Product Disclosure Statement 1 Product Disclosure Statement (PDS) the Table Below Shows the Accounts We Have on Offer for a Wide Range of Needs

Product Disclosure Statement 1 Product Disclosure Statement (PDS) The table below shows the accounts we have on offer for a wide range of needs. BNK Bank’s Product Disclosure Statement (PDS) contains important information which should be Product Issuer Details considered before opening a BNK Bank deposit BNK Banking Corporation Limited trading as account. This Statement comprises of the following “BNK Bank” documents: PO BOX 7030, Cloisters Square, PO WA 6850 • This PDS for Basic Deposit Products. T: 1300 BNK BANK • Internet Banking, Mobile and Phone Banking T&Cs E: [email protected] • Visa Debit Card T&Cs ABN 63 087 651 849 AFSL No 246884 Product Descriptions www.bnk.com.au We've simplified the cost of banking without We are an Authorised Deposit-taking institution sacrificing the service. We’ve also packed our and are supervised by the Australian Prudential accounts full of benefits such as mobile, desktop Regulation Authority (APRA) and are authorised and tablet access, 24/7 control, sensible and easy to under the Banking Act 1959 (Cth) to take deposits understand charges, ongoing fraud monitoring of your from the public. transactions to reduce the risk to your hard earned savings, simple account opening and backed up local support.

Deposit Overdrawn Mortgage Formal Main Interest Interest Credit Service Eligible Special Cheque Account Tier debit Offset Overdraft Purpose calculated Credited Interest Fee applicants Conditions Books Name interest p.a Available limit

Salary credit, everyday Essential N/A N/A N/A 0% 16.95% Yes No NO FEE! Individuals None Yes spending, direct debits

Salary credit, everyday Yes, spending, $27.50 Essential N/A N/A N/A 0% 16.95% Yes Call us for Individuals None Yes direct Quarterly Flex Rates debits with overdraft

$500,000+ 2% Access to $250,000 Individuals Cash high balance - Min Balance Daily Monthly 1.5% 16.95% No No NO FEE! Companies Yes saving on $499,999 $5,000 Management Businesses demand 1% $5,000 - $249,999

Not for Manage your Profits, TeamZone local club or Sporting N/A N/A N/A 0% 16.95% No No NO FEE! None Yes Banking charity bank Clubs, account Associations, Charities

$48,000+ 2.00% Special $2,000 to Proof of Retire savings Age Daily Monthly $47,999 1.75% 16.95% No No NO FEE! aged Pension No Style rates for Pensioners Status pensioners $0 to 0.01% $1,999

An account to separately Bo$$ Credit manage your Daily Monthly 1% 16.95% No No NO FEE! ABN Holders None Yes Access Balances registered business

An overdraft account to Yes, Call for $52.50 Bo$$ Flex N/A N/A N/A 0% 16.95% No ABN Holders None Yes suit business Rates Quarterly clients.

Be rewarded for Stow Default Various committing Credit All Min $5,000, it Term Daily (Paid at Based on 16.95% No No NO FEE! No your savings Balances Customers 18+ yo Deposit Maturity) terms with us for fixed terms

Be rewarded Kids for Default Various All Count committing Credit Min $500, Daily (Paid at Based on 16.95% No No NO FEE! Customers No 2 Term your savings Balances Under 18yo Maturity) terms Under 18yo Deposit with us for fixed terms

bnk.com.au | [email protected] | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 2 Product Disclosure Statement

Interest Fixed Term Deposit is calculated as follows:

