Electronic Banking Terms and Conditions

Getting started

This document contains the terms and conditions for your Electronic Banking from Alex Bank Pty Ltd ABN 13 627 244 848, Australian Financial Services Licence and Australian Credit Licence 510805 (Alex, We, Us or Our).

Alex’s Electronic Banking services include:

• Alex Online (Internet Banking); and
• Alex App via mobile phone and tablet applications (Mobile Banking).

You must register to establish an Electronic Banking service in your name. You can register by calling us, going to www.alex.bank or downloading the Mobile Banking App.

If we automatically register you for Electronic Banking (for example when you apply for a product that is online only) we’ll give you notice.

When you sign into Electronic Banking for the first time you’ll be required to choose a Password. For your security, we recommend that you choose a Password for Electronic Banking that is unrelated to any of your other passwords.

To use Electronic Banking you’ll be required to agree and consent by completing an Electronic Communications Consent to receive notices, documents and communications for your current and future accounts electronically through Electronic Banking and be notified to your email address when a document is available to retrieve.

In order to use Electronic Banking you and any signatory authorised to administer your account in Electronic Banking must have satisfied Alex’s identification requirements.

Electronic equipment

Internet Banking is a browser-based service which means you don’t need any software other than a compatible browser. Mobile Banking is a mobile application-based service for approved Mobile Devices.

It’s your responsibility to ensure any electronic equipment required to use Electronic Banking is available to you, working properly, and that you know how to use it to access Electronic Banking.

You must take all reasonable steps to protect the security of your electronic equipment, including ensuring that it doesn’t have any viruses or any form of program or mechanism capable of recording your Access Codes.

Your liability

You authorise us to allow any transaction or act on any instructions received on an Account for which the correct Access Codes have been provided. You acknowledge that subject to the sections on liability below, you’ll be liable for any misuse of Electronic Banking.

Payments

You may use Electronic Banking to make Payments if the product terms and conditions allow you to do so. Payment may be made to other Alex Accounts, or to any valid account at another Australian financial institution which accepts such a Payment.

Withdrawals or debits that you initiate from your Account using Electronic Banking can’t be future dated.

You are solely responsible for providing correct payment details including amount and payee details and we have no liability to you for any payment made in accordance with details provided by you. However we will assist you in respect of Mistaken Payments as summarised below.

Where you instruct us to make a Payment using a BSB and account number we only verify that the BSB is valid to accept payments. We do not verify that the account number is valid nor do we verify that the account number matches the account name for any Payments to any financial institution. Please take care to enter the correct Account Details as you may not be able to recover a payment if it is credited to a mistaken account e.g. if there are no funds in the account.

Cut-off times

Payment instructions received after a cut-off time may not be processed until the next Banking Day depending on the payment method. This may be the case even if Electronic Banking shows a change in Account balances resulting from the instruction given. Different cut-off times apply to different payment methods.

We may vary cut-off times at any time. We’ll advise you in advance of permanent or long term variations to cut-off times. If we need to make temporary changes in order to restore or maintain our systems we may not give advance notice.

If you tell us to make an Electronic Banking transaction or payment before the applicable cut-off time, in most cases it’ll be treated as having been made on the same day. However, we may choose to process a transaction or payment on a day after the cut-off time for that day.

Delayed payments

We will endeavour to process all instructions initiated through Electronic Banking promptly but there may be delays that are caused by factors beyond our control. If you should reasonably be aware that there are technical problems affecting an instruction, our liability is limited to correcting any errors and refunding any fees that we have charged you.

Daily payment limits

We may impose a maximum amount per day you may transfer from all the Accounts you can access using Electronic Banking. At the moment that amount is $5,000 per day. If you would like a lower limit, you can set a daily withdrawal limit of up to $5,000 through Electronic Banking. Call us if you need to make any withdrawals which exceed the $5,000 daily limit.

Important note on Payments

We can’t verify Account Details for Payments. If the receiving financial institution has an account with the Account Details you enter, the Payment will usually be completed. If the Account Details don’t match to an account, in most cases the Payment is returned to the Account by the receiving financial institution.

For this reason, please be careful when making Payments, and check the Account transaction lists regularly for any returned Payments. If you make a Payment in error and it’s not returned automatically by the receiving financial institution, it may not be recoverable. Please refer to the Mistaken Payments section below for the circumstances when it may be recoverable.

Deposits

Where there is a discrepancy between an amount recorded as having been deposited into your Account and the amount recorded by us as having been received, we will notify you of the difference and the amount that will be adjusted.

Currency of information and availability

Information available through Electronic Banking concerning transactions and balances may not always be up to date. It will usually record the transactions and available balance of an Account up to the close of business on the previous Banking Day, but may show the effect of some transactions since the previous Banking Day. Information shown through Electronic Banking at a particular time may be adjusted after that time to reflect the true position between you and us.

Not all services and functions offered through Electronic Banking are available at all times. Internet Banking may be unavailable due to scheduled outages or due to factors beyond our control, such as your internet connection.

You are responsible for ensuring that the device and connection you are using to access Electronic Banking is functional. In addition, where you should reasonably have been aware that a system or equipment provided by us was unavailable or malfunctioning, our liability may be limited to correcting any errors and refunding any fees or charges.

Receipts

Where it is reasonable for us to do so, we will give you a receipt for each transaction processed on your account.

Statements

You will receive statements or other documents in respect of eligible Accounts through Electronic Banking.  Some of our products may be provided on the basis that all communications will be provided to you electronically, unless required otherwise by law or applicable codes. As such, if you do not consent to receiving communications electronically through Electronic Banking or otherwise or withdraw your consent, Alex may decline your application or close your account.

If you receive statements or other documents through Electronic Banking we’ll send an email to your nominated email address, advising that your statement or the document is available. It’s your responsibility to check your email regularly for these notifications and to access your statement or document promptly following our email. You must also keep your nominated email address current and let us know if you can’t access your email or Electronic Banking for any reason. You can’t opt out of receiving these notifications, however you can change your nominated email address at any time.

You should regularly check your account transactions and your statements and advise Alex as soon as possible of any errors or unauthorised transactions on your statement.

Suspension and termination

Alex may suspend or terminate your use of Electronic Banking if we are required to do so legally or by a regulator or we reasonably believe there is suspicious activity or that your access should be suspended or terminated. Where it is reasonable and permitted by law, we will promptly notify you of the suspension of your Electronic Banking.

You may terminate your use of Electronic Banking at any time by giving us written notice or calling us, except in respect of any online only Account.

Security and liability

Access Codes

Access Codes are the keys to each Account. They allow anybody using them to conduct operations on the Account. Because of this you must take special care to protect them. You must ensure that your Access Codes are kept secure in accordance with these Terms. You must not disclose your Access Codes to anyone, except to us, in the course of using Electronic Banking.

It is very important that your Access Codes remain secure. Ways to achieve this include choosing a Access Code that nobody could guess, not using one that includes your name, date of birth (or part thereof) or a combination of these, and not using the same password that is used for other services such as your email service.

If we suspect the security of any of your Access Code has been breached, you’ll be required to change it.

Protecting your Access Codes

To protect your Access Codes you must:

• try to memorise them;
• destroy any documentation or communication we send you that contains an Access Code;
• not write your Access Codes on your computer or Mobile Device, even if disguised;
• not keep a record of your Access Codes with or near your computer or Mobile Device unless the Access Code is reasonably disguised;
• not keep a record of an Access Code with another Access Code unless a reasonable attempt to protect the security of the Access Codes is made;
• not tell anyone your Access Codes, including family members and friends;
• not select as your Access Code a number or word that can easily be associated with you, such as your date of birth, phone number, driver’s licence number, or part of your name; and
• make sure nobody watches you or hears you when you’re entering or using your Access codes at electronic equipment.

If you make a record of your Access Codes you must either take reasonable steps to prevent unauthorised access to the record or ensure it is reasonably disguised. We don’t consider it a reasonable attempt to disguise an Access code if you only:

• record it in reverse order;
• record it as a series of numbers with any of them marked to indicate the Access Code;
• record the Access code as a phone number with the Access code in its correct sequence within the number;
• record the Access code as a telephone number where no other telephone numbers are recorded; or
• disguise the Access code as a date or as an amount.

There may be other forms of disguise which may be similarly unsuitable because of the ease of another person working out your Access Code.

Unauthorised access

If you suspect the security of any Access Code has been breached, your Mobile Device has been lost, stolen or misused, or an unauthorised transaction has occurred you must:

• call us immediately on 13 ALEX or +61 132 539 if calling from outside of Australia (or, if our reporting system is not as available, as soon as possible after it is available); and
• change your Access Code(s).

You should record the date and time of your report or attempted report of a suspected breach. We will also provide you with a record of your report.

Liability

When you are not liable

You will not be liable for losses resulting from unauthorised transactions made using Electronic Banking where it is clear that you have not contributed to the loss.

You will also not be liable for losses resulting from unauthorised transactions made using Electronic Banking that:

• are caused by the fraudulent or negligent conduct of our employees or agents or companies involved in networking arrangements, or merchants or their agents or employees;
• happen before you receive or select an Access Code;
• happen after we have been notified that a Mobile Device has been misused, lost or stolen or, the security of any Access Code has been breached or an authorised transaction has occurred;
• relate to any component of an Access Code or Identifier that is forged, faulty, expired, or cancelled;
• are the result of the same transaction being incorrectly debited more than once to the same account; or
• happen when our reporting system is not available (provided that you make a report within a reasonable time after the reporting system becomes available).

In the above situations we will credit the amount of the unauthorised transaction to the Account.

When you are liable

You will be liable for losses resulting from transactions which are carried out by you or by another person with the knowledge and consent of you.

You will be liable for actual losses resulting from unauthorised transactions made using Internet Banking caused by you:

• engaging in fraud;
• voluntarily disclosing any Access Codes to anyone, including a family member or friend;
• keeping a record of an Access Code without making a reasonable attempt to disguise it or to prevent unauthorised access to it in accordance with these Terms;
• where more than one Access Code is required, recording both (or all) of the codes in a way that they could be lost or stolen together;
• writing Access Codes or a disguised record of Access Codes on computer or Mobile Device;
• selecting an Access Code which represents your date of birth (or part thereof), or being an alphabetical code which is a recognisable part of your name, after we have asked you not to select such an Access Code and told them of the consequences of doing so;
• acting with extreme carelessness in failing to protect the security of their Access Codes; or
• unreasonably delaying notifying us of the misuse, loss or theft of a Mobile Device, or of Access Code(s) becoming known to someone else.

Where you have unreasonably delayed in notifying us of the misuse, loss or theft of a Mobile Device, breach in security of an Access Code(s) or unauthorised transaction, your liability will extend to losses which occur between the time when you became aware (or should reasonably have become aware) of such misuse, loss, theft or breach and when we are actually notified.  In all other cases, your liability will extend to losses which occur before we are notified of the misuse, loss, theft, breach or unauthorised transaction.

However, you’ll not be liable to pay for:

• that portion of the losses incurred in a period which exceed any transaction limit for that period;
• that portion of the losses incurred which exceed the balance of your Account(s), including any prearranged credit; or
• losses incurred on any accounts which the Account holder and Alex had not agreed could be accessed using Internet Banking.

Your liability is subject to Alex proving on the balance of probability that you contributed to the losses in one or more of the ways listed above.

If more than one Access Code is required to perform a transaction and we prove that you breached the security requirements for one or more, but not all, of those codes, you will be liable under this clause only if we also prove, on the balance of probabilities, that the breach of the security requirements was more than 50% responsible for the losses.

In circumstances where it is unclear whether you contributed to the loss, you will only be liable for losses resulting from unauthorised transactions made using Electronic Banking to a limited extent. Your liability in such cases will be the least of:

• $150.00;
• the balance of the Account on which the unauthorised transactions were made; or
• the actual loss incurred before we are notified of the misuse, loss or theft of a Mobile Device, breach in security of an Access Code(s) or unauthorised transaction.

Mistaken Payments

You should report Mistaken Payments to us as soon as you become aware of them.

You should record the date and time of your report or attempted report of a Mistaken Payment. We will also provide you with a record of your report.

This section provides a summary of the processes in which we deal with Mistaken Payments.

We may be the sending institution, that is the financial institution whose customer made the payment or the receiving institution, that is the financial institution whose customer received the payment (this customer is the unintended recipient of the payment). We will be the sending institution where the payment is made from your Alex Account. We will be the receiving institution where the payment is made to your Alex Account.

