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Rural Bank Farm Management Deposit Terms and

1. Variable rate Fixed rate DEBIT CARD Debit Card x x Bank Post be x ATM x x EFTPOS x x CHEQUES Cheque book x x Bank Cheque v ELECTRONIC ACCESS Internet Banking view only x v Phone Banking view only x v Internet Banking Full access v x Phone Banking Full access v1 x Electronic Funds Transfer EFT v1 v25 Direct Debit x x Direct Credits v3 x Bpay Al x Pay Anyone4 v x OVER THE COUNTER Staff assisted transfers v v5 Cash deposits v v5 Cheque deposits v v5 v Available x Not available 1 Minimum transaction amount is 1 000 You should consult your taxation advisor before deciding to withdraw from your variable rate FMD 2 A FMD deposit transferred from to another FMD provider must be sent via EFT to retain its taxation benefit 3 Minimum transaction amount is 1 000 4 Pay Anyone users require a security token to access this service 5 Transactions are usually only permitted at account opening or maturity Deposits are usually only permitted at account opening or maturity Withdrawals are usually only permitted at maturity From 1 January 2015 withdrawals may not be available for up to 31 days or until the next maturity date if sooner An interest rate reduction may apply Refer to clause 6 2 of the terms and conditions RURAL BANK 25 Section 10 Other Fees and Charges 10 OTHER FEES AND CHARGES No monthly account service fees or transaction fees apply to FMD accounts Other fees and charges list
2. 4 7 5 Real Time Electronic Funds Transfer cut off times If your real time electronic funds transfer request is received by 2 30pm CST on a business day your request will usually be processed and funds debited from your account on the same day Requests received after 2 30pm CST or on a non business day will usually be processed and debited from your account on the next business day The payment will in most cases be credited on the next business day although this can depend on the recipient s financial institution 4 7 6 Liability Staff Assisted transfers To the extent permitted by law and subject to any other provisions of these terms and conditions we are not liable for any loss or damage you suffer as a result of using the staff assisted transfer services or any delay omission or failure in respect to any payment Without limitation this includes if you request us to make a payment to an account held with another financial institution we are not liable for any loss or damage you suffer as a result of a any delay or failure to make a payment which results from a technical failure in the system we use to make a payment from your account with us to another financial institution and b any omission delay or failure on the part of the other financial institution in processing that payment If we debit your account we are not acting as your agent or the agent of another person We are not liable for any loss or da
3. RURAL BANK FARM ANAGEMENT M DEPOSIT TERMS AND CONDITIONS THIS DOCUMENT CONTAINS TERMS AND CONDITIONS FOR THE FOLLOWING RURAL BANK FARM MANAGEMENT DEPOSIT ACCOUNTS VARIABLE AND FIXED TERM Effective Date 08 June 2015 Issuer of the Products Rural Bank Limited ABN 74 083 938 416 Australian Financial Services Licence AFSL 238042 Registered Office Level 6 80 Grenfell Street Adelaide SA 5000 Bray is a registered trademark of Bray Pty Ltd ABN 69 079 137 518 Bank Post is a trademark registered or otherwise of the Australian Postal Corporation ABN 28 864 970 579 Community Bank is a registered trademark of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 Products distributed by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879 as sales agent for Rural Bank Limited IMPORTANT INFORMATION YOU SHOULD READ BEFORE PROCEEDING The Rural Bank Farm Management Deposit Terms and Conditions Terms contain important information you should consider before making a decision to acquire or continue to hold a Rural Bank Farm Management Deposit Please read it carefully We recommend that you compare products available in the marketplace and select a product that best suits your individual needs You should keep the Terms in a safe place as it may be a useful reference guide in the future Please contact us if you require further information or if you have any questions Statements made
4. these special terms and conditions apply to your Rural Bank FMD Account A breach of these special terms and conditions will result in the deposit or some of the deposit of your Rural Bank FMD Account not qualifying as a FMD You must read this section very carefully To the extent that you control these it is your responsibility to ensure the following special terms and conditions are complied with a You must be a primary producer when the deposit is made b Your Rural Bank FMD Account can only be opened in your name and cannot be held jointly or otherwise with any other person c The deposit must not be made i by a trustee of a trust estate on behalf of a beneficiary unless the beneficiary is presently entitled to a share of the income of the trust estate and is under a legal disability or ii otherwise by a entity in his or her capacity as a trustee d Your rights as depositor in respect to your Rural Bank FMD Account are not transferable to another entity e A deposit made to your Rural Bank FMD Account must be 1 000 or more f You can own more than one FMD Account and can own FMD Accounts with different FMD providers but the sum of the balances of all your FMD Accounts must not be more than 400 000 4 Rural Bank Farm Management Deposit Terms and Conditions g A charge or other encumbrance must not be created over your Rural Bank FMD Account as security for any amount payable by you or any other en
5. 25 00 Applies per corporate cheque you request to be Key ring sized personal security token Applies per Includes repurchased or stopped 15 00 security token ordered GST If the voucher cheque or payment search trace reveals a bank error the fee will be waived Special cheque clearance Applies per cheque for which you have requested special clearance fast clearance when deposited 15 00 26 Rural Bank Farm Management Deposit Terms and Conditions gt RURAL BANK Rural Bank Limited ABN 74 083 938 416 AFSL 238042 Postal Address PO Box 3660 Rundle Mall SA 5000 Registered Office Level 6 80 Grenfell Street Adelaide SA 5000 Telephone 1300 660 115 Facsimile 08 7109 9303 service ruralbank com au www ruralbank com au This document has been prepared without taking into account your personal circumstances objectives financial situation or needs Individual circumstances may vary and special legislative requirements must be adhered to You should consult your taxation advisor Terms conditions fees and charges and lending criteria may apply Full details are available by phoning our Customer Service Centre on 1300 660 115 online at www ruralbank com au or by visiting your local branch Products are issued by Rural Bank Limited ABN 74 083 938 416 AFSL 238042 Registered office Level 6 80 Grenfell Street Adelaide SA 5000 080615
6. 8 7109 9207 or by fax on 61 8 8121 0106 Any unreasonable delay in notifying us may expose you to liability for losses incurred as a result of unauthorised access or transactions Liability for unauthorised EFT transactions is set out in section 4 5 2 You are not liable for any unauthorised transactions which could have been prevented during any period of unavailability of all these contact points as long as you notify us within a reasonable time of a contact point becoming available When you report the loss theft or unauthorised use of your PIN or password you will be given a notification number which you should retain as evidence of the date and time of your report You should confirm any verbal notification via secure email as soonas possible 4 7 Staff assisted transfers There are three staff assisted transfer options Internal account External account Real time EFT 4 7 1 Internal account staff assisted transfers An internal account staff assisted transfer refers to the transfer of funds from your FMD account to another Bendigo Agribusiness account or Rural Bank account held by you or someone else To request an internal account staff assisted transfer of funds please visit your nearest Bendigo Bank branch You are required to provide us with the following information together with such other information as we may require at the time the amount of the transfer details of the account from w
7. If you wish to roll all of your fixed rate FMD over for the same term you do not need to do anything If your fixed rate FMD is renewed and the interest rate that is applied is different to the indicative rate stated in your pre maturity letter you will receive confirmation from us of your new interest rate and term If you instruct us to repay funds from your fixed rate FMD Account that request will be processed on the maturity date thus reducing the balance of your fixed rate FMD Account Funds will be repaid in accordance with your instructions on the maturity date RURAL BANK 21 In the absence of acceptable instructions regarding the application of the proceeds of your account at maturity your fixed rate FMD Account will be rolled over into a new fixed rate FMD Account at our prevailing fixed rate FMD interest rate on the maturity date of the amount of the proceeds and for the same term as your original FMD Account You have ten calendar days from the maturity date to either withdraw funds or add funds If you withdraw funds within ten calendar days after the maturity date that request for repayment will be processed on the day of receipt thus reducing the balance of your fixed rate FMD Account Funds will be repaid in accordance with your instructions on that day We will apply the interest rate applying to the particular term deposit and term deposit term you have chosen on maturity date and not necessarily the indicativ
8. Minimum notice Method of notice Introducing removing or adjusting a daily transaction limit or other periodic transaction limit that apples to the use of access method for example your card an account from which we permit you to initiate EFT transactions or electronic equipment that affects your account 20 days before the charge s take effect In writing Changing EFT conditions BPaY conditions or Pay Anyone conditions that is not captured above that affect your account In time to comply In the manner with any applicable required by any law otherwise applicable law or if in advance of there are no such the date the requirements in a changes s take manner which is effect likely to come to the attention of as many account holders as possible which may include However we will not give you advance notice of a change necessitated by an immediate need to restore or maintain the security of the system or individual accounts by notice on or with your statement of account by notice on ATMs or in branches or by an advertisement in a major daily newspaper After you open a Rural Bank FMD we will notify you of any material changes to matters specified in or of significant events affecting matters specified in the Terms whilst you hold the Rural Bank FMD Some specific matters are covered in the previous table We will notify you of other such information prior to
9. PCO EE DOIN iaee 1 DEFINITION OF TERMS terccresrecersnsecnececesnaneerscerearrartcanertrenncatenesssteansntee 2 SECTION 1 IMPORTANT FARM MANAGEMENT DEPOSIT FMD INFORMATION 1 1 What is a farm management deposit s sussusnusnuununnnnnnnunnunnunna 4 1 2 Special FMD terms and conditionS s ss ssssuss1ss1ss1ununununnunnunnunns 4 1 3 Eligibility for tax benefit ssnussusnusnunnunnnnnonunnunnannnnnunnnnnnnnnnnnnanna 4 1 4 Repayment of deposit within first twelve months 5 1 5 Repayment upon death SECTION 2 GENERAL INFORMATION 0 c cssssseseseseessenenetees 6 DEG ONE AG EIN A a n nn 6 2 2 About us 6 2 3 Your privacy and Confidentiallty cscscscssssesssseessseseeeeeeeeees 6 2 4 About the terms and CONGItIONS cscscscseseeeeeeeeeeeseeeneeeeeees 6 2 5interest rate risk cececrcscnanaeanenanenasenanceavererevararaseraccerenanananacarerarecesererer 6 2 6 General risk specific to FMD accounts s s s ssesssssunnnnnnnnnnnnnnnnn 6 2 7 Fees and charges 6 2 8 Interest rates that May apply c cscscscseseseeeseesseneeeneneneeeeeeeees 6 2 9 Account Statement aaa a 6 2 10 Communicating with YOU sssssussuusunnunnunnununnunnnnnnnnunnunnunnnnnnnnnnnnn nnn 7 2 11 Communicating with US s sssussussusnunnunnunnnnunnunnunnunnunnunnnnnnnnnnnnnann nnn 7 2 12 Changes to the Terms and Conditions and CEEE e EA OSU enaa Annn 7 2 13 Other Important Terms ss ssssussusnusn
10. Recipient 10 business days to establish that they are entitled to those funds If the Unintended Recipient does not establish that they are entitled to the funds the Receiving Financial Institution will withdraw the funds from the Unintended Recipients account If you made the report after 7 months the Receiving Financial Institution may try to get the consent of the Unintended Recipient to return the funds If the Unintended Recipient consents the Receiving Financial Institution will withdraw those funds from the Unintended Recipients account ii Where the Unintended Recipient does not have sufficient funds available in their account the Receiving Financial Institution will use reasonable endeavours to retrieve the funds from the Unintended Recipient d Where the Receiving Financial Institution withdraws the funds from the Unintended Recipients account the Receiving Financial Institution will return the funds to us We will then return the funds to you We are not required to backdate funds to your account received from an Unintended Recipient nor are we required to adjust interest applied to your account e If the Receiving Financial Institution is not satisfied that a Mistaken Internet Payment has occurred the Receiving Financial Institution may try to get the consent of the Unintended Recipient to return the funds f You will be liable for losses arising from the Mistaken Internet Payment if the Receiving Financial Instituti
11. an account will be opened in accordance with your instructions as appearing on the completed application We will issue you with an account acceptance letter following the opening of your account We are not obligated to accept your account application and may refuse your account application at our discretion 3 3 Identification Federal Government legislation requires Rural Bank to verify the identity of all account holders signatories and agents All account holders signatories and agents must satisfactorily meet Rural Bank s Customer Identification Process Rural Bank s Customer Identification Process is detailed in the account application process Rural Bank reserves the right to request documents in addition to those detailed in the account application process 3 4 Joint account FMD Accounts cannot be opened in joint names 3 5 Authorising someone to act on your account You may nominate someone else to be an authorised signatory on an account Please note authorised signatories must be at least twelve years of age i An authorised signatory is someone you appoint to U access or operate your account however they are not a legal owner i e they are not a joint account holder Please remember you are liable for all transactions initiated by an account signatory An authorised signatory is able to use the account in the same way you can including making withdrawals transfers and performing other actions that ma
