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FAQ
GeneralWhat is a BSB? Cards/ATMWhich ATMs can I use with my Queenslanders Redicard and Visa Debit Card? PhoneBanking & NetBankingHow do I get a PhoneBanking or NetBanking Access Code? BPAY®How do I use BPAY® Direct Debits/Periodical PaymentsWhat is a Direct Debit? LoansWhat is a Comparison Rate? What is a BSB?It is a code that identifies the bank and branch where you have your account. Queenslanders Credit Union’s BSB is 804 059. You’ll need this code when organizing direct debits, payroll deductions from your pay office, when you want to perform an electronic funds transfers via NetBanking. What type of identification do I need to provide when becoming a member?Up to and including 11 December 2007: You will need to provide identification to meet the requirements of the “100 point check”. You can use a number of items to make up 100 points, such as
From and after 12 December 2007: New federal government legislation (Anti-Money Laundering and Counter-Terrorism Financing Act 2006) comes into effect on 12 December 2007. The “100 point check” process will no longer be use. As a general rule, the following identification will be required: Identification Documentation – Persons This applies to a person who is an Australian Citizen or the holder of a New Zealand Passport.
Each person must provide the following as a minimum: Identification Documentation – Persons aged < 18 years This applies to a person who is an Australian citizen or the holder of a New Zealand Passport aged < 18 years. Each person aged < 18 years must provide the following as a minimum: Identification Documentation – Foreign Persons This applies to a person who is not an Australian citizen or the holder of a New Zealand Passport. Each foreign person must provide the following as a minimum: • Passport issued by a Foreign Government or the United Nations which includes a photograph and signature of the person. Where the Passport is issued in a language other than English it must be accompanied by an English translation by an accredited translator. See www.naati.com.au for list of accredited translators. Special provisions apply to children’s accounts, company accounts, association accounts and trust accounts. For further information about identification requirements, please contact us. I have moved house, what do I need to do?Advise us of your of new address details as soon as possible to ensure any correspondence or new or replacement cards are sent to your correct address. Click here to download a Change of Address form. If you have your home, contents and car insurance policies through Queenslanders – these will be amended automatically. If you have your insurance with another insurer then you’ll need to contact them so that they also reflect your new circumstances. Which ATMs can I use with my Queenslanders Redicard and Visa Debit Card?You can use your Queenslanders Redicard or Visa Debit Card at any RediATM in Australia without incurring an ATM Direct Charge fee. If you use another financial institutions ATM (i.e. non RediATM) then withdrawals will attract an ATM Direct Charge fee. You will be advised of the fee at the ATM before you conduct the withdrawal and will have an opportunity to cancel the transaction should you choose not to accept the fee.
How can I access my accounts while overseas?You can use your Visa Debit Card at any ATM overseas that displays the Visa symbol. If you cannot find an ATM, you can also request a cash advance at any bank branch displaying the Visa symbol. If you have a Redicard Plus you can access your linked account whilst overseas at any VISA PLUS ATM.
Can I use my Visa Debit Card or Redicard overseas?You won’t be able to use your Redicard but you will be able to use your Redicard Plus or Visa Debit Card. You can use your Redicard Plus or Visa Debit Card at any ATM overseas that displays the Visa symbol. If you cannot find an ATM, you can also request a cash advance at any bank branch displaying the Visa Card signage. If you haven’t upgraded from Redicard to Redicard Plus yet, please give us a call. All cash withdrawals overseas incur a fee, regardless of whether the withdrawal is at an ATM or a branch. For full details on our fees & charges, click here. You can use NetBanking whilst overseas. If you use NetBanking at an Internet Café, be sure to ask about virus protection on the computer you are going to use. You MUST LOGOUT after accessing your accounts to reduce the risk of another party seeing your account details. What is Verified by Visa?Verified by Visa is a new service that lets you use a password and Personal Assurance Message (PAM) with your Queenslanders Credit Union Visa card. Your password is as easy to use as your PIN at an ATM – and it means you’re the only one who can use your Visa card to make purchases over the Internet from participating merchants. For added security, your PAM confirms that you are connected to a legitimate website, and that your card is being authenticated by your credit union. Can I register with my existing Queenslanders Credit Union Visa card or do I need to apply for a new one? I have more than one card issued on my Visa account. How does Verified by Visa work for additional cards? After I register, how long does it take for Verified by Visa to start working? Do I need any special equipment or software on my computer? What is a Personal Assurance Message? How will the online store know that I have Verified by Visa? What if I forget my password? If I suspect someone has stolen my password or used it to make fraudulent purchases, what should I do? What should I do if I am shopping online and I don’t get asked for my Verified by Visa password? Can I change my PIN (Personal Identification Number)?Yes, but you must visit us in person, you cannot change your PIN over the phone, at an ATM or another financial institution. If you are unable to visit a branch, please call us to make alternate arrangements. I’ve forgotten my PIN, what do I do?You’ll need to visit a Queenslanders branch to organize a new PIN, you cannot change your PIN over the phone, at an ATM or another financial institution and we don’t keep records of your PIN on file. If you are unable to visit a branch, please call us to make alternate arrangements. What do I do if I lose my card?If you lose your card in Australia, or it is stolen you must arrange to have the card cancelled as quickly as possible. You can report your card lost or stolen by either:
