Member Matters July 2018- Winter edition

July web cover


Director's message

 

The start of a new financial year is a great time to take a pit stop and review your personal and financial goals and make a solid plan to achieve all that you had set out to achieve during the year.

Reflecting on the first half of 2018, we’ve endeavoured to bring increased value to our members by putting them at the heart of our decision making. One of our key focuses in the last few months has been on removing a significant number of fees on various accounts and improving the product and service offerings for our members.

Our approach is simple - 100% of our profits are re-invested to benefit our members in Police, Health, Emergency and Public Services and the communities they serve. It’s this approach that drives the work we do everyday – we’re about ‘People before Profits’ and putting our members first.

Thank you to all of our members for their continued support and we look forward to all we can achieve together in the second half of the year.

DAVID BOELL

 


 

BankVic in the community

BankVic Ice Skating Wonderland

THE BANKVIC ICE SKATING WONDERLAND

On 30 March around 1,450 ice skaters laced up with BankVic in support of a great cause. BankVic was proud to sponsor the Kids Day Out event as part of the annual Good Friday Appeal. This year the BankVic team hosted the popular ice skating rink at the Melbourne Convention and Exhibition Centre, transforming the venue into a stunning Ice Skating Wonderland - complete with a tree lined fog entrance, falling snow, illuminated igloos and giant snow men.

The BankVic Ice Skating Wonderland helped to raise over $16,684 for research, equipment and education, helping the Royal Children’s Hospital to continue to provide world-class care and support for sick children and their families. Oh, and over 750 wintery selfies were taken with our social media booths! #brrrrr ;)

The Spirit of CFA Youth Awards

 

THE SPIRIT OF CFA YOUTH AWARDS

The ‘Spirit of CFA Youth Awards’ was held on 20 May in Ballarat to honour the outstanding dedication and the extraordinary lengths volunteers and firefighters go to in helping one another and the community. BankVic is a proud supporter of the Country Fire Authority (CFA), and was honoured to be one of the major sponsors of the event this year.

The CFA is a leader in emergency services, not only in Australia but internationally, providing a wealth of important programs and services. The Spirit of CFA Awards is an opportunity to recognise individual contributions as well as showcasing the quality and depth of service provided by all CFA volunteers and staff to their communities. A truly inspirational group, Bailey Rhodes was awarded the winner of the ‘Youth Award’, Tyson Huggins was awarded the ‘Highly Commended Award’ and Deklan Brown was awarded the ‘Commended Award’ by our Chief Product & Marketing Officer, Heather McGovern who was honoured to present these awards on behalf of BankVic.

 


 

BankVic news

SOME GOOD NEWS FOR MEMBERS

BankVic are pleased to announce that we have removed 18 fees and at the same time, simplified the way we charge for cheques.

“As a member-owned bank we actively review our fees and costs and undertake initiatives to streamline processes. We are using new technologies and software programs which have enabled us to further remove fees for our members. We don’t make money from our fees,they are only ever there to cover our costs.”

- John Tripodi, BankVic Head of Products

FEES THAT WE HAVE REMOVED

You will no longer be charged for:

  • Overdrawn accounts - $9

  • Trace of funds sent by regular payment/external transfer– up to $22

  • Mistaken internet payment – up to $22

  • Dishonoured cheques - $19

  • Stopped cheques – $5

  • Cheque deposits – dishonoured cheques -$1.10 per transaction

  • Trace of paid cheques - $22 plus copy fee

  • Copy of paid cheque – up to $30

  • Deposit book voucher retrieval - $30

SIMPLIFIED CHARGE FOR CHEQUES

All fees for individual cheque transactions have been removed across all our transaction accounts.

Accounts

Previous charges

Charges as of
25 May 2018

Multipack, Deeming
and Line of Credit

$1.00 per cheque

No transaction cost
on each cheque
written. $10 per new
cheque book

Ezepay and Investor

$1.00 per cheque
transaction in excess
of 10 transactions per
calendar month

No transaction cost
on each cheque
written. $10 per new
cheque book

 

MORTGAGE DISCHARGE FEE

Our mortgage discharge fees were increased from $195 to $295 per property as of 25 May 2018. Whilst we have held off increasing this fee for some time, we have had to make this change to recover rising external legal fees and internal service costs required to manage this service

Our current fees and charges are listed in our Fees and Charges (PDF) . Or click here to view the fees we have removed.

If you have any questions about these changes, please call us on 13 63 73 from 8am to 7pm Monday to Friday or from 9am to 12pm Saturday. We would be happy to help you.

 



Tips to secure banking

 

With online and offline banking scams and fraud on the rise, it’s more important than ever to ensure you’re well aware and protected when using your debit and credit cards at a store,online, at an ATM or even when you receive unsolicited calls or emails.

Here are some handy tips to help you stay safe online and offline.

