Replace clause heading title with:

"3 Deposits, Holds and Payment Refusal"

Replace clause and its heading title with the following:

Holds and Payment Refusal

We may place a hold on any funds in your Account or Carbon Insights Main and Sub-Account(s) (as applicable) or hold, delay or refuse to process a payment instruction initiated from your Account whilst we hold a reasonable belief that: 

• another party may have an entitlement to some or all of those funds; 
• funds have been transferred or deposited into your Account in error; 
• there is a dispute between Account Holders or signatories to the Account; 
• there is any cause for suspicion or concern in relation to the funds in your Account;
• it is necessary to protect you, us or other parties from losses resulting from suspected scams, fraud or other illegal conduct;
• you have breached any Terms and Conditions relating to your Account and the bank may suffer a loss if funds are withdrawn from your Account; 
• it is necessary to comply with the law or any applicable Code or to protect our Legitimate Interests.

We may hold or delay processing payment instructions initiated from your Account via Internet Banking or the Suncorp Bank App that we consider, acting reasonably, are of a higher risk, to protect you or us from losses resulting from scams, fraud or other illegal conduct. For example, this may include certain payments made to a payee for the first time. We may apply this hold:

• for up to 24 hours; or
• for such longer period of time as we consider is reasonably necessary in the circumstances, including to investigate the Transaction.

If we hold or delay processing a payment instruction initiated from your Account, you must ensure you have sufficient Cleared Funds in your Account to cover that payment until the hold is released and we process it, otherwise we may dishonour the payment or take any other action permitted by clause 17.2 of the Terms and Conditions for Suncorp Bank Accounts and for Continuing Credit Accounts or clause 13.1 of the Carbon Insights Account Product Information Document and Terms and Conditions (as applicable).

When a payment is held or delayed it may impact the operation of transaction or daily limits for Internet Banking and the Suncorp Bank App. Please refer to the Internet Banking Terms and Conditions and the Mobile Banking Terms and Conditions or Suncorp Bank App Terms and Conditions (as applicable) for details.

Insert the following new paragraph:
 

"Any payment instructions which have been held or delayed must be cancelled or allowed to process before we close your Account;"

Insert the following new paragraph:

"If we hold or delay processing your payment to a PayID because we consider it is of a higher risk, we are not obliged to process it if, at the time we try and make your payment, the PayID is no longer registered, is locked or the PayID Name attached to the PayID has changed since you provided your payment instructions."

• Terms and Conditions for Suncorp Bank Accounts and for Continuing Credit Accounts – Clause 3.

• Terms and Conditions for Suncorp Bank Accounts and for Continuing Credit Accounts – currently Clause 3.4 (to become clause 3.3 on 14 February 2025)
• Carbon Insights Account Product Information Document & Terms and Conditions – Clause 8

• Terms and Conditions for Suncorp Bank Accounts and for Continuing Credit Accounts – New paragraph (g) in Clause 15.1 (existing paragraph (g) will become (h))
• Carbon Insights Account Product Information Document & Terms and Conditions – New point in Clause 16.1

• Terms and Conditions for Suncorp Bank Accounts and for Continuing Credit Accounts – Clause 26.6
• Carbon Insights Account Product Information Document & Terms and Conditions –Clause 5.7

Replace the following paragraph:

“Pay Someone payments to other Suncorp accounts, other than future dated or recurring payments, will be processed immediately.”

With:

“Pay Someone payments to other Suncorp Bank accounts, other than future dated or recurring payments and any payment held or delayed because we consider it is of a higher risk, will generally be processed immediately.”

Replace the following paragraph:

“All transfers to other Suncorp Bank Accounts, other than future dated or recurring payments, will be processed immediately.”

With: 

“All transfers to other Suncorp Bank Accounts, other than future dated or recurring payments and any payment held or delayed because we consider it is of a higher risk, will generally be processed immediately.”

Insert the following new sentence

"If we hold or delay processing your payment to a PayID because we consider it is of a higher risk, we are not obliged to process it if, at the time we try and make your payment, the PayID is no longer registered, is locked or the PayID Name attached to the PayID has changed since you provided your payment instructions."

Replace the following paragraph:

“Once you authorise transactions to be processed, generally, we will not be able to stop, withdraw, suspend or delete the transfer, change any details or recover the funds except where the payment is due to occur at a future date where you may be able to edit or amend the payment details prior to the payment occurring.”

With:

"Once you authorise transactions to be processed, generally, we will not be able to stop, withdraw, suspend or delete the transfer, change any details or recover the funds except where: 

• the payment is due to occur at a future date in which case you may be able to edit or amend the payment details prior to the payment occurring; or
• we hold or delay processing a payment because we consider it is of a higher risk in which case you may be able to cancel it in the Suncorp Bank App or by calling us on 13 11 75."

