Section B: General terms and conditions

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, acting reasonably, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. Acting reasonably, we may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the Up app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. Acting reasonably, we can at our discretion impose a limit on the amount you can withdraw in cash from your account at a branch, from an ATM or via an EFTPOS terminal.

Cash out limit: Our current maximum daily cash out default limit for transactions conducted at an ATM or EFTPOS terminal and using a PIN is $1000. This amount may be varied for customers upon application and approval.

Purchase limit: Our current maximum daily purchase limit for transactions conducted at an EFTPOS terminal and using a PIN is the available balance of your account.

We may vary the default amount of these limits or any other limit we impose from time to time. We may also limit the way in which money is dispensed. For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account. However, we will not pay you interest on the credit balance of any account while we are treating it as an offset account in relation to a loan account (even if the credit balance of the account exceeds the debit balance of the loan account).

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you. However, we do not exclude liability for loss or damage to the extent it was incurred due to the fraud, negligence or wilful misconduct of us, our employees or agents, or a receiver appointed by us.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
4. you must repay the overdrawn amount immediately; and
5. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our right to make these changes is subject to the conditions in clause 18. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by the National Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may cancel a payment facility at any time if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account;
6. we believe the security or quality of the Up app or any other related service or network is threatened; or
7. it is reasonably necessary to protect our legitimate interests, or it is to benefit you.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the Up app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions, we may close the account without giving you prior notice.

Examples of unsatisfactory conduct include:

• Behaviour that is defamatory, harassing, threatening to any person.
• Behaviour that promotes or encourages physical or mental harm of any person.
• We believe that your banking conduct poses a regulatory risk or is beyond our risk appetite.
• We have reason to believe that the account is being operated fraudulently.
• We have reason to believe that you have attempted to deceive Up, either knowingly or unknowingly.
• We have reason to believe that you have allowed another person to use Up on your device or to impersonate you in Up.
• We have reason to believe that your account is being used for business purposes.
• Your account is opened with a zero balance, and you do not operate your account within 180 days of opening.

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. Acting reasonably, we may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

We can only make changes to the extent reasonably necessary to protect our legitimate interests, or to benefit you, including:

1. changes because of changes to our cost of funds or other costs of doing business or to ensure that we receive an adequate return on assets;
2. changes because of requirements of laws or industry codes of practice, prudential standards, court decisions, decisions of our dispute resolution scheme, guidance or directions from regulators, and similar reasons;
3. changes due to changes in the way we operate our business or our systems;
4. changes we think are necessary to fix errors or to make things clearer;
5. changes for information security or similar purposes;
6. changes to reflect market practice or standards or to keep our products competitive and meeting customer expectations and needs; or
7. changes made for other good reasons.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise a complaint by contacting us using our contact details.

21.2. If you are not satisfied with the response provided, you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 30 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

We do not exclude any liability to you for loss or damage to you arising directly from the fraud, negligence or wilful misconduct of us, our employees or agents or a receiver appointed by us.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. We may use the certificate as evidence of the matter, unless it is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

27.14. We may only exercise our rights under a term in these terms and conditions to the extent (if any) reasonably necessary to protect our legitimate interests. This clause applies to a term in these terms and conditions, despite any other term, if it:

1. is subject to unfair contract terms legislation; and
2. is to our advantage; and
3. causes a significant imbalance in the rights and obligations of you and us under these terms and conditions; and
4. would cause detriment to you if we applied the term or relied on the term.

Words used in this clause have the meanings given to them in the unfair contract terms legislation.

When your credit rating could be affected

27.15. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, acting reasonably, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. Acting reasonably, we may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the Up app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. Acting reasonably, we can at our discretion impose a limit on the amount you can withdraw in cash from your account at a branch, from an ATM or via an EFTPOS terminal.

Cash out limit: Our current maximum daily cash out default limit for transactions conducted at an ATM or EFTPOS terminal and using a PIN is $1000. This amount may be varied for customers upon application and approval.

Purchase limit: Our current maximum daily purchase limit for transactions conducted at an EFTPOS terminal and using a PIN is the available balance of your account.

We may vary the default amount of these limits or any other limit we impose from time to time. We may also limit the way in which money is dispensed. For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account. However, we will not pay you interest on the credit balance of any account while we are treating it as an offset account in relation to a loan account (even if the credit balance of the account exceeds the debit balance of the loan account).

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you. However, we do not exclude liability for loss or damage to the extent it was incurred due to the fraud, negligence or wilful misconduct of us, our employees or agents, or a receiver appointed by us.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
4. you must repay the overdrawn amount immediately; and
5. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our right to make these changes is subject to the conditions in clause 18. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by the National Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may cancel a payment facility at any time if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account;
6. we believe the security or quality of the Up app or any other related service or network is threatened; or
7. it is reasonably necessary to protect our legitimate interests, or it is to benefit you.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the Up app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice. Examples of unsatisfactory conduct include behaviour that is:

• Defamatory, harassing, threatening to any person
• Promotes or encourages physical or mental harm of any person

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. Acting reasonably, we may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

We can only make changes to the extent reasonably necessary to protect our legitimate interests, or to benefit you, including:

1. changes because of changes to our cost of funds or other costs of doing business or to ensure that we receive an adequate return on assets;
2. changes because of requirements of laws or industry codes of practice, prudential standards, court decisions, decisions of our dispute resolution scheme, guidance or directions from regulators, and similar reasons;
3. changes due to changes in the way we operate our business or our systems;
4. changes we think are necessary to fix errors or to make things clearer;
5. changes for information security or similar purposes;
6. changes to reflect market practice or standards or to keep our products competitive and meeting customer expectations and needs; or
7. changes made for other good reasons.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise a complaint by contacting us using our contact details.

