Business customers' terms and conditions
Products currently for sale
Select below to find the current T&Cs and recent changes.
Business products: Freedom Business Account, Business Cheque Account – Plus Business Access Saver. Land Agent’s, Broker’s and Valuer’s Trust Account, Solicitor’s Trust Account, Society Cheque Account
Summary of changes, effective 14 February 2025
| Section reference | Change description |
|---|---|
| All about Accounts. Section 3. Using your accounts. Bank@Post. | Increase daily limit to $8,000 for cash deposits via Bank@Post participating Post Offices. |
Summary of changes, effective 24 February 2025
| Section reference | Change description |
|---|---|
| Summary of Features | Extending the Concession account eligibility criteria to include customers who receive low income or have no income. |
| Your Guide to Opening accounts | Extending the Concession account eligibility criteria to customers that tell us they receive a low income or have no income. |
Summary of changes, effective 28 February 2025
| Section reference | Change description |
|---|---|
| Section 16. General Matters - The Banking Code of Practice | Removing reference to asking for a hard copy of the Banking Code of Practice within a branch or over the phone. |
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
| Section 14 – Mistaken internet payments. | Describes the Verify with Confirmation of Payee service and the link to more information online. |
Summary of changes, effective 19 May 2025
| Section reference | Change description |
|---|---|
Table 1 – Transaction, Savings and Investment accounts Table 2 – Business accounts |
Removed cheque access from the following accounts opened from 19 May 2025: Complete Freedom, Retirement Access Plus, Freedom Business Account, Business Cheque Account Plus, Business Cheque Account and Society Cheque Account (business). |
| Section 3 – Using your accounts (Cheques, Passbooks) | Removed ‘what you can do with cheques’. Excluded references to cheque book facilities on passbook accounts. |
| Section 8 – Using cheques (Things you should know about writing cheques; Types of cheques) | Removed ‘things you should know about writing cheques’ and ‘personal cheques’ from the table. |
Business Visa Debit Card
Summary of changes, effective 28 February 2025
| Section reference | Change description |
|---|---|
| Section 14. - Banking Code of Practice. Clause 14.3 | Removing reference to asking for a hard copy of the Banking Code of Practice within a branch or over the phone. |
Term Deposits
Summary of changes, effective 28 February 2025
| Section reference | Change description |
|---|---|
| Section 2. General Matters - 1.1 Industry codes | Removing reference to asking for a hard copy of the Banking Code of Practice within a branch or over the phone. |
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
| Part B – Payments made in error. | Describes the Verify with Confirmation of Payee service and the link to more information online. |
Summary of changes, effective 19 May 2025
| Section reference | Change description |
|---|---|
| Section 3 – Interest (section 3.10) | Removed reference to paying by cheque. |
| Section 12 - Who can close an Account (section 12.4) | Removed example of providing a bank cheque at account closure. |
| Part B – General information about our banking services (Joint Accounts) | Removed example describing the cheque signature arrangement. |
Farm Management Deposits
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
| Section 21 – Payments made in error. | Describes the Verify with Confirmation of Payee service and the link to more information online. |
Products no longer for sale
Select below to find the current T&Cs and recent changes.
Commercial Line of Credit, Business Maximiser, Business Umbrella Investment Loan Account
Summary of changes, effective 28 February 2025
| Section reference | Change description |
|---|---|
| Section – Part C: – Other important things to understand. General matters. 36.1 - Industry Codes. | Removing reference to asking for a hard copy of the Banking Code of Practice within a branch or over the phone. |
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
| Part A – Using your account, Section 4 – Adjustment of debits and credits to your account | Describes the Verify with Confirmation of Payee service and the link to more information online. |
Summary of changes, effective 19 May 2025
| Section reference | Change description |
|---|---|
| Section 6 – Passbooks | Excluded references to cheque book facilities on passbook accounts. |