Upcoming changes to our Terms and Conditions

Insert the following new definitions, alphabetically as appropriate:

‘“Account details” means our record of your Account containing Account details including BSB, account number, account name, your full legal account name and Account activity. 

“Confirmation of Payee” is an initiative of the Australian Payments Plus (AP+) and is the industry-wide service which enables payers to check whether the account name they have entered in relation to a BSB and account number matches the account details held by the payee’s financial institution before making a payment. 

“Privacy Law” means the Privacy Act 1988 (Cth) and regulations made under that act.’ 

Replace the definition of “Product Disclosure Statement” or “PDS” with: 

‘means the relevant Product Disclosure Statement which forms part of the Terms and Conditions.’

Replace the definition of “Product Information Document” or “PID” with: 

‘means the relevant Product Information Document which forms part of the Terms and Conditions.’ 

Replace the definition of “Terms and Conditions” with: 

‘means where applicable, the following (as amended from time to time): 

(a) the contents of this document; 

(b) the contents of any relevant Product Information Document or Product Disclosure Statement; 

(c) conditions automatically implied by law; 

(d) conditions in any Credit Contract which expressly incorporates this document; 

(e) fees and charges and interest rates specified by us; and 

(f) the contents of any document, statement or communication similar to any relevant Product Information Document or Product Disclosure Statement that provides for rights and/or obligations applicable to your Account (for example, a Schedule of Fees and Charges).’

Replace the first three paragraphs of the ‘Privacy is Important…’ section with:

‘…especially when you consider the number of ways we communicate and interact these days. That’s why we’ve put together this statement.  It explains how we collect, hold, use and disclose your personal information for any products, services and dealings you have with us, and to explain who we may share your information with. You consent to the collection, use and disclosure of your information in accordance with these terms. These terms supplement our Privacy Policy and other documents that we may provide to you, for example, when you use our products or services. Please read these documents carefully.’

Replace the tenth and eleventh bullet points of the ‘Why do we collect personal information’ section with: 

‘ - identify, prevent or investigate any potential scams, fraud, unauthorised use or criminal activity and/or protect the legitimate interests of us, our customers and our related entities;

- conduct and perform marketing and promotional activities, including telling you about (and enabling our business and loyalty partners and related entities to tell you about) products or services that may be of interest to you, informing you of special events or offers, or running competitions, promotions events and programs;’

Include a new bullet point to the ‘Why do we collect personal information’ section with the following content:

‘- manage risk and operate and manage our business as part of the ANZ Group; and’

Include a new paragraph at the end of the ‘Why do we collect personal information’ section with the following content:

‘We may also collect your personal information for other purposes which we inform you about or which you have agreed to, or where required or authorised under law, regulation, codes of practice, external payment systems or the rules of a stock exchange.’

Replace the second paragraph under the ‘How we handle your personal information’ section with:

‘We also provide your personal information to, and collect your information from, other related entities or affiliates of Suncorp Bank and SME Management Pty Ltd, including ANZ and its related entities (ANZ Group). Those entities may disclose or use your personal information for the purposes described in ‘Why do we collect personal information?’ in relation to products and services they may provide to you and in the case of the ANZ Group for other ANZ Group purposes as outlined in the ANZ privacy policy. You can access the ANZ privacy policy here: https://www.anz.com.au/privacy/centre/policy/.’

Include five new bullet points to the third paragraph of the ‘How we handle your personal information’ section with the following content:

‘- your joint borrower(s) or joint account holder(s);

- people who are authorised or noted on your products with us as having a legal interest;

- other participants in the payment system (including payment organisations and merchants) and other financial institutions (such as banks); 

- customers of financial institutions, such as banks (including us), to facilitate PayID and Confirmation of Payee, as required; 

- third parties and related entities to facilitate ANZ Group corporate sales, acquisitions, restructures, investments or joint ventures. For instance, we may acquire or enter into joint ventures with third party businesses, sell, transfer or merge parts of the ANZ Group businesses, assets, products or services, or make other changes to the structure or the ownership of any part of the ANZ Group; and’

Replace the first sentence of the last paragraph of the ‘How we handle your personal information’ section with:

'We may also collect or disclose personal information about you from or to any entity where that collection or disclosure is required or authorised under law, regulation, codes of practice, external payment systems or the rules of a stock exchange.’

