*

A subscription for anti-virus software (may auto-renew)

ONLINEORDEROHC.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

PAYREF.INFO*

A subscription service for online dating

PAYPAL

A online payment processed by paypal, the merchant may differ such as Ebay

PLAYSTATIONNETWORK

An online gaming purchase for a Playstation device

pof.com*

A subscription service for online dating

RGPCUSTOMER.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

SPOTIFY*

A subscription for online music streaming

SUPPORTPSERV.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

VENNTRO MEDIA GROUP*

A subscription service for online dating

VIAGOGO

An online ticket re-sale website

*Note: this merchant offers a trial subscription service, they may be automatically charging ongoing subscription fees unless cancelled following an initial trial period

If you are still uncertain, or the transaction does not reflect any of the names in the table above, please send us a secure message via internet or mobile banking with details of the transaction.

 

You may cancel a direct debit at any time by notifying us on 13 25 85 or visiting one of our branches. We would encourage you to notify the debiting institution of your request to cancel the direct debit.

The cancellation of direct debit received on the same day a direct debit is scheduled will not take effect until the next business day.

Once notified of the cancellation, we can stop any further payments from being made.

When you make a purchase using your Visa the merchant will send an authorisation request to process the transaction. This authorisation request places a hold on the funds to ensure there will be sufficient money in your account to complete the transaction.

The funds will be on hold for up to five business days, during which time the transaction will be finalised. Once complete the funds will be debited from your account balance and the merchant information will be displayed in your transaction history.

Noticed an unfamiliar transaction on your account transaction history or statement? Before contacting us to lodge a dispute, consider the following possibilities:

  • Was the purchase was made by an additional cardholder?
  • Did you make the purchase on behalf of a spouse, child or family member/friend?
  • Have you made any international purchases and the transaction amount has converted to AUD?
  • Check if the purchase relates to any membership, subscription fees or direct debit payments.
  • The merchant may trade under a different name (an online search can often help identify the true trading name). Some more commonly used retailer/business names and subscription providers are detailed below.

Trading Name (Alphabetical Order)

Description

ACADEMICSINGLES*

A subscription service for online dating

ACM*BRINKLEYDAY.COM*

Online merchant that offers a trial subscription service for cosmetic products

APPLE ITUNES

Purchases made on the app store for an Apple device

AVG INTERNET SECURITY*

A subscription for anti-virus software (may auto-renew)

BLS*BRINKLEYNIGHT.COM*

Online merchant that offers a trial subscription service for cosmetic products

EHARMONY.COM.AU*

A subscription service for online dating

ESERVICEPS.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

GETHELPSXPF.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

GOOGLE *Play g.co/helppay

A purchase made through the Google Play store

HELPDESKSC.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

INFODESKCS.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

JUST ANSWER*

Online subscription service for expert advice

MCAFEE*

A subscription for anti-virus software (may auto-renew)

NORTON*

A subscription for anti-virus software (may auto-renew)

ONLINEORDEROHC.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

PAYREF.INFO*

A subscription service for online dating

PAYPAL

A online payment processed by PayPal, the merchant may differ such as eBay

PLAYSTATIONNETWORK

An online gaming purchase for a PlayStation device

pof.com*

A subscription service for online dating

RGPCUSTOMER.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

SPOTIFY*

A subscription for online music streaming

SUPPORTPSERV.COM*

Online merchant that offers a trial subscription service for pharmaceutical products

VENNTRO MEDIA GROUP*

A subscription service for online dating

VIAGOGO

An online ticket re-sale website

*Note: these merchants offer trial subscription services. They may be automatically charge ongoing subscription fees unless cancelled following an initial trial period.

If you are still unsure, we can help you dispute the transaction.

A pending transaction can only be cancelled if the merchant provides us with a pre-authorisation release confirming they have no intention to debit the restricted funds. As the merchant has authorisation over the funds, we cannot release the funds without their authority.

If you believe a pending transaction is unauthorised, once the funds have debited from your account, we can help you dispute the transaction. Please send us a secure message via Internet Banking or the Mobile App with details of the transaction. Alternatively, you can call us on 13 25 85 or visit your nearest branch.

Transfers made using a PayID or from one Beyond Bank account to another will be processed instantly and the funds will be available within seconds.