12. authorised user to observe these terms and conditions You may cancel the authority of an authorised user to access or operate a nominated account through Internet Banking and Phone Banking at any time via a written request If you give us notice to cancel your access or your authorised user s access you remain bound by these terms and conditions and any instructions that have already been given for transactions made via Internet Banking or Phone Banking notwithstanding that your access or your authorised user s access has been cancelled You may request in writing a maximum daily withdrawal limit to apply to your authorised user s You can also specify no Pay Anyone limit or view only access 12 Rural Bank Farm Management Deposit Terms and Conditions 4 2 3 Access Rural Bank Internet Banking should only be accessed via our website at www ruralbank com au Accessing Internet Banking from another source may cause you a loss To use Rural Bank Internet Banking or Phone Banking services a you and any authorised user must be registered to do so and must be an Australian citizen New Zealand citizen residing in Australia or permanent resident b the nominated accounts must be Rural Bank accounts c the person wishing to use the service must be registered with us as the account holder or as an authorised signatory for the nominated accounts or otherwise have authority acceptable to us to access or conduct
13. in the Terms do not constitute investment advice We recommend you seek independent financial advice To the extent that general advice about financial products is provided in the Terms you should note that the advice has been prepared without taking into account your objectives financial situation or needs because of this you should before acting on the advice consider the appropriateness of the advice having regard to your objectives financial situation and needs individual circumstances may vary and special legislative requirements must be adhered to You should consult your taxation advisor you should read these Terms and consider the risk factors and other information contained in the Terms before deciding whether to acquire our Rural Bank Farm Management Deposit product FINANCIAL CLAIMS SCHEME Deposits with Rural Bank are covered by the Financial Claims Scheme The account holder may be entitled to payment under the Financial Claims Scheme Payments under the Scheme are subject to a limit for each depositor Information about the Financial Claims Scheme can be obtained from the APRA website at http www apra gov au and the APRA hotline on 1300 55 88 49 EMERGENCY CONTACT NUMBERS Lost stolen or unauthorised 1300 651 839 during normal use of Internet Banking and business hours Phone Banking passwords 1800 035 383 after hours Contents IMPORTANT INFORMATION YOU SHOULD READ FREE CORRE
14. of the transaction g 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 h Alternatively if we decide to resolve your complaint in your favour we may adjust your account accordingly within seven business days of receiving the complaint and provide the information required by section 2 15 1 e and g above and close the investigation When we choose this course of action we are not required to comply with sections 2 15 1 a b c and f For more information about resolving complaints contact our Customer Service Centre on 1300 660 115 or access our website at www ruralbank com au RURALBANK 9 Section 3 Opening an FMD Account 3 OPENING AN FMD ACCOUNT 3 1 Eligibility Please refer to section 1 2 for specific eligibility requirements 3 2 Your completed application form To open an account you are required to complete a FMD Application Form indicating the required account An opening deposit is required and you can make an opening deposit via transfer from another financial institution bank account or by posting a cheque You should not apply for an account until you have had the opportunity to read and understand the Terms If we accept your application
15. on demand over the counter To arrange a bank cheque your request must be made in writing You can submit a request at your nearest branch or by sending the request to us as outlined in section 2 1 If we agree to your request we will post the bank cheque to you Requests for bank cheques must be received by 2pm CST on a business day in order for the bank cheque to be in the post that same day Any requests made after 2pm CST will be posted on the next business day Bendigo and Adelaide Bank Limited and Community Banks and other agents we appoint may receive collect and disclose to each other personal information you provide us that relates to your FMD account and your use of your account Both they and we may use that information for purposes relating to administration of your FMD account and also for direct marketing to you business planning product development and customer data analysis 4 1 2 Depositing cheques into your FMD The proceeds of cheques and other instruments deposited are not available until cleared and paid which usually takes a minimum of three business days A cheque must be deposited within 15 months from the date the cheque was drawn or it will become stale and is no longer valid We may at our discretion debit the amount of any cheque deposited into your FMD account that is later dishonoured 4 1 3 Withdrawals from your Variable Rate FMD You should consult your taxation advisor before deciding to withd
16. on one or more of your accounts using our Internet Banking service id LL You must be registered for Internet Banking in order to access electronic statements 2 10 Communicating with you This section deals with notices certificates and other communications sent by us to you that apply to our accounts and payment products We may give you a notice certificate or other communication personally or leave at any address specified by you or your residential or business address last known to us by post by facsimile by email including secure email or by publication in a national or local newspaper on our website or by any other means permitted by law Notices or other documents are deemed to be received by you where given personally on the date of service where posted on the date it would have been delivered in the ordinary course of post where sent by facsimile email or other electronic means on the date on which the machine from which it was sent produces a report indicating that the notice or other document has been sent and in the case of notices published in a newspaper or on our website on the date of the first publication 2 11 Communicating with us This sections deals with notices certificates and other communications sent by you to us that apply to your Rural Bank FMD If a communication is given by you it must be signed by you Notices for us should be sent to our mailing add
17. possible after closing the account We may also close the account after giving you notice that is reasonable in all the relevant circumstances In either case we will repay the amount of any credit balance to your nominated account including interest to the date of closure 6 2 Closing or repayment from a fixed rate FMD prior to maturity From 1 January 2015 should you wish to withdraw or transfer your funds after the grace period your funds will be available 31 days after we receive your request or at maturity whichever occurs sooner This does not apply in cases of proven hardship as defined by us Your request can be received at a branch during opening hours by contacting us on 1300 660 115 or via a secure email from Rural Bank Internet Banking Any funds withdrawn after the grace period and prior to maturity will be subject to an interest rate reduction refer to clause 6 2 Your funds will be paid or transferred on the business day after the expiry of the 31 days or the next maturity date as applicable If we agree to any early repayment from a fixed rate FMD we are entitled to reduce the interest that is paid or payable on your account If an early repayment is agreed to we will apply the Interest Earning at Call Deposit interest rate as at the account opening or reinvestment date to determine the interest payable on the amount repaid If you withdraw part of your account balance prior to maturity we will effect an int
18. that you or your authorised user have not contributed to the loss the fraudulent or negligent conduct of our employees agents or companies involved in networking arrangements or of merchants who are linked to the EFT system or their agents or employees any component of an access method that is forged faulty expired or cancelled unauthorised transactions occurring after you have notified us as required by these terms and conditions that the security of a PIN or access ID has been breached transactions that require the use of a PIN or access ID that forms part of your access method and that occurred before you have received that PIN or access ID including a reissued or replacement PIN or access ID or the same transaction being incorrectly debited more than once to the same account b You are liable where we can prove on the balance of probability that you or your authorised user have contributed to the losses in any of the following ways i through you or your authorised user s fraud ii by you or your authorised user voluntarily disclosing the PIN to anyone including a family member or friend iii by keeping a record of your access ID and PIN without making any reasonable attempt to protect the security of the records on the one article or on several articles so that they are liable to loss or theft simultaneously iv where we permit you or your authorised user to select or change a PIN b
19. to be transported to the place where they are first to be milled or processed Rural Bank equipment means electronic equipment controlled provided by or provided on behalf of Rural Bank to facilitate EFT transactions Rural Bank system means an electronic system communications system or software that is controlled provided by or provided on behalf of Rural Bank to facilitate EFT transactions second level authentication means an additional level of authentication that can be used in conjunction with your access ID and PIN There are three commonly used forms of authentication What you know This is commonly your access ID and PIN for Internet Banking first level The second form of authentication is What you have Security tokens have been introduced to secure this area A security token generates a random code after activation Each time you authenticate logon you have to provide a new code from your security token This ensures that What you have provides that extra security A potential third level of authentication is what you are biometrics fingerprints retina scans etc secure email means a method of communication between you and us whereby an email is sent to or from your Internet Banking session Secure emails can only be sent or received once logged into Rural Bank s Internet Banking security token means a device which generates a onetime code for use as a se
20. transactions on the nominated accounts d we must have received no notification or we must be unaware that a nominated account is under any dispute of any kind with any other party or entity and e we must have received no notification or we must be unaware that an application for bankruptcy or liquidation has been filed either by you or issued or lodged by another person or entity We will make reasonable efforts to ensure the availability of Internet Banking and Phone Banking during the hours we have specified from time to time and to ensure that information we make available to you via Internet Banking and Phone Banking is correct We may block access to Internet Banking and or Phone Banking at any time without notice if we believe either service is being misused by you or your authorised user or is used without your authority We recommend the purchase of a security token to ensure the most secure form of access to Internet Banking Where your access has been blocked due to fraudulent or suspicious activity you must take steps to ensure your computer is updated to the latest available operating system and professional security software before seeking reinstatement and provide proof of the same 4 2 4 Access expiration If you do not use your Internet Banking access ID PIN and where applicable security token authentication key to login to Internet Banking for 180 continuous days your PIN may expire and will need to be res
21. vA x v1 account held with another financial institution or another third party with a Rural Bank account via Pay Anyone Schedule once off X vl x v1 or regular transfers in advance weekly fortnightly or monthly and up to 12 months in advance Pay your bills via BPayY x A x v1 Review your account X v1 x v1 transaction history including the date type e g BraY or cheque withdrawal and the amount of the transaction Search for a particular x vi x v1 transaction Send or receive Secure v v v v Mail messages to and from Rural Bank Change your Internet v v v v Banking or Phone Banking PIN View print or save ve v x x electronic statements and opt in or out of receiving paper statements v Available x Not available 1 Minimum transaction amount is 1 000 A FMD deposit transferred from to another FMD provider must be sent via EFT to retain its taxation benefit RURAL BANK 11 Note Internet Banking and Phone Banking is real time however some transactions from third parties may not be listed on the day you make the transaction All transactions are subject to available funds in the nominated account at the time of transaction and any minimum maximum transfer restrictions ALON From time to time Rural Bank may post information regarding Internet Banking on the Rural Bank website or the logon page for Internet Banking This may include Notices regarding Internet Banking ou
22. your authorised user to transfer funds directly to any account at any financial institution within Australia that is identified by a valid BSB number and account number You or your authorised user can only transfer funds using the Pay Anyone service if you or your authorised user has access to Rural Bank Internet Banking Pay Anyone allows you to transfer money directly to another eligible account at any participating financial institution within Australia providing you know the BSB number and account number diL In most cases you will find that Pay Anyone is generally cheaper than a corporate cheque or bank cheque and is safer than carrying cash id LL Pay Anyone is not available through the Phone Banking service Once activated you or your authorised user can arrange to set up regular weekly fortnightly monthly and once off and future dated transfers to any account at any financial institution within Australia that is identified by a valid BSB number and account number Refer to the online Help function for more information id LL 4 4 1 Registering and deregistering for the Pay Anyone service You can register for the Pay Anyone service by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 Upon registration you are required to obtain a security token and set a daily Pay Anyone limit noting that a maximum daily limit amount may be set by the Bank at any time You can disable or deregi