Where a financial institution other than us is the receiving or sending financial institution, we can’t guarantee that it’ll follow the above processes. A financial institution is unlikely to follow these processes if it is not an authorised deposit-taking institution for the purposes of the Banking Act. We are not liable for any loss suffered if it doesn’t follow those processes.

Where the sending institution is not satisfied that a payment is a Mistaken Payment, it is not required to take any further action, however it may choose to contact the unintended recipient and explain that a person has claimed that a transaction was mistaken.

Notwithstanding anything set out below, where the unintended recipient of the Mistaken Payment is receiving income support payments from Centrelink, the receiving institution must recover the funds from that recipient in accordance with the Code of Operation for Centrelink Direct Credit Payments.

Where you or another financial institution advises us that you are, or we think you may be, the sender or recipient of a Mistaken Payment, you must give us, as soon as reasonably practicable and within the time we request, any information we reasonably require to enable us to determine whether the payment was a Mistaken Payment.

Where the sending institution is satisfied that the Mistaken Payment occurred and there are sufficient credit funds available in the account of the unintended recipient to the value of the Mistaken Payment, the process that will apply will depend upon when the report of the mistaken transaction is made.

Where the report is made within 10 business days of the payment

If the receiving institution is satisfied that a Mistaken Payment has occurred, it will return the funds to the sending institution within 5 business days of the request or any reasonably longer period up to a maximum of 10 business days.

Where the report is made between 10 business days and 7 months of the payment

The receiving institution will investigate the payment and complete the investigation within 10 business days of receiving a request. If the receiving institution is satisfied that a Mistaken Payment has occurred, it will prevent the unintended recipient from withdrawing the funds for a further 10 business days and notify the unintended recipient that they will withdraw the funds if that recipient does not establish they are entitled to the funds within that 10 day period. If the unintended recipient does not establish they are entitled to the funds within that time, the receiving institution will return the funds to the sending institution within 2 business days of the end of that period.

Where a report is made more than 7 months after the payment

If the receiving institution is satisfied a Mistaken Payment occurred, it must seek the consent of the unintended recipient to return the funds.

In each case where the receiving institution is not satisfied that a Mistaken Payment has occurred, it may (but is not required to) seek consent of the unintended recipient to return the funds.

In each case, where the funds are returned to the sending institution, it will return the funds to the source Account as soon as practicable.

Where both the sending and receiving institution are satisfied that a Mistaken Payment has occurred but there are not sufficient credit funds available in the account of the unintended recipient, the receiving institution will use reasonable endeavours to recover the funds from the unintended recipient.

Where you receive a Mistaken Payment

Where:

• both we and the sending institution are satisfied that a payment made to your account is a Mistaken Payment;
• sufficient credit funds are available in your account to the value of that payment;
• the Mistaken Payment is reported 7 months or less after the payment; and
• the Mistaken Payment is reported between 10 business days and 7 months after the payment, and you don’t establish that you are entitled to the payment within the relevant 10 business day period,

we will, without your consent, deduct from your account an amount equal to that mistaken payment and send that amount to the financial institution of the payer.

If there are insufficient funds in your account, you must co-operate with us to facilitate payment by you of an amount of the Mistaken Payment to the payer.

We can prevent you from withdrawing funds that are the subject of a Mistaken Payment.

Liability for losses arising from Mistaken Payments

You must ensure that payment details are correct. You are solely responsible for providing correct payment details including amount and Account Details for the payee. We will return to you any funds recovered by us on your behalf from an unintended recipient in respect of a Mistaken Payment in accordance with these Terms, but otherwise have no liability to you for any payment made in accordance with details provided by you including Mistaken Payments.

Changes to Terms

We may vary these Terms from time to time. Where the variation is or may be adverse to you (including imposing additional fees or charges or additional liability on you or imposing, removing or changing a daily or other periodic limit), Alex will provide you with at least 30 days’ prior notice.

If we remove or increase a transaction limit, we will give you a clear and prominent notice that this may increase your liability in the case of unauthorised transactions.

We will tell you about the introduction or change to government charges reasonably promptly after the government notifies us (however, we do not have to tell you about if the government publicises the introduction or change).

