Important information about our products

Here you will find an explanation of the changes we’re making to our products, services and related documentation.

Terms and conditions

Information on upcoming changes to our terms and conditions.

Our terms and conditions are changing

We’re making some changes to our Conditions of Use Accounts and Access effective from 28 March 2024. These updates will apply to some of our deposit accounts and the processing of electronic credits on Members account(s).

  • the Target Saver Account will be closed to new business. Existing account owners can continue to use their accounts as normal;
  • for the Mighty Saver Account and the Under 18 Savings Account, we’re simplifying the way interest is earned, so balances of up to $20,000 will earn interest at one variable rate and balances greater than $20,000 will earn interest at another variable rate;
  • for the Target Saver Account and Reward Saver Account, we’ve clarified our requirements around the timing for when you will need to complete making your minimum total monthly deposit in order to receive bonus interest.

We will also be amending the Conditions of Use to clarify our rights to hold, delay or reject incoming electronic international and domestic payments where we reasonably consider it necessary to do so to comply with anti-money laundering and counter-terrorism financing (AML/CTF) laws.

Read Notice of Change