For transfers made on a public holiday or weekend, using BPAY or a BSB and account number, the funds will be debited from your account immediately, processed the next business day and will be available to the biller or recipient within 1-2 business days.

Some online merchants will verify your card details by processing a separate pre-authorisation amount (the dollar values can vary), prior to processing the purchase transaction. Usually after the transaction is complete the separate pending transaction and funds will be released within five business days.

If the merchant has processed a separate pre-authorisation amount and you would like the funds to be released before the five business days, particularly if the pending amount is of higher value, the merchant can provide us with a pre-authorisation release confirming they have no intention to debit the restricted funds.

Between Beyond Bank accounts

Transfers between your own accounts and to most other Beyond Bank accounts are instant.

To other financial institutions

Transfers to other Australian financial institutions are available within seconds*, if transferred using a PayID. For transfers made using a BSB and account number, the funds will be available in the recipient’s account within 1-2 business days.

* Faster transfers available between participating banks, a full list of participating banks is available here.

International Money Transfers (IMT)

It usually takes 2-5 business days to process an IMT, however it can take longer for the recipient to receive the funds depending on the country and bank the funds are being sent to.

Transfers:

Contact the recipient and ask them to transfer the funds back to you.

If the account details you provided are incorrect, the funds may be returned to your account automatically by the other bank in 1-4 business days. Please note, some financial institutions have unique account numbers and therefore do not check BSB/account number combinations.

If after 1-4 business days the funds have not been returned to your account, contact us via secure message, call us on 13 25 85 or visit your nearest branch and we can attempt a recovery of the funds.

This process can take several weeks as we need to wait on a response from the other financial institution. We will send you a letter providing details of the outcome once the recovery process has been completed.

BPAY:

If you have only just completed a BPAY and realised the information was incorrect, contact us straight away on 13 25 85. In some instances, we may be able to reverse the transfer for you.

If some time has passed since you completed a BPAY with incorrect information, there is a possibility that the biller may reject the payment and return the funds. This process can take around 2-4 business days. Contact the biller directly to advise them of the situation.

If after 4 business days, the money has not been returned to your account, we can help you dispute the payment. To dispute an BPAY transaction, please send us a secure message via Internet Banking or the Mobile App with details of the transaction. Alternatively, you can call us on 13 25 85 or visit your nearest branch.

 

Cash deposits can be made into your account at your nearest branch. Alternatively, online transfers to your account can be made from other financial institutions using your registered PayID for instant* access or with your BSB account/member number for access within 1-2 business days.

* Faster transfers available between participating banks, a full list of participating banks is available here.

To change the name on your account you must provide us with an original or certified copy of your change of name documentation, along with identification showing your current name.

You will need to visit your nearest branch with the documentation to request the change of name. If you do not live near one of our branches, please call us on 13 25 85 for further assistance.

You can set up regular scheduled transfers between your own accounts using Internet Banking or the Mobile App.

Internet Banking:

  • Once logged in, select Transfer/Pay then Transfer
  • Choose the accounts you wish to transfer from and to
  • Enter the transfer amount and any reference
  • Select Schedule Payments (located under the transfer amount)
  • Enter the information based on your desired transfer frequency.

          Mobile App:

  • Once logged in, select Transfer
  • Choose the accounts you wish to transfer from and to
  • Enter the transfer amount
  • Select Scheduled payment? (located under the transfer amount)
  • Enter the information based on your desired transfer frequency.

You can also set up regular scheduled transfers to accounts outside of Beyond Bank using Internet Banking or the Mobile App.

Internet Banking:

  • Once logged in, select Transfer/Pay then Make Payment
  • Select the Schedule button
  • Enter account details using New Payee or select from your list of Saved Payees
  • Once the payee information is entered, choose the amount and desired transfer frequency.

Mobile App:

  • Once logged in, select Make Payment
  • Enter account details using New Payee or select from your list of Saved Payees
  • Enter the transfer amount
  • Select Scheduled payment? (located under the transfer amount)
  • Enter the information based on your desired transfer frequency.

A member number is a unique number that identifies you from all other Beyond Bank customers. When you open a membership with Beyond Bank you will be allocated a member number and within your membership various accounts, products and services can be opened.

Fees and charges will vary from depending on the accounts you own.