In all other cases (including a change in a variable interest rate), we will provide notice no later than the date of the variation.

Where permitted by law and applicable codes, we may reduce the notice period or provide no notice period where the variation is necessary to comply with law, protect our systems, prevent criminal activity or to mitigate a material increase in credit risk or loss.

Notification may be communicated via an advertisement in the national or local media or by a notice printed on your account statement or by sending you a written or electronic notice.

Privacy and confidentiality

Your privacy is important to us. We only collect, use, store and disclose your personal information in accordance with the requirements of law and our Privacy Policy. We will make reasonable efforts to keep any such information that we have about you secure and to ensure that any of our employees or agents who have access to information about you do not make any unauthorised use, modification, reproduction or disclosure of that information. You should notify us if any of your personal information changes. You can request access to your information held by us by contacting us in accordance with the procedures set out in our Privacy Policy. Our Privacy Policy contains information about how you may complain about a breach of the Privacy Act 1988 (Cth), and the process by which your complaint will be handled.

Please refer to our Privacy Policy for full details of the above.

Change of details

You should notify Alex promptly of any changes to details on your account (including your email address). Alex is not responsible for any errors that occur as a result of your failure to do so.

Contact us

You can always reach us on phone and email during our business hours. Our contact details are:

Phone: 13 ALEX
Email: help@alex.bank

Jurisdiction and governing law

These Terms are governed by the law of Queensland and each party submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in Queensland.

Severability

If any of these Terms are held to be invalid, illegal, unlawful or otherwise incapable of being enforced, all other Terms will remain in full force and effect.

No Assignment

Your rights and obligations under these Terms are personal to you and you must not assign, transfer or otherwise dispose of any or all of your rights and/or obligations under these Terms. We may assign or transfer or otherwise dispose of our rights and/or obligations under these Terms by providing notice to you and provided that we deal with the underlying Account to the same extent and to the same transferee.

Feedback and complaints

Our internal dispute resolution scheme

We hope you are delighted with our services, but if you wish to make a complaint, you can notify us in the following ways:

• Email – you can email us on help@alex.bank; or
• Phone – you can call us on 13 ALEX.

Please clearly provide your contact details, and the details of your complaint. We aim to resolve all complaints within 5 business days and if this is not possible we will keep you informed of our progress. If you do not hear from us within five business days, you may contact our Complaints Team by email at complaints@alex.bank or by phone at 1300 738 453.

Our external dispute resolution scheme

If you are not satisfied with our response to your complaint, or if you consider that we have not responded to you in a timely manner, you may contact the Australian Financial Complaints Authority (AFCA) online at www.afca.org.au, by phone on 1800 931 678, or by mail at GPO Box 3, Melbourne, VIC 3001.

See our Privacy Policy and our Statement of Notifiable Matters for further details about our dispute resolution procedures in respect of your personal information (including credit information).

Schedule 1 – Mobile Banking App Terms & Conditions

Electronic Banking Terms & Conditions

Mobile Banking using the Mobile Banking App is a form of Electronic Banking. These terms are supplemental to and should be read in conjunction with the main Electronic Banking Terms & Conditions.

What can you use the Mobile Banking App for

With the Mobile Banking App, you can check your account balance(s) and transaction history. You may make payments from your account if the product terms and conditions allows you to do so. You can also use the Mobile Banking App to apply for our products and services.

Compatible Mobile Devices

(Android) You must only use the Mobile Banking App with a compatible Android device. A compatible Android device is one that meet the requirements listed in the Google Store.

(iOS) You must only use the Mobile Banking App with a compatible iPhone. A compatible iPhone device is one that meet the requirements listed in the Apple Store.

Making a Payment using Account Details

Payments will be processed by BSB and account number only, without using an account name. Some institutions with unique account numbers may disregard the BSB. Please take care to enter the correct Account Details as you may not be able to recover a payment if it is credited to a mistaken account e.g. if there are no funds in the account.

Access Codes

If you use Mobile Banking, you can access your Mobile Banking using your email address and general Password for Electronic Banking. You may be given an opportunity to select a Mobile personal identification number (PIN) or choose to use biometric information such as the fingerprints or facial data you store on your Mobile device for accessing Mobile Banking through your chosen Mobile device. Selecting a Mobile passcode or selecting to use the stored biometric information to sign into Mobile Banking are alternatives to entering the Password each time.