  • Always closely review your account. You can do this via online banking and by checking your statements. Please contact us as soon as possible if there are any unauthorised or unknown transactions.
  • Always remove your card from an ATM. Unlike Australia’s ATMs, some overseas ATMs (such as in Bali) may not prompt you to immediately remove your card.
  • Do not give out personal passwords. Not even to friends, family, or partners as you may be liable for any subsequent fraudulent activity.
  • Do not respond to e-mails that aren’t recognised, do not download or open attachments, or click embedded links that aren’t explicitly from a known and trusted e-mail address.
  • Be aware of fraudsters posing to be from BankVic or other companies (e.g. the ATO or Energy Companies) and if there’s ever hesitation, contact the companies directly using their direct phone number, general enquiry e-mail addressor via their social media page.
  • Be aware of mobile porting - call your mobile service provider to ask if they can add a keyword to your account.Call them immediately if you notice unexpected or unusual service outages.
  • Use a password to protect access to your mobile device and set your mobile device to lock automatically after a few minutes of non-use.
  • Social networking sites such as Facebook and Twitter store large amounts of personal information that could be used to conduct identity fraud. For example, information such as your date of birth can be used to verify your identity over the phone. Think about the consequences before posting information on these sites.
  • Securely dispose of sensitive documents - don’t simply throw your bank documents, bills etc. in the bin. These should be shredded or destroyed.
  • Secure your mailbox - use a padlock or PO Box and report any missing mail to the relevant provider.
  • Stay up to date with the latest online threats and how they can be managed. A free subscription service updating internet users is available at www.staysmartonline.gov.au. Another great Australian Government resource is www.scamwatch.gov.au.

Remember, a genuine organisation will never contact you to:

  1. request information or payment over the phone or
  2. request information or payment by e-mail or
  3. request bank account details or
  4. request you log into a computer

If you have any concerns at any time, please contact BankVic on 13 63 73 to discuss this further with one of our friendly staff. More information is also available on our website.



 

BankVic jargon buster

 

App PIN: Not to be confused with your card PIN (Personal Identification Number), an App PIN is the 4-9 digit pin you are asked to enter each time you log into the app. Other ways you can log into the app instead of an App PIN are: TouchID (for TouchID compatible iOS devices,or FaceID for iPhoneX) or a Pattern.

Contact Centre password: The password you provide verbally to the Contact Centre staff for identification when you call BankVic for any queries.This is the password that you chose when you joined BankVic.

Internet Banking password:The password you use to log in to internet banking and when registering your BankVic mobile app. You will also be asked for this password when you make an external payment/transfer using internet banking, mobile banking or the BankVic app.

Telephone banking PIN:The 4-6 digit PIN you use for the automated telephone banking system to enable you to check your account balances, make transfers between accounts or to make BPay payments.

Online banking:Online banking constitutes of all the following channels – internet banking, mobile banking and the BankVic app.

NPP:The New Payments Platform (NPP) is a world class payments platform that enables Australian customers of different banks to make and receive payments in minutes. Learn more here.

PayID: A PayID is a smart address for payments which is securely linked to a bank account. Your PayID can be an email address, Australian registered mobile number or ABN. Learn more here

Osko: Osko was built by BPAY to bring the capabilities of the New Payments Platform (NPP) to Australian banking customers.Learn more here.

Chargeback: A chargeback is a right exercised by a financial institution on behalf of the cardholder (of a debit or credit card)for the merchant to make good the loss on an unauthorised or disputed transaction within the Visa Scheme’s Chargeback Rules. For claims made outside the Scheme rules, BankVic will investigate the claim in conjunction with the ePayments code. For more information on the Visa Scheme’s Chargeback Rules please contact us on 13 63 73 or to view the ePayments code, visit www.asic.gov.au

 



Travelling overseas

TRAVELLING OVERSEAS?

MAKE SURE YOU LET US KNOW

To ensure the security of your cards and peace of mind while travelling overseas, it’s always a good idea to notify us of your travel

Simply complete our online form  before you head off or call us on 13 63 73 option 3 (8am-7pm Mondayto Friday or 9am-12 noon Saturday) to providethe following information:

  • what country/countries you’ll be visiting and when,
  • your contact details while you are away and
  • if you are intending to use your Visa card ormake any large external or BPAY® transferswhilst overseas.

More information on what else to consider before you leave is available here

 



  

$20k winner

INSURANCE

WIN $20K

COMPETITION WINNER

We are thrilled to announce the winner of our combined BankVic and CGU Insurance Win $20k competition!BankVic member Michelle Simpson is the winner of $20,000! Many congratulations to Michelle for winning the competition.

Many congratulations also to Lyle Whitten who was the winner of the $1,000 Visa Debit Card minor prize.



 

Police Financial Services Limited ABN 33 087 651 661 trading as BankVic | AFSL and Australian Credit Licence 240293. 07.18. 6649bv.