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| We’re enhancing our Electronic Banking Services, which means we need to update some parts of our General Terms and Conditions (which include our Electronic Banking Services Terms and Conditions). |
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| Here’s a summary of what’s changing and why. You can get our full General Terms and Conditions here, or as a printed copy from any Westpac branch. |
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To improve your online security, we’re introducing “challenge questions” from 1 August 2010. You’ll be prompted to set up three questions and answers when you next log in to Online Banking. We’ll then use those questions if we ever need to double-check your identity online. If you’ve registered a mobile phone number you’ll also be able to receive activation codes and temporary passwords by txt. In future releases of Online Banking we may send verification codes to your mobile phone to complete some online activity.
To reflect these changes, we’ve amended our Electronic Banking Services Terms and Conditions: |
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We’ve added a section called “Online Guardian Challenge Service” to describe this new service. |
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We’ve introduced a new concept called “security details”, which includes Passwords, Challenge Questions, activation/verification codes and the other processes or security procedures you might need to follow. This appears in section 4, which details your responsibilities in relation to your Security Details. These are similar to your current responsibilities around passwords and customer IDs. |
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We’ve added and amended some definitions in section 18 of the Electronic Banking Terms and Conditions, including “activation code” and “verification code”, “challenge questions”, “Online Banking Guarantee”, “Online Guardian Challenge Service”, “registered mobile phone number”, “value transaction”, “Security Details”, “Westpac Banking on your mobile”, and “Westpac Electronic Banking Services”. |
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| From 1 August 2010, we’re making it possible to do more with your mobile. You’ll be able to get the balance on more than one of your accounts, and transfer money from one specified account into another. We’ll also be adding other services over time. These changes impact our Electronic Banking Services Terms & Conditions in four main areas: |
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We’ve defined a new term, “Westpac Banking on your mobile”, in section 18. From 1 August 2010 this will cover access to Txt banking, Txt alerts and certain aspects of the Online Guardian Challenge Service. |
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We’ve updated the provisions around “Access to Westpac Electronic Banking Services” (now section 2) to include details on how to register your mobile phone number using Online Banking, Phone Banking, our call centre, or at a Westpac branch. |
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We’ve removed the parts about using a password for Westpac Banking on your mobile, especially for Value Transactions, which was previously in section 1. Once you’ve registered your mobile phone number you won’t need a password to access Westpac Banking on your mobile, and if you’re registered for Txt Banking you’ll be able to carry out Value Transactions on the go by transferring amounts from your nominated savings account to your nominated current account. |
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We’ve amended the provisions for cancelling services (now section 14), as you can now cancel specific Banking on your mobile services through Online Banking, Phone Banking, our call centre or in branch. |
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| Before the end of 2010, Online Banking customers will be able to open additional accounts online, including term investments, even if we still need to verify your ID or get the authorisation of a joint account holder. Until that action is taken, you’ll have limited use of the account, which will be called a “Restricted Account”. That’s led to these changes to our General Terms and Conditions: |
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We’ve amended the General Terms and Conditions to clarify that you can’t withdraw funds from a Restricted Account (including a matured term deposit) until the required actions have been correctly completed. |
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We’ve confirmed that we treat joint accounts as being held as joint tenants. |
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We’ve added a new section, “Restricted Accounts”, detailing when an account will be restricted, and what that means. |
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| Our General Terms and Conditions have always included provisions around your instructions to us. We’ve now consolidated those provisions in the front of our General Terms and Conditions, in a section called “Instructions”. |
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| Our General Terms and Conditions have always included provisions around your instructions to us. We’ve now consolidated those provisions in the front of our General Terms and Conditions, in a section called “Instructions”. |
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| This section now covers your authorisation for Westpac to act on your instructions by any means using your PIN, registered mobile phone number or Security Details. It also covers the limits on Westpac’s liability where we act on those instructions and your indemnity to Westpac if we incur losses by acting on those instructions. |
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| These details are currently provided in the Electronic Banking Services Terms and Conditions, on account opening forms and in various screens in Online Banking. |
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| If you’d like a full copy of our new General Terms and Conditions, they’re available online here, or as a printed copy at any Westpac branch. |
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