Not all our accounts pay interest. Instead of Interest Rate pretending we pay interest at 0.05% or 0.1% we Interest you receive = Deposit* 100 instead focus on keeping our costs low and not * Deposit Term (Days) No. Days in a year charging monthly account keeping fees. For those accounts that do pay interest we use easy Or to understand tiered rates of interest calculated on Interest you receive = Deposit x Interest Rates Days your daily credit balance and paid to your account 365 either monthly or annually. Example Changes to your account If your TD is a 3 month (90 days) $15,000 deposit at 3.95% pa., then the Interest you will receive is: If we introduce a new fee or charge (or increase an existing one) we will give you at least 30 days notice. 3.95 Otherwise we will update our web-site if we change Interest you receive = $15,000* 100 * 90 = $146.10 other terms and conditions like interest rates. 365 Overdrawn Accounts Interest You Receive = $146.10 Your deposit accounts must not become overdrawn. Only the Bo$$ flex and Essential flex accounts can Acceptance and Certificate of Investment be run into negative balances and then only up to You must send the funds to BNK within 5 days of your their overdraft facility limit. If accounts are application, otherwise the transaction will be canceled overdrawn past their facility limit they will incur debit and you may have to apply again. interest calculated daily on the overdrawn amount at You can send the funds using Direct Entry (we will a higher interest rate and debited monthly or when provide you with the new TD account number and the account is closed. You may also incur an you can use Internet Banking to transfer the funds) or overdraw fee and may incur debt collection agency Direct Debit (you authorise us to debit your internal or costs as applicable. external bank account). Fixed Term Deposits Stow It and Kids Count 2 Upon acceptance or renewal of our FTD, BNK will issue you with a Certificate of Investment which will Introduction detail your client ID number, deposit number, date of BNK Bank offers Fixed Term Deposits (FTDs) to both lodgment or renewal, sum invested, term of the fixed personal and business customers. Goldfields Money term deposit, maturity date and interest rate. accepts the lodgment of money for a Fixed Term If BNK does not receive your FTD maturity instructions Deposit of a fixed amount for a fixed term at a fixed before maturity, the FTD will automatically be rate of interest. The minimum Fixed Term Deposit is re- invested, including any interest payable to you, for $5,000 and the minimum term is one month. a similar term at the prevailing interest rate. You have However, BNK Bank does accept Term Deposits in the 3 days following the maturity date to enter maturity name of a child under the age of 18 years (Kids Count instructions without such alteration being considered 2 Account) where the minimum balance of $500 an early redemption. must be maintained. Early Redemption of your Fixed Term Deposit Deposit Maturity Terms BNK may in its absolute discretion consider a request BNK Bank offers its customers the following Fixed from you for the full or part redemption or release of Term Deposit maturity terms: 1, 3, 6, 9, 12 your FTD before its maturity. If BNK agrees to the and 24 months. Other terms may be available on request, it shall have the right to adjust the interest application. rate payable on your FTD. This interest rate adjustment is a reduction in the Interest Rate interest rate to 1.5% per annum calculated daily for The advertised interest rate is an annual interest the length of the term already served. If the term rate, expressed as a percentage per annum. E.g., served is less than one month, there will be no 3.95% p.a. interest paid on the amount withdrawn. The minimum redemption amount is $500.

Calculating the interest on a Fixed Term Deposit Opening a BNK Deposit Account Our Interest rates are calculated on a daily basis with You can open an account at bnk.com.au. the interest paid on maturity to your nominated BNK deposit account. The Interest you receive from your BNK