Insert the following new clause:

‘1.5A  Providing your information to others

We may also disclose your information (including confidential information) to our related entities and any other entities, bodies or persons described in the ‘How we handle your personal information’ section in clause 1.5 above. You consent to the disclosure of your information to these entities in this way.’

Update the paragraph numbering as follows:

‘Subject to the law and any applicable Code, we can change, add to, delete or vary these Terms and Conditions at any time for one or more of the following reasons:

(a) to comply with any change or anticipated change in any relevant law, code of practice, guidance or general banking practice;

(b) to reflect any decision of a court, ombudsman or regulator;

(c) to reflect a change in our systems or procedures, including for security reasons;

(d) to respond to changes in the cost of providing the Accounts or Access Methods;

(e) discontinue a product in which case we may change the terms of your product to reflect a different product with similar features to the discontinued product; or

(f) to make these Terms and Conditions clearer or to add features.

For example, we can change:

(g) interest rates and the way we calculate interest;

(h) fees and charges;

(i) when we charge or pay interest; or

(j) features, benefits or responsibilities under these Terms and Conditions.

We may be permitted to change the Terms and Conditions without your agreement to do so.’

Insert the following wording after the first paragraph:

‘Where we give you Particular Conditions that relate to the same subject matter, the Particular Condition dated later in time prevails to the extent of any inconsistency with a Particular Condition dated earlier in time.’

Re-number clause 29 (How you can contact us) to be clause 30.

Insert the following new clause:‘29 Confirmation of Payee

Clause 29 will become effective from 1 May 2025

29.1 Confirmation of Payee Confirmation of Payee allows payers to confirm the account name of the BSB and account number they want to make a payment to. 
We do not currently provide Confirmation of Payee to you, but other financial institutions may provide it to their customers. As a result, your Account details may be used and disclosed for the purpose of Confirmation of Payee, in accordance with this clause.


29.2 Use and disclosure of your Account details We will ensure your Account details are accurately recorded by us for the use of Confirmation of Payee. You acknowledge and authorise:

(a) us to use and disclose your Account details for Confirmation of Payee; and (b) payers’ financial institutions to use your Account details for the purposes of Confirmation of Payee and prior to making payments to you, including that
 they may disclose your Account details to their customers to check the likelihood the Account name they enter matches your Account details before 
 making a payment to you.

To the extent your Account details and the use of your Account details constitutes disclosure, storage and use of your personal information within the meaning of the Privacy Law, you acknowledge and agree that you consent to that disclosure, storage and use. If you do not want your Account details to be used and disclosed for these purposes then you may opt-out of Confirmation of Payee in some circumstances. For more information about opting out, please contact us on 13 11 75 or visit a branch. If we suspect or confirm you have received a payment due to fraud or a scam, we may opt you back into Confirmation of Payee if we determine that you do not satisfy the relevant opt-out criteria (unless another holder of your Account has a valid opt-out status in place). If you opt-out of Confirmation of Payee, you acknowledge and authorise us to still be able to confirm, disclose, store and use your Account details through Confirmation of Payee to government agencies for the purposes of them making a payment to you.’

Replace the first three paragraphs of the ‘Privacy is Important…’ section with:

‘…especially when you consider the number of ways we communicate and interact these days. That’s why we’ve put together this statement.  It explains how we collect, hold, use and disclose your personal information for any products, services and dealings you have with us, and to explain who we may share your information with. You consent to the collection, use and disclosure of your information in accordance with these terms. These terms supplement our Privacy Policy and other documents that we may provide to you, for example, when you use our products or services. Please read these documents carefully.’

Replace the eighth and ninth bullet points of the ‘Why do we collect personal information’ section with:

‘ - identify, prevent or investigate any potential scams, fraud, unauthorised use or criminal activity and/or protect the legitimate interests of us, our customers and our related entities;

- conduct and perform marketing and promotional activities, including telling you about (and enabling our business and loyalty partners and related entities to tell you about) products or services that may be of interest to you, informing you of special events or offers, or running competitions, promotions events and programs;’

Include a new bullet point to the ‘Why do we collect personal information’ section with the following content:

‘- manage risk and operate and manage our business as part of the ANZ Group; and’

Include a new paragraph at the end of the ‘Why do we collect personal information’ section with the following content:

‘We may also collect your personal information for other purposes which we inform you about or which you have agreed to, or where required or authorised under law, regulation, codes of practice, external payment systems or the rules of a stock exchange.’