You can sign in by using biometric information where your Mobile device allows you to control access to it using, for example, any fingerprint or facial data that you store in the device. If you wish to sign in using biometric information, you should ensure that only your biometric information is stored on the Mobile device. Each time the Mobile device registers a use of biometric information to authorise any transactions through Mobile Banking, you instruct us to perform those transactions.

In addition to ensuring your Mobile device is secure, it is very important that each Mobile PIN or biometric information used in connection with that Mobile device, remain secure.

Security

Lock your Mobile Device and take any reasonable steps to stop unauthorised use of the Mobile Banking App or disclosure of your Access Codes.

You should not:

• allow another person to use your device to make purchases or payments;
• leave your device unattended; or
• use the Mobile Banking App with a device other than a compatible iOS device or Android device.

Notify us immediately if your Mobile Device is lost or stolen or you suspect your Access Codes have become known to someone else.

Only install approved applications on your Mobile Device and never override the software lockdown.

If deleting the Mobile Banking App or restoring the Mobile Device to factory default you may need to set up your PIN and other access again.

Please refer to the Electronic Banking Terms & Conditions for full details of the security measures you must take and when you will be liable for a transaction on your Account.

Suspension or Termination

We may suspend or terminate your use of the Mobile Banking App without notice at any time e.g. if we suspect unauthorised transactions have occurred or that the Mobile Banking App is being misused.

Schedule 2 – Glossary

Access Codes means any one or more of your Password, Mobile PIN or passcode, Security Code and any other code we provide to you (or permit you to choose) from time to time, that enables you to gain access to or use Electronic Banking and which you are required to keep secret.

Account means any one or more of your Alex bank accounts from which you can access Internet Banking services.

Account Details means the BSB and account number.

Banking Day means a day that is not a Saturday or Sunday and which banks in Brisbane and Sydney are able to effect settlement through the Reserve Bank of Australia, and typically excludes national public holidays.

Deposit means a transfer of value from an account held by another person with us or an account held by you or another person at another financial institution to your Account.

Electronic Banking means Internet Banking and /or Mobile Banking.

Identifier means information that a user knows and must provide to perform a transaction in Internet Banking but is not required to be kept secret.

Internet Banking means Alex’s latest online banking service platform available at www.alex.bank.

Mistaken Payment means a payment, other than one made using BPAY, by an individual through a ‘Pay Anyone’ internet banking facility and processed through direct entry where the funds are paid into the account of an unintended recipient because the user enters or selects a BSB and account number and/or Identifier that does not belong to the intended recipient as a result of the individual’s error or the individual being advised of the wrong BSB and account number and/or Identifier.

Mobile Banking means an internet service designed for our customers to access certain Electronic Banking services through a Mobile Device. Different services are presented depending on the nature of the Mobile Device. Services may be offered through an internet website, or through an application you may choose to install on your Mobile Device.

Mobile Banking App means the application that can be installed on your Mobile Device in order to access Mobile Banking.

Mobile Banking App Terms means Schedule 1 of these Terms, being the terms specifically applicable to use of the Mobile Banking App.

Mobile Device means a mobile phone, table device or another type of personal electronic device that is able to access Mobile Banking. Please contact us for details of supported operating systems.

Password means a confidential alphanumeric password that you will set up when you first use Electronic Banking and which can be changed using Electronic Banking. When used with your email address it gives access to Electronic Banking.

Payment including Pay Anyone, means a transfer of value from an account held with us to: an account (other than yours) which is held with us; or an account held at another Australian financial institution or an overseas financial institution that accepts such payments (which may be in a foreign currency) and includes a transfer to an account held by you at such institution.

Security Code is an authorisation code that is generated by a security device to authorise a transaction through Electronic Banking.

Terms means these Electronic Banking Terms & Conditions including the Mobile Banking App Terms unless specified otherwise.

We, us or our means Alex Bank Pty Ltd ABN 13 627 244 848.

You and your means the individual or organisation that holds the Electronic Banking service in their name and includes any person authorised to access or process transactions in respect of the relevant Account, where applicable.