Frequently Asked Questions

Want to find out more about Regional Australia Bank? Got some questions about Home Loans? Or how to bank securely online? The answers to these and more can be found here.

Find the answers to some of our most common questions here. We understand that some things are a little more complex, so if you don't find the answers you are seeking get in touch with us and our helpful staff will assist you.

General

What is Regional Australia Bank’s BSB number?

932-000

How do I open an account with Regional Australia Bank?

To open an account with us simply contact us on 132 067 or visit one of our branches and our friendly staff will be able to assist you.

I’ve changed my address or phone number, how do I notify you?

You can either contact us on 132 067, or alternatively you can update your details within Internet Banking1

I need a bank statement or transaction list, how do I organise this?

You can access your statements online if you have registered for online statements

You can also produce a transaction list yourself through your Internet Banking1.

If you have access to Internet Banking and would like to make the switch for online statements for future statements simply log into Internet Banking, navigate to ‘settings’ and then ‘online statements’1.

If you do not have Internet Banking please contact us, call 132 067 or visit your local branch and we can print the statement for you.

Everyday banking

What is the daily withdrawal limit for ATMs?

$1000 per day

Which ATMs are fee free?

You can use any Regional Australia Bank ATM without incurring any fees4.Transactions at other financial institutions’ ATMs may incur a fee.

How do I cancel a direct debit?

As a direct debit is an arrangement you have organised with a merchant we do advise you to contact the merchant directly to cancel the direct debit authority to prevent incurring possible charges. By us cancelling the authority, it does not cancel the legal arrangement you have in place with the debiting company.

To request a stop you can contact our Service Support Centre on 132 067, visit your local branch or complete and email the Direct Debit Cancellation Form to [email protected].

I don’t live near a Regional Australia Bank branch, how can I deposit cash or cheque into my account?

Through our partnership with Australia Post, Bank@Post allows you to withdraw and deposit funds3

Someone from overseas wants to complete a transfer to my Regional Australia Bank account, what details do I need to give them?¹

You can receive money from overseas using our Convera international payment service by completing a Payment Instruction Online Form and sending it to the payee.

  1. Complete the Payment Instructions Online Form to generate payment instructions for your payee.
  2. Choose the country you are receiving funds from.
  3. Complete the relevant information in the online form and submit.
  4. You will then receive an email from '[email protected]' with payment instructions attached.
  5. Send the payment instruction to your payee.

 

Find more information about sending and receiving money overseas in International Payments.

What are the cut off times for transfers?

Transfers to another Regional Australia Bank account (completed without a BSB) are usually processed instantly- 24 hours a day, 7 days a week.

For transfers to other institutions (using a BSB), we make every effort to ensure that transfers completed before 4:30pm (NSW time) on business days will be sent to the receiving institution that same day. However, this may not always be possible due to circumstances out of our control. Similarly, availability of funds is also subject to the transfer being processed by the receiving institution.

What details do I give out for funds to be credited/debited from my account to an external account?

You will need to provide the following:

  • Name against account
  • BSB: 932 000
  • Account number (your member number)

Please note that if any of these details are incorrect credits or debits may be rejected.

What details do I give out for funds to be credited/debited from my account to another Regional Australia Bank Account?¹

You will need to provide the following:

  • Name against account
  • Account number (your member number), plus the account type, i.e. 123456S3

Please note that if any of these details are incorrect credits or debits may be rejected.

Where is my payment?¹

If you are waiting on a payment to come through to your account, please note that it can take 24-48 hours to reach your account from the time it was sent. If it has been over 48 hours you can contact us on 132 067 and we can check whether your payment has been received or it has been rejected by Regional Australia Bank for any reason.

Home loans5

How much home loan deposit do I need?

To get formal approval for a home loan, you will need a deposit that is at minimum 20% of the purchase price/value of the property, plus costs such as stamp duty, government registration costs & your solicitor or conveyancing costs.

If you do not have a substantial deposit saved, your lender may be able to provide you with a home loan with as little as a 5% deposit, by taking out Lenders Mortgage insurance.

It may also be possible for loved ones to act as a guarantor for the amount you need for a deposit for a short period. If this sounds like an option for you, then check out our Head Start Family Guarantee Home Loan for more information.

What can count towards a deposit?

Genuine savings are the typical source for a home loan deposit. These savings can be classified as monies held for three months or more in Bank Accounts / Term Deposits.

There are also a variety of other options that can be counted towards a home loan deposit.

