Changes to our Disclosure Documents
We have updated our Account & Access Facility Terms & Conditions, Electronic Banking Terms of Use and our Schedule of Fees & Charges documents, effective 15 August 2026. We will also be updating our Low Rate Visa Credit Card Terms and Conditions, effective 15 September 2026. To help you understand the changes that may affect you, we’ve provided a summary of the key changes below.
Changes to Account and Access Facility Terms and Conditions
- Removal of Pension Access account balance tiered interest rate structure as currently we apply a single interest rate regardless of the account balance.
- Alignment of Term Deposit eligibility criteria to include Defence related organisations, clubs, canteens, and messes.
- Clarification on interest calculation for Term Deposit accounts that are not fully funded when initially opened.
- Minor copy updates to the Digital Wallet terms and conditions.
- Inclusion of Visa Click to Pay functionality (as detailed below).
Introduction of Visa Click to Pay (effective 15 September 2026):
- Visa Click to Pay is a feature of your Visa Debit card which will allow you to use your Visa Debit card when you see the Click to Pay logo .
- It eliminates the need to enter card details manually each time you shop online or use digital services.
- Visa Click to Pay will be automatically enabled on 15 September 2026. If you have previously enrolled in this service directly with Visa, when we enable this service these terms and condition will apply and any separate agreement with Visa may cease.
If you do not wish to utilise the Visa Click to Pay functionality, please do not use the service and call us on 1300 13 23 28 to opt out of this feature.
View a copy of our Account and Access Facility Term and Conditions here.
Changes to Fees and Charges Schedule
Our Fees and Charges Schedule has also been updated, effective 15 August 2026.
- Removal of Investment Loan account fees.
- Adjustment to Fixed Rate Home Loan early repayment break cost to exclude Defence Home Ownership Assistance Scheme (DHOAS) subsidy payments.
- Inclusion of Bank@Post cheque dishonour fee and EFTPOS dispute fee at cost as charged by the third-party providers if applicable (effective 15 September 2026).
View a copy of our Fees and Charges Schedule here.
Changes to Electronic Banking Terms of Use
Our Electronic Banking Terms of Use have also been updated to align with the relevant changes in the Account and Access Facility Terms and Conditions, effective 15 August 2026.
View a copy of our Electronic Banking Terms of Use here.
Low Rate Visa Card Terms and Conditions
We are making these changes to our credit card terms and conditions with the aim to make the terms more fair and transparent for our members, and the majority of the changes are more favourable to you. In particular, the following clauses have been updated:
- 83 – clarifies when we can reasonably vary your credit card contract.
- 85 – clarified when you would be considered in default under the credit card loan contract.
- 106 –clarifies that we may disclose information about you and your loan to an actual or proposed assignee as per our Privacy Policy and that you may not assign, novate or otherwise deal with your rights or obligations under the credit card contract.
View a copy of our Low Rate Visa Credit Card Terms and Conditions here.
What do you need to do?
There is nothing you need to do, however we encourage you to read the updated documents on our website here as you are bound by these terms and conditions by continuing to operate your accounts.
Any questions?
If you have any questions, please call us on 1300 13 23 28 (Monday to Friday, 8.00am – 6.00pm and Saturday 9.00am – 12.00pm Sydney time) or email us on service@australianmilitarybank.com.au.