For example, our Purple Transactor account has $0 monthly fee, $0 fees for card transactions in Australia and $0 dishonour fees.

However, other accounts like our Retirement account may incur fees which will be offset by your monthly fee allowance. Your monthly fee allowance is based on your relationship portfolio value and the number of years you have been a member.

For further information refer to our Fees and Charges Guide.

A transaction account is an account that you use on a day to day basis which your wage and other payments can be paid into. Your transaction account is also used to pay for bills, shopping and other everyday purchases using a linked Visa card. Transaction accounts do not earn interest on the balances.

A savings account is an account that earns and pays interest based on your overall balance, providing any terms and conditions of the account are met. Whilst your money is not locked away like a term deposit, a savings account is intended to help you reach your savings goals faster, so you would not have a Visa card linked to the account.

Existing members can open a Community Reward account through Internet Banking or the Mobile App. New members can open an account online, by visiting your nearest branch or by calling us on 13 25 85 for more information. New members will need either a Drivers Licence or an Australian Passport, or a Birth Certificate and either a Medicare Card or Student Photo ID (if full-time student) to open a new account.

A Term Deposit is a great account for customers wanting to earn a higher return on their investment and won’t need to access the funds during the investment term. The interest rate is fixed for a set period of time, ranging from three months to five years, with the choice of interest paid at maturity for terms under 12 months or interest paid monthly, annually or at maturity for terms over 12 months.

Existing members can open a Term Deposit account through Internet Banking or the Mobile App. New members can open an account by visiting your nearest branch or by calling us on 13 25 85 for more information. New members will need either a Drivers Licence or an Australian Passport, or a Birth Certificate and either a Medicare Card or Student Photo ID (if full time student) to open a new account.

The Retirement account is an interest earning and everyday transaction account rolled into one. Whether it be buying coffee or dinner with your Visa card, receiving your pension or other payments, sending money in an instant^ with PayID or paying your bills through BPAY or direct debits - this account can do it all.

To be eligible to open a Retirement Account you must receive a superannuation pension, be a self-funded retiree, an age pensioner or receive the Mature Age Allowance.

The Retirement Account has a stepped interest rate so the more you save, the more interest you earn. Fees are offset by your monthly fee allowance which is based on your relationship portfolio value and the number of years you have been a member. For further information refer to our Fees and Charges Guide.

^ Faster transfers available between participating banks, a full list of participating banks is available here.

Existing members can open a Retirement account through Internet Banking or the Mobile App. New members can open an account by visiting your nearest branch or by calling us on 13 25 85 for more information. New members will need either a Drivers Licence or an Australian Passport, or a Birth Certificate and either a Medicare Card or Student Photo ID (if full time student) to open a new account.

The Purple Transactor is an account for everyday use with $0 monthly fee. Whether it be buying coffee or dinner with your Visa card, receiving your wage or other payments, sending money in an instant^ with PayID or paying your bills through BPAY or direct debits - this account can do it all.

Tap and go payments are easy with Visa payWave, Apple Pay¹, Google Pay² or Samsung Pay³. Plus, there are $0 fees for card transactions in Australia.

 

^ Faster transfers available between participating banks, a full list of participating banks is available here.

¹ Apple® is a trademark of Apple Inc. Apple Pay is available on select Apple devices. For a list of compatible Apple Pay devices, see https://support.apple.com/km207105

² AndroidTM and Google PayTM are trademarks of Google Inc. Google Pay is available on selected Android devices.

³ Samsung Pay is a trademark of Samsung Electronics Co. Ltd. Samsung Pay is available on select Samsung devices.

Existing members can open a Purple Transactor account through Internet Banking or the Mobile App. New members can open an account by visiting your nearest branch or by calling us on 13 25 85 for more information. New members will need either a Drivers Licence or an Australian Passport, or a Birth Certificate and either a Medicare Card or Student Photo ID (if full-time student) to open a new account.

The Purple Transactor is a non-interest earning account with none of those annoying ‘everyday’ fees. There are $0 fees for card transactions in Australia, $0 monthly fees and $0 dishonour fees. Transactions are excluded from fee free are TEXT ME!*, Foreign Currency Conversion Fee and any SWIFT and Foreign Exchange Related Fees.

