Conditions of Use Accounts and Access Important information How our Conditions of Use Who we are become binding on you Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian By opening an account or using an Credit Licence 238981. access facility you become bound by these Conditions of Use. In this document, “the Bank”, “we”, “us” and “our” means Teachers Accessing copies of this document Mutual Bank Limited; and “you” Please keep this document in a safe means a person with one or more place so you can refer to it when of our products or services. needed. Alternatively, you can view Please note: You may not be eligible and download it from our website. for all products and services. The Financial Claims Scheme In the unlikely event that a bank, Customer Owned Banking credit union or building society fails, Code of Practice the Australian Government may activate We warrant that we will comply with its guarantee scheme known as the the Customer Owned Banking Code Financial Claims Scheme (FCS). This of Practice. Please see the section enables account holders to have quick About the Customer Owned Banking access to their deposits which are Code of Practice at the end of these protected under the FCS. Funds are Conditions of Use for more details. protected to a maximum of $250,000 for each account holder per institution. ePayments Code In the case of joint accounts, each account holder is entitled to a maximum We warrant that we will comply with of $250,000. the ePayments Code. Please note that, as stated, the FCS Privacy guarantee is per account holder per institution. We operate under more We have a Privacy and Credit Reporting than one brand name but have only one Policy that sets out: banking licence. The limit of $250,000 • our obligations regarding the consequently applies to the total funds confidentiality of your personal any account holder has in deposit information and products issued by us, notwithstanding that a particular product or service may • how we collect, hold, use and disclose carry any one of our brand names. your personal information. For further information about the You can access our Privacy & Credit Scheme visit fcs.gov.au. Reporting Policy on our website. Contents Opening and operating your accounts Accounts and access facilities 5 Children’s accounts 5 Proof of identity 6 Account details 6 Summary of accounts and access facilities 10 Joint accounts 12 Trust accounts 12 Third party authority to operate 12 Fees and charges 13 Interest 13 Interest earned 13 Tax File Numbers 13 Deposits and withdrawals 13 Debiting transactions 15 Counter withdrawals 15 Overdrawing an account 15 Sweep service 15 Cheque facility 15 Stopping a cheque 15 Overseas cheques 16 Bank cheques 16 Electronic credits 16 Direct debits 16 Other information Transaction limits 17 Statements of Account 17 How we give you notices and other communications and documents 18 Changing fees, charges, interest rates and these Conditions of Use 18 Change of name or address 18 Dormant accounts 18 Account combination 20 Blocking transactions and access to your account 20 Closing an account and cancelling access facilities 20 Complaints 20 Electronic Access Facilities and ePayments Conditions of Use Section 1 22 Section 13 40 Information about our ePayment facilities Using the access card Section 2 24 Section 14 40 Definitions Using your Visa outside Australia Section 3 25 Section 15 41 Accounts and transactions Additional access card Section 4 26 Section 16 42 When you are not liable for loss Use after cancellation or expiry of access card Section 5 26 When you are liable for loss Section 17 42 Exclusions of access card warranties Section 6 29 and representations Pass code security requirements Section 18 42 Section 7 30 Cancellation of access card or access Liability for loss caused by system to home banking service or BPAY or equipment malfunction Section 19 43 Section 8 30 Using BPAY Payments facility (“BPAY”) Network arrangements Section 20 44 Section 9 31 Processing BPAY payments Mistaken internet payments Section 21 45 Section 10 34 Future-dated BPAY payments Using electronic banking Section 22 46 Section 11 39 Consequential damage for BPAY How to report loss, theft or unauthorised payments use of your access card or pass code Section 23 46 ® Section 12 40 BPAY View special terms and conditions How to report unauthorised use Section 24 49 of electronic banking Regular payment arrangements 4 ® Registered to BPAY Pty Ltd ABN 69 079 137 518 Electronic Access Facilities and ePayments Conditions of Use Opening and operating your accounts Accounts and access facilities • Where an account is opened for a These Conditions of Use Accounts child, the child is the account owner and Access govern the use of the and legal and beneficial owner of the following range of accounts, which funds in the account, irrespective of includes transaction accounts, savings whether they are a signatory to the accounts, term deposits and these account; access facilities: • we do not open trust accounts with a child as beneficiary; • Visa card • we may set rules for the operation • Cheque facility of childrens’ accounts. • BPAY ® Opening children’s accounts • Electronic banking (for example, Details of accounts available for internet banking, mobile banking children are set out on our website. app, telephone banking) • EFTPOS and ATM access Account operating • Direct debit We may set an age under which a child who is an account owner cannot • Periodical payment act as a signatory on their account. We may refuse to provide any banking Where a child account owner is under product or service at our discretion. this age, the only signatory permitted Please refer to the table on pages is an adult relative. 10 & 11 for account types, conditions Where a child who is an account owner and access facilities. attains an age at which we determine the child may act as a signatory: Children’s accounts • the child may be added as a Special conditions relating signatory to their account; and to children’s accounts • the existing adult relative signatory Notwithstanding any other on the child’s account may remain provisions in these Conditions of Use, as such until the child attains the age the following conditions apply to of eighteen years, unless, prior to the children’s accounts: child’s eighteenth birthday, the adult • “child” or “children” means an relative is removed as a signatory. individual or individuals under the age of eighteen years; ® Registered to BPAY Pty Ltd ABN 69 079 137 518 5 Transitioning Account details From the time of opening their account Refer to the details below and the table until their eighteenth birthday, on pages 10 & 11 for the account types we may transition children through available and their access options. different account types, access facilities (including cards) and modes Introductory, bonus and of account operation. Refer to tmbank. promotional interest com.au for details. From time to time we may offer a higher Where a child who is an account owner rate or additional interest to certain attains the age of eighteen years: account holders of these accounts with respect to certain funds held within • the child (then adult) member these accounts, which will be subject becomes the sole signatory to specified criteria and for limited or on the account; specific periods of time. Where we offer • any adult relative who is a signatory higher or additional interest, it may ceases to be such and no longer be calculated and paid in a different has any operating or access rights manner to the standard interest paid on the account. on these accounts. If you make withdrawals from these Closing accounts accounts during a specified period A child’s account may be closed or you close your account before the either by: end of a specified promotional or • the child, provided they are a introductory period, you may lose signatory on their account; or your eligibility for the higher rate or additional interest. • an adult relative, where they are a signatory on the account; or Details of any offer, including eligibility • both the above. and how interest will be calculated and paid, will be publicised in promotional material and on our website during the Proof of identity relevant period. Under the Anti-Money Laundering and Counter-Terrorism Financing Act, 2006 Transaction accounts we are required to verify your identity when you open an account, when Everyday Direct account you become a signatory to an account This is a daily electronic transaction or if you are a Beneficial Owner account with a range of access (as defined). methods including Visa Debit card, cheque book, electronic banking and 6 deposit book. A staff assist fee will It is important to note that, in order apply to a staff assisted electronic to meet taxation law requirements, fund transfer or a periodical payment no interest can be paid on the credit transaction that takes place at our balance of any deposit account branches, member events and over linked to a home loan account under the phone. a mortgage offset facility. If the mortgage offset facility is cancelled for A Visa Debit card will not be issued any reason, however, interest may then where the account is two to sign, or be payable on your previously linked the account is opened as Guardianship transaction account in accordance with or with Power of Attorney. the terms and conditions applying to Not available on business accounts. that account. Bill Paying account Only one transaction account may be linked with any one home loan This account is suitable for paying account. The owner of the transaction and saving for regular bills.