23. 300 651 839 Phone Banking has the same meaning primary producer means a An individual who carries on a primary production business in Australia other than as a trustee of a trust estate b A partner not being a company in a partnership that carries on a primary production business in Australia or c A beneficiary not being a company who is presently entitled to a share of income of a trust estate where the trustee carries on a primary production business in Australia primary production business means where you carry on a business of a cultivating or propagating plants fungi or their products or parties including seeds spores bulbs and similar things in any physical environment b maintaining animals for the purpose of selling them or their bodily produce including natural increase c manufacturing dairy produce from raw material that you produced d conducting operations relating directly to taking or catching fish turtles dugong b che de mer crustaceans or aquatic molluscs e conducting operations relating directly to taking or culturing pearls or pearl shell f planting or tending trees in a plantation or forest that are intended to be felled g felling trees in a plantation or forest h transporting trees or parts of trees that you felled in a plantation or forest to the place i where they are first to be milled or processed or ii from which they are
24. 5 EFT transaction Liability We warrant that we will comply with the requirements of the ePayments Code This section applies to EFT transactions 4 5 1 Liability for authorised transactions PIN generated transactions a You are responsible for all transactions carried out using an access ID or PIN by you or by anyone else with your knowledge and consent b If Rural Bank equipment or a Rural Bank system malfunctions after having accepted your instructions or fails to complete the transaction in accordance with your instructions resulting in loss to you of some or all of the amount of a transaction we will correct that loss by making any necessary adjustments to your account including an adjustment of any interest or fee If you consider that you have incurred additional losses as a consequence of the malfunction you may make a claim for any such loss c If you are aware or should have been aware that the Rural Bank equipment or Rural Bank system was unavailable for use or was malfunctioning then our responsibility will be limited to the correction of errors in your account and the refund of any fee imposed as a result and d We may withdraw electronic access to your account without prior notice to you in the event of any Rural Bank equipment or Rural Bank system malfunction 4 5 2 Liability for unauthorised transactions a You are not liable for losses arising out of unauthorised transactions where it is clear
25. If the Pay Anyone payment instruction is received The payment will usually be received Monday to Friday before 7 00pm Victorian time On the next business day Monday to Friday after 7 00pm Victorian time In two business days time On a Saturday Sunday or public holiday In two business days time Pay Anyone transfers may take longer to be credited if you or your authorised user tells us to make a Pay Anyone transfer on a Saturday Sunday public holiday or any other non business day or if the financial institution does not process a payment as soon as they receive its details The cut off times are also displayed during your Internet Banking session on the payment screens 4 4 8 Liability for mistaken payments unauthorised transactions and fraud You must notify us immediately if you or your authorised user becomes aware that you may have made a mistake or your authorised user becomes aware that they may have made a mistake when instructing us to make a Pay Anyone transfer except in relation to the Pay Anyone transfer amount refer to section 4 4 5 for details if you or your authorised user did not authorise a Pay Anyone transfer from your account if you or your authorised user believes a Pay Anyone transfer was not processed in accordance with your or your authorised user s instructions including delays or if you or your authorised user think you or your authorised user have been fra
26. a result of one or more transfers from another FMD provider may be taken to be made when the deposit was made with the first FMD provider provided certain criteria are met For more information contact our Customer Service Centre on 1300 660 115 or email service ruralbank com au Withdrawals made twelve months after the date of deposit for which a deduction was claimed are considered to be assessable income The withdrawal forms part of the instalment income for the instalment period under the Pay As You Go system Interest earned on an FMD Account is assessable in the year that it is earned 1 4 Repayment of deposit within first twelve months If you withdraw all or part of the balance of your Rural Bank FMD Account within twelve months of the date it was deposited the amount repaid will not and will never have been taken to be part of a FMD for the purposes of the FMD scheme unless a the repayment is required as a result of your death or bankruptcy b the repayment is the result of a written request by you to transfer all or part of your Rural Bank FMD Account to another FMD provider or c the repayment is required due to circumstances specified in regulation 7 of the Income Tax Farm Management Deposits Regulations 1998 relating to repayment in the event of a natural disaster exist Any subsequent deposit made by you or on your behalf in the financial year in which the repayment is made is taken never to have be
27. account or all losses incurred on any accounts that you and we had not agreed could be accessed using the access method RURAL BANK 19 e Where we cannot prove you were liable under sections 4 5 2 ii and a PIN or access ID was required to perform the unauthorised transaction you are liable for the least of i 150 or ii the balance of those accounts including any prearranged credit which you and we have agreed may be accessed using the access method or iii the actual loss at the time we were notified where relevant that the security of the codes that form part of the access method has been breached excluding that portion of the losses incurred on any one day which exceed any applicable daily withdrawal or other periodical withdrawal limits f You authorise us to debit any amount for which you are liable under section 4 5 2 to your account 4 6 Protecting your access ID password and security token The security of your access ID password PIN and security token is very important You may be liable for unauthorised transactions to which you contribute by not keeping your password PIN and security token secure For EFT transactions subject to section 2 12 section 4 5 governs your liability You must ensure that you keep your password PIN and security token secure and protected do not tell anyone your PIN or password do not record your PIN anywhere in electronic or written form do not selec
28. ally be processed and debited from your account on the same day Requests received after 2 30pm CST or on a non business day will usually be processed and debited from your account on the next business day The payment will in most cases be credited on the next business day although this can depend on the identity of the recipient s financial institution 4 7 4 Real Time Electronic Funds Transfers A real time electronic funds transfer refers to a transfer of funds that is sent real time also referred to as a real time gross payment or on the same day to an account held with another financial institution within Australia Not all financial institutions can accept real time payments so it is advisable to seek confirmation from the financial institution to which the funds are being sent All real time electronic funds transfer requests must be made in writing and forwarded to the address outlined in Section 2 1 of this document You are required to provide us with the following information together with such other information as we may require at the time the account details for the account from which the funds are being transferred from a valid BSB number for the financial institution to which the funds will be transferred a valid account number and account name for the account to which the funds will be transferred the amount of the transfer and valid signature s to authorise the transaction
29. art of a FMD from another FMD provider to preserve the taxation benefit the principal invested must be transferred via EFT idIL To enable this process you will first need to open an FMD Account with us with a 0 balance 1 1 What is a Farm Management Deposit The FMD scheme was established by the Income Tax Assessment Act 1997 It is designed to allow primary producers to set aside pre tax income in profitable years to establish cash reserves and help meet costs in less profitable years It enables the management of exposure to seasonal fluctuations and adverse economic events The FMD scheme allows primary producers to deduct the amount of any deposit to a FMD Account from their assessable income for the income year in which the deposit is made Withdrawals made from a FMD Account are then subject to tax in the year in which they are made To be eligible for the FMD scheme and to maintain FMD status primary producers and deposits must meet the criteria specified in the Income Tax Assessment Act 1998 and those outlined in these terms and conditions For further details on eligibility criteria refer to the Farm Management Deposits Law or visit the Department of Agriculture Fisheries and Forestry website at www daff gov au 1 2 Special FMD Terms and Conditions Federal Law states that the following special terms and conditions must apply to your FMD Account for it to qualify as a FMD for the purposes of the FMD scheme Consequently
30. authorised users are suspected of acting ina fraudulent manner 4 3 8 Cut off times The following table outlines the cut off times and payment dates for Bray payments If the Beay instruction is received The payment will in most cases be treated as having been made Monday to Friday before 5 00pm Victorian time On the day you made the payment Monday to Friday after 5 00pm Victorian time On the next business day On a Saturday Sunday or public holiday On the next business day Bray payments may take longer to be credited to a biller if you or your authorised user instructs us to make a BPAY payment on a Saturday Sunday public holiday or any other non business day or if the biller does not process a payment as soon as they receive its details The cut off times are also displayed during your Internet Banking session 4 3 9 Liability for mistaken payments unauthorised transactions and fraud a You must tell us immediately if you or your authorised user become aware of any delays or mistakes in processing a BPAY payment you or your authorised user did not authorise a BPAY payment that has been made from your account or you or your authorised users think that you or your authorised user has been fraudulently induced to make a BPaY payment b We will attempt to rectify any such matters in relation to your BpaY payment in the way described in this section If a BPAY payme
31. cond level of authentication in Internet Banking There are two models currently available the Vasco One Touch Security Token and the Vasco Professional Security Token These authentication devices can be attached to your logon or to payment facilities variable rate FMD means our variable rate Farm Management Deposit Account we means Rural Bank RB Limited ABN 74 083 938 416 AFSL Number 238042 and its successors and assigns and our and us have a corresponding meaning and website means our website www ruralbank com au you means the person or persons in whose name the account is to be opened as evidenced by the account application form and your has a corresponding meaning A reference to a the singular includes the plural and vice versa b a document includes any replacement or variation of it c a thing includes the whole and each part of it and d a law means common law equity or statutory laws which in the case of statutory laws include any instruments made under them and amendments to and replacements of them RURALBANK 3 Section 1 Important Farm Management Deposit FMD Information 1 IMPORTANT FARM MANAGEMENT DEPOSIT FMD INFORMATION The taxation implications of investing in a FMD Account U depend on your individual circumstances You should consult your taxation advisor before deciding to invest in a FMD Account When transferring all or p
32. d by or in conjunction with any person using your PIN or access ID or the PIN or access ID of your authorised user or e any unauthorised access to your information transmitted by us through Internet Banking or Phone Banking in relation to a nominated account You acknowledge and accept that Internet Banking and Phone Banking may only display transactions and balances current as at the previous business day 4 2 8 Cancelling your Internet Banking and Phone Banking access You can cancel your or your authorised user s Rural Bank Internet Banking and or Phone Banking access by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 Any payments you have requested to be made after we receive notice of such cancellation may not be made Note Previously scheduled payments may already have been processed overnight 4 2 9 Security Tokens A security token is a key ring sized device that generates a random six digit number or authentication key which you use in conjunction with Internet Banking to reduce the chance of an unauthorised user accessing your account A security token is mandatory for access to the Pay Anyone adding a new payee Internet Banking services Using your security token with this service provides the following protection When a security token is activated for This will prevent an unauthorised user An authentication key from your security token will be
33. day they are received by us and if you add funds to your account on or before the maturity date the funds will be credited to your fixed rate FMD on the maturity date or in the event of a fixed rate FMD maturing over a weekend or public holiday on the next business day The balance of the new fixed rate FMD Account will be the increased balance The interest rate applicable to the new fixed rate FMD Account will apply to the increased balance from the date the additional funds are credited to your account If all or part of your fixed rate FMD is immediately reinvested as a fixed rate FMD with us the reinvestment does not involve the repayment of the FMD Account or the making of anew FMD Account for taxation purposes 22 Rural Bank Farm Management Deposit Terms and Conditions Section 6 Closing an account 6 CLOSING AN ACCOUNT 6 1 Closing your variable FMD accounts and ending fixed FMD accounts at maturity You can close your Rural Bank variable FMD by sending us a secure email via Internet Banking by visiting your nearest branch or by contacting us on 1300 660 115 Your Rural Bank fixed rate FMD terminates on the maturity date For the options available to you at maturity please refer to section 5 If your account is not operated in accordance with the account terms and conditions or other operating instructions it may at our discretion be closed as soon as we become aware of the breach We will give you notice as soon as
34. ded Recipient Unintended Recipient means the recipient of funds as a result of a Mistaken Internet Payment 4 4 10 Incorrect account number a When we process your Pay Anyone transfer we process the Pay Anyone transfer based on the BSB and account number you provide WARNING Some financial institutions do not cross check the account number with the account name which may lead to your payment being placed into the wrong account if you enter an incorrect account number You must ensure that the account number is correct We will not be liable for any loss as a result of you entering the wrong account number b If your Pay Anyone transfer is to another financial institution your Pay Anyone transfer may also be processed on the BSB and account number provided as not all financial institutions cross check account numbers and names Example 1 You want to send a Pay Anyone transfer to Mr Citizen s account being BSB 001 012 Account Number 123456 however you type in BSB 001 012 Account Number 123465 the payment will be made into account number 123465 instead of Mr Citizen s account Example 2 You want to send a Pay Anyone transfer to Mr Citizen s account being BSB 001 012 Account Number 123456 however you type in BSB 001 021 Account Number 123456 the payment will be made into account number 123456 at BSB 001 021 instead of BSB 001 012 c It is vital that you include the correct account number and BSB 4
35. e 2 4 About the terms and conditions The terms and conditions for Rural Bank Farm Management Deposit and the methods of accessing those accounts are contained in this document We encourage you to read the Terms and ensure you understand them 2 5 Interest rate risk An interest rate risk applies to all Rural Bank Farm Management Deposit FMD accounts It is important that you consider this risk before making a decision to apply for any of these accounts as it may affect your decision 2 5 1 Variable interest rates Variable interest rates apply to Rural Bank variable rate FMD accounts We can vary these interest rates at any time This means that the rate of interest paid on an account may fall or increase We base our decision to vary interest rates on a number of factors some of which are beyond our control e g changes by the Reserve Bank of Australia to the official cash rate or changes to market rates generally Those rates themselves may be affected by external factors 2 5 2 Fixed interest rates Fixed interest rates apply to Rural Bank fixed rate FMD accounts This means that the interest rate for the term is fixed at the start of the term Should market interest rates change during the term of your Rural Bank fixed rate FMD the interest rate on your Rural Bank fixed rate FMD will not change i e increase or decrease 6 Rural Bank Farm Management Deposit Terms and Conditions 2 6 General risk specific to FMD acco
36. e in this table Introducing or increasing 30 days before In writing press fees and charges other the fee s and or advertisement or than a government charge s takes publication on our charge that affect your effect website account Introducing or varying Before the In writing press government charges if variation s takes advertisement or not publicised by the effect publication on our government in which website case we will notify you separately that affect your account Varying the method 30 days before the In writing press by which interest variation s takes advertisement or is calculated or the effect publication on our frequency which it is website credited that affects your account Before or on the date the variation s takes effect Varying an interest rate that affects your account In writing press advertisement or publication on our website Introducing or increasing 30 days before In writing press fees and charges other the fee s and advertisement or than a government or charge s take publication on our charge or a fee or effect website charge relating solely to the use of an access method or the issue of an additional or replacement access method that affects your account Increasing your liability 20 days before In writing for losses relating to EFT the charge s take transactions that affects effect your account RURAL BANK 7 Type of variation
37. e Australian Taxation Office ATO We ensure that your TFN details are kept confidential in accordance with the Privacy Act 1988 Cth You may provide your TFN either when you open an account or at a later time If you provide your TFN at a later time or it has not been provided at all and withholding tax has already been deducted you can claim this on your next tax return We can only refund a deduction that was made in error in the current tax year You may have an exemption from quoting a TFN Please advise us of this exemption when opening an account e g pensioners You will be charged withholding tax unless you are exempt i if you do not have a TFN you may be able to obtain one U from the Australian Taxation Office Section 4 Accessing and operating a FMD account 4 ACCESSING AND OPERATING A FMD ACCOUNT 4 1 Accessing an account Rural Bank Farm Management Deposits can be accessed via the methods stipulated in Section 9 Accessing your FMD Accounts 4 1 1 Over the counter services Over the counter services including deposits to your FMD account account opening and account information are provided to you on our behalf by Bendigo and Adelaide Bank Limited and Community Banks and other agents limited to account opening You acknowledge that Over the counter cash withdrawals are not available including Bank Post Bank cheque withdrawal requests are subject to cut off times and are not available
38. e end of the calendar day Eastern Standard Time will be included in your closing balance that day for the purpose of interest calculations Any certificate we give you shall be evidence of the matters referred to therein unless subsequently proven to be incorrect We may exercise any power right or remedy referred to in the Terms in any way that we deem fit including by imposing any conditions that we require Our failure to exercise a power right or remedy does not prevent us from exercising it in the future Our powers rights or remedies cannot be waived unless we have agreed in writing to waive those powers rights or remedies Our rights and remedies as set out in the Terms are in addition to those that we otherwise have at law Our rights and remedies may be exercised by us or by persons we authorise We are not liable for any loss you or anyone else incurs as a result of the actual or contemplated exercise or failure to exercise a right or remedy we have We may assign our rights in relation to your account and account terms and conditions as set out in the Terms provided that the account remains an FMD This means that we can transfer them to another person To assist us to do this you agree that we may disclose any information we require to any person You may not assign your rights unless we have agreed to the assignment in writing refer also to section 1 2 for other special terms and conditions applying to an FMD The terms a
39. e interest rate advised in the pre maturity letter as at the maturity date to determine the interest payable on the amount repaid That interest will be paid in accordance with the interest payment method you selected on your account application form In the event that you withdraw part of your funds within ten calendar days after the maturity date and the balance is rolled over into a new fixed rate FMD Account the balance of the new fixed rate FMD Account will be the reduced balance and the interest rate applicable to the new fixed rate FMD Account which may be less than the interest rate payable if there was no withdrawal will apply to the reduced balance not the balance of your fixed rate FMD Account at the maturity date If you request a withdrawal of funds either at maturity or within ten calendar days after maturity that request will be processed either on the maturity date or on the day we receive your request as applicable relevant day and if the funds are to be transferred to another account you hold with us the funds will be transferred to that account on the relevant day or to be transferred to an account held with another FMD provider the funds will be transferred to the other FMD provider on the next business day following the relevant day If you add funds to your fixed rate FMD account within ten calendar days after the maturity date the funds will be credited to your fixed rate FMD Account on the
40. e same meaning ISP means Internet Service Provider fixed rate FMD means our fixed rate Farm Management Deposit FMD means Farm Management Deposit FMD account means a fixed rate FMD or variable rate FMD FMD provider means farm management deposit provider as defined in subsection 393 20 8 of the Income Tax Assessment Act 1997 maturity date means the date on which the term of a fixed rate FMD expires nominated account s means any account s nominated by you and agreed to by us for use with Rural Bank Internet Banking and Phone Banking services password means the word or sequence of numbers and or letters nominated by you for identification purposes payment product means each of the following facilities or services offered by us cheques incorporating chequebooks and bank cheques automatic payments direct debits and periodical payments Debit card Internet Banking Phone Banking Bpay Pay Anyone Bulk Payments and staff assisted transfers PIN means Personal Identification Number that is issued by us or selected by you an authorised user to access Internet Banking or Phone Banking or to use in conjunction with a security token to use Pay Anyone Phone Banking service means the service we offer from time to time by which you or your authorised user s can access and transact on your nominated account s by phoning 1
41. ection that did not comply with any requirements we may have for such payment direction e If a BPaY payment is induced by the fraud of a person involved in the BraY scheme that person should refund you the amount of the fraud induced payment However if that person does not refund the amount of the fraud induced payment to you you must bear that loss and you authorise us to debit the amount of the payment to your account unless some other person involved in the Bray scheme knew of the fraud or would have detected it with reasonable diligence in which case we will attempt to obtain a refund for you of the fraud induced payment f If a BPaY payment you have made falls within the type described in section 4 3 9 iv and also sections 4 3 9 iii and 4 3 9 v then we will apply the principles set out in section 4 3 9 iv If a BpaY payment you have made falls within both the types described in sections 4 3 9 iii and 4 3 9 v we will apply the principles set out in section 4 3 9 v g You indemnify us against any loss or damage we may suffer due to any claims suits demands or action of any kind brought against us that arises directly or indirectly because you or your authorised user did not observe any of your obligations under these BPaY conditions or acted negligently or fraudulently in connection with the terms and conditions applicable to your account or the payment products h If you te
42. ed here may apply and will be payable by you from another account Fees will not be debited from a FMD account Bank cheque Applies per bank cheque Where you have a Bendigo Bank transaction account bank cheques are organised through Bendigo and Electronic trace Applies when you have requested a trace on a Bpay or Pay Anyone transaction or a transaction that has been sent electronically to another financial Adelaide Bank Limited 10 00 institution 20 00 Bank cheque Electronic transaction recall Where you do not have a Bendigo Bank transaction Applies per attempt to recall an electronic account bank cheques are organised through the transaction The fee applies regardless if the recall 15 00 per Commonwealth Bank of Australia CBA 10 00 is successful transaction Corporate cheque Real time electronic funds transfer Where you do not have a Bendigo Bank transaction Applies per transaction when funds are requested to account Corporate cheques are organised through be sent real time or the same day to an account held Rural Bank 8 00 with another Australian financial institution 30 00 Bank cheque repurchase or stop fee Transaction history print out Applies when E bank cheque is repurchased as it is Payable when a print out on an account transaction no longer required or stopped 30 00 per requested history is requested statement period 5 00 Corporate cheque repurchase or stop fee Vasco One Touch security token
43. en an FMD for the purposes of the FMD scheme Any balance remaining from prior to your repayment continues to be covered by the FMD scheme only if it is at least 1 000 and it remains in the Rural Bank FMD Account for at least twelve months Where a deduction has been claimed in a prior year of income for the part of an FMD that was repaid within twelve months of the deposit you are not able to retain the tax benefit of the deduction and you need to request an amendment of your assessment for that prior income year Where more than one repayment has been made within twelve months at different times it may be necessary to request additional amended assessments Example assuming none of the exceptions set out previously apply On 1 November 2009 a primary producer made a 10 000 deposit into an FMD Account For the income year ending 30 June 2010 the farmer claimed a deduction of 10 000 On 1 September 2010 the farmer has to withdraw 7 000 from the FMD Account The 3 000 remaining in the FMD Account still qualifies for a deduction providing It remains in the account until 1 November 2010 The 7 000 withdrawn is not and is taken never to have been part of an FMD Account Consequently the deduction for the year ended 30 June 2010 has to be reduced to 7 000 Note This example is for illustration purposes only The actual outcome should you make a withdrawal for an FMD within twelve months of making a deposit depends on your par
44. erest rate reduction by reducing your next interest payment Following is an example of how this may work Example John has a 50 000 Rural Bank Fixed Farm Management Deposit invested for twelve months 865 days at 5 00 p a 180 days into the term John requires 10 000 and we agree to early repayment As at the account open date the interest rate for 10 000 invested at the Interest Earning At Call Deposit rate was 0 25 p a Therefore John will only receive 0 25 p a on the amount he withdrew 10 000 This equates to Interest earned Amount repaid x applicable interest rate days in the year x days invested 10 000 x 0 25 p a 365 days x 180 days 12 33 If John had not withdrawn the 10 000 early for the same period he would have earned interest earned Amount repaid x applicable interest rate days in the year x days invested 10 000 x 5 00 p a 365 days x 180 days 246 58 Note Examples are used for illustration purposes only The final interest reduction depends on the actual Rural Bank Fixed Farm Management Deposit interest rate and the Interest Earning At Call Deposit account interest rate on the on the account opening reinvestment date So even if your Rural Bank Fixed Rate FMD matches the example the amount by which interest is reduced may be greater The Interest Earning At Call Deposit rate is available at www ruralbank com au Section 7 Transferring your FMD to another financial institu