 

* TEXT ME! Fees are not inclusive of 2nd factor secure sms authentication messages. For more info please see the Fees and Charges Guide.

Viewing your interest details is simple and secure in mobile and internet banking.

  • Log in to Internet Banking
  • Go to Accounts, then Interest Details
  • Interest Details are displayed.

Or

  • Log in to your Mobile App
  • Go to Accounts, then locate your desired account
  • Click Available/Current, then select Info
  • Interest Details are displayed.

Australia Post is implementing a new pricing structure for Bank@Post services that significantly increases our costs of providing this service for our members. As a result, changes are being made to our fees and charges for Bank@Post deposit and withdrawals to reflect these increased costs. These changes will apply to your Transaction, Savings, Business and Credit Cards accounts.

The changes to our Fees and Charges booklet, Package terms and conditions, and other account terms and conditions, are explained below and will apply to your accounts from 1st September 2019.

You can access our updated Fees and Charges booklet on our website from 1st September 2019.

The following sections in our Fees and Charges booklet will be changed as follows:

Part A – Fees and Charges for Transaction Accounts

4.2 Transactions included in the Fee Allowance

Bank@Post transactions will no longer be included in the monthly Fee Allowance. This change will apply to the following accounts: Access Savings Account, All-In-One-Account, Mortgage Offset Account, Retirement Account, Wealth Accumulation Account.

The row in the table referring to “Bank@Post deposits or withdrawals” will be removed.

5. Everyday Account

The Everyday Account will no longer entitle you to four free Bank@ Post deposits or transfers per month.

The rows in the table referring to “Bank@Post withdrawals or transfers” and “Bank@Post deposits will be removed.

6. Purple Transactor Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The wording in the table will be changed to read as follows:

Transaction 

Fee each

All deposits, withdrawals, transfers and services (excluding Bank@Post transactions, TEXT ME! Transaction Fees, Swift Transfer Fees, Visa Debit Card and rediCARD Foreign Currency Conversion Fee and Foreign Currency Transaction Fees)

Free

7. Cash Management Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The rows in the second table referring to “Bank@Post deposits, withdrawals or transfers” and “Bank@Post withdrawals” will be removed.

8. Car Budget Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The row in the table referring to “Bank@Post deposits or withdrawals” will be removed.

The wording in the last row of the table will be changed to read as follows:

Transaction 

Fee each

Any other withdrawals or transfer from the account (excluding Bank@Post transactions, overseas ATM, cash advance and declined withdrawals)

$4.00

9. Transaction fees which apply to all Transaction Accounts


The first paragraph will read as follows:

The following transaction fees apply to all transaction accounts in Part A (excluding, except in relation to Bank@Post transactions, the Purple Transactor Account) and are not included in any monthly Fee Allowance.

After the last row of the table, the following rows will be added:

Transaction 

Fee each

Bank@Post deposits

$1.00

Bank@Post withdrawals

$3.50

 

Part B – Transaction fees for Savings Accounts

10. Junior Savings Account, BU Savings Account and Bonus Saver Youth Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The wording in the table will be changed to read as follows:

Transaction 

Fee each

All deposits, withdrawals and transfers (excluding Bank@Post, overseas ATM, cash advance and declined withdrawals)

Free

Bank@Post withdrawals

$3.50

 

Changes to other Saving Accounts

Bank@Post deposits on all other Saving Accounts will incur a fee.

This includes the following accounts:

  • monEsaver Internet Savings Account
  • Community Reward Account
  • Bonus Saver Account
  • Christmas Club Account

There will be no changes to the fee incurred for Bank@Post withdrawals. These will continue to incur the fee currently applicable to the product type.

15. Transaction fees which apply to all Savings Accounts

After the last row of the table, the following row will be added:

Transaction 

Fee each

Bank@Post deposits

$1.00

 

Part C – Transaction fees for Not-For-Profit and Community Organisations

16. Community Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The wording in the table will be changed to read as follows:

Transaction 

Fee each

All deposits, withdrawals and transfers(excluding Bank@Post, overseas ATM, cash advance and declined withdrawals)

Free

After the last row of the table, the following rows will be added:

Transaction 

Fee each

Bank@Post withdrawals

$3.50

Bank@Post deposits

$1.00

 

Part D – Transaction fees for Business Accounts

17. Business Transaction Account and Business Overdraft Accounts

Bank@Post transactions will incur the applicable Bank@Post fee.