21.2. If you are not satisfied with the response provided, you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 30 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

We do not exclude any liability to you for loss or damage to you arising directly from the fraud, negligence or wilful misconduct of us, our employees or agents or a receiver appointed by us.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. We may use the certificate as evidence of the matter, unless it is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

27.14. We may only exercise our rights under a term in these terms and conditions to the extent (if any) reasonably necessary to protect our legitimate interests. This clause applies to a term in these terms and conditions, despite any other term, if it:

1. is subject to unfair contract terms legislation; and
2. is to our advantage; and
3. causes a significant imbalance in the rights and obligations of you and us under these terms and conditions; and
4. would cause detriment to you if we applied the term or relied on the term.

Words used in this clause have the meanings given to them in the unfair contract terms legislation.

When your credit rating could be affected

27.15. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. We may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings and indemnify us against any potential losses either you or we suffer arising from any breach by you of such undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the Up app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. We can at our discretion impose a limit on the amount you can withdraw in cash from your account at a branch, from an ATM or via an EFTPOS terminal.

Cash out limit: Our current maximum daily cash out default limit for transactions conducted at an ATM or EFTPOS terminal and using a PIN is $1000. This amount may be varied for customers upon application and approval.

Purchase limit: Our current maximum daily purchase limit for transactions conducted at an EFTPOS terminal and using a PIN is the available balance of your account.

We may vary the default amount of these limits or any other limit we impose from time to time. We may also limit the way in which money is dispensed. For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account. However, we will not pay you interest on the credit balance of any account while we are treating it as an offset account in relation to a loan account (even if the credit balance of the account exceeds the debit balance of the loan account).

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting, declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. your account may incur an Overdrawn Account Fee as per the fees and charges set out in this document;
4. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
5. you must repay the overdrawn amount immediately; and
6. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by a Consumer Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may at our absolute discretion cancel a payment facility at any time without notice to you. Without limiting the circumstances in which we may do so, we may cancel a payment facility if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account; or
6. we believe the security or quality of the Up app or any other related service or network is threatened.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the p transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the Up app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice. Examples of unsatisfactory conduct include behaviour that is:

• Defamatory, harassing, threatening to any person
• Promotes or encourages physical or mental harm of any person

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. We may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. We are not liable for any loss or damage arising from placing a stop on your account.

15.10. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at our absolute discretion at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise a complaint by contacting us using our contact details.

21.2. If you are not satisfied with the response provided, you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 30 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. The certificate is sufficient proof of the matter, unless you prove the certificate is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

When your credit rating could be affected

27.14. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. We may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings and indemnify us against any potential losses either you or we suffer arising from any breach by you of such undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the UP app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. We can at our discretion impose a limit on the amount you can withdraw in cash from your account at a branch, from an ATM or via an EFTPOS terminal.

Cash out limit: Our current maximum daily cash out default limit for transactions conducted at an ATM or EFTPOS terminal and using a PIN is $1000. This amount may be varied for customers upon application and approval.

Purchase limit: Our current maximum daily purchase limit for transactions conducted at an EFTPOS terminal and using a PIN is the available balance of your account.

We may vary the default amount of these limits or any other limit we impose from time to time. We may also limit the way in which money is dispensed. For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account.

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting, declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. your account may incur an Overdrawn Account Fee as per the fees and charges set out in this document;
4. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
5. you must repay the overdrawn amount immediately; and
6. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by a Consumer Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may at our absolute discretion cancel a payment facility at any time without notice to you. Without limiting the circumstances in which we may do so, we may cancel a payment facility if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account; or
6. we believe the security or quality of the Up app or any other related service or network is threatened.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the p transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the UP app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice. Examples of unsatisfactory conduct include behaviour that is:

• Defamatory, harassing, threatening to any person
• Promotes or encourages physical or mental harm of any person

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. We may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. We are not liable for any loss or damage arising from placing a stop on your account.

15.10. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at our absolute discretion at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise a complaint by contacting us using our contact details.

21.2. If you are not satisfied with the response provided, you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 30 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. The certificate is sufficient proof of the matter, unless you prove the certificate is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

When your credit rating could be affected

27.14. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. We may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings and indemnify us against any potential losses either you or we suffer arising from any breach by you of such undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the UP app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. We can at our discretion impose a limit on the amount you can withdraw in cash from an ATM or via an EFTPOS terminal. Our current default for maximum daily withdrawal limit for transactions conducted using a PIN in conjunction with a card is $1000 (for CHQ/SAV purchases). This amount may be varied for customers upon application and approval. We may vary the default amount of this limit or any other limit we impose from time to time. We may also limit the way in which money is dispensed.

For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account.

