Changes to our Account & Access Facility Conditions of Use document - ePayments Code

We have recently updated our Account & Access Facility Conditions of Use as result of changes to the ePayments Code.

Generally the updated Code gives more protections for members and provides clarity around mistaken internet payments and unauthorised transactions.

A summary of the key changes to the Account & Access Facility Conditions of Use, which come into effect on 2 June 2023, are set out below:

Section 2 – Definitions

The following definitions have been amended:

• ‘Passcode’- updated to include a code provided to a member by SMS, email or in a mobile application, and to clarify that it includes single use and repeated use passwords or codes.
• ‘Device’ - updated to include virtual debit or credit cards.
• ‘Pay anyone banking facility’ - updated to exclude BPAY and PayTo payments.
• ‘Unauthorised transaction’ – now clarifies that these occur only where a third party has made the transaction without the member’s consent, and not where the member has made the transaction themselves.
• ‘Mistaken internet payment’ - updated to clarify that a mistaken internet payment does not include transfers of funds made by members as a result of a scam.

Section 6 – Passcode Security Requirements

• Clauses 6.2 and 6.3 have been amended and a new clause 6.9 has been introduced.

Section 9 – Mistaken Internet Payments (MIP)

• Clause 9.3 now states that if a member reports an MIP and we are satisfied that an MIP has occurred, within 5 business days of receiving the member’s report, we must request the receiving ADI to return the funds.

Our latest Account & Access Facility Conditions of Use can be found here. If you would like to discuss any of these changes, please contact us on 1300 36 2000 8:00 am to 7:00 pm AEST, Monday to Friday.

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