Joint BNK Bank Deposit Accounts Cancellation of Direct Debit or Periodical Payments If your BNK Bank Deposit Account is held in the name BNK Bank reserves the right to cancel any direct debit of two or more persons, all the funds in that account arrangement under advice to its customer should the will be held in joint tenancy. If one of you dies, any arrangement result in unsatisfactory conduct of an balance in these accounts shall accrue in accordance account in the opinion of BNK Bank. with the law of survivorship in Western Australia. EFTPOS – Electronic Funds Transfer at Point of Sale If this Product Disclosure Statement is given to any You can use your Visa Debit card at any retailer of the joint account holders then it will be deemed throughout Australia that displays the EFTPOS logo. that it has been received by all account holders. All Your purchase will be automatically debited from your account holders are jointly and severally responsible account for the amount of the purchase. for any indebtedness in respect to any account held Visa in joint tenancy. BNK Bank can send notices, statements or any other A Visa Debit card allows you to pay for your purchases documents by mailing them or emailing them to using your own money through the worldwide Visa any one of the joint account holders at the current network. address (or email address) recorded for the account. Automatic Teller Machines (ATMs) In this event, it is deemed that all of the account holders shall have received the notice, statement You can use your Visa Debit card at most Automatic or other documents the next business day after it Teller Machines (ATMs) in Australia to withdraw is sent. cash, transfer money within your account and, in some instances (a PIN is required), perform balance Statement of Account enquiries. BNK Bank will send a statement of account to you at However, using a RediATM will ensure that you are not least every six months, unless the account has a zero directly charged for your transactions. Direct charges balance and there were no transactions during the may be made for using other ATMs by owners of the statement period. ATMs. Additional statements can be obtained upon request Bpay at no charge. BNK Bank also provides the option BPAY is available via Internet banking, mobile banking to receive an e-statement via its Internet Banking and through telephone banking. The same phone service. number is used for BPAY and telephone banking. Bank Cheques With the BPAY facility, you can pay a variety of bills using cleared funds from your BNK Bank Accounts. This is a bank-issued cheque which BNK Bank For instructions on operating this facility, please see arranges to be drawn on its bank account, rather than the Frequently Asked Questions section. on a customer account. A Bank Cheque is paid for by the drawing of funds from your BNK Bank account. Internet banking Payment Facilities BNK Bank’s Internet banking service allows you to obtain up-to-date information about your account • Defaulting features: as well as transfer funds between BNK Bank accounts. • Visa Debit Card Internet Banking also allows you to make transfers • Internet banking to other financial institutions by Electronic Funds • Mobile banking Transfer (EFT). You can also make bill payments • Phone banking using BPAY. • Bpay • Periodic payments Phone Banking • Direct debits BNK Bank’s telephone banking service, allows you to Features on request: access your accounts by telephone. You can transfer funds between your accounts and keep a regular • Apple Pay check on all your transactions. • Google Pay • Cheque books (not available on all accounts) Branch Access Direct Debits and Periodical Payments Customers can access their accounts over the counter at a BNK Bank branch in Kalgoorlie or These can be arranged by logging onto your Internet Esperance. Banking or by contacting BNK Bank. You can cancel a direct debit or Periodical Payment Overseas Transfers via Internet Banking or by request in writing to BNK BNK Bank has facilities in place to allow overseas Bank at least 3 days prior to the next payment. money transfers. Please speak to our customer service staff or call us on 1300 464 465. bnk.com.au | [email protected] | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 4 Product Disclosure Statement

Retail Business Global Settings Global Settings Global Daily Limit $10,000 Global Daily Limit $20,000 Transactions restricted by Global Daily Limit: Transactions restricted by Global Daily Limit: Internet Transfers: Own Accounts x Internet Transfers: Own Accounts x External Transfers  External Transfers  BPAY x BPAY x Batch x

Transaction Daily Max before Transacting Daily Max before Settings Limit Authentication Settings Limit Authentication

Internet Transfers to Internet Transfers to No Limit No Limit No Limit No Limit Own Accounts Own Accounts External Transfers $10,000 $5,000 External Transfers $20,000 $10,000 BPAY $10,000 $5,000 BPAY $50,000 $10,000 Batch $20,000 $10,000

Cheques How long does it take to clear a cheque? Qualification for a cheque facility is subject to When you deposit a cheque to your account, it will conditions available from BNK Bank. You will need usually take 3 business days to clear, but may take to be 18 years of age or over to qualify for a cheque longer in some cases. facility. BNK Bank will automatically issue a new You will not be able to withdraw any of the proceeds cheque book once you have used the majority of of a cheque until the cheque is cleared. cheques in your cheque book. However, there are some exceptions to allow You should advise BNK Bank if you do not require any you immediate access to the proceeds of the more cheque books to be sent to you. The cheques cheque. Please check with BNK Bank as to these on your account remain the property of BNK Bank. circumstances. If BNK Bank asks you to return the cheque books, you Dishonouring a cheque must do so. BNK Bank can ask you at its discretion to stop writing further cheques. BNK Bank can dishonour your cheque or not pay on it BNK Bank can dishonour any cheques that you if: continue to write after it has requested you to stop. • You have insufficient funds or available credit in BNK Bank accepts no responsibility if another person your account to cover the cheque; refuses to accept a cheque drawn on your account. • You have not drawn up the cheque clearly so BNK Bank is unsure of what you want it to do; Conduct • You have post-dated your cheque and it is presented for payment before the date on the When BNK Bank accepts this application, you, the cheque; Customer, acknowledge that you have appointed both • The cheque is ‘stale’, that is, the date on the BNK Bank and CUSCAL Limited as your agent and that cheque is more than 15 months ago; or you have authorised each of them to: • BNK Bank has notice of your death or mental • conduct accounts (‘the Bank Account’) with a incapacity. Bank (‘the Bank’) to enable you to draw cheques for payment of goods and services out of the funds in your BNK Bank Account in accordance with this Product Disclosure Statement; and • Transfer funds to the Bank Account from your BNK Bank Account to pay the amount of cheques that you or your Authorised Signatories have signed and to pay the value of all costs taxes or charges made by BNK Bank or the Bank. bnk.com.au | [email protected] | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 bnk.com.au | [email protected] | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 5 Product Disclosure Statement