The last row of the third table will be replaced with the following rows:

Transaction

Fee each

Bank@Post withdrawals

$3.50

Bank@Post deposits

$1.00

18. Business GST Payment Account

Bank@Post transactions will incur the applicable Bank@Post fee.

The wording in the last row of the table will be changed to read as follows:

Transaction

Fee each

All withdrawals or transfers(excluding Bank@Post, overseas ATM and declined withdrawals)

- One free per month then:

$3.00

19. Transaction fees which apply to all Business Accounts

After the row of the table, the following rows will be added:

Transaction 

Fee each

Bank@Post withdrawals

$3.50

Bank@Post deposits

$1.00

 

Part F – Loan Fees

35. Low Rate Credit Card Account Fees

The wording in the row of the table referring to the Bank@Post deposits fee will be changed to read as follows:

Transaction 

Fee each

Bank@Post deposits (Payable whenever you deposit funds at Australia Post using their Bank@Post service)

$1.00

38. Business Low Rate Credit Card

The wording in the row of the table referring to the Bank@Post Deposit Fee will be changed to read as follows:

Transaction 

Fee each

Bank@Post deposits (Payable whenever you deposit funds at Australia Post using their Bank@Post service)

$1.00

 

Changes to Package terms and conditions

The following Package terms and conditions will be updated as follows:

Changes to the Pinnacle Plus terms and conditions

Bank@Post withdrawals and deposits will no longer be included as waived transactions as part of the benefits of the Pinnacle plus package. Bank@Post transactions will incur the applicable Bank@Post fee, as follows:

Transaction

Fee each

Bank@Post withdrawal

$3.50

Bank@Post deposit

$1.00

 

Changes to the Total Home Loan Package terms and conditions

Bank@Post withdrawals and deposits will no longer be included as waived transactions as part of the benefits of the Total Home Loan package. Bank@Post transactions will incur the applicable Bank@Post fee, as follows:

Transaction

Fee each

Bank@Post withdrawal

$3.50

Bank@Post deposit

$1.00

Changes to the MYCU My Pinnacle Fee Allowance

Bank@Post withdrawals and deposits will no longer be included as waived transactions as part of the benefits of the My Pinnacle Fee Allowance. Bank@Post transactions will incur the applicable Bank@ Post fee, as follows:

Transaction

Fee each

Bank@Post withdrawal

$3.50

Bank@Post deposit

$1.00

Changes to other account terms and conditions

The following Account terms and conditions will be changed as follows:

Accounts no longer available for new business Everyday 55 Account

Bank@Post transactions will incur the applicable Bank@Post fees, as follows:

Transaction

Fee each

Bank@Post withdrawal

$3.50

Bank@Post deposit

$1.00

Money Market Account

Bank@Post transactions will incur the applicable Bank@Post fees, as follows:

Transaction

Fee each

Bank@Post withdrawal

$3.50

Bank@Post deposit

$1.00

Double Interest Saver

Bank@Post Deposits will incur the applicable Bank@Post fee, as follows:

Transaction

Fee each

Bank@Post deposit

$1.00

 

Alternative access methods to Bank@Post services:

Cash Out with Purchase.

Withdraw cash with eftpos when paying for your groceries or other purchases at the check-out. Simply select “Savings” and enter your PIN.

ATMs.

To find your nearest ATM, simply search for any fee-free* ATM in Google Maps or on our Locate Us page. If the ATM is not a fee-free* ATM, the fee that will be charged will be displayed before you confirm your transaction.

Branches.

If you’d prefer to visit us, you can withdraw cash over the counter at a Beyond Bank branch.

For more information about this change or if we can further assist you with your banking needs, please call our Customer Relationship Centre on 13 25 85 or visit your nearest branch.

Q) When does it occur?

The fee change will be effective from September 1st 2019.

Q) What are the fee changes?

Members will incur a direct fee for Bank@Post transactions and it will no longer form part of the fee allowance structure. The fees are as follows:

• Bank@Post deposits: $1.00

• Bank@Post withdrawals: $3.50

Q) Why has there been a Bank@Post fee change?

