Personal customers' terms and conditions
Products currently for sale
Select below to find the current T&Cs and recent changes.
Complete Freedom, Retirement Access Plus, Concession, Incentive Saver, Maxi Saver, Investment Cash
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 28th 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 |
Removed cheque access from the following accounts opened from 19 May 2025: Complete Freedom and Retirement Access Plus. |
| 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. |
Visa Debit Card
Summary of changes, effective 28th February 2025
| Section reference | Change description |
|---|---|
Section - 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. |
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. |
Summary of changes, effective 28th February 2025
| Section reference | Change description |
|---|---|
Part B: Terms and Conditions – 30. 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 1 May 2025
| Section reference | Change description |
|---|---|
Part A: General Information under heading “Who can apply for the Product?” |
Added paragraph to clarify that the customer must hold their own eligible Bank of Melbourne bank account to transfer and load funds into their Worldwide Wallet. |
| Part B Terms and Conditions, section 5 Loading and transferring funds. | Removed contents from table regarding ability to transfer funds onto a customer’s Worldwide Wallet from a third party and from accounts held with another financial institution.
Added paragraph to clarify that from 1 May 2025, a customer can only load funds onto the Worldwide Wallet from their own eligible Bank of Melbourne bank account and third parties can no longer directly transfer funds to a customer’s Worldwide Wallet.
Added section title names to section 13 and section 15 references in the last paragraph. |
| Part B Terms and Conditions, section 17 Closing the Product under heading “When we may close the Product” | Amended to clarify that suspending or closing the Product or cancelling any Card can be performed to manage material and immediate risks including but not limited to any risk to the integrity of the bank’s systems. |
- Home and Contents Insurance (applicable to policies with an effective date on or after 12 December 2021 or policies renewed on or after 22 November 2021)
- Home and Contents Insurance (applicable to policies with an effective date in the period 20 August 2021 to 11 December 2021 or renewed in the period between 5 October 2021 and 21 November 2021)
- Home and Contents Insurance (applicable to policies with an effective date in the period 1 July 2021 19 August or renewed in the period 1 July 2021 - 4 October 2021)
- Landlord Insurance (applicable to policies with an effective date on or after 12 December 2021 or policies renewed on or after 22 November 2021)
- Landlord Insurance (applicable to policies with an effective date in the period 20 August 2021 to 11 December 2021 or renewed in the period between 5 October 2021 and 21 November 2021)
- Landlord Insurance (applicable to policies with an effective date in the period 1 July 2021 19 August or renewed in the period 1 July 2021 - 4 October 2021)
For Travel, Caravan & Trailer and Pleasure Craft, please contact Allianz on 1800 825 866 for a copy of the PDS.