45. ess features are detailed in Section 9 v Available x Not available 1 Interest is paid at different frequencies depending on the term of the Rural Bank Fixed FMD you select 2 Interest cannot be reinvested directly to your Rural Bank FMD Account 3 Interest may not be paid on all balances down to the minimum opening and operating balances You may need to maintain a higher balance to take advantage of a higher interest rate such as an FMD special 4 An individual can own more than one FMD and can own FMDs with different FMD providers but the sum of the balances of all the FMDs of an owner must not be more than 400 000 5 No monthly account service fees or transaction fees currently apply to FMD accounts Other fees and charges may apply as detailed in Section 10 and we reserve the right to recover fees and charges from you Fees will not be debited from a FMD account 6 Withdrawals are usually only permitted at maturity From 1 January 2015 withdrawals may not be available for up to 31 days or until the next maturity date if sooner An interest rate reduction may apply Refer to clause 6 2 of the terms and conditions 24 Rural Bank Farm Management Deposit Terms and Conditions Section 9 Rural Bank Farm Management Deposit Comparison Table and Access Features 9 RURAL BANK FARM MANAGEMENT DEPOSIT COMPARISON TABLE AND ACCESS FEATURES RURAL BANK FARM MANAGEMENT DEPOSIT ACCOUNT
46. et If you do not use your Phone Banking access ID and PIN to access the Phone Banking service for 365 continuous days your PIN will expire and may need to be reset You can reset your PIN s by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 4 2 5 Exiting Internet Banking If you or your authorised user use Internet Banking you or your authorised user must click on the log off button when you have finished using the service or if you or the authorised user are going to leave the computer unattended for any period This is particularly important in a work environment or another environment where the terminal you or your authorised user are using may then be used by someone else 4 2 6 Electronic communication and confirmation of transactions Subject to the requirements of any law and to our undertaking to provide written notices in certain circumstances as outlined in section 2 12 you agree that we may use electronic means to communicate with you instead of written communication for example to provide you with statements notices transaction confirmations or receipts We will provide you or your authorised user with a transaction receipt number each time you or your authorised user make a transaction on your account using Internet Banking and Phone Banking You or your authorised user should record the transaction receipt number and it should be quoted if you or your authorised use
47. hich the funds are to be transferred details of the account to which the funds are being transferred and if making a request over the phone certain details to confirm your identity When all relevant information has been supplied your request will be processed This usually occurs on the same day if it is during normal business hours at the office you make the request 4 7 2 External account staff assisted transfers An external account staff assisted transfer refers to the transfer of funds to an account held with another financial institution within Australia All external account staff assisted transfer requests must be made in writing and sent to our mailing address as set out in section 2 1 or completed at your nearest branch You are required to provide us with the following information together with such other information as we may require at the time the details of the FMD account from which the funds are being transferred a valid BSB number for the financial institution to which the funds will be transferred a valid account number and account name for the account to which the funds will be transferred the amount of the transfer and valid signature s to authorise the transaction 4 7 3 External account staff assisted transfer cut off times If your external account staff assisted transfer request is received by 2 30pm CST on a business day your request will usu
48. ich you or your authorised user can ask us to make payments to billers who inform you that you can make BPAY payments to them via the Bpay scheme Rural Bank is a member of the BPaY scheme however Bendigo and Adelaide Bank Limited act on our behalf in all matters relating to the Bpay scheme This includes facilitating access to the BPAY scheme for our customers when they use Rural Bank Internet Banking and Phone Banking services You or your authorised user can only make BPAy payments through the BPaY scheme from a nominated account if you or your authorised user has access to Internet Banking and or Phone Banking Neither Rural Bank nor Bendigo and Adelaide Bank Limited is acting as your agent or the agent of the biller when arranging and making a BPaY payment on your behalf 4 3 2 How to access Bray Bpay is available for use via both Internet Banking and Phone Banking To access BPaY via Internet Banking select Payments from the main menu which runs across the top of the Internet Banking screen and either select a biller you may have previously set up or create a new biller file by selecting Add New BPay from the dropdown box You can practice setting up a new biller and sending payments using the online demonstration on the Rural Bank website at www ruralbank com au Alternatively you can access Bray via Rural Bank Phone Banking 4 3 3 Using the Bpay scheme When you or your authori
49. ich is due to our negligence or breach of any condition or warranty implied by law which cannot be excluded restricted or modified at all or only to a limited extent 4 4 9 Mistaken Internet Payments a If you have made a Mistaken Internet Payment you should report it to us as soon as possible We will investigate your reported Mistaken Internet Payment and inform you of the outcome in writing within 30 business days of your report b If we are satisfied that a Mistaken Internet Payment has occurred we will contact the Receiving Financial Institution We are not required to take any further action if we are not satisfied that a Mistaken Internet Payment has occurred We are not required to credit your account for the amount of an incorrect pay anyone payment pending investigation of your report c If the Receiving Financial Institution is also satisfied that a Mistaken Internet Payment has occurred the next actions will depend on whether the Unintended Recipient has sufficient funds available in their account i Where the Unintended Recipient has sufficient funds available in their account the process depends on when you reported the Mistaken Internet Payment If you made the report within 10 business days the Receiving Financial Institution will withdraw the funds from the Unintended Recipients account If you made the report between 10 business days and 7 months the Receiving Financial Institution will give the Unintended
50. ide not to make any payment if there are insufficient funds available for withdrawal on the due payment date in the nominated account to be debited A delay may occur in the processing of a Pay Anyone transfer where there is a public or bank holiday on the day you or your authorised user instruct us to make a Pay Anyone transfer or you or your authorised user instruct us to make a Pay Anyone transfer on a day which is not a business day or after our payment cut off time on a business day for payment cut off times refer to section 4 4 7 4 4 5 If a transfer amount is incorrect You must ensure that the information you or your authorised user gives us in relation to each Pay Anyone transfer is correct If you or your authorised users discover that we have been instructed to make a transfer for an incorrect amount if the amount transferred is greater than the required amount contact the person or business to whom the funds were transferred to obtain a refund for the excess or if the amount transferred is less than the required amount you or your authorised user should make a further Pay Anyone transfer for the difference 4 4 6 Suspension of the Pay Anyone service We may suspend your or your authorised user s right to use the Pay Anyone service at any time if you or your authorised user is suspected of acting in a fraudulent manner 4 4 7 Cut off times Cut off times and payment dates are as per the following table
51. istake when instructing us to make a BPaY payment except in relation to the BraY payment amount refer to section 4 3 5 for details did not authorise a BPAY payment from your account pay y believes the BPaY payment was not processed in accordance with your or your authorised user s instructions including delays or think you or your authorised user has been fraudulently induced to make a BPAY payment Billers who participate in the Bpay scheme have agreed that a Bpay payment you or your authorised user make will be treated as received by the biller to whom it is directed on the date that you or your authorised user make that Bpay payment if you or your authorised user tell us to make the BPaY payment before our payment cut off time on a business day for details about cut off times refer to section 4 3 8 on the next business day if you or your authorised user instructs us to make a BraY payment after our payment cut off time on a business day or on a non business day or for payment that is made on a future date on the day or next business day you or your authorised user have nominated for a scheduled payment to take place A delay may occur in the processing of a BPAY payment where there is a public or bank holiday on the day you or your authorised user tell us to make a BPAY payment you or your authorised user tells us to make a BPaY payment either on a day that is n
52. ll us that a BPaY payment made from your account is unauthorised you must first give us your written consent addressed to the biller who received that BPaY payment consenting to us obtaining from the biller information about your account with that biller or the BPaY payment including your customer reference number and such information as we reasonably require to investigate the BraY payment We are not obliged to investigate or rectify any BPaY payment if you do not give us this consent If you do not give us that consent the biller may not be permitted under law to disclose to us information we need to investigate or rectify that BPaY payment i We are not liable for any consequential loss or damage you suffer as a result of using the BraY scheme other than any loss or damage which is due to our negligence or breach of any condition or warranty implied by law that cannot be excluded restricted or modified at all or only to a limited extent 4 4 Pay anyone Refer to the table below for the FMD account types that can be used to make Pay Anyone payments via Rural Bank Internet Banking Account Pay Anyone Rural Bank fixed rate FMD x Rural Bank variable rate FMD v v Available x Not available 16 Rural Bank Farm Management Deposit Terms and Conditions You should consult your taxation advisor before deciding to withdraw from your variable rate FMD The Pay Anyone service is an online service that allows you or
53. mage to you from us not acting as you require 4 8 Changing details on your account If you choose to revoke the authority of an authorised signatory or appoint a new authorised signatory or change your information supplied in the account application form such as change your address Section 5 Maturing Rural Bank FMDs details such a change will only be acted upon by us upon receipt of written notice of that change You must notify us promptly of any change to your name or address We will not be responsible for any errors or losses associated with account changes where we have not received prior notice You can provide a written notice by sending us a letter facsimile refer to section 2 for our contact details a secure email from Rural Bank Internet Banking or by providing written instructions at the nearest Bendigo Bank branch Any written instructions must be signed according to the authority of the account id LL 4 9 Inactive accounts A FMD cannot become unclaimed money s under the Banking Act 5 MATURING FIXED RATE FMD ACCOUNTS 3 month or 6 month fixed rate FMDs are available to assist you with managing your interest income At maturity they must be to rolled for further periods for at least 12 months in order to retain the taxation benefits associated with FMDs idiL Your fixed rate FMD terminates on the maturity date We will issue a pre maturity letter approximately fourteen days before the mat
54. nagement Deposit product we provide to you AFSL means Australian Financial Services Licence number authorised signatory means you or a person who is authorised to operate your account authorised user means any third party who is authorised by you to use Rural Bank Internet Banking and or Phone Banking services to access and operate your nominated account s and who is are registered with Rural Bank as an authorised user notwithstanding your responsibility for use of the Rural Bank Internet Banking and Phone Banking services Bendigo Bank means Bendigo and Adelaide Bank Limited ABN 11 068 049 178 who act as an agent on behalf of Rural Bank and offer limited banking services to Rural Bank customers branch includes any branch of Bendigo and Adelaide Bank Limited branches who act as agents of Rural Bank BSB means Bank State Branch identifier It is used to identify individual financial institutions for the purpose of direct credits direct debits and cheque clearing business day means a day on which banks in Melbourne or Sydney are able to effect settlement through the Reserve Bank of Australia direct debit request is an authorisation that you complete to arrange for payments to be made automatically from or to your account or to a specified payee s on dates advised by you ePayments Code means the ePayments code as amended from time to time EFTPOS means Electronic Fu
55. nd PIN You do not need to enter an authentication key until you have activated the security token Step 2 Once you have logged into Internet Banking go to the Security Options menu You can access this menu via the Customer Services menu or via the link on the Account Balances page RURAL BANK 13 Step 3 Follow the instructions to activate your chosen security options Once you have activated your security token you must always use the security token to use these services A security token not linked to your access ID will not be able to generate an authentication key that can be used with your Internet Banking access ID Where convenient more than one user can be linked to the same security token You can change the extra security options you have activated by contacting Rural Bank Internet Banking Support Services on 1300 651 839 4 2 11 Security token usage You authorise us to act on all instructions we receive from the use of your security token Depending on the Internet Banking services you use and the security options you have activated your security token is your electronic authorisation of login to Internet Banking and transactions you conduct Suitable care must be taken regarding use of and access to your security token Depending on the token used you may use a PIN to operate your token You must ensure that the PIN you select for your security token is not disclosed to any unauthorised per