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting, declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. your account may incur an Overdrawn Account Fee as per the fees and charges set out in this document;
4. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
5. you must repay the overdrawn amount immediately; and
6. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by a Consumer Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may at our absolute discretion cancel a payment facility at any time without notice to you. Without limiting the circumstances in which we may do so, we may cancel a payment facility if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account; or
6. we believe the security or quality of the Up app or any other related service or network is threatened.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the p transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the UP app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice. Examples of unsatisfactory conduct include behaviour that is:

• Defamatory, harassing, threatening to any person
• Promotes or encourages physical or mental harm of any person

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. We may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. We are not liable for any loss or damage arising from placing a stop on your account.

15.10. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at our absolute discretion at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise your complaint with us by contacting using our contact details.

21.2. If you are not satisfied with the response provided, you have the option of referring the matter to our Customer Advocate who will impartially assess your complaint, keep you informed of the progress and provide you with a response. You can contact the Customer Advocate via:

1. telephone - 1300 139 572 (+61 3 5485 7919) between 8.30am and 5pm (AEST/AEDT), weekdays.
2. email - customeradvocate@bendigoadelaide.com.au
3. post -- write to Customer Advocate, P.O. Box 480, Bendigo, VIC 3552

21.3. Alternatively (or following consideration by the Customer Advocate) you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 45 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. The certificate is sufficient proof of the matter, unless you prove the certificate is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

When your credit rating could be affected

27.14. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. We may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings and indemnify us against any potential losses either you or we suffer arising from any breach by you of such undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.
3. At any Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5);

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. It will usually take three business days for a cheque to clear. If we allow you to draw on a cheque before it has cleared, you will be liable for the amount of the cheque if it is subsequently dishonoured and you authorise us to debit the amount of the cheque plus applicable bank charges to your account. International deposits may be subject to extended clearance times.

7.3. We will not accept any cheque that is not payable to you whether the cheque has been endorsed in your favour or not.

Bank@Post™ and its device mark are trademarks (registered or otherwise) of Australian Postal Corporation. All rights reserved.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
   • at a Post Office using Bank@Post™ (where available and subject to restrictions, see clause 29.5)
2. by transferring funds electronically in the UP app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. We can at our discretion impose a limit on the amount you can withdraw in cash from an ATM or via an EFTPOS terminal. Our current default for maximum daily withdrawal limit for transactions conducted using a PIN in conjunction with a card is $1000 (for CHQ/SAV purchases). This amount may be varied for customers upon application and approval. We may vary the default amount of this limit or any other limit we impose from time to time. We may also limit the way in which money is dispensed.

For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions (including the Post Office) may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account.

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error or because a cheque is dishonoured. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting, declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. your account may incur an Overdrawn Account Fee as per the fees and charges set out in this document;
4. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
5. you must repay the overdrawn amount immediately; and
6. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by a Consumer Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may at our absolute discretion cancel a payment facility at any time without notice to you. Without limiting the circumstances in which we may do so, we may cancel a payment facility if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account; or
6. we believe the security or quality of the Up app or any other related service or network is threatened.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the p transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the UP app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice.

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. We may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. We are not liable for any loss or damage arising from placing a stop on your account.

15.10. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at our absolute discretion at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change.	Minimum number of days notice
Any change that is an increase in fees or charges.	30
A variation of the method by which interest is calculated. A variation of the frequency with which interest is debited or credited. A variation of the balance ranges within which interest rate apply.	30
Increase your liability for losses relating to EFT transactions.	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment.	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above). Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you).	No later than the day on which the change takes effect.

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise your complaint with us by contacting using our contact details.

21.2. If you are not satisfied with the response provided, you have the option of referring the matter to our Customer Advocate who will impartially assess your complaint, keep you informed of the progress and provide you with a response. You can contact the Customer Advocate via:

1. telephone - 1300 139 572 (+61 3 5485 7919) between 8.30am and 5pm (AEST/AEDT), weekdays.
2. email - customeradvocate@bendigoadelaide.com.au
3. post -- write to Customer Advocate, P.O. Box 480, Bendigo, VIC 3552

21.3. Alternatively (or following consideration by the Customer Advocate) you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 45 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

24.2. The Australian Government has given notice that it is reviewing the application of the Financial Claims Scheme to accounts held by non-residents of Australia. This may result in the Financial Claims Scheme no longer applying to accounts held with us by overseas customers.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. The certificate is sufficient proof of the matter, unless you prove the certificate is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

When your credit rating could be affected

27.14. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.

Unless you have previously agreed to be bound by these terms and conditions, your first use of any account or payment facility indicates that you understand and agree to be bound by these terms and conditions.

1. Opening and holding an account

1.1. You must provide us with any information we reasonably require to open an account or provide a payment facility.

1.2. Subject to the requirements of any law, we may refuse to open an account or provide a payment facility.

1.3. You may not be eligible to open and hold all types of accounts. The Key Features Table sets out eligibility requirements that apply.

1.4. None of the accounts to which this document applies are available for use by a business or for business purposes.

1.5. We may require you at any time to provide us with proof that you meet the eligibility requirements for an account. If:

1. after opening an account you no longer meet the eligibility requirements; or
2. you do not provide us with proof that you meet the eligibility requirements when we ask for it,

we may change your account to another type of account to which this document applies.

1.6. We may require you to deposit a minimum amount with us in order to open an account. The minimum amounts that currently apply are set out in the Key Features Table.

1.7. There is no minimum account balance required to maintain an account. However, where an account has been opened without you depositing any amount (that is, with a zero balance) and you do not operate your account within 180 days of opening, we may close the account without giving you notice.

2. Identification

2.1. We require identification information for all relevant parties as required by law. This will include information such as name, residential address and date of birth. We may also require other information such as information about your activities and reason for opening an account in Australia.

3. Verification

3.1. We may, and you consent to us doing so, seek verification of your identification and identification documents from independent sources and/or third party service providers.

3.2. We will keep copies of all documents provided by you and will disclose or provide copies of your identification documents to third party bodies as required by law.

3.3. We may request, and you must provide, further documentary evidence of your identity as we deem necessary to confirm your identity.

3.4. We may request that you produce, and you must provide in person if necessary, the original and/or certified true copies of all documentary evidence confirming your identity.

4. Inability to confirm identity

4.1. In the event that we are unable to properly confirm your identity, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as your identity can be confirmed.

5. Additional Information and use of account

5.1. We may request, and you must provide, any other additional information we deem necessary in relation to your identity, personal affairs, business dealings and/or the purpose of your relationship with us. In the event you refuse or fail to provide us with information we have reasonably requested, we may at our sole discretion, reject your application, suspend the operation of your account, refuse transactions and/or place a freeze on your funds until such time as the information is provided.

5.2. You provide us with the following undertakings and indemnify us against any potential losses either you or we suffer arising from any breach by you of such undertakings:

1. you will not initiate, engage in or effect a transaction that may be in breach of Australian law or sanctions (or the law or sanctions of any other country); and
2. the underlying activity/product for which the Up app is being provided does not breach any Australian law or sanctions (or the law or sanctions of any other country).

6. Payment Facilities

6.1. Depending on the type of account you hold with us, you may be able to gain access to one or more payment facilities. The payment facilities that are currently available with each type of account are set out in the Key Features Table.

7. Deposits and Withdrawals

Deposits

7.1. You may make deposits to your account by:

1. arranging an automatic deposit of your salary or other income or amounts to be paid directly into your account using the BSB and account number for your account; or
2. transferring funds electronically into your account from another financial institution account using the BSB and account number for your account.

Some of the above methods for deposits may not be accessible by you when you are outside of Australia.

7.2. The proceeds of a deposit may not be available for up to 5 business days after the deposit is made. International deposits may be subject to extended clearance times.

7.3. You cannot deposit cash (physical currency), cheques or mail orders into your account.

Withdrawals

7.4. You may make withdrawals from your account in the following ways:

1. if your account is linked to a card, using the card (including in a digital wallet):
   • at an ATM;
   • via EFTPOS terminals;
2. by transferring funds electronically in the UP app using Pay Anyone or BPAY
3. using an Automatic Payment.

You cannot make cash or other withdrawals from your account in a bank branch except by using a card at an ATM.

Also, some of the above methods for withdrawals may not be accessible by you when you are outside of Australia.

7.5. We can at our discretion impose a limit on the amount you can withdraw in cash from an ATM or via an EFTPOS terminal. Our current default for maximum daily withdrawal limit for transactions conducted using a PIN in conjunction with a card is $1000 (for CHQ/SAV purchases). This amount may be varied for customers upon application and approval. We may vary the default amount of this limit or any other limit we impose from time to time. We may also limit the way in which money is dispensed.

For example, if you want to withdraw $400 (and that amount is not in excess of the maximum daily withdrawal limit), the ATM may not pay out on that amount in one transaction. You may receive $300 and then make another withdrawal of $100 as a separate transaction.

7.6. You should ensure that the purchase amount is correct on any electronic equipment you use when you perform a transaction.

7.7. EFTPOS merchants may have other restrictions on the amount of cash that can be withdrawn. Merchants or other institutions may also impose additional restrictions on the use of your card or PIN.

7.8. We may decline a withdrawal if we do not have proof of your identity that is satisfactory to us.

7.9. You authorise us to debit to your account with all withdrawals you make from that account.

7.10. Contactless transactions are subject to separate transaction limits. These limits are imposed by us and the financial institution responsible for the EFTPOS terminal.

8. Interest

8.1. If the Key Features Table indicates that your account is interest earning, we will pay you interest on the credit balance of your account.

8.2. We may change the interest rate from time to time at our discretion. If any law regulates such a change, we will only make the change to the extent permitted by, and subject to, the requirements of that law. We will give you such notice of a change in the interest rate if we are legally required to do so.

8.3. You can find the current interest rates for your account at any time by visiting our website at Up.com.au.

8.4. We calculate interest by applying the daily percentage rate to the balance of your account (or if it is stepped interest, to the relevant part of your balance) at the end of each day. The daily percentage rate is the relevant interest rate divided by 365, or in a leap year, 366.

8.5. The type of account you have will determine when interest is credited to your account. The Key Features Table sets out when interest is credited.

9. Transaction Processing

9.1. We may assign any date we reasonably consider appropriate to a debit or credit to your account, except that, in the case of a debit, the date must not be earlier than the date on which the relevant transaction occurs. However, we will credit payments to your account as soon as practicable after we receive them. This is not necessarily the same day that you make the payment. We give effect to the debit or credit based upon the date assigned to it by us.

9.2. We may subsequently adjust debits and credits to your account so as to accurately reflect the legal obligations of you and us, for example, because of an error. If we do this, we may make consequential changes, including to interest.