These include:

  • Equity in Residential Property
  • Funds from sold investments such as shares
  • Employee funded additional superannuation (not mandatory employer contributions)
  • Redraw/additional advance Funds in a Mortgage, Personal Loan or Line of credit
  • Proceeds of Sale of other assets
  • First home owners grants
  • A non-repayable gift from a family member
  • Inheritance

What is lender's mortgage insurance (LMI)?

Lender's Mortgage Insurance is a third-party insurance premium put in place to protect the lender if you're unable to repay your home loan. This is required when borrowing more than 80% of the property's purchase price/value.

Can I get a First Home Owners Grant from the government?

There is a range of different grants first home buyers may be eligible for, these include:

  • The First Home Super Saving Scheme- First home buyers can contribute an additional $30,000 to their deposit by taking it from their super fund. This can be done by making up to $15,000 each financial year in additional voluntary contributions.
  • First Home Owner Grants- Under the scheme, a one-off grant is payable to first homeowners that satisfy all the eligibility criteria.
  • Transfer Duty or Exemption - As a first home buyer, you may be eligible to receive an exemption or concession on your transfer duty (previously known as stamp duty).
  • First home loan deposit scheme (FHLDS) – Only 10,000 of these grants are given out each financial year. Eligible first home buyers can purchase a home with as little as a 5% deposit without needing to pay for lenders mortgage insurance. The Australian Government provides a guarantee to the participating lender to eligible approved applicants.

What costs do I need to consider?

There are many different costs to consider when purchasing a property and everyone's circumstances are slightly different. Your lender will be able to provide you with guidance on how and when these costs may be charged.

These costs may include:  

  • Deposit
  • Stamp duty
  • Legal fees and solicitor/conveyancing costs
  • Property valuation costs
  • Lenders mortgage insurance if applicable
  • Building and pest inspections
  • Bank, Government and 3rd party fees as set out in our fees and charges brochure
  • Home and contents insurance

What is Loan to Value Ratio (LVR)?

Loan to Value Ratio (LVR) is a measurement of the property value vs the loan amount, as a percentage. This can also give an indication of the minimum deposit required. E.g. With a property security value of $400,000, 80% of the value is $320,000, therefore a 20% deposit would be 80,000. If for the same property and only a loan of $100,000 is required, the LVR would be 25%.

Is fixed or variable better?

Deciding on a fixed or variable home loan is an important decision when purchasing a home. There is a range of essential factors and benefits which will assist you in this decision-making process.

One of the main differences between fixed and variable, is that with a variable rate home loan, you are able to make extra repayments that you can redraw at any time. This could allow you to pay off the loan quicker and reduce the amount of interest that is charged.

We have specialist staff that will work with you to help you weigh up each loan's advantages and disadvantages, along with an assessment of your current personal and financial situation. That information will help you be able to determine how best to pay off your home loan.

A great way to compare the differences at home is to use our handy comparison tool to put each loan side by side and discover the main differences.

What is a fixed rate home loan?

A fixed-rate home loan is when the borrower elects for their interest rate to be locked in for a period of 1 to 5 years and not change like a variable rate home loan. The main advantage of a fixed rate home loan is the certainty of knowing what your repayments are going to be for that period. When purchasing a property with a fixed rate, you'll be protected from interest rate rises but not benefit from an interest rate drop. Fixed home loans offer confidence to plan and set financial goals. At the end of the fixed rate period, you can elect to re-fix for another period or convert to a variable rate home loan.

What is a variable rate home loan?

A variable rate home loan is a home loan with an interest rate that is subject to change. The Australian and global economy plays the most significant role in effecting Australian home loan interest rates as the Reserve Bank of Australia (RBA) elects Australia's official cash rate. Changes in market interest rates and business decisions made by the lending institution can also play a part in varying an interest rate.

What is a split loan?

A split loan is when you want to have your cake and eat it too. It is a combination of both variable and fixed rates for your home loan. You can elect for a portion of your home loan to be fixed and the other portion of it to be variable. Use our handy split loan calculator to find out if and how much of your loan you might want fixed.

What is an interest-only loan?

For an agreed and limited amount of time only, you can elect to pay off just the interest that your financial institution is charging on your home loan, without actually paying off any of the principle and reducing the size of the borrowed amount. An example of this structure would be a client who is in the process of building a property and the facility would be interest only for 12 months during construction.

FYI: We also look at interest-only repayments for Head Start Guarantees – the larger loan in the borrowers name is put on interest-only for 48 months to allow the additional guarantee loan/ portion to be paid off quicker to release the guarantor's liability earlier.

We will convert a loan to an interest-only for other reasons – each case is considered on its own merits.

How do I apply for a home loan?

It's simple. Visit our home loans page and apply online today! A Home Lending Specialist is also available to assist with any of your questions and your application.

