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Banking basics

See answers to some of the most common queries we get about making payments with your Bank Australia account, including setting up direct debits and credits, withdrawing cash, and FAQs.

What’s on this page

How you can move money

App

Internet banking

Phone banking

Branches

ATMs

More ways to bank

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 customer) – $50,000
  • External transfers – $2,000
  • International transfers – $2,000

EFTPOS, bills and ATMs

  • BPAY – $10,000 ($2,000 via phone banking)
  • 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 or cheques

You can deposit cash or cheques at any Bank Australia branch or Post Office using your Visa Debit card.

Or you can mail cheques to:

Bank Australia, Reply Paid 507, Moe, VIC, 3825

(Please include a note with your account details.)

Bank@Post

Customers with a Bank Australia card can make cash deposits up to $3,000 per day. It will be instantly deposited into your access account.

Good to know:

  • You can deposit cheques (no limit), but there's a 7-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

How to withdraw cash

  1. ATMs – Bank Australia customers have fee free access to more than 10,000 ATMs, including our own and those of all the major banks. 
  2. Branches – You can withdraw cash in person at one of our branches. For amounts over $5,000, please call ahead of visiting.
  3. 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 from your account. For example, you could allow 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.

All accounts? 

Direct debits aren’t available on savings accounts. 

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
  • Your name –- exactly as it appears on your account
  • Your account number or credit card number
  • Our BSB (313 140)
Tip
Use the right number
Using your Visa Debit card for direct debit? Instead of providing the card number when setting it up, provide the account number. That way, you won’t need to update the details with the merchant when your card expires. 
Using your Visa Debit card instead? Use the card number, not the account number. This way, you’ll avoid making cash advances. 

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.

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. simple online checkout experience. 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.

Need help?

Send us a secure message in the app or internet banking 

Or call us