Notice to Customers – Change to Terms & Conditions Deposit Accounts, Terms & Conditions Visa Debit Card and Fees & Charges for Deposit Accounts effective 16 January 2025

Cheque Facility and Phone Banking

References to Cheque Facility and Phone Banking have been removed following their cessation. Renumbering of some sections may have occurred.

Section 2. Specific Terms and Conditions – Personal Savings and Transaction Accounts; and

Section 3. Specific Terms and Conditions – Business Savings and Transaction Accounts.

PayTo eligibility has been added into the respective product tables.

Section 4. Specific Terms and Conditions – Term Deposit Product table.

Replaced:

Interest may be compounded

with

Interest will compound on maturity unless you tell us otherwise

Added to the table:

Principal may be credited to a MyState Bank savings or transaction account or paid to another institution on redemption and indicated the products this refers to.

Clause 4.3

Replaced:

The interest paid will be calculated at the lowest MyState Bank at call savings or transaction account interest rate prevailing at the time of redemption. In the event of early withdrawal due to death of the customer, interest is paid at the full interest rate. Early withdrawal termination values may be obtained by contacting us. With Income Term Deposit Accounts, in the event of insufficient interest being accrued at the time of redemption interest penalty, the deposit sum invested may be reduced by this figure at redemption.

with

No interest will be paid on the proportion of funds that are withdrawn prior to maturity. For Income Term Deposit Accounts, this may result in any interest already paid to you being deducted from the balance of your term deposit on redemption.

If a partial withdrawal is made prior to maturity the remaining funds will continue with the same terms and conditions until maturity. A minimum balance of $5,000 must be maintained after early withdrawal otherwise the term deposit will be redeemed in full.

In the event of early withdrawal due to death of the customer, interest is paid at the full interest rate.

Early withdrawal termination values may be obtained by contacting us.

Section 1. Changes to fees and charges, interest rates and terms and conditions

Replaced:

We will tell you by either:

• writing to you; or advertising in a national or local newspaper; or giving you notice in another manner allowed by law

with

We will tell you about these changes by one or more of the following methods:

• by advertising in the national or local media;
• by giving you written notice (this includes printed or electronic communications such as app notifications, emails, publishing the notice on our website or another platform and directing you to the notice);
• by a prominent notice on our website;
• by notifying you in any other way that is permitted by law.

Section 2. Correspondence and statements

Replaced:

We will provide account statements, correspondence and documents regarding your account to you. We can send statements, correspondence and documents:

• to an address you have advised us of;
• to an address that we believe is your current postal or residential address;
• to your nominated email address, electronic device; or
• by making information available to you on our website

with

We will provide account statements, correspondence and documents regarding your account to you by one or more of the following methods:

• to an address you have advised us of; or
• to an address that we believe is your current postal or residential address; or
• to your nominated email address, electronic device, by telephone or video conference; or
• by making information available to you on our website or other electronic forum including Online Banking; or
• as otherwise as agreed with you.

Section 5. Using your account

Single or either to sign

Added:

If you have a joint account, we will tell you how you can use that account.

How you can stop withdrawals

If you have a joint account, from which either you or another account holder can make withdrawals, you can ask us to change the account authority so that all account holders have to approve any future withdrawals. This may be relevant to you if you are vulnerable.

The above paragraph does not apply to directors of a company who are signatories on behalf of the company, rather than joint account holders in their personal capacity.

Section 9. Inactive account

Replaced:

A deposit account is considered inactive after 12 months without a transaction. To reactivate an account you simply need to transact on the account. If a deposit account has a positive balance and remains inactive after 7 years, we’ll transfer the balance to the Commonwealth Government’s unclaimed moneys fund. This excludes Term Deposits and account holders aged under 18 years old. You will then need to apply to have this money returned to you by applying to the Australian Securities and Investments Commission (ASIC). Visit moneysmart.gov.au for more information. However, if your deposit account has a negative or zero balance we reserve the right to close your account.

With

If there are no deposits or withdrawals from your Account for 12 months or more your Account will be considered Inactive and we may close your account.

When closing your Account we may do the following if your account balance is;

• Overdrawn, we may close your Account without prior notice to you, but will let you know when the account has been closed;

• Nil, we may close your Account without prior notice to you, but will let you know when the account has been closed;
• In credit, we will retain the funds and pay them to you on request (without interest).

If there are no deposits or withdrawals from your Account in the last 7 years and you have not contacted us to claim your money then;

• We will pay the applicable funds to the relevant government agency as unclaimed money. We can assist you in making a claim from that government agency

This section excludes term deposits. We may charge a fee for maintaining an inactive account.

Section 10. Closing your account

Removed:

If your account has a credit balance, we will return the money to you. Fees for closing an account may apply.

Section 39. Banking Code of Practice

Replaced:

The Banking Code of Practice (BCOP) is an industry code which sets standards of good banking conduct for banks, their staff and their representatives. The relevant provisions of the BCOP apply to the products and services covered by these Terms & Conditions from 1 July 2019.

with

The Australian Banking Association’s Banking Code of Practice (Banking Code) adopted by us, sets out the standards of practice and service in the Australian banking industry for individuals and small business customers, and their guarantors who are individuals. The relevant provisions of the Banking Code apply to the products and services covered by these Terms and Conditions. This means that we will comply with the Banking Code, where it applies to the banking services provided to you.

If the Code imposes an obligation on us that is in addition to obligations applying under a relevant law, then we will comply with the Code unless doing so would lead us to breach the law, or a relevant regulatory obligation or guidance.

We will do all things necessary to ensure that banking services provided by us under the Code are provided efficiently, honestly and fairly. This is the same standard of behaviour that applies to us where applicable under section 912A(1)(a) of the Corporations Act and section 47(1)(a) of the NCCP Act.

When you carry out an electronic transaction (for example, a transaction using online banking), we will comply with ASIC’s ePayments Code.

You can view a copy of the Banking Code on our website or ask for a printed copy to be provided to you over the phone or in a branch.

Section 2. Phone Banking

Removed the section and renumbered remaining sections.