Meaning of the “Available Balance” issued, it is linked to Term and Conditions pertaining to the particular product. The “Available Balance” includes any funds lodged in your BNK Bank account, any unused overdraft or other Please read these documents carefully as they agreed credit facility made available for your BNK contain important information about limiting the risks Bank account. associated with the particular product. The Available Balance does not include: The other significant risk of deposit accounts is • deposits received but uncleared in accordance that BNK Bank as your Authorised Deposit taking with the policy of BNK Bank; Institution becomes insolvent and you lose or all or • interest accrued but not credited; or some of your deposit holding. This risk is reduced • deposits in transit. to the extent that BNK Bank deposits are covered by the Australian Government Deposit Guarantee called Stop payments on a cheque the Financial Claims Scheme whereby deposits up to You acknowledge and agree that BNK Bank is only $250,000 per account holder are protected. To find required to instruct the Bank to stop payment on any out more visit: cheque when your BNK Bank standard stop payment www.goldfieldsmoney.com.au/resources notice has been correctly completed, signed and delivered to BNK Bank. Commissions BNK Bank may earn or pay a commission on some of Overdrawn accounts the products and services offered. Other commission If BNK Bank pays a correctly authorised and presented arrangements may apply to other products. Details of cheque that exceeds your Available Balance then you commissions are stated in BNK Bank Financial Services will incur a debt to BNK Bank reflecting the amount by Guide (FSG). See www.goldfieldsmoney.com.au/ which the cheque exceeds the Available Balance. resources and download the guide. This debt is repayable by you immediately upon the ePayments Code written demand of BNK Bank. If you fail to repay the debt then you will be required to pay all costs and The ePayments Code sets out rules about how expenses incurred by BNK Bank in collection of that electronic transactions should work. The ePayments debt. Code is designed to cover any type of electronic You may also have to pay an honour fee. transaction that is initiated using electronic equipment and does not involve a manual signature Account Transaction limits for authorisation. Examples of electronic transactions You are restricted in the amount of funds you can covered under the ePayments Code are: transfer or withdraw from your BNK Bank account in • ATM withdrawals any one day: • EFTPOS and Visa transactions including Visa • ATMs and via EFTPOS: A daily withdrawal limit paywave of $1,000 applies to the combined total of all • Internet banking withdrawals made using ATMs and via EFTPOS. • Phone Banking • Internet Banking: A daily withdrawal limit of • BPay payments $10,000 for retail accounts and $20,000 for BNK Bank will comply with the ePayments Code business accounts, applies to Internet banking wherever that code applies. More information about transfers and bill payments. In many cases, this the ePayments Code is available at the ASIC website. limit can be increased. Please contact BNK Bank to discuss this option. Dispute Resolution Process Risks BNK Bank strives to ensure that customers receive the best possible service. When you own and use a financial product, there is BNK Bank has a formal complaint procedure in place always a risk that someone could access it without to assist customers. Staff have been trained to assist your knowledge or authority. However, if you take customers with the complaints procedures and are precautions, you can minimise your exposure to such available to assist customers making a complaint, if risks. required. Complaints can be made in person, over the For further information on reducing the risk of phone, via letter or email. unauthorised transactions on your account, please Should a resolution not be reached, you will be asked make use of the Australian Securities & Investment to complete and submit a formal Complaint Referral Commission’s (ASIC) website (www.moneysmart.gov. Form. Branch staff can assist you with completing this au). form. Or, if you prefer, you can write a letter directly We recommend you check your statements regularly to the Complaints Officer at the address following. and notify us immediately if you notice any unusual or invalid transactions. When the Visa Debit card is

bnk.com.au | [email protected] | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 6 Product Disclosure Statement