56. nd conditions in the Terms are governed by the law of South Australia You and we submit to the non exclusive jurisdiction of the courts of South Australia If any law would make any terms or conditions applicable to your account void voidable illegal invalid or unenforceable or if any term or condition imposes an obligation or requirement prohibited by law then such term or condition shall be read as if it is varied to the extent necessary to comply with that law or if necessary is omitted Where allowed by law and subject to the previous sentence the terms and conditions prevail to the extent that they are inconsistent with any law We can combine the balances of two or more of your accounts even if one or both of the accounts are held by you jointly with others This may happen when one of your accounts is overdrawn or is in debit and another is in credit This means that the credit balance in one account can be used to repay us the debit balance in another account We will promptly notify you if we have combined any of your accounts We need not notify you in advance You should not treat your accounts as combined unless we have agreed to such an arrangement Account balances are denominated in Australian dollars 2 14 Anti Money Laundering You agree we may delay block or refuse to process any transaction without incurring any liability if we suspect that a making a payment may breach any law in Australia or any other count
57. nds Transfer at the Point of Sale EFT conditions means the terms and conditions that apply to EFT transactions as set out in section 2 15 1 EFT transaction means a transfer of funds initiated by an instruction via electronic equipment using an access ID or PIN to debit or credit an account An EFT transaction includes without limitation a transaction undertaken using Rural Bank Internet Banking or Phone Banking services external account staff assisted transfer means an electronic funds transfer to an account held with another financial institution within Australia that is completed by a staff member in accordance with your instructions 2 Rural Bank Farm Management Deposit Terms and Conditions internal account staff assisted transfer means an electronic funds transfer to another Bendigo Agribusiness account or Rural Bank account held by you or someone else that is completed by a staff member in accordance with your instructions Internet Banking service means the service we offer from time to time by which you or your authorised user s can access and transact on your nominated account s by using a personal computer or similar electronic device and accessing Bendigo Bank s website at www bendigobank com au select Business then follow the agribusiness e banking prompts Internet Banking or by accessing Rural Bank s website at www ruralbank com au and login to Internet Banking has th
58. nt is made from your account not being a business account without your knowledge or consent liability for that unauthorised BPaY payment will be determined in accordance with section 4 5 2 Otherwise except as set out in this section i e section 4 3 9 we are not liable for any loss or damage you suffer as a result of using the Bpay scheme c If a Bray payment is made to a person or for an amount which is not in accordance with your or an authorised user s instructions if any and your account has been debited with the amount of that payment we will credit that amount to your account However if you were responsible for a mistake resulting in that payment and we cannot recover the amount within 20 business days of us attempting to do so from the person who received the amount of that payment you must pay us that amount and you authorise us to debit that amount to your account RURAL BANK 15 d If a Bray payment is made in accordance with a payment direction that appeared to us to be from you or on your behalf but for which you did not give authority we will credit your account with the amount of that unauthorised payment However you must pay us the amount of that unauthorised payment and you authorise us to debit that amount to your account if we cannot recover that amount within 20 business days of us attempting to do so from the person who received it and the payment was made as a result of a payment dir
59. o Rural Bank Variable FMD is the Rural Bank Variable FMD interest rate When checking your current rate or reading of rate changes please refer to this rate we The interest rate is fixed for the chosen term The rate is determined by the prevailing Rural Bank fixed rate FMD we offer on the amount you deposit for the term you require on the day we receive the deposit This rate is available on request and will be confirmed in writing following the receipt of your funds Interest rate reductions will apply where we agree to any request to early withdrawal of funds prior to maturity date refer section 6 2 for details For a facility established as a result of a rollover please note the variations that may occur to the interest rate as set out in section 5 of this document v Paid Annually on 1 July Monthly quarterly annually or at maturity Fixed or Variable Variable Fixed Payment method Must be credited to another account in your name Must be credited to another account in your name ACCOUNT FEATURES Available terms At call 3 6 12 or 24 months or other terms we may introduce Minimum opening balance 1 000 5 000 Minimum operating balance 1 000 5 000 Maximum operating balance 400 0004 400 0004 Minimum additional deposit 1 000 x Statement frequency 6 monthly 6 monthly and or at maturity xs geo Fees and charges apply ACCESS FEATURES Acc
60. on does not recover the funds from the Unintended Recipient g If you are the Unintended Recipient of funds and if we are required to withdraw those funds from your account under the ePayments Code as the Receiving Financial Institution you authorise us to withdraw those funds in accordance with the ePayments Code 18 Rural Bank Farm Management Deposit Terms and Conditions h You may complain about the report by writing to us or phoning us If you are not satisfied with the outcome you may complain to the Financial Ombudsman Service Ltd For more information about resolving complaints refer to section 2 15 i In this clause the following words have these specific meanings ADI has the same meaning as Authorised Deposit taking Institution in the Banking Act 1959 Cth Mistaken Internet Payment means a payment by a user through a pay anyone internet banking facility and processed by an ADI through direct entry where funds are paid into the account of an Unintended Recipient because the user enters or selects a Bank State Branch BSB number and or account number that does not belong to the named and or intended recipient as a result of i the user s error or ii the user being advised of the wrong BSB number and or account number This does not include payments made using BPAY Receiving Financial Institution means an ADI who subscribes to the ePayments Code where their customer is the Uninten
61. or as soon as possible after the change or event occurs except where the material change or significant event is not adverse to your interests and accordingly you would not be expected to be concerned about any delay in receiving the information in which case the notification will be given no later than twelve months after the change or event occurs You agree that we may notify you of variations to terms and conditions or of such other information as contemplated above in writing by press advertisement or publication on our website or by any other means permitted by law Where a notification is posted on our website we will place a clear statement on our homepage that such a notice exists with a link to the full notice Information in the Terms that is not materially adverse may have changed In addition and subject to our obligation to notify you of certain matters set out above information contained in the Terms that is not materially adverse may change in the future We may update such information by publication on our website You can obtain updated information by contacting our Customer Service Centre on 1300 660 115 or by visiting our website at www ruralbank com au A paper copy of any updated information will be provided free of charge upon request 8 Rural Bank Farm Management Deposit Terms and Conditions 2 13 Other Important Terms For the purpose of determining the closing daily balance transactions occurring before th
62. ot a business day or after our payment cut off time on a business day another financial institution participating in the BpaY scheme does not comply with its obligations under the BPaY scheme or a biller fails to comply with its obligations under the BPAaY scheme Although a delay in processing a BPaY payment is not expected to continue for more than one business day you acknowledge and accept that a delay may continue for a longer period 4 3 5 If the amount of a payment to a biller is incorrect You must ensure that the information in relation to each BPAY payment is correct If you discover that you or your authorised user has instructed us to make a payment to a biller for an incorrect amount if the amount you or your authorised user instructed us to pay is greater than the required amount you should contact the biller for a refund or if the amount is less than the required amount you should make a further BPaY payment for the difference 4 3 6 When a biller cannot process a payment If after debiting your account we are notified that your BPaY payment cannot be processed by a biller we will notify you credit your account for the amount of the BPay payment and if you request take all reasonable steps to assist you in making the Bpay payment as quickly as possible 4 3 7 Suspension of Bpay We may suspend your right to participate in the Bpay scheme at any time if you or your
63. r have any queries in relation to that transaction Subject to the requirements of any law where you or your authorised user carry out a transaction via Rural Bank Internet Banking and we make a transaction record or receipt which you can save or print available to you or your authorised user on the website immediately upon completion of the transaction we will not provide you or your authorised user with a paper transaction record or receipt 4 2 7 Our responsibility for Internet Banking and Phone Banking Subject to any other provisions of these terms and conditions to the extent permitted by law we are not liable to you or an authorised user for or in connection with a any failure malfunction delay or error for any reason of any equipment system or software that is not controlled provided by or provided on behalf of us including without limitation the telephone computer software and telecommunications and ISP services you or an authorised user use to access Internet Banking and Phone Banking b any unavailability or failure of Internet Banking and Phone Banking of which you or your authorised user should have been aware to accept instructions from you c any failure of an access ID or PIN to permit you or your authorised user to access Internet Banking or Phone Banking d disclosure of information relating to your accounts through Internet Banking and Phone Banking where the information has been obtaine
64. r tax benefit You are entitled to deduct the total dollar amount of deposits made to your Rural Bank FMD Account in an income year from your assessable income for the year of the income if a you are the owner of the FMD made in the year of income b your taxable non primary production income for the year of income is not more that 100 000 and c you did not during the year of income i become bankrupt or ii cease to be a primary producer for 120 days or more whether or not falling entirely within the year of income The taxation deduction that you claim must not exceed your taxable primary production income for the year of income Taxation benefits are not retained for deposits or part of deposits withdrawn in the first twelve months of the deposit being made unless the withdrawal is made a because the owner i dies ii becomes bankrupt or iii has requested all or part of the deposit be transferred to another FMD provider b in circumstances specified in regulation 7 of the Income Tax Farm Management Deposits Regulations 1998 relating to repayment in the event of a natural disaster exist Taxation benefits are retained for any part of a deposit remaining after a withdrawal in the first twelve months of the deposit being made if a it remains in the FMD Account for at least twelve months and b the residual amount does not fall below 1 000 For these purposes deposits made with us as
65. raw from your variable rate FMD All requests to withdrawal part or all of a variable rate FMD must be provided by signed written instructions from yourself or your authorised signatory or via Internet Banking 4 2 Internet and Phone Banking You can apply for access to Rural Bank Internet Banking and Phone Banking services by phoning 1300 651 639 Approval of an application is at our discretion Full Internet Banking and Phone Banking access is not available for all FMD accounts The table below indicates which FMD account types have full Internet Banking and Phone Banking access and which account types have view only access FMD Internet Phone Account Banking Banking Rural Bank fixed rate FMD View only View only Rural Bank variable rate FMD v v v Available x Not available View only access has limited functionality You will not be able to transfer funds between accounts or use the BPAY or Pay Anyone services The following table displays information about what you or an authorised user may be able to when using Internet Banking and Phone Banking in relation to your FMD account FEATURES OF INTERNET AND OR PHONE BANKING Internet Banking Phone Banking Fixed Variable Fixed Variable Rate Rate Rate Rate FMD FMD FMD FMD Review the balance v v v Wi of your account to determine the current or available balance Transfer funds between x vA x A your Rural Bank accounts Transfer funds to an x
66. required to add any new payee or amend an existing payee from your payee list Please note you will not need to enter the authentication key to authorise a Pay Anyone payment Pay Anyone every new payee if they are able to login to your Internet Banking session from adding any newpayees including themselves to our approved payee list We also strongly recommend the use of a security token when you logon to Internet Banking and when you use the services available in Internet Banking particularly if you are likely to access Internet Banking on a computer that may not have all the necessary security and or protection firewalls anti virus software etc available Security tokens can also be activated for the following Internet Banking services Logon Pay Anyone Every payment Bpay Every payment Every new payee Every payment and every new payee 4 2 10 Activating a security token When you are issued with a security token unless otherwise advised it will be linked for use against your access ID If you use Pay Anyone services your security token will come pre activated and you will need to use the security token each time you add a new Pay Anyone payee If you do not use Pay Anyone services or want to use your security token to add extra security options you will need to activate the selected options in Internet Banking as follows Step 1 Login to Internet Banking using your access ID a
