Important updates to your Queensland Country transaction and deposit accounts
We have made some changes to our Account & Access Facility Conditions of Use.
Details
We have made some changes to update our Account and Access Facility Conditions of Use, effective today, 27 March 2025.
What this means for you?
The Conditions of Use have been redesigned and rewritten to make them clearer, simpler, and easier to navigate and provide you detailed more information on operating your account and some of the new electronic payments’ facilities that will be made available to you in connection with your Queensland Country account. We have also included terms and conditions for our Mortgage Offset Account and our new Farm Management Deposit Account.
Read the summary of changes
Please take the time to read through the Summary of Changes, to understand what has changed. You can find the Summary of Changes and the updated Account and Access Facility Conditions below.
Changes we have made that have not commenced yet
A change contained in the New Conditions that has not yet commenced (and therefore does not yet apply to you) is section 8.52 which relates to Confirmation of Payee. Confirmation of Payee is an industry-wide initiative that provides an extra layer of protection for payments to a BSB and account number. It checks the account name, BSB and account number a payer has entered against the details held by the recipient’s bank and lets the payer know whether it’s a match.
Confirmation of Payee will be rolled out in Australia commencing 1 May 2025. However, until we advise you on a future date, you will not have access to the Confirmation of Payee feature when making a payment.
The reason we have included these conditions about Confirmation of Payee now in the New Conditions is because customers from other financial institutions might have access to Confirmation of Payee features from 1 May 2025, which means your account details could be used and disclosed for Confirmation of Payee purposes. For instance, your account name might be shown to these customers to verify that the account name they enter matches your account details before they proceed with a payment to you.
Any questions?
If you have any questions you can send us an email at info@queenslandcountry.bank.
For more information, please refer to the below documents: