Statements of account When we will give you statements for your deposit account 27. At least every six months, or more frequently if you ask, we will give you an account statement for a deposit account (unless it is a passbook account). When we will give you statements for your Loan or credit account 28. If you are in Default on your Loan account, then we will give you a statement of account or alternative (for example, transaction history) if you ask for it. 29. If you are a Small Business or an individual and the rules in the National Credit Code about statements of account do not apply to your Loan or credit account, then we will give you a statement of transactions on your account as though those rules did apply. 30. However, we do not have to give you the statement referred to in paragraph 29 if the nature of the relevant Banking Service means it is impractical for us to do so. Cost of transaction service fees 31. If you are an individual that is not a Business, we will tell you about a transaction service fee immediately before you incur that fee, if it is practical and reasonable for us to do so. 32. However, it may not be practical or reasonable for us to do so in certain circumstances, for example: a) dishonour fees; b) if the fee is charged based on end of day balance and, therefore, is not necessarily incurred at the time of the transaction (for example, an overdrawn fee based on end of day balance); c) if you are making an online purchase from a third party, using a merchant terminal, or using a third party ATM; or d) break costs, which may be incurred if your transaction makes a prepayment on a fixed rate Loan. When we change our arrangements with you 33. The Terms and Conditions of a Banking Service may allow us to change those Terms and Conditions in certain situations without your agreement where allowable under law, including unfair contract terms laws. 34. Subject to paragraphs 35 to 37 below, we will tell you about any change to our Terms and Conditions as soon as reasonably possible. This includes a change to our Standard Fees and Charges. 35. If we change an interest rate, we will tell you as soon as reasonably possible, but no later than the date of the change, unless we are not able to because the interest rate is calculated according to a money market or some other external reference rate, or a rate otherwise designated as a variable or floating rate. 36. Apart from changes to interest rates or changes to repayments, if we believe a change is unfavourable to you, then we will give you prior notice of at least 30 Days, subject to paragraph 37 below. 37. We may give you a shorter notice period, or no notice, of an unfavourable change if: a) it is reasonable for us to manage a material and immediate risk; or b) there is a change to, or introduction of, a government fee or charge that you pay directly, or indirectly, as part of your Banking Service. In that case, we will tell you about the introduction or change reasonably promptly after the government notifies us (however, we do not have to tell you about it if the government publicises the introduction or change). 38. We will tell you about these changes by one or more of the following methods: a) by advertising in the national, or local, media; b) by giving you written notice (this includes printed or electronic communications such as app notifications, emails, publishing the notice on our website or another platform and directing you to the notice); c) by notifying you in any other way that is permitted by law; or d) through any other notice method agreed with you. 14 | ausbanking.org.au
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