Australia Post has introduced a new fee for Bank@Post services to all its business partners. This is on top of the transaction costs we already pay to Australia Post.

Due to the significantly increased cost, we have had to change the way we charge for Bank@Post transactions to continue to provide the Bank@Post service.

Q) What costs do we incur from Australia Post for providing Bank@Post?

Beyond Bank has always incurred a cost from Australia Post for providing Bank@Post services. This expense is purely based on a per transaction basis: every time a member uses Bank@Post, Beyond Bank incur a fee for that transaction.

Now Australia Post have introduced an annual fee that we are required to pay to continue to provide Bank@Post services.

Q) Why are we passing on the cost?

The new annual fee is significant, and we are unable to absorb this cost; some other banks have even stopped offering Bank@Post due to this fee. Following a review of how our members are using Bank@Post services, we determined it was more sustainable and equitable to pass on the increased cost to those using the service, rather than passing it on to all members.

Q) What does this mean if I have a fee allowance?

Both Bank@Post withdrawals and deposits will be removed from the fee allowance structure and direct charged. This will free up your allowance for other transactions e.g. over the counter, eftpos with cash out etc.

Q) What impacts will this have to Saving Accounts?

Members should not have cards linked to Saving Account products (i.e. monEsaver). However, if a card is linked to a saving account and that account is used to deposit or withdraw funds at Bank@Post, fees will be applicable.

Q) What about Package Customers (customers with an unlimited Fee Allowance)?

Package customers who receive an unlimited fee allowance through the Relationship Fee Allowance are also impacted by this change. As Bank@Post transactions are being removed from the fee allowance structure, these fees will no longer be waived as part of the benefits of that package and they will be charged the applicable fees.

This will predominantly impact Pinnacle Plus and Total Home Loan Package customer. Previous MYCU customers, who were provided with the ‘MY Pinnacle’ Fee Allowance at point of merger also will have the fee removed from their allowance and be charged the applicable fees.

Q) What does this mean for the Purple Transactor Account?

The same fees will apply to the Purple Transactor Account. We have identified the Purple Transactor account holders who use Bank@Post and there are not many!

Q) Will there be changes to Low Rate Visa Credit card fees?

Currently Bank@Post withdrawals on the credit card are treated as a cash advance and incur the applicable fee ($4.00). This is not changing.

Bank@Post deposits on the credit card are currently charged $3.00. This is being reduced to $1.00.

Q) How about Community Accounts?

The same fees will apply to Community Account holders.

Q) Why are the fees different for deposits and withdrawals?

The cost incurred from Bank@Post for deposits and withdrawals is equivalent. However, it is understood that members using Bank@Post for deposit services may not have as many alternate options as customers who are performing Bank@Post withdrawals. As a result, we have tried to keep this fee as low as possible.

Q) What can I do to avoid these fees?

Any withdrawal at an Australia Post Office is considered a Bank@Post withdrawal and will incur the fee. Here are some other ways to complete your banking and avoid this charge:

• Cash out with purchase when doing your grocery shopping, or at any other outlet that lets them withdraw cash.

• Use ATMs from major bank (Commonwealth Bank, NAB, ANZ or Westpac) or regional banks such as Bankwest, BankSA & St George Bank without getting charged.

• Use your phone for payments – Beyond Bank provides access to Apple Pay, Google Pay and Samsung Pay.

• Deposits can be made in branch over the counter or via Gloria teller machines at selected branches. These branch deposits remain fee free.

Q) Have we communicated this change?

All members were notified in their June statement (received in early July). We have also identified members who will be highly impacted by the change and are providing additional communications to them in the coming months.

Q) Are other Financial Institutions impacted by the Australia Post changes to the cost of Bank@Post?

Yes, the increased costs being imposed by Australia Post are applicable to all Financial Institutions. ANZ and BOQ have actually withdrawn from providing Bank@Post services as a result of the increased cost.

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For the security of your accounts, Internet Banking no longer supports Internet Explorer 8 or earlier versions.

As you may know, Microsoft recently made the decision to discontinue its support of Internet Explorer 8 (IE8). This leaves users exposed to potential security risks. As a result, Beyond Bank's Internet Banking will no longer support Internet Explorer 8 or earlier versions. Going forward, Beyond Bank will support Internet Explorer 9 or later to ensure the security of your accounts.

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