Please also include any supporting documentation with maintain their at-call account activity by depositing or your letter to help clarify your point of view. You can withdrawing funds. also call the Complaints Officer on: 1300 265 226 to The account becomes dormant if there has been no lodge a complaint. Once the Complaints Officer has transaction on the account for 7 years. BNK Bank received the complaint, the issue will be forwarded to will contact the customer before the account is the relevant manager who will contact you within 2 transferred to dormant status. working days to advise of the outcome or progress. If the account has been classified as dormant, BNK If the complaint has been resolved, the Complaints Bank may debit the account with a fee. Officer will contact you in writing. If the issue Dormant accounts with a balance of $500 or more requires further investigation, the Complaints will be forwarded to ASIC as unclaimed money, as Officer will telephone and advise you of this. specified by the Banking Act. Every effort will be made to resolve your query immediately. However, the Complaints Officer will Deceased Estates inform you of the estimated time it will take to If you become aware that a BNK Bank customer and investigate. account holder has passed away, please contact BNK Once BNK Bank has reached a decision, you will Bank at your earliest convenience. be advised of the outcome of the investigation and If you are responsible for a deceased estate (i.e. an the reasons for that outcome with reference to this executor or administrator appointed by the court), Product Disclosure Statement and the ePayments please contact BNK Bank at our head office as you code. will have specific responsibilities. If you are not happy with BNK Bank’s formal response They may concern mortgage, loans, overdrafts, you can contact your our external dispute resolution savings, and investments and so on. BNK Bank would scheme. appreciate your call at your earliest convenience to BNK Bank’s external dispute resolution (EDR) is discuss issues concerning the deceased estate. a free service established to provide you with an independent mechanism to resolve specific Taxation Matters complaints. BNK Bank’s EDR provider is the Australian Tax File Number Legislation Financial Complaints Authority and can be contacted on 1800 931 678, by email at [email protected] or in In 1991, the Australian Taxation Office (ATO) introduced writing to: guidelines that state all financial institutions are Australian Financial Complaints Authority, GPO Box 3, required to withhold approximately half the interest Melbourne VIC 3001. from every account which pays interest, dividends or Complaint remedies may be financial ro non-financial. distributions, unless the customer has supplied their Where a customer has suffered financial loss, and the tax file number or exemption. complaint has been found in their favour, appropriate It is important to note that this requirement applies compensation will be made. to everybody, even if you do not normally pay tax. Where there has been no financial oss,l then It is not, however, an offence if you choose not to give appropriate remedies are to be offered to the your tax file number or exemption. If you have not customer. BNK Bank is committed to providing the provided this information, tax may be taken out of best possible service to its customers. your interest at the maximum tax rate which can be The address to post to complaints is: claimed as a credit on your next tax return. The Complaints Officer BNK Bank Once BNK Bank has received your tax file number, it is PO BOX 7030, Cloisters Square, Perth WA 6850. stored in complete confidence. Its use and disclosure are strictly regulated by the tax laws and the Privacy Cooling Off Period Act 1988 (Cth). BNK Bank provides no cooling off period in relation to There are certain people and groups that are exempt its basic deposit products. from providing tax file numbers but they must advise It is BNK Bank’s policy, however, that customers may details of the exemption. close their accounts at any time they wish, subject Some groups that are exempt are: only to payment of outstanding fees and charges and • Most pensioners; clearance of cheque deposits. • Most children under sixteen; • Most groups, clubs and organisations that are not Dormant Account required to lodge a tax return. Often customers change address or forget that they Where you hold a joint account, both parties are have accounts. In some cases, they may even forget to required to advise their tax file numbers.

Taxable Income Using Phone Banking Any interest earned may need to be included in your Simply follow the easy steps below taxable income. Please seek advice from a qualified 1. Dial 08 8265 2000 accountant or financial adviser. 2. Enter your account number 3. Follow the prompts. Frequently Asked Questions (FAQ’s) How can I leave an important message after hours? What is a BSB? What is the BNK Bank’s BSB? Please email us via [email protected] or fill out the Each Australia bank has its own identification number contact form on our website. called a Bank State Branch (BSB) number. A BSB How do I send money from an overseas bank to a BNK number contains 6 digits. Bank account? BNK Bank’s BSB Number is: 806-043 Give the sender the following details: What is BNK Bank’s Web Page and Email Address? Swift Code: CUSCAU2SXXX BSB: 806-043 BNK Bank’s web page: Account Number: (Your account number) www.bnk.com.au Bank: BNK Bank Beneficiary name: (Your name) BNK Bank’s email address: [email protected] How do I make use Phone Banking? You can make a BPAY payment using either one of BNK Bank’s services: Phone Banking option or BNK Bank’s Internet banking option.