MyState Bank recommends you read our Product Disclosure Documentation below before acquiring the product. Loan applications are subject to MyState Bank credit approval criteria and may also require approval of a Lenders Mortgage Insurer. Terms and conditions, fees and charges apply. Fees and charges are subject to change.

Financial Services Guide

Credit Guides

Complaints Policy

Privacy

Payment Service Availability

Target Market Determinations

A Target Market Determination is a document created by MyState Bank which describes:

  • the class of customers within the target market for the product;​
  • any conditions or restrictions on how the product can be distributed to customers;​
  • events or circumstances that will require MyState Bank to review the Target Market Determination for a financial product; and​
  • (for some products) the information that third party distributors must provide MyState Bank.

We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. This is to make sure we’re keeping customers at the centre of our approach to the design and distribution of our financial products.

Entities or persons engaging in Retail Product Distribution Conduct under the Product Design and Distribution Obligation laws must report information outlined in Target Market Determinations within a specified timeframe to Product Issuers. If you are looking to report information to MyState Bank, please email your information to DDOReporting@mystate.com.au

Deposit Accounts (Savings, Transactions & Term Deposits)

Terms & Conditions, Fees, Interest Rates

Target Market Determinations

Information for No Longer Offered Products

Home Loans

Guides, Terms & Conditions, Fees, Interest Rates, Fact Sheets

 

Product Disclosures

Information for No Longer Offered Products

 

Target Market Determinations

Insurance

Product Disclosures, Policies, Fact Sheets

Information for No Longer Offered Products


Target Market Determinations

Target Market Determinations for Insurance products provided by CGU can be found on the CGU website - cgu.com.au/about-cgu/partner-tmd

Business Products

Interest Rates

Target Market Determinations

Visa Debit Card

Terms & Conditions, Fees, Interest Rates

Personal Loans

Information for No Longer Offered Products

Current Promotions

Delayed Delivery of Consumer Data Sharing for Joint Account Holders, Nominated Representatives and Secondary Users

What is the gap?
As an active Data Holder under the Competition and Consumer (Consumer Data Right) Rules 2020 (the CDR Rules), Mystate is yet to implement functionality to meet requirements in relation to Joint Accounts, which commenced on 1 October 2022, and Nominated Representatives for non-individual consumers (i.e. businesses or partnerships) or Secondary Users which commenced on 1 November 2022.
How does the gap impact MyState’s customers?
While MyState currently provides functionality for data sharing by customers who are eligible as individual consumers under the CDR Rules, we do not currently have the ability to enable data sharing by Joint Account Holders, Nominated Representatives for non-individual consumers (i.e. businesses or partnerships) or Secondary Users. This implementation gap prevents customers under these categories from sharing their eligible data held by MyState with Accredited Data Recipients.
When is the expected resolution date?

30 April 2024

For further information please see the The ACCC rectification schedule here

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