If your card is lost or stolen overseas:
What do I do if my Redicard or Visa Debit Card is captured at an ATM?Captured cards are not returned to Queenslanders Credit Union. You will need to order a replacement card by coming into our Brisbane or Townsville branch or by calling us. There is a small fee for this service. What do I do if I find a fraudulent transaction on my account?If you believe a transaction on your account is fraudulent, you will need to complete either an ATM Transaction Dispute Form or a Visa Transaction Dispute Form, depending on the type of transaction. This will enable Queenslanders to investigate the transaction on your behalf, and request a copy of the voucher where necessary. Depending on the type of transaction it may take 21 – 45 days to receive an answer to your enquiry. We will notify you of the outcome by letter. If the transaction is shown to be correct as a result of our investigation, you will incur a fee for the investigation. For details of fees and charges click here. I have unauthorised Visa transactions appearing on my account, what do I do?If you notice a transaction on your account that you believe you didn’t perform, contact us immediately. It may be necessary for your card to be cancelled and a replacement card issued. You will need to sign and complete a Visa Transaction Dispute Form before an investigation can commence. A fee applies to Visa searches, but will be reimbursed if the investigation reveals that the transaction was unauthorised. Refer to our Fees and Charges brochure for details. Can I have a credit limit attached to my Visa Debit Card?Yes, we call this credit limit, a SmartCash facility. For more information about SmartCash click here. How do I get a PhoneBanking or NetBanking Access Code?Simply phone us on (07) 3218 7206 or 1800 177 278, we will give you an Initial Access Code. You’ll be asked to key in a permanent Access Code during your first use of PhoneBanking or NetBanking I’ve forgotten my PhoneBanking or NetBanking code, what do I do?Call us on (07) 3218 7206, we’ll reset your code. Please have your membership number ready to quote when you call us. How long will a PhoneBanking or NetBanking transfer take to reach an account at another bank or credit union?Transfers to accounts at other financial institutions will usually take 24 – 48 hours to arrive in the destination account. Please note that funds transferred on a weekend or public holiday may take longer as they will leave your Queenslanders account during end of day processing on the following business day. How do I use BPAY®?You can use BPAY® via PhoneBanking or NetBanking. To make your payment you will need to have your bill, showing the biller code and your customer reference number (this may change from bill to bill for some companies). The easy and safe way to pay If you haven’t already used BPAY, it won’t take long to learn. Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Make payments at any time, from your account With BPAY you can pay bills when it suits you – seven days a week, day or night. BPAY lets you make payments from your cheque or savings account plus, you can also schedule payments for a later date. Start paying your bills with BPAY today. It’s as easy as can B. ® Registered to BPAY Pty Ltd My BPAY® payment didn’t arrive, what do I do?Call us on (07) 3218 7200 and we will organise an investigation on your behalf. Please keep in mind that it may take 7 – 10 business days to complete the investigation. I made a mistake with the BPAY® payment amount how can I get the extra funds back from the biller?If you make a mistake in your payment amount and send too much, you will need to contact the biller to organise a refund of the extra funds. I sent my payment to the wrong biller, how can I get the money back from the biller?Call us on (07) 3218 7200 and we will organise an investigation on your behalf. Please keep in mind that it may take 7 – 10 business days to complete the investigation. How do I use BPAY® while overseas?You can use BPAY® while you are overseas, either via PhoneBanking or NetBanking. However, you can only pay bills to Australian companies. For more information about using BPAY® click here. What is a Direct Debit?A Direct Debit is a request you make to a company (i.e. your health fund or gymnasium) to debit your Queenslanders Account. If you want to cancel or change your Direct Debit, you must contact the debiting company directly. You can also request that Queenslanders debit your account at another financial institution – this is also a Direct Debit (we call these QuickDebits). However, we can only debit another financial institution, not a company. If you want to cancel or change your Direct Debit you must notify us in writing. What is a periodical payment?When you organise a Periodical Payment with Queenslanders, you are asking us to debit your account and send that money to another company (i.e. your health fund or gymnasium) or financial institution. The payment will usually arrive in the destination account in two business days. However, a fee is charged for this service, if possible organise a Direct Debit, as it is fee free. If you want to cancel or change your periodical payment you must notify us in writing. How can I change my pay splits?If you are not increasing or decreasing your total pay amount and only want to change the way your pay is split, simply call us and we’ll change this for you over the phone. If you’re increasing or decreasing the total amount of your pay, you will need to complete a Payroll Deduction form and return it to us. Click here to download the Payroll Deduction form. What is a Comparison Rate?A comparison rate provides an indicative interest rate that takes into account certain costs associated with setting up a loan. This rate includes the nominal interest rate/s, any loan approval and other up front fees and known ongoing fees. Government charges are excluded, as are fees and charges which may or may not be charged because they depend on an event which may or may not occur (e.g. fees for early repayment or redraw fees) and fees and charges which are not known at the time the comparison rate is provided. Why is the Comparison Rate being