67. ress outlined in section 2 Unless otherwise agreed we will not maintain or transact on your account before receiving a signed written instruction from yourself or your authorised signatory or a secure email 2 12 Changes to the Terms and Conditions and ongoing disclosure We may vary the terms and conditions applicable to your account as set out in the Terms but where the product was issued to you as a basic deposit product we cannot vary the terms and conditions in a way that would not permit the account to remain as a basic deposit product Basic deposit products are relatively simple deposit products for which separate rules may apply under the Corporations Act 2001 In addition we will not vary the terms of a Rural Bank FMD so that it no longer qualifies as a FMD without giving you at least twelve months notice and where we have agreed to a fixed rate of interest we cannot vary that rate unless we agree to you withdrawing funds prior to the end of the agreed term refer to section 6 2 for details We will notify you of variations to the terms and conditions interest rates and fees and charges that affect your Rural Bank FMD Account as follows Method of notice Type of variation Minimum notice Adding deleting or Before the In writing press varying terms and variation s takes advertisement or conditions that affect your effect publication on our account other website than as specified elsewher
68. riting within three business days to acknowledge your complaint Step 2 We will aim to resolve your complaint within 45 business days of the complaint being received Step 3 We will keep you informed of our progress in resolving the complaint If you feel your complaint has not been properly handled or resolved you may be able to refer it to the Financial Ombudsman Service The Ombudsman will generally be able to consider your complaint if it is about a financial service provided by us or an affiliate you are an individual or a small business and the value of the applicants claim is less than 500 000 If you are unsure whether the Ombudsman can deal with a complaint you can call the Ombudsman s office on 1300 780 808 or refer to the Operational Guidelines available at www fos org au The Ombudsman s office can be contacted via Mail Financial Ombudsman Service GPO Box 3 Melbourne VIC 3001 Phone 1300 780 808 Facsimile 03 9613 6399 Website www fos org au 2 15 1 EFT transactions If your complaint is in relation to an EFT transaction a We will contact you in writing within three business days of receiving your complaint to acknowledge your complaint b If your complaint is not immediately settled to the satisfaction of both you and us we will advise you in writing of the procedures for investigating and handling the complaint c Within 21 days of receiving your complaint we will advise yo
69. rvice When you or your authorised user tell us to make a Pay Anyone transfer you or your authorised user must provide us with the following information and any other information that we may require at the time the account from which you or your authorised user want us to debit the Pay Anyone transfer the correct account number of the person or business to whom you wish to transfer funds the correct BSB number of the financial institution at which the account to whom you or your authorised user wish to transfer funds is held a payment reference and the amount of the Pay Anyone transfer You acknowledge and accept that we are not obliged to effect a Pay Anyone transfer if you or your authorised user do not give us all of the above information or give us inaccurate information You authorise us to debit the nominated account you or your authorised user specify with the amount of that Pay Anyone transfer Warning Some financial institutions do not cross check the account number with the account name which may lead to your payment being placed into the wrong account if you enter an incorrect account number You must ensure that the account number is correct We will not be liable for any loss as a result of you entering the wrong account number 4 4 4 Payments We may impose restrictions on the accounts from which a Pay Anyone transfer may be made or impose limits on the amount of Pay Anyone transfers We may dec
70. ry b the transaction may directly or indirectly involve the proceeds of or be applied for the purposes of unlawful conduct You agree to provide all information to us which we believe we reasonably require to manage money laundering or terrorism financing risk or to comply with any laws in Australia or another country You agree that we may disclose information which you provide to us where required by any laws in Australia or any other country Unless you have disclosed that you are acting in a trustee capacity or on behalf of another party you warrant that you are acting on your own behalf in entering into this agreement You declare and undertake to Rural Bank that the payment of monies by Rural Bank in accordance with the customer s instructions will not breach any laws in Australia or any other country 2 15 If you have a complaint We value your feedback as it provides us with an opportunity to improve our products and services If our products and services do not meet your expectations we want to hear from you We will ensure we respond to your concern as soon as possible You can notify us of a complaint by writing to us or phoning us Mail Rural Bank Customer Relations Officer Reply Paid 84135 Rundle Mall SA 5000 1300 660 115 service ruralbank com au Phone Email We aim to respond to complaints immediately Upon the receipt of your complaint we will take the following steps Step 1 We will contact you in w
71. sed user tells us to make a BPAY payment you or your authorised user must provide us with the following information together with such other information as we may require at the time the account from which the BraY payment is to be debited the BPAY biller code of the biller to be paid the amount of the Bray payment the date on which the payment is to be made and the biller customer reference number You acknowledge and accept that we are not obliged to effect a Bray payment if you or your authorised user do not give to us all of the above information or give us inaccurate information Upon receipt of the required information we will debit the account you or your authorised user specify with the amount of that BPay payment We may decide not to make the BPaY payment if there are insufficient cleared funds in the specified account at the time you or your authorised user have told us to make that payment 4 3 4 Payments We may impose restrictions on the accounts from which a BpaY payment may be made or impose limits on the amount of Bpay payments We will not accept an instruction to stop a BPAY payment once you or your authorised user have instructed us to make that BPaY payment except for future dated payments which can be cancelled before the payment due date You must notify us immediately if you or your authorised user become aware that you or your authorised user may have made a m
72. seseseseeeeeeee 22 6 2 Closing or repayment from a fixed rate FEMI pri rto rn atu annaa e 22 SECTION 7 TRANSFERRING YOUR FMD TO ANOTHER FINANCIAL INSTITUTION ssssssssssssssssssssssesnsses 23 SECTION 8 RURAL BANK FARM MANAGEMENT DEPOSIT COMPARISON TABLE amp PRODUCT FEATURES ssssssssssssssoes 24 SECTION 9 RURAL BANK FARM MANAGEMENT DEPOSIT COMPARISON TABLE AND ACCESS FEATUREG ssss ssss000 25 SECTION 10 OTHER FEES AND CHARGES sssssssssssstsnssees 26 RURALBANK 1 Definition of Terms In these Terms unless the context otherwise requires access ID means the number s Rural Bank issues to you and your authorised user s to enable access to the Rural Bank Internet Banking or Rural Bank Phone Banking services access method means any method we make available to you or your authorised user s to give us authority to act on instructions when using electronic equipment An access method comprises one or more components including but not limited to a PIN an access ID or any combination of these that does not include a method requiring the user s manual signature where the comparison of the manual signature with the written specimen signature is the principal means of authenticating you or your authorised users authority to give us an instruction account means an account we establish in your name for the purpose of recording transactions in connection with a Rural Bank Farm Ma
73. son If you fail to comply we shall be immediately entitled to cancel your use of all or any of the following Internet Banking Pay Anyone Bpay 4 2 12 Security token battery life Security tokens have an expected battery life of five 5 years Batteries in security tokens cannot be replaced and you will need to obtain a new security token a replacement token fee may apply 4 2 13 Security token refunds Refunds are not available on security tokens if you decide you no longer require a security token i e you have closed your accounts or no longer use Internet Banking If you receive a security token that is faulty or damaged we will replace it for you a fee may apply depending on the circumstances 4 2 14 Reassigning a security token If you need to reassign a security token i e if there has been a change of authorised signatory on an account you must notify us and confirm in writing 4 3 Bpay Refer to the table below to determine which FMD account types can be used to make BPaY payments via Rural Bank Internet Banking and Phone Banking Account Bpay Rural Bank fixed rate FMD x Rural Bank variable rate FMD v v Available x Not available You should consult your taxation advisor before deciding to withdraw from your variable rate FMD 14 Rural Bank Farm Management Deposit Terms and Conditions 4 3 1 About the Bray scheme The Bray scheme is an electronic payments scheme through wh
74. sses incurred on any account which exceeds the balance of that account including any prearranged credit all losses incurred on any accounts which we and you had not agreed could be accessed using the access method any losses incurred as a result of conduct we expressly authorised you to engage in or any losses incurred as a result of you disclosing recording or storing a PIN in a way that is required or recommended for the purposes of using an account access service such as when you provide your codes to an aggregator service or store your codes in an electronic wallet on your computer which is expressly or impliedly promoted endorsed or authorised by us d Where we can prove on the balance of probability that you or your authorised user have contributed to the losses by unreasonably delaying notification after becoming aware that the security of all the codes that form part of the access method has been breached you are liable for the actual losses that occur between when you or your authorised user became aware and when we were actually notified but you are not liable for any of the following amounts that portion of the losses incurred on any one day that exceed any applicable daily withdrawal limits that portion of the losses incurred in a period that exceeds any other periodic withdrawal limits applicable to that period that portion of the total losses incurred on any account that exceeds the balance of that
75. ster your access or access of your authorised user s to the Pay Anyone service by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 or by calling 1800 035 383 outside Rural Bank Internet and Phone Banking Support Services business hours of operation Your authorised user s may disable or deregister their access at any time without your consent 4 4 2 Transaction limits A default maximum daily transaction transfer limit of 5 000 applies per Internet Banking access ID to Pay Anyone transfers excluding minors who do not have access to this service We may at our discretion approve an increase to your daily limit You can request an increase by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 The maximum allowable daily limit for personal customers is 25 000 Z Ifyou need to transfer a once off amount greater than 25 000 please contact our Customer Service Centre m for other transfer options If you do not already have a security token you will be required to obtain a security token before we will approve your request for an increase in your daily limit You can reduce your Pay Anyone daily transaction limit using the Reduce Daily Limits function in Internet Banking Once you have decreased your daily limit it can only be increased again by contacting Rural Bank Internet and Phone Banking Support Services on 1300 651 839 4 4 3 Using the Pay Anyone se
76. t a PIN that is easily identified with you e g your date of birth your name part of your name or your phone number do not select a PIN that is a common or easily guessed combination e g repeated or consecutive numbers such as 1234 or 5555 do not provide your PIN security token or password to any person including a family member or a friend and do not allow any unauthorised person to observe or hear your PIN or password You must also ensure that your authorised users do each of these things 4 6 1 Loss theft and unauthorised use of your access ID password pin and security token You must notify us immediately if a any record you may have of your PIN or password or any record an authorised user may have of their PIN or password is lost or stolen b someone steals the token from you or your authorised user c you or your authorised user has lost your security token or d you or your authorised user becomes aware or suspects that another person knows your or their PIN or password or has used your or their PIN or password without their or your authority 4 6 2 From within Australia You can contact our Customer Service Centre on 1300 660 115 during normal business hours for any issues relating to the use and security of your access ID password PIN and security token 20 Rural Bank Farm Management Deposit Terms and Conditions 4 6 3 From overseas You can contact us while overseas by phoning 61
77. tages Security warnings and advice you should follow to protect yourself Advice of new features and upgrades to Internet Banking and Any changes to terms and conditions for Internet Banking You must ensure that you read any notices posted on the Rural Bank website and or Internet Banking logon page and ensure that you follow those instructions accordingly ALON 4 2 1 Equipment As the electronic equipment and software used for access to Internet Banking and Phone Banking is outside the Bank s direct control it is your responsibility to obtain and maintain any electronic equipment e g computer hardware or touchtone telephone and software that you or your authorised user may require to access these services ina manner that minimises the risk of inappropriate access or disclosure of your banking details Such measures include but are not restricted to computer firewalls anti virus and malicious code protection software and computer operating and Internet browser software suitably configured and maintained with the latest vendor security patches and recommended security settings 4 2 2 Authorised users You may authorise a third party to use Internet Banking and or Phone Banking to access view balances and transactions and or transact on a nominated account s This third party must be a signatory on the account and or registered as an authorised user You are liable for any failure on the part of the