For example: If a payment or deposit is made into your account in error, we may withdraw that payment or deposit from your account without your consent, including any interest paid into your account on that payment or deposit. If you have spent those funds you will be required to repay them or your account may be overdrawn.

9.3 We may reject, decline, fail to authorise, or delay any transaction to or from your account or, in the case of a credit to your account, delay making the funds available to you where we consider it reasonable to do so. Without limitation, this includes where:

• we reasonably believe we are required to do so in order to comply with any applicable laws (including any laws relating to anti-money laundering or sanctions) or under the rules, regulations and procedures that apply to the payment system the transaction was processed through;
• you fail to comply with any of your obligations under these terms and conditions; or
• we consider it necessary or desirable to do so to enable us to review or investigate the transaction for any fraudulent, illegal or improper activity or for compliance with any applicable sanctions.

We are not liable to you for any loss or damage you suffer as a result of us rejecting, declining, failing to authorise or delaying any transaction to or from your account or any delay in funds being made available to you.

10. Overdrawn accounts

10.1. You must keep a credit balance in your account at all times and must not overdraw your account or use a payment facility or request a payment service which could overdraw your account.

10.2. If you do overdraw your account in breach of these terms and conditions:

1. we may debit the overdrawn amount to your account;
2. we may restrict the way in which you gain access to your account, such as suspending card access;
3. your account may incur an Overdrawn Account Fee as per the fees and charges set out in this document;
4. we may calculate interest on the overdrawn amount on a daily basis, and debit it to your account half yearly for the Up Everyday Account & Monthly for the UP Saver Account, until the overdrawn amount is repaid;
5. you must repay the overdrawn amount immediately; and
6. we may cancel any payment facility linked to the account.

10.3. We may change the interest rates for overdrawn accounts from time to time at our discretion. If any law regulates such a change we will only make the change to the extent permitted by, and subject to, the requirements of that law. Our current interest rates for overdrawn accounts are available on our website at Up.com.au.

10.4. We do not agree to provide you with credit merely because we debit an amount to your account that causes it to be overdrawn.

10.5. If you are the recipient of Centrelink benefits we will act in accordance with our obligations under the Code of Operation for Department of Human Services and Department of Veterans' Affairs Direct Credit Payments when exercising our rights in relation to your overdrawn account, for example, where we combine accounts. In particular unless otherwise agreed, we will allow you to access up to 90% of your future Centrelink benefits until the account is no longer overdrawn.

11. Account Combination

You agree that we may combine the balances of two or more of your accounts, including accounts you have with us that are not the subject of these terms and conditions. For example, we may do this if one of your accounts is overdrawn or in debit and the other is in credit. In this situation the credit in one account would be used to reduce the debit balance in the other account. We will promptly inform you if we combine your accounts. We need not notify you in advance.

12. Statements and Confirmation of Transactions

12.1 We will issue you with a statement of account at least once every 6 months.

If you would like to receive a statement of account more frequently, please contact us. A fee may apply to this service. Current fees and charges are set out in this document.

12.2. You must immediately notify us if you notice an error or possible unauthorised transaction.

12.3. You should keep your statements safe for future reference.

12.4. You agree that confirmation of transactions involving your account or any payment facility may be provided in the Up app.

12.5. You agree that any request you make for a balance or information using the Up app or by any other means, in relation to any account which is regulated by a Consumer Credit Code is not a request for a statement of a kind referred to in that Code in respect of that regulated accounts.

13. Receipts and vouchers

13.1. You should keep your printed records of transactions to reconcile to your statement. We are not obliged to provide you with copies of merchant or transaction vouchers.

13.2. We strongly advise you to keep all of these documents in a safe place, as you may need them to do things such as complete tax returns, confirm payments have been made for goods and services and check for payments that are unpresented and how much money you have in your account at any one time.

13.3. If you misplace any of your account records or need us to provide you with information about any of your transactions, such as interest payments for tax purposes, we can help by conducting a search of our records. A fee may apply for this service to cover our costs. Current fees and charges are set out in this document.

14. Cancelling a payment facility

14.1. We may at our absolute discretion cancel a payment facility at any time without notice to you. Without limiting the circumstances in which we may do so, we may cancel a payment facility if:

1. we have received notice of your mental incapacity, bankruptcy or death;
2. we believe any of your access methods are being used, or will be used, in a way that will cause loss to you or us;
3. we reasonably believe you induced us to issue the payment facility by fraud;
4. you breach any of these terms and conditions;
5. we close your account; or
6. we believe the security or quality of the Up app or any other related service or network is threatened.

14.2. We will take and promptly process your instruction to cancel a direct debit request which is set up using your account number. You may cancel a direct debit request at any time by contacting us through our contact details.

14.3. You are encouraged to maintain a record of any Regular Payment arrangement entered into with a merchant using your card number.

14.4. To either change or cancel any Regular Payment arrangement set up using your card number you should contact the merchant at least 15 days prior to the next scheduled payment. Until you attempt to cancel the Regular Payment arrangement with the merchant directly we must accept the merchant's transaction. If possible you should retain a copy of their change/cancellation request. Should the merchant fail to act in accordance with these instructions you may have rights to dispute the p transaction.

14.5. Should your card number be changed i.e. as a result of lost or stolen card you must request the merchant to change the details of your existing Regular Payment arrangement to ensure arrangements continue. If you fail to undertake this activity your Regular Payment arrangement either may not be honoured by us or the merchant may stop providing the goods and/or services.

14.6. Should you elect to close your account or your account is closed by us you should contact the merchant to amend any Regular Payment arrangement set up using your card number; as the merchant may stop providing the goods and/or services.

14.7. If we cancel a payment facility we will notify you as soon as possible afterwards except if we cancel a direct debit after being advised by the payee that no further payment is required or your account is closed.

14.8. You may alter, stop or cancel a payment facility at any time via the Up app or contacting us using our contact details.

14.9. If your card is cancelled, you must immediately destroy it for your protection.

14.10. If your access to the Up app is cancelled, we may refuse any transaction you initiate without giving any reason or advance notice to you.

14.11. If you cancel a direct debit we must receive your instructions at least 1 business day prior to the due date of the next payment, otherwise that payment may nevertheless be made. For direct debit cancellations we suggest that you also contact the merchant concerned.

15. Stopping or closing your account

15.1. You may request us to close your account only if it is in credit using the account in the UP app or by contacting us using our contact details

15.2. If a card is linked to your account, you must give us 14 days notice of your intention to close your account. You must destroy all cards issued on the account at the time of giving notice. This 14 day period is to allow for outstanding card transactions to be presented for payment before the account is closed.

15.3. We may close your account at any time, due to unsatisfactory conduct or for any other reason if we consider it necessary to prevent fraud or other losses to you or us, or to protect our legitimate interests, by giving you notice that is reasonable in all the relevant circumstances and paying to you any amount standing to the credit of your account. If you breach any of these terms and conditions or your account is opened with a zero balance and you do not operate your account within 180 days of opening, we may close the account without giving you prior notice.

15.4. We will give you notice as soon as possible after closing the account (unless we have previously given you notice) and will pay to you the amount standing to the credit of your account. This will not apply where we close any account opened with a zero balance and which has not been operated within 180 days of opening.

15.5. If your account is closed:

1. we may cancel any card linked to the account and disable your access to other payment facilities linked to the account;
2. you will be liable for any transactions that were not processed, or that occur, on the account (including, but not limited to, outstanding merchant purchases) at the time the account is closed;
3. you must pay to us on demand all unpaid fees and charges prior to closing the account;
4. we may require that any overdrawn or unpaid amounts be repaid to us before we agree to provide any other banking or financial products or services to you.

15.6. You should make arrangements for any automatic payments, direct debit, direct credit payments, interest payments or ongoing Pay Anyone Service Payments that are paid into or out of your account to be re-directed before the account is closed.

15.7. We reserve the right to withdraw any account from offer without notice.

15.8. We may place a stop on your account if:

• you are in breach of any of the terms and conditions;
• you have not provided us with information that we have asked you to provide;
• we receive notice of your mental incapacity, bankruptcy or death; or
• we become aware of any dispute which in our reasonable opinion has a bearing on the account.

If we place a stop on your account, you or anyone else will not be able to make any withdrawal transactions on the account or otherwise operate it. Credit transactions will still be allowed unless you specifically request credit transactions be stopped.

15.9. We are not liable for any loss or damage arising from placing a stop on your account.

15.10. If we receive notice of a dispute from a third party who claims a beneficial interest in the funds held in the account, we may at our discretion freeze the account until the dispute has been resolved to our reasonable satisfaction.

16. Account conversion

In the event we cease to provide, or allow you to access your account using, the Up app, we may convert your account to another type of deposit account with us by giving you reasonable prior notice of the conversion and giving you the terms and conditions that will apply to the new deposit account after the conversion takes effect.

17. Dormant accounts

17.1. If you do not operate your account for a number of years, your account may be deemed dormant.

17.2. We will contact you through the Up app or via SMS to notify you that your account is dormant, giving you the following options:

1. you can make a transaction to re-activate the account; or
2. you can close the account.

17.3. If you do not make a transaction to re-activate the account, your account will be closed and where required to do so by law, the balance of your account will be sent to the Commonwealth Government as unclaimed money.

18. Changes

18.1. Acting reasonably, we may change these terms and conditions at our absolute discretion at any time. If any law regulates that change, we will only make the change to the extent permitted by, and subject to, the requirements of that law.

18.2. Subject to the requirements of any law, you agree that we can give notice of changes to these terms and conditions and of any change that affects, any of the matters specified in this document (including changes to fees and charges and interest rates):

1. via the Up app;
2. in writing (including by notice in your statements of account);
3. by an advertisement published in a major daily newspaper published in Australia;
4. In such other manner as we reasonably consider is likely to come to the attention of as many account holders as possible; or
5. In accordance with clause 27.4.

18.3. The notice of change table sets out how much prior notice we will give you of changes, if prior notice is required.

If a Government charge payable directly or indirectly by you is introduced or varied, we will notify you by advertisement in the national media or local media or in writing unless the introduction or variation is publicised by the Government.

