Business customers' terms and conditions
Products currently for sale
Select below to find the current T&Cs and recent changes.
Freedom Business Account, Business Cheque Account Plus, Business Access Saver, Business Cheque Account, Call Deposit Account, Statutory trust accounts, Society Cheque Account
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
Section 30 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 |
|---|---|
Business accounts: Features table, Corporate accounts: Features table Specialist industry accounts – Society Cheque Account: |
Removed cheque access from the following accounts opened from 19 May 2025: Freedom Business Account, Business Cheque Account Plus, Business Cheque Account and Society Cheque Account (Business). |
| Section 11 – Writing Cheques | Removed references to cheque books including issuing. |
Visa Debit Card, Freedom Card, Maestro® / Cirrus® ATM Card
Term Deposits
Summary of changes, effective 28th 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 Umbrella Investment Loan Account, Business Maximiser Account, Personal Cheque Account, Statement Savings Account, Executive Housing Interest Saver Account, Business Cheque Account (non-interest), Cash Management Account
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
Section 30 - 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 |
|---|---|
Section 10 - Writing Cheques |
Removed references to cheque books including issuing. |
Term Deposit (no longer for sale)
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
Section 29 – Payments made in error. |
Describes the Verify with Confirmation of Payee service and the link to more information online. |
Visa Cheque Account
Summary of changes, effective 30 April 2025
| Section reference | Change description |
|---|---|
Section H 57.20 - 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 |
|---|---|
Section G (41, 42, 42.1 and 42.2) – Terms and Conditions that apply to cheques |
Removed sentences that reference cheque book features, terms and issuance. |
| Section 86 - General descriptive information (Cheques) | Removed the first sentence describing what a cheque is. |