78. ticular circumstances at the time You should seek financial advice prior to making the decision to transact on your FMD 1 5 Repayment upon death If you die the balance of your Rural Bank FMD Account becomes payable at that time and is assessable income in that financial year to the extent that it has previously been claimed as a deduction RURAL BANK 5 Section 2 General information 2 GENERAL INFORMATION 2 1 Contacting us If you require further information or have questions at any time please contact us Our contact details are Name Rural Bank Limited ABN 74 083 938 416 AFSL 238042 Address Level 6 80 Grenfell Street ADELAIDE SA 5000 Mailing address PO Box 3660 Rundle Mall SA 5000 BSB 633 111 1300 660 115 8 00am 6 30pm Central Standard Time CST Monday to Friday excluding national public holidays Customer Service Centre Email service ruralbank com au Website www ruralbank com au 2 2 About us Rural Bank Limited is a wholly owned subsidiary of Bendigo and Adelaide Bank Limited AFSL 237879 Any deposits are deposits with us Our products are not issued guaranteed or underwritten by Bendigo and Adelaide Bank Limited or any of their group companies 2 3 Your privacy and confidentiality Our Privacy Policy explains our commitment to the protection of your personal information You can obtain a copy of this policy by contacting our Customer Service Centre on 1300 660 115 or by visiting our websit
79. tion 7 TRANSFERRING YOUR FMD TO ANOTHER FINANCIAL INSTITUTION You can choose to transfer all of part of your Rural Bank FMD to another FMD provider by sending us a secure email via Internet Banking by visiting your local branch or by contacting us on 1300 660 115 At your written request and upon receipt of any information or other assistance necessary for the purpose we will electronically transfer the requested amount from your Rural Bank ONE FMD Account to another FMD provider that agrees to accept it as a FMD Note Reduced interest may apply if a fixed rate FMD is transferred prior to its maturity date refer to section 6 2 for details Any interest owing to you will be paid to you separately to your nominated bank account as it cannot be included in the principal amount being transferred to the other FMD provider RURAL BANK 23 Section 8 Rural Bank Farm Management Deposit Comparison Table amp Product Features 8 RURAL BANK FARM MANAGEMENT DEPOSIT COMPARISON TABLE amp PRODUCT FEATURES The following table provides a summary of Rural Bank Farm Management Deposit products and features including how you can access your Rural Bank Farm Management Deposit account RURAL BANK ONE FARM MANAGEMENT DEPOSIT ACCOUNTS Variable Rate FMD Fixed Rate FMD AVAILABLE TO Primary Producers only Primary Producers only INTEREST Interest Rate Calculated daily The interest rate applicable t
80. tity to us or to any other entity h Interest or other earnings on your Rural Bank FMD Account must not reduce your liability to pay interest to us on loans or other debts you have i Interest or other earnings on your Rural Bank FMD Account must not be invested in an FMD Account with us without having first been paid to you In addition to the above the following special conditions must be satisfied by us in relation to your Rural Bank FMD Account and we will comply with them j We must repay your Rural Bank FMD Account s if i you die ii become bankrupt or iii you cease to be a primary producer for at least 120 days k Except where the entire amount of your Rural Bank FMD Account is repaid by us the amount of any repayment must be 1 000 or more I At your written request and upon receipt of any information or other assistance necessary for the purpose we must electronically transfer all or part of the balance of your Rural Bank FMD Account to another FMD provider that agrees to accept it as a FMD Reduced interest may apply if a fixed rate FMD is transferred prior to its maturity date refer to section 6 2 m for details m We must not deduct from your Rural Bank FMD Account whether at the time the deposit is made while it is with us or at the time of its repayment any administration fee or other amount required by us to be paid in respect to the FMD Account or otherwise 1 3 Eligibility fo
81. u in writing of either the outcome of our investigation or the need for more time to complete our investigation d If we are unable to resolve the complaint within 45 days of receiving your complaint 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 e 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 and except where the complaint has been resolved completely in your favour we will inform you of any further action you can take Our advice will be provided in writing unless we are able to resolve the matter immediately to the satisfaction of both you and us f 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
82. udulently induced to make a Pay Anyone transfer We will attempt to rectify any such matters in relation to your Pay Anyone transfer in the way described in this section If a Pay Anyone transfer is an EFT transaction and the Pay Anyone transfer is made from your account not being a business account without your knowledge or consent liability for that unauthorised Pay Anyone transfer will be determined in accordance with section 4 5 Otherwise except as set out in this section i e section 4 4 8 we are not liable for any loss or damage you suffer as a result of using the Pay Anyone service You indemnify us against any loss or damage we may suffer due to any claims suits demands or action of any kind brought against us arising directly or indirectly because you did not observe any of your obligations under the terms and conditions in section 4 4 or acted negligently or fraudulently in connection with the terms and conditions applicable to your account or the payment products If a Pay Anyone transfer that was authorised by you or your authorised user is made to a person or for an amount which is not in accordance with the instructions given to us and your account has been debited for the amount of that transfer we will immediately credit that amount to your account RURALBANK 17 We are not liable for any consequential loss or damage you suffer as a result of using the Pay Anyone service other than any loss or damage wh
83. unnunnunnonunnunnannnnnnnnnnnnnnnnnnnann nn 8 2 14 Anti Money Laundering lt n 2 15 If you have ALCON pean taececccasenctenererececaracasnesanananacanacecerancnaweranezer 9 SECTION 3 OPENING AN FMD ACCOUNT s sssssssssetsnsssenee 10 SB rfl SUE CULO e 3 2 Your completed application form eee Enae ooa 3 API OUN TAG COUN Ueerraccecenenanancnanscanenenasencsesacaraeasacaraenanacererazaraceracerereveseven 10 3 5 Authorising someone to act ON your ACCOUNL ss s seceeeee 10 3 6 Taxation implications and providing AT ca KOREA IN UTA ED a A A 10 SECTION 4 ACCESSING AND OPERATING A FMD ACCOUNT A MIVACCESSING AM ACCOUMNE srecerecerececonstenecerarerererscescenesenesenscensrarsverevevad 11 4 2 Internet and Phone Banking s ss sssssssununnunnunnunnunnnnunnunnunnunnnnna 11 A EA a A E A 14 A N EE IE a AA 16 4 5 EFT transaction Liability s s ssununnunuununnnnnunnunnunnunnunnnnnnnnnnnnnan 19 4 6 Protecting your access ID password and security token s sssssssesuenuenunnuonunnnonunnnnunnunnunnnnnnn 20 4 7 Staff Assisted transfers 20 4 8 Changing details on your aCCOUNt s sssssssussuununnunnununnnnnunnnnnnn 21 A OinactiveaccountS aeaee e aeaa AAE AAA AA A A 21 SECTION 5 MATURING RURAL BANK FMD nnssssssnnssunssnnsnss 21 SECTION 6 CLOSING AN ACCOUNT sscsssssssssssssnssssnsesensnsenes 22 6 1 Closing your variable FMD accounts and ending fixed FMD accounts at MatuLity ssscss
84. unts 2 6 1 Change in taxation law risk There is a risk that should the relevant taxation laws change you may not remain eligible for the current potential taxation benefits applicable to our FMD Accounts 2 6 2 Taxation risk There is a risk that should you require access to funds in your FMD Account within twelve months of your deposit you may need to request amendments to prior income tax assessments refer to section 1 4 for details 2 7 Fees and charges No monthly account service fees or transaction fees currently apply to FMD accounts Other fees and charges may apply as detailed in Section 10 and we reserve the right to recover fees and charges from you Fees will not be debited from a FMD account 2 8 Interest rates that may apply 2 8 1 Rural Bank fixed rate FMD Fixed interest rates apply to Rural Bank fixed rate Farm Management Deposit Accounts The rate of interest that applies to your initial deposit will be confirmed to you once your deposit is accepted and the account is opened Interest is calculated by applying the daily percentage rate to the balance of your account at the end of each day The daily percentage rate is calculated by dividing the relevant interest rate by 365 or ina leap year 366 2 8 2 Rural Bank variable rate FMD The name of the interest rate applicable to the Rural Bank variable rate Farm Management Deposit Account is set out in section 8 of this document Applicable interest rates are
85. urity date of your fixed rate FMD Account From 1 January 2015 this advice will set out and indicative interest rate that may apply to your fixed rate FMD account if you choose to roll all or part of your fixed rate FMD for the same investment term or if your term fixed rate FMD is automatically renewed in accordance with clause 5 The new interest rate will be based on the prevailing interest rate applying to that particular fixed rate FMD and investment term on the maturity date Important Note The rates and tiers may change prior to your maturity date You should check the current interest rates and tiers with us on the maturity date Following receipt of the pre maturity letter you may instruct us in writing that at maturity you want to roll all or part of the balance of your fixed rate FMD Account over into a new fixed rate FMD for the same or a different term at the relevant FMD fixed interest rate on the maturity date add funds to your fixed rate FMD Account and roll the increased balance of the fixed rate FMD Account over into a new fixed rate FMD for the same or a different term at the relevant fixed rate FMD interest rate on the maturity date roll all or part of the balance of your fixed rate FMD Account over into a new floating rate FMD Account or withdraw all or part of and roll over the balance of the funds in your fixed rate FMD Account into a new fixed rate FMD Account or floating rate FMD Account
86. variable and may change from time to time The rate of interest that applies to your initial deposit will be confirmed to you once your deposit is accepted and the account is opened Your six monthly account statement will display the current interest rate applicable to your deposit Your account statement will also display any applicable interest rate s on your deposit and the effective date s if the rate has changed since your previous statement Interest is calculated by applying the daily percentage rate to the balance of your account at the end of each day The daily percentage rate is calculated by dividing the relevant interest rate by 365 or ina leap year 366 2 9 Account statements Account statements provide a record of all transactions made on the account for the statement period You should check your account statement and immediately report any discrepancy by either calling our Customer Service Centre on 1300 660 115 by writing to us or via secure email You can request a statement of account or query a transaction on your statement of account by contacting our Customer Service Centre on 1300 660 115 If you have a Statements are issued Rural Bank variable rate FMD Six monthly Rural Bank fixed rate FMD Six monthly and or at maturity Depending on the Account you have as an alternative to receiving paper statements in the post you may elect to opt out of paper statements and only obtain electronic statements
87. y incur fees and you agree to be bound by such actions It is your responsibility to make an authorised signatory aware of the terms and conditions applicable to the account As the account holder you should remember that you are giving someone authority to act on your account and you are liable for all transactions conducted by authorised signatories including transactions initiated by Internet Banking and Phone Banking and for any fees or charges arising from an authorised signatory s conduct in relation to your account You authorise us to provide your account personal and financial information to authorised signatories If you wish to alter your authorised signatories you must notify us in writing 10 Rural Bank Farm Management Deposit Terms and Conditions 3 6 Taxation implications and providing a Tax File Number The taxation implications of investing in a Rural Bank Farm Management Deposit account depend on your individual circumstances You should consult your taxation advisor before deciding to invest in a FMD Account 3 6 1 Providing us with a Tax file number TFN When opening an account you have the option of providing us with your TFN You are not obliged to provide us with these details However unless an exemption applies if you do not quote a TFN we must deduct withholding tax from the interest paid to you calculated at the highest marginal tax rate plus the Medicare Levy The amount deducted is forwarded to th
88. y selecting numbers which represent the person s date of birth or letters which are a recognisable part of their names if immediately before this was done we specifically warned the person not to do so and that you might incur liability by doing so or v by acting with extreme carelessness in failing to protect the security of the PIN and vi where an access method includes more than one code and we prove that you or your authorised user contravened the requirements of section 4 5 2 ii b c d e or f by voluntarily disclosing or keeping a record of one or more codes but not all the codes in the access method the account holder is liable under section 4 5 2 ii only if we also prove on the balance of probability that the recording or voluntary disclosure of one or more but not all of the codes that form part of the access method was the dominant contributing cause of the loss c In the cases referred to in section 4 5 2 ii you are liable for the actual losses that occur before you or your authorised user notified us that the security of a PIN that forms part of the access method has been breached but you are not liable for any of the following amounts that portion of the losses incurred on any one day which exceed the applicable daily withdrawal limits that portion of the losses incurred in a period which exceeds any other periodic withdrawal limits applicable to that period that portion of the total lo

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