Security

I am trying to make a purchase online and it's asking me to enter my Visa Secure details, what does this mean?

Visa Secure is a free, online security layer designed to protect you and make Internet transactions safer at participating merchants.

When shopping online with a Visa Secure retailer, we will assess the security of the transaction, and where we determine there is a potential risk, you will be requested to provide additional information to confirm your card isn't being used without your permission. The questions we will ask will be personal information we hold about you and are not sent to the retailer.

For more information see our Visa Secure page or read more at Visa


I have lost my card, what do I do?

If your Regional Australia Bank Credit Card, Visa Debit Card or Access Card has been lost or stolen, please contact us on 1800 648 027 immediately so we can stop all transactions on your account.

You can also contact the Service Support Centre on 132 067.

If you're currently overseas please phone +61 (0)2 8775 9181.

Regional Australia Bank Mobile Banking App users can also report or block cards via the card management section within the app.

For more information, please see our Lost or Stolen cards page.

I'm planning on going overseas, what do I need to do?

If you are planning on going overseas in the near future, please contact us on 132 067 to advise us of the dates that you will be away and where you will be travelling to. This is so we can safely monitor your account for possible fraud. You may also need to provide an alternate contact number prior to leaving Australia in the case that fraud is evident.

If your card is lost or stolen whilst overseas please contact us +61 (0)2 8775 9181.

I've been contacted by the Regional Australia Bank Fraud Department - what does this mean?

If you have been contacted by our Fraud Department, we have detected a suspicious transaction on your account.

We will contact you to verify the transaction details and confirm that you are the legitimate account holder.

As part of Regional Australia Bank's commitment to fraud prevention and detection, our team may call, email, or SMS you to confirm a transaction.

From time to time, we may send you an SMS from our Fraud Department to confirm card transactions.

  • Please call the 1300 705 750 number provided in the SMS.
  • You won't be able to reply to the SMS. 
  • If you are unsure about the validity of the SMS, please call 132 067 to be transferred to the Fraud Department.
  • Remember that we never ask you to disclose your PIN or personal banking details.
  • If you think you have been the victim of a scam, please call 132 067.

 

What do I do if I notice a transaction on my account that I have not made?

You will need to contact the Service Support Centre on 132 067 or go into one of our branches to dispute the transaction/s.

If it is outside our operating hours (8.00am - 6pm weekdays, 8.30am -12 noon Saturday) please call the Lost/Stolen Card Hotline on 1800 648 027 to have your card cancelled immediately and contact the Service Support Centre on 132 067 or go into one of our branches to dispute the transaction/s during business hours.

A formal dispute will commence once all necessary paperwork has been received, this process can take up to 45 days for Visa transactions and 21 days for EFT transactions. Please note that these time-frames may be extended and you will receive written notification to advise of this.

What system security is in place for Internet Banking?1

Regional Australia Bank take the security of your personal details and financial transactions very seriously and as such we utilise industry leading security systems, fraud prevention tools and transaction monitoring to ensure your online banking experience is secure.

See our Security tips for internet banking for more information on how to stay safe online.

Internet and Mobile Banking

How do I apply for Internet Banking?1

You can register for Internet and Mobile Banking via our online registration form, calling our service support team on 132 067 or visiting your local branch.

Does my login password expire and if so, when will I know to reset it?

When your login is due to expire you will be prompted to create a new password. You cannot reuse a previous password.

What do I do if I've forgotten my Internet Banking password?1

If you have forgotten your password you can process a password reset using our password reset page, by calling the friendly team at our Service Support Centre on 132 067 or by visiting your local branch.

If you know your password but simply want to update it then please login into Internet Banking and change it under settings/password.

How much does Internet Banking cost?1

Access to the Regional Australia Bank's internet banking service is free, however some transactions completed using internet banking may attract a fee. Please refer to our Fees and Charges for specific transaction details.

Will I be charged for using the one-time password service?1

There is no charge for the use of security tokens or SMS one-time passwords. However, if your token is lost or damaged as a result of misuse you may be charged a fee to cover the cost of a replacement. See Fees & Charges for details.

 

What happens if I misplace, lose or break my security token?1

For the security of your account, please let us know immediately if you have lost your security token by contacting us on 132 067. We will disable the old security token and organise a new one which will need to be registered to your login.

Do I need to install software to use Internet Banking?1

You do not need to install any software from Regional Australia Bank to access Internet Banking.  However, it is recommended you have an up to date web browser installed on your computer to make use of the additional security features, speed and customisations provided by browser manufacturers.