18.4. Notice of Change

Type of change	Minimum number of days notice
Any change that is an increase in fees or charges	30
A variation of the method by which interest is calculated A variation of the frequency with which interest is debited or credited A variation of the balance ranges within which interest rate apply	30
Increase your liability for losses relating to EFT transactions	30
Impose, remove or adjust the daily or periodical withdrawal limits applying to the use of an access method, an account from which we permit you to initiate EFT transactions, or electronic equipment	30
Change to the EFT conditions, BPAY conditions or Pay Anyone conditions (that is not caught by the above) Note: We will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the Up app, any systems it uses or connects to or individual accounts.	In time to comply with any applicable law. Otherwise in advance of the date the change takes effect.
Other changes to the terms and conditions (apart from a change in Government charges payable directly or indirectly by you)	No later than the day on which the change takes effect

19. Tax

19.1. When you open an account with us, you have the option of supplying us with your Tax File Number.

19.2. Providing your Tax File Number is not compulsory, but is advisable.

19.3. If you choose not to provide us with your Tax File Number, we are required to deduct withholding tax at the highest marginal tax rate plus the Medicare Levy, when you earn interest income of $120 or more a year.

19.4. If you are entitled to an exemption in relation to this tax you should advise us of your type of exemption and provide any supporting documentation we may require.

19.5. The above clauses 19.1, 19.2 and 19.3 do not apply if you are not a resident of Australia. We are required to withhold Australian non-resident withholding tax from interest income earned on your account at the prescribed rate, which is currently 10%.

20. Privacy

20.1. We are committed to ensuring your privacy is protected and understand your concerns regarding the confidentiality and security of personal information you provide to us. Our privacy policy in relation to the accounts and payment facilities to which these terms and conditions apply is available on our website at https://up.com.au/privacy.

21. If you have a complaint

21.1. We consider Internal Dispute Resolution (IDR) to be an important and necessary first step in the complaint handling process as it gives us an opportunity to hear when we do not meet our customers' expectations and address them genuinely, efficiently and effectively.

You can raise your complaint with us by contacting using our contact details.

21.2. If you are not satisfied with the response provided, you have the option of referring the matter to our Customer Advocate who will impartially assess your complaint, keep you informed of the progress and provide you with a response. You can contact the Customer Advocate via:

1. telephone - 1300 139 572 (+61 3 5485 7919) between 8.30am and 5pm (AEST/AEDT), weekdays.
2. email - customeradvocate@bendigoadelaide.com.au
3. post -- write to Customer Advocate, P.O. Box 480, Bendigo, VIC 3552

21.3. Alternatively (or following consideration by the Customer Advocate) you may refer your complaint directly to our External Dispute Resolution scheme (refer to clause 21.5).

Concerns or complaints about EFT transactions

21.4. If your complaint is in relation to an EFT transaction, we will advise you in writing of the procedures for investigating and handling the complaint.

1. If we are unable to resolve the complaint within 45 days, we will notify you of this fact, inform you of the reasons for the delay, provide you with monthly updates on the progress of your complaint and specify a date by which a decision can reasonably be expected (unless we are waiting for a response from you and we have told you that we require that response);
2. when we have completed our investigation of your complaint, we will promptly advise you of the outcome of that investigation, the reasons for that outcome including references to relevant clauses of the ePayments Code and, except where the complaint has been resolved completely in your favour, we will inform you of any further action you can take under the ePayments Code. Our advice will be in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us;
3. if on completion of our investigation we decide that your account has not been incorrectly debited or credited, or in the case of unauthorised transactions, that you have contributed to at least part of the loss occasioned by the unauthorised use, we will supply you with copies of any documents or other evidence relevant to the outcome of our investigation, including information about any logs or audit trails relating to the transaction and advise you whether there was any system or equipment malfunction at the time of the transaction (for example, if you don't protect your mobile phone by using a passcode or biometric lock it could contribute to the chance of unauthorised transactions);
4. if we conclude as a result of our investigation that your account has been incorrectly debited or credited we will promptly make adjustments to your account (including making adjustments to interest and charges) and notify you in writing of the amount by which your account has been debited or credited as a result;
5. if we decide to resolve your complaint in your favour, we may adjust your account accordingly within 7 business days of receiving the complaint and provide the information required by paragraph b and close the investigation. When we choose this course of action we are not required to comply with clause 21.5;
6. if we fail to observe the appropriate allocation of liability in accordance with the relevant clauses of the ePayments Code or fail to explain the reasons of any findings that you are liable by reference to relevant aspects of those paragraphs, or in any material respect we fail to observe the complaint investigation and resolution procedures set out in this clause or as required by the ePayments Code, and where such failure has contributed to a decision by us against you or delayed the resolution of your complaint, we may accept full or partial liability for the amount of the transaction which is the subject of your complaint.

Australian Financial Complaints Authority (AFCA)

21.5. We are a member of the Australian Financial Complaints Authority. You can contact AFCA at:

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

Telephone: 1800 931 678

Website: www.afca.org.au

Email: info@afca.org.au

The Australian Financial Complaints Authority is provided to you free of charge.

22. If you have changed your name, address or contact details

22.1. If you have changed your name, we will need to amend our records as soon as possible. Before amending our records, we will require evidence of your name change, such as a marriage certificate, birth certificate, decree nisi or dissolution of marriage, or certificate of registration of change of name.

22.2. If you have changed your address (home, business, or email, where relevant) or contact details, you must provide us with your new address or contact details as soon as possible through the Up app.

