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How you can move money
How long does it take to transfer money to another account?
To Bank Australia accounts
These are processed immediately and are available straight away.
To other banks in Australia
Nowadays, many transfers between Australian banks happen using Osko – you'll see the symbol when you do your transfer. Osko payments typically transfer in less than a few minutes.
Other payments (not Osko) are generally available on the next business day. Noting that if you make the payment after business hours, it could take an extra day (depending on the other bank’s processing times, too).
Daily transaction limits
Transfers
- Internal transfers (between any Bank Australia accounts you are a signatory on) – $50,000
- External transfers – $5,000
- International transfers – $2,000
- BPAY® transfers - $10,000
Personal customers can alter limits by logging into Internet Banking.
EFTPOS, bills and ATMs
- BPAY – $10,000
- ATM/EFTPOS cash withdrawal – $1,000
- payWave (under $100) – $1,000
- In-store purchases (insert card, select CR, and enter PIN) – up to the balance of your account
Transactions made at a branch or over the phone have higher limits.
How to change your daily transaction limit
Contact us to make one-off or ongoing changes to your transaction limits.
Deposit cash
You can deposit cash at any Bank Australia branch or Post Office using your Visa Debit card.
Bank@Post
Customers with a Bank Australia card can make cash deposits up to $9,999.95 per day. It will be instantly deposited into your access account.
Good to know:
- You can deposit cheques (maximum deposit amount $999,999.99), but there's a 10-business day clearance hold
- Bank@Post transactions are free of charge when using a Visa Debit card
- Fees may apply if using credit card
- We offer a deposit only Visa for customers who just want to use Bank@Post
- In-store purchases (insert card, select CR, and enter PIN) – up to the balance of your account
- We no longer offer cash withdrawals via this service
- Feedback or complaints about the Bank@Post service can be raised directly with Bank Australia
How to withdraw cash
- ATMs – Bank Australia customers have fee free access to ATMs, including our own and those of all the major banks.
- Branches – You can withdraw cash in person at one of our branches. 24 hours' notice is required for withdrawals of $5,000 and above, or 48 hours' notice for withdrawals of $50,000 and above. Please call ahead of visiting.
- EFTPOS – You can get cash out when you make a purchase via EFTPOS at selected retailers. When paying, ask the cashier if you can withdraw cash. They will add the amount to the purchase price. Select SAV from the POS terminal and enter your PIN. Always check your receipt to ensure the correct amount of cash was added to the purchase.
What about the Post Office?
You can only deposit cash at the Post office. No withdrawals.
EFTPOS payments
Use your PIN or payWave to make EFTPOS payments. You can’t sign for payments with your Bank Australia card.
Under $100 – use payWave
Over $100 – use your PIN
Direct credits
Direct credits
A direct credit is an electronic deposit to your account. For example, your employer may deposit your salary into your account.
Salary form
To get paid into your Bank Australia account, complete our Salary Transfer Form and give it to your payroll department.
Direct debits
A direct debit is an electronic withdrawal which is debited from your BSB and account number. For example, you could authorise your insurance company to withdraw your premium from your account when it’s due.
Set a debit reminder
With a direct debit, it’s important to make sure you’ve got enough money in your account when it’s due. Otherwise, you could be hit with a dishonour fee if the payment is declined due to insufficient funds.
How to set up a direct debit
To arrange a direct debit or credit, simply give these details to who is doing the debiting or crediting:
- Bank name – Bank Australia
- Account name - exactly as it appears on your statement (including all joint owners if a joint account)
- Your BSB (313-140) and account number
Tip
Use the right number
Setting up a direct debit rather than a recurring payment arrangement means that you won’t need to update details with the merchant when your card expires.
How to cancel or change a direct debit?
You can send us a secure message in internet banking or contact us by phone, mail or in person. You can also contact the merchant directly.
PayTo
PayTo is a new way to manage payments from merchants and businesses, directly in your Bank Australia account. Not only can you use it for recurring and one-off payments, you can see and manage all PayTo payments in the Bank Australia app or internet banking.
Recurring Payment Arrangements
A recurring payment arrangement is an electronic withdrawal which is debited using your VISA debit/credit card number. For example, you could authorise your telecommunications provider to withdraw your monthly bill from your card number when it’s due.
Set a reminder
With a recurring payment arrangement, it’s important to ensure there are sufficient funds in the account when it’s due. When there are insufficient funds in your account, you may be charged a dishonour fee if the payment is declined.
Should a payment fail for 5 consecutive attempts due to insufficient funds in your account, the recurring or periodic payment will be cancelled by the bank. If you wish to have it in place, you will need to reinstate the recurring or periodic payment once there are sufficient funds in your account.
This applies to any recurring or periodic payment set up from internet banking, the app, through a branch or by calling our contact centre.
All accounts?
Recurring payments can be set up with any VISA debit or VISA credit card number.
How to set up a recurring payment arrangement
To arrange a recurring payment arrangement, simply give your VISA debit or VISA credit card details to who is doing the debiting.
Tip
Use the right number
Using your Visa credit card instead? Use the card number, not the account number. This way, you’ll avoid making cash advances.
How to cancel or change a recurring payment arrangement?
To cancel or change a recurring payment arrangement you will need to contact the merchant directly.
Common questions answered
What if a transaction is declined?
Transactions are usually declined if you have insufficient funds in the account or you have exceeded your daily limit.
If you’re unsure whether you have enough funds, check the app or contact us.
What does it mean if I get 'unlimited transactions'?
'Unlimited transactions' means there is no limit to your online or staff-assisted transactions. Just remember that ATM and EFTPOS withdrawals have a limit of $1,000.
What is BPAY® ?
BPAY allows you to pay bills in the app, internet banking and Phone Banking. Just look for the BPAY logo and payment codes on your bill.
There are no fees or charges for paying a bill via BPAY.
What is Click to Pay?
Click to Pay is Visa’s payment shortcut feature. It’s a secure way to pay in one click at the checkout. To enable the feature on your Bank Australia card, log into internet banking.
Look for the Click to Pay logo on sites that accept Visa.
What does 'at call' mean?
'At call' means you can withdraw money from your account as soon as it has been deposited.
It doesn’t apply to cheque deposits, which are held until cleared.
What’s an ‘external deposit’?
It’s when funds come into your account from an external source (e.g. from another bank, another customer, or your employer).
When you move money between your own accounts (including joint accounts), it’s not considered an external deposit.
Why can’t I make POLi payments?
POLi Payments is an independent service operated by Australia Post. Bank Australia has no working agreement with POLi, and we cannot guarantee the security of transactions conducted via POLi.
Instead, we recommend that you conduct transactions through the security of Bank Australia’s internet banking or by using your Bank Australia Visa card.
Who is the 'beneficiary' and 'remitter'?
The owner of the account that receives the payment is referred to as the beneficiary, and the owner of the account that sends the payment is referred to as the remitter.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
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