What browser does Regional Australia Bank Internet Banking support?1

For the best online banking experience and security features, Regional Australia Bank recommends using one of the following free and reliable browsers when accessing Internet Banking.

Windows-supported browsers
  • Google Chrome (latest version)
  • Mozilla Firefox (latest version)
  • Microsoft Edge (latest version)
Mac-supported browsers
  • Google Chrome (latest version)
  • Safari (latest version)
  • Mozilla Firefox (latest version)
Update your web browsers

Keep your web browsers updated to the latest version so websites render properly and you have the latest security features. To update a browser, refer to their documentation:

Why does Regional Australia Bank recommend updating your browser?

Regional Australia Bank recommend if you are not using the most up to date version possible, that you upgrade your browser to a newer version that can:

  • Provide you with additional security features (newer browsers protect you better against scams, viruses, Trojans, phishing and other threats);
  • Increased browser speed (every new generation of browser improves load times)
  • Improved website compatibility (websites using new technology will be displayed more accurately);
  • Use new features and customisations to give you more comfort and a better online experience.

Outdated browsers provide limited features, bugs and operating faults, and a security risk to those using them.
If you can’t change your browser because of other requirements please consider installing a second browser for Internet Banking.

If required please speak to your network or computer provider.

How do I update my contact details on Internet Banking?1

Log into Internet Banking, navigate to ‘settings’ and then to ‘contact details’.

What security can I have on my account?1

Regional Australia Bank offers a range of security options to protect your banking while online including SMS alerts for selected transactions and changes as well as Security Tokens. To select the option that best suits your needs please contact us on 132 067.

 

I need to make a large external transfer on Internet Banking which may be over the daily limit, what do I do?

If you require to make an external transaction online which exceeds your daily limit, you will need to contact us on 132 067 or visit your local branch and our friendly staff will be able to assist you.

Can I export and import a transaction file?

You can export your transactions into the following formats

  • CSV: Comma Separated Values, Generic format for spreadsheets
  • OFX: Open Financial Exchange  
  • OFC: MS Money Format
  • QIF: Quicken Format

To do this, select the account on the Internet Banking home page and click ‘Download Transactions’ and follow the prompts.
If you need to make multiple, regular payments such as salaries to staff or BPAY payments you can upload an ABA file into our Batch Payment service. Select ‘Batch Payments’ from the ‘Transfer’ menu option.

How do I download the Regional Australia Bank Mobile App?1

Search ‘Regional Australia Bank’ on your Apple or Google Play store and simply download2. To set up your password you will need to login with your Internet Banking password and you will be prompted to create an individual password for when you use the app.

PayTo

What is PayTo?

PayTo is a new digital payments service you can use to pre-authorise one-off or recurring real-time payments from an eligible bank account to an authorised third party. It’s an alternative to the current direct debit system.

Who offers PayTo?

NPP-enabled banks, building societies, credit unions and payment service providers are expected to support PayTo for their payer customers. Once available, PayTo will roll out progressively from merchants, service providers and other users that have opted to integrate PayTo.

1. Merchants will offer PayTo as an alternative payment method for products and services such as subscriptions, online or in-app purchases.

2. Businesses may use PayTo to authorise third parties to manage payments on their behalf, such as payroll and accounts payable.

3. Third parties such as fintechs and payments service providers may incorporate PayTo into their own service offerings to broaden their capabilities.

How does PayTo work?

A PayTo agreement is agreed between a Member (Payer) and a business, institution or Merchant (Payment Initiator or Payee). PayTo agreements can be authorised within a Member’s Internet Banking where they can also pause, resume or cancel a PayTo agreement.

How do I set up a PayTo agreement?

You can set up a PayTo agreement with a merchant or business that offers PayTo as a payment option..

What is my daily limit for PayTo payments?

There are no daily limits for a PayTo Payment Agreement.

How can I manage my PayTo Payment Agreements?

You can manage your PayTo agreements within Internet Banking.

Can I provide my bank details to a Merchant or third party to set up a PayTo agreement?

To set up a PayTo agreement you can provide the merchant or payment initiator with a PayID you have created for your account, or your account’s BSB and account number (being either the unique account number or your member number together with your account code e.g. S1).

You are responsible for ensuring that the PayID or BSB and account number you provide for the purpose of establishing a payment agreement are correct. Any personal information or data you provide to a merchant or payment initiator will be subject to the privacy policy and terms and conditions of the relevant merchant or payment initiator. You should not set up a payment agreement with a merchant or payment initiator using only your BSB and member number without the unique account code (e.g. S1). If you do, we will reject the payment agreement.

Do I need to use a PayID with PayTo?

PayTo agreements can be created using a PayID linked to your bank account or by using your BSB and account number.