Replace first paragraph of the ‘How we handle your personal information’ section with:

‘We collect your personal information directly from you and, in some cases, from other people or organisations. We also provide your personal information to, and collect your information from, other related entities or affiliates of Suncorp Bank, including ANZ and its related entities (ANZ Group). Those entities may disclose or use your personal information for the purposes described in ‘Why do we collect personal information?’ in relation to products and services they may provide to you and in the case of the ANZ Group for other ANZ Group purposes as outlined in the ANZ privacy policy. You can access the ANZ privacy policy here: https://www.anz.com.au/privacy/centre/policy/.’

Delete the second paragraph of the ‘How we handle your personal information’ section.

Include five new bullet points to the third paragraph of the ‘How we handle your personal information’ section with the following content:

‘- your joint account holder(s);

- people who are authorised or noted on your products with us as having a legal interest;

- other participants in the payment system (including payment organisations and merchants) and other financial institutions (such as banks);

- customers of financial institutions, such as banks (including us) to facilitate PayID and Confirmation of Payee, as required;

- third parties and related entities to facilitate ANZ Group corporate sales, acquisitions, restructures, investments or joint ventures. For instance, we may acquire or enter into joint ventures with third party businesses, sell, transfer or merge parts of the ANZ Group businesses, assets, products or services, or make other changes to the structure or the ownership of any part of the ANZ Group; and’

Include a new paragraph at the end of the ‘How we handle your personal information’ section with the collecting content:

‘We may also collect or disclose personal information about you from or to any entity where that collection or disclosure is required or authorised under law, regulation, codes of practice, external payment systems or the rules of a stock exchange. For example, under the following Australian laws we may be authorised or required to collect or disclose your personal information: Anti-Money Laundering and Counter-Terrorism Financing Act; Income Tax Assessment Acts, Tax Administration Act and A New Tax System (Goods and Services Tax) Act, and any regulations made under those Acts.’

Insert the following new clause:

‘1.4  Providing your information to others

We may also disclose your information (including confidential information) to our related entities and any other entities, bodies or persons described in the ‘How we handle your personal information’ section in clause 1.3 above. You consent to the disclosure of your information to these entities.’

Insert the following new clause:

‘5.14 Confirmation of Payee


Clause 5.14 will become effective from 1 May 2025

Confirmation of Payee

Confirmation of Payee allows payers to confirm the account name of the BSB and account number they want to make a payment to. 

We do not currently provide Confirmation of Payee to you, but other financial institutions may provide it to their customers. As a result, your Account details may be used and disclosed for the purpose of Confirmation of Payee, in accordance with this clause.


Use and disclosure of your Account details

We will ensure your Account details are accurately recorded by us for the use of Confirmation of Payee.

You acknowledge and authorise:

• us to use and disclose your Account details for Confirmation of Payee; and
• payers’ financial institutions to use your Account details for the purposes of Confirmation of Payee and prior to making payments to you, including that they may disclose your Account details to their customers to check the likelihood the Account name they enter matches your Account details before making a payment to you.

To the extent your Account details and the use of your Account details constitutes disclosure, storage and use of your personal information within the meaning of the Privacy Law, you acknowledge and agree that you consent to that disclosure, storage and use.

If you do not want your Account details to be used and disclosed for these purposes then you may opt-out of Confirmation of Payee in some circumstances. For more information about opting out, please contact us on 13 11 75 or visit a branch. If we suspect or confirm you have received a payment due to fraud or a scam, we may opt you back into Confirmation of Payee if we determine that you do not satisfy the relevant opt-out criteria (unless another holder of your Account has a valid opt-out status in place).

If you opt-out of Confirmation of Payee, you acknowledge and authorise us to still be able to confirm, disclose, store and use your Account details through Confirmation of Payee to government agencies for the purposes of them making a payment to you.’