Changes to Terms and Conditions and Privacy Documents

Effective 2 June 2025 we are updating our Terms and Conditions for Savings Accounts and Payment Services, Privacy Policy and Privacy Notice. These changes will coincide with the new Confirmation of Payee service coming soon.

The new Terms and Conditions for Savings Accounts and Payment Services will be available on our website at www.qudosbank.com.au/support/legal.

The new Privacy Policy and Privacy Notice will be available on our website at www.qudosbank.com.au/privacy.

We encourage you to review the new Terms and Conditions once available on our website to understand how these changes may affect you. Below is a summary of the changes for your convenience.

‍Summary of Changes to Terms and Conditions – Section 27 (Confirmation of Payee)

• Confirmation of Payee   Service: From 2 June 2025, your account name and number may be used and disclosed as part of the industry-wide Confirmation of Payee service to help reduce mistaken payments and scams.
• Use and Disclosure of Your Account Details: You consent to us and payers’ financial institutions using and disclosing your account details to verify payment instructions before funds are sent to your account.
• Opt-Out Option: In limited circumstances, you may request to opt out of Confirmation of Payee checks. However, your details will still be used by government agencies in relation to them making a payment to you.
• Alternate Account Names: You may request to record alternative names on your account to support the Confirmation of Payee service.

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Please contact us if you have any questions or require further information.