Replace the following clause

“12.2 When a requested Pay Someone future dated or recurring payment is unsuccessful, we will notify you in the Suncorp Bank App and Internet Banking. Notification is deemed to have been received by you when it is received via one of these online platforms.”

With

“12.2 If you have requested a Pay Someone future dated or recurring payment or your payment instruction is held or delayed because we consider it is of a higher risk, we will notify you in the Suncorp Bank App and Internet Banking if it is unsuccessful. Notification is deemed to have been received by you when it is received via one of these online platforms.”

Replace the following sentence:

“When a requested future dated or recurring payment is unsuccessful, we will notify you in Internet Banking or the Suncorp Bank App. The notification is deemed to have been received by you when it is received via one of these online platforms.”

With:

"If you have requested a future dated or recurring payment or your payment instruction is held or delayed because we consider it is of a higher, we will notify you in Internet Banking or the Suncorp Bank App if it is unsuccessful. The notification is deemed to have been received by you when it is received via one of these online platforms."

Replace the following paragraph:

“When completing certain transactions in Internet Banking and the Suncorp Bank App and the total value of these transactions exceeds $3,000 in any given day we will require you to input a Security Token Code. More information on Security Tokens is available in clause 14. We may vary the Transaction Limit and/or the types of transactions which require a Security Token Code.”

With:

“When completing certain transactions in Internet Banking and the Suncorp Bank App and the total value of these transactions exceeds $3,000 in any given day (“Transaction Limit”) we will require you to input a Security Token Code. 

Important information about Transaction Limit for future dated, recurring and held payments

A Security Token Code is required at the time you give us your payment instructions, however, a payment will only count towards your Transaction Limit at the time it is processed by us. For future dated, recurring, and held payments (where there will be a delay between when you provide payment instructions and when we process the payment) this means that:

• We will require you to input a Security Token Code when you provide us with payment instructions if, had the payment been processed at that time, it would have caused you to exceed the Transaction Limit at that time. 
• However, until a future dated, recurring or held payment has been processed, it will not count towards the Transaction Limit for the purposes of determining whether a Security Token is required for any subsequent transactions which are processed before the future dated, recurring or held payment is processed. 
• We will not require you to input a Security Token at the time the future dated, recurring or held payment is processed, even if it would cause the Transaction Limit to be exceeded on that day.

More information on Security Tokens is available in clause 14. We may vary the Transaction Limit and/or the types of transactions which require a Security Token Code.

Replace the following paragraph:
 

“What happens if you exceed your daily limit: The total of all transactions (including Future Dated, and Recurring Payments) which utilise your daily limit across Internet Banking and the Suncorp Bank App on any given day from all of your Accounts must be less than your daily limit. If you attempt to perform a Transaction that exceeds your daily limit, it may be rejected.”
 

With: 
 

“What happens if you exceed your daily limit: The total of all transactions (including future dated, recurring and held payments) which utilise your daily limit across Internet Banking and the Suncorp Bank App on any given day from all of your Accounts must be less than your daily limit. A Transaction that exceeds your daily limit at the time it is processed may be rejected. For future dated, recurring and held payments (where there will be a delay between when you provide payment instructions and when we process the payment) this means they will count towards your daily limit on the day they are processed by us, not the day you instruct us to make the payment."

Insert the following new definition (alphabetically as appropriate):

“Transaction Limit” has the meaning given to that term in clause 13.1.1) of the Suncorp Bank App Terms and Conditions and clause 7.1) of the Internet Banking Terms and Conditions.

• Suncorp Bank App Terms and Conditions - Clause 10.3

• Internet Banking Terms and Conditions – Clause 17

• Internet Banking Terms and Conditions - Clause 19
• Suncorp Bank App Terms and Conditions – at the end of Clause 10.6

• Suncorp Bank App Terms and Conditions – Clause 10.12 (which will be renumbered as 10.13)
• Internet Banking Terms and Conditions - Clause 19

• Suncorp Bank App Terms and Conditions – Clause 12.2

• Internet Banking Terms and Conditions - Clause 11

• Suncorp Bank App Terms and Conditions – Clause 13.1.1)
• Internet Banking Terms and Conditions – Clause 7.1)

• Suncorp Bank App Terms and Conditions – Clause 13.2
• Internet Banking Terms and Conditions – Clause 7.2)

• Suncorp Bank App Terms and Conditions – Clause 1.5
• Internet Banking Terms and Conditions – Clause 30