introduced? What is a Comparison Rate Schedule? As they use the same loan amounts and terms, comparison rate schedules can be used to compare the comparison rates of different loan products. Comparison rate schedules are available at our Brisbane or Townsville branches, as well as on our website. A relevant comparison rate schedule must also accompany any loan application that is sent or given to you by Queenslanders. How should I use Comparison Rates and Schedules? Remember that the comparison rate does not include government fees and charges or fees and charges that are only charged in certain circumstances. Therefore the comparison rate may not provide a complete picture of the total cost of a loan. It is important to consider all of a loan’s features and not just focus on the comparison rate. A comparison rate does not take into account features that may make a loan more attractive such as flexible repayment options. You should give consideration to whether these features are important to you and the effect they will have on the cost of the loan. Do I have to be a Queenslanders’ member to apply for a loan?No, anyone can apply. If you are not a Queenslanders member, prior to receiving the proceeds of the loan you will need to become a member. To become a member you’ll need to provide identification as detailed above and buy a $10 share. What can I borrow money for?You can apply for a Queenslanders’ Personal Loan for any worthwhile purpose, maybe you are looking for a car, a boat, a computer, or you just want to go on a holiday. SmartCash can be used for the same purposes as a personal loan; however, with SmartCash you don’t need to specify the reason for your loan application. You can apply for an owner-occupied home loan or an investment property loan. In fact you can borrow money for any worthwhile investment purpose. If you have a query about your particular financial situation please call us. How often do I have to make repayments on my loan?Queenslanders’ Home & Personal Loans are flexible. You can choose to make your repayments weekly, fortnightly or monthly. You can also make additional payments at any time without incurring a fee (except on Home Loans). How can I make repayments on my loan?You can make repayments to your Personal or Home Loan by any of the following methods:
How much can I borrow?Personal Loans: You can borrow from $1000 to $30,000 for any worthwhile purpose. If you would like to borrow more than $30,000 please let us know we may be able to help you with another loan product option. Car Loans: The amount you can borrow depends upon the age of the car you are buying. If your car is less than 24 months old, you may be able to borrow $40,000. If the car is older than 24 months, you may be able to borrow $30,000. Home Loans: The maximum amount we’ll lend is based on the amount that you can afford to repay. As a general guide, you can borrow up to 95% of the property’s value, up to 90% for a home loan refinance or purchase of vacant land and up to 80% of the property’s value when you take out a Home Action Loan. In some cases maximum repayments are usually 32.5% of your gross income. SmartCash: If you have a home loan with Queenslanders and 20% equity in your home, we will lend up to $20,000. If you have a home loan with another financial institution and 40% equity in your home, we will lend up to $10,000. If you want a more accurate amount please contact us. If you just want to get an approximate idea of how much you could borrow, try our Borrowing Power Calculator. And to find out what you’ll need to repay try our Loan Repayment Calculator . Once I have applied for a loan with Queenslanders, how long does it take to get the money?Home Loans: If you’re purchasing a new property, we’ll fund your home loan on the date your property settles. If you are refinancing your loan it generally takes 3 weeks to get the money and 2 weeks when topping up your loan. Personal & Car Loans: We generally fund your personal loan within 2 working days, however this process can be shorter if the money is required for an emergency, for instances, medical costs, funeral costs etc. Car loans can be funded within 24 hours. SmartCash: We can generally provide your SmartCash within 2 working days. All these timeframes are dependant upon getting the necessary application documents from you. I’m looking for a car; can I get a car loan approved before I go shopping?Yes, we can conditionally approve a personal loan for you before you buy. You just need to submit an application form with the necessary documents and let us know how much you want to borrow. Am I eligible for the $7000 First Home Buyers Grant?To find out whether you’re eligible, go to the National First Home Owners Grant website the state or territory you live in. Alternatively give us a call, we’ll help you with your grant enquiry. What fees are associated with a Home or Investment loan?When you apply for a Home or Investment loan you may incur fees for the following :
*Only applies if purchasing a new property or construction of a new propertyCan I make extra repayments on my loan?Yes you can make extra lump sum repayments on any of our loan products, however there is a “prepayment” fee attached to our home loans. If more than 20% of the total amount borrowed is repaid within 3 years, a fee of 0.7% of the excess may be charged. Why do I have to pay Lenders Mortgage Insurance (LMI)?Lenders Mortgage Insurance is a once off premium paid by the borrower at the time the home loan is taken out, to protect the lender against the possibility of the borrower defaulting on the home loan. This type of insurance is used across the entire mortgage industry and is not particular to Queenslanders. At the time of taking out a home loan with Queenslanders you are obliged to pay a Lenders Mortgage Insurance premium if the total loan amount exceeds 80% of the value of the property. The only exception is if you take out a Home Action Loan because we do not lend more than 80% of the value of the property with this particular loan product. There are also certain circumstances where you may need to pay Lenders Mortgage Insurance when you top up your home loan. What documents do I need to provide to apply for a loan with Queenslanders?You will need to provide us with the following:
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