22.3. You should advise us of the details of all of your accounts so that all our records can be changed.

22.4. You must notify us through the Up app as soon as possible of any proposed or actual changes to your financial or legal status (including name changes, mergers, administration or receivership, schemes of arrangement, bankruptcies, liquidations, windings up, dissolutions or acting or failing to act in a manner which could result in any of these situations) or any other material changes that may affect or impact upon your use of your account or any payment facility or your ability to continue operating in a financially viable manner.

23. Banking Code of Practice

23.1. The bank is bound by the Banking Code of Practice.

23.2. The Banking Code of Practice requires us to draw your attention to the availability of general descriptive information concerning our banking services. This includes:

1. information about account opening procedures;
2. our obligations regarding the confidentiality of your information;
3. complaint handling procedures;
4. the advisability of you informing us promptly when you are in financial difficulty so that we may discuss your situation;
5. the advisability of you reading the terms and conditions applying to this banking service.

24. Financial Claims Scheme

24.1. The Financial Claims Scheme protects depositors through the provision of a guarantee on deposits (up to a cap) held in authorised deposit-taking institutions (ADI's) in Australia and allows quick access to their deposits if an ADI becomes insolvent. As such please note the following information:

1. You may be entitled to a payment under the Financial Claims Scheme in the event that we become insolvent.
2. Accessibility to the Financial Claims Scheme is subject to eligibility criteria.
3. Information about the Financial Claims Scheme can be found at www.fcs.gov.au.

24.2. The Australian Government has given notice that it is reviewing the application of the Financial Claims Scheme to accounts held by non-residents of Australia. This may result in the Financial Claims Scheme no longer applying to accounts held with us by overseas customers.

25. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

25.1. We are committed to complying with anti-money laundering and counter-terrorism financing regulations. To comply with these requirements we may:

1. require you to provide to us, or otherwise obtain, any additional documentation or other information;
2. suspend, block or delay transactions on your account, or refuse to provide services to you;
3. report any, or any proposed, transaction or activity to anybody authorised to accept such reports relating to AML/CTF or any other law.

26. Liability

26.1. Subject to any other provision of these terms and conditions, to the extent permitted by law, we are not liable to you for or in connection with:

1. any loss or damage you suffer as a result of using your account or a payment facility;
2. any delay or failure in processing a transaction on your behalf;
3. any transaction which is processed by us on your behalf;
4. any failure, malfunction, delay or error (for any reason) of any equipment, system or software (including, without limitation, the telephone, internet enabled device, software and telecommunications and ISP services you use to access an account or payment facility);
5. any unavailability or failure of a payment facility to accept instructions from you;
6. any failure of a card, passcode or PIN to permit you to access a payment facility;
7. any unauthorised access to, or disclosure of information relating to, your account through a payment facility; or
8. any other action taken or not taken in relation to your account or a payment facility.

27. Other

27.1. We may decide, at our discretion, the order in which payments will be processed.

27.2. We may give you a certificate about a matter in connection with an account. The certificate is sufficient proof of the matter, unless you prove the certificate is incorrect.

27.3. Notices and other communications for us may be:

1. sent via the Up app;
2. sent by post to our registered office;
3. delivered by any other means permitted by law.

27.4. Subject to the requirements of any law, notices and other communications for you may be:

1. sent via the Up app;
2. sent by email to your email address last notified to us;
3. sent by prepaid post or left at any address specified by you, or your residential or business address last known to us;
4. delivered by any other means permitted by law.

27.5. We may also give you notices and other communications by making them available electronically (for example, by publishing them on our website) and notifying you that we have done so and how you can obtain the notice or communication.

27.6. Enforcement expenses may become payable if you breach these terms and conditions. For instance, if you overdraw your account without our written permission we may take legal action to recover the debt. Any reasonable expenses we incur in recovering our debt will be payable by you and you authorise us to debit the amount of these expenses to your account.

Our rights under these terms and conditions

27.7. We may choose at any time to waive any of our rights under these terms and conditions. Subject to any applicable law, a waiver by us is not a change to, and does not reduce our rights under, these terms and conditions unless we give you written notice that it is a change to these terms and conditions.

27.8. Nothing in this agreement has the effect of excluding, restricting or modifying rights in the Australian Securities and Investments Commission Act or Competition and Consumer Act, which cannot be excluded, restricted or modified by agreement.

27.9. Part or all of any provision of these terms and conditions that is illegal or unenforceable will be severed from these terms and conditions, however the remaining provisions of these terms and conditions will continue in force.

27.10. We may assign or otherwise deal with our rights under these terms and conditions in any way we consider appropriate.

27.11. You agree that we may disclose any information or documents we consider desirable to help us exercise this right. You also agree that we may disclose information or documents at any time to a person to whom we assign our rights under these terms and conditions.

27.12. You should inform us promptly if you are in financial difficulty.

27.13. To the extent that the National Credit Code applies to these terms and conditions and:

1. that Code would otherwise make a provision of these terms and conditions illegal, void or unenforceable; or
2. a provision of these terms and conditions would otherwise contravene a requirement of that Code or impose an obligation or liability which is prohibited by that Code,

these terms and conditions are to be read as if that provision were varied to the extent necessary to comply with that Code or, if necessary, omitted.

When your credit rating could be affected

27.14. If your account(s):

1. becomes overdrawn without arrangements; and
2. remains overdrawn for more than 60 days after the end of any period we allow for you to repay the amount overdrawn,

then we may commence enforcement action and report your default to a credit reporting agency.