How much does it cost to use PayTo?

Registering for PayTo is completely optional and there are no Regional Australia Bank fees for you to use it.

What happens if I have insufficient funds in my account for a PayTo Payment?

A real-time funds availability check occurs at the time of a PayTo Payment. If there are insufficient funds, the payment will be rejected and the organisation (Merchant or business) initiating the payment will be notified.

The Merchant with the customer, can either arrange an alternate payment method such as cash, cheque or card, or select the option to resubmit a PayTo Payment.

How will I know a payment has been successful?

You can log in to Internet Banking to check the transaction status of a payment.

What happens if I cancel a PayTo Agreement?

You can cancel a PayTo Agreement just like you can cancel other payment options such as direct debit. However, cancelling a PayTo Agreement does not cancel your contractual obligations.

Is PayTo a replacement for direct debit?

PayTo is offered as an alternative to the current direct debit system. It can be used for a range of different recurring payment types, including fixed or variable payment amounts and frequencies.

I’m not familiar with a PayTo transaction that has appeared on my account

We will investigate your complaint and we may request that you also endeavour to resolve the complaint with the Merchant or business first.

Can my existing direct debits be moved over to PayTo?

If you have an existing direct debit arrangement with a Merchant or a Payment Initiator, the Merchant or Payment Initiator may choose to create a Payment Agreement for the direct debit arrangement to process payments as PayTo Payments instead of as direct debit payments.If a Merchant or a Payment Initiator does this, you will be notified by them that your future payments will be processed from your account through PayTo and you will then have the option of telling the Merchant or Payment Initiator that you do not consent.

If a direct debit arrangement you have set up using only your member number (instead of either your unique account number or your member number together with your account code e.g. S1) is migrated to PayTo as a Migrated DDR, we will allocate it to any of your accounts that allow PayTo in our discretion and the account the Migrated DDR is set up for may be different than the account the direct debit arrangement was previously set up for. Where this is the case we may change the account we have allocated the Migrated DDR to in our discretion, from time to time, unless you have instructed us to change it to a specific account number

How do I cancel a PayTo agreement from my transaction account?

You can cancel the PayTo agreement yourself from Internet Banking.

How do I change a PayTo agreement from another financial institution to my bank or vice versa?

It is not currently possible to transfer a Payment Agreement between accounts with us and accounts with another financial institution. If you want to change a Payment Agreement to an account with another financial institution, you must contact the Merchant to create a new Payment Agreement with the new account details.

Can someone create or manage a PayTo account on my behalf?

An individual’s PayTo Payments are managed online by the account holder. There may be certain circumstances where an authorised signatory can contact the Bank on your behalf.

Is PayTo safe?

PayTo Payments can only be initiated from a bank account if a PayTo Agreement has been pre-authorised by you, the Member. This authorisation is subject to the same levels of security as other payments and transfers from bank accounts.

Could PayTo be susceptible to fraud?

PayTo Agreements are authorised via your Internet Banking account. As with all payment methods, you should be alert to scams and not provide your Internet Banking log in and password details to anyone. When authorising a PayTo Agreement, you are provided with the relevant payment terms by the Merchant or business, so you are aware of what you are authorising.

How can I obtain information on my PayTo action history?

If you would like to know the action history of your PayTo Agreements, you can contact the Bank directly.

Where can I find more information?

Click here for more information about PayTo. PayTo is an initiative from NPP Australia.

Digital Wallet FAQ

Can I use my digital wallet overseas?

Yes, however, it’s important you set-up or activate your card in your digital wallet before heading overseas. If you don’t have international roaming enabled on your device, you may encounter technical issues such as receiving your One Time Password.

What should I do with my digital wallet when I receive a new or a replacement card?

If you've received a new card your digital wallet will automatically update to take payments from your new card. If your tokens were removed from your digital wallet due to fraudulent transactions, you may need to remove your old card and register your new card. If you require assistance during this process visit us in branch or call us on 132 067

What if I suspect fraudulent transactions on my digital wallet?

Whether you use a digital wallet or a physical card, you are protected against fraudulent transactions. If you are concerned about fraud on your account, please contact the Regional Australia Bank Fraud Department immediately on 1300 705 750 so that we can assist you in protecting your account. .

If I sell or give my device to someone else, what will happen to the digital wallet information in the device?

If selling or giving away your device you should make sure you delete all cards in any digital wallet. Alternatively, you may reset your device to factory settings which will also remove all token accounts. .

If I lose my device and if someone starts using it to make purchases, am I liable for those purchases?

Whether you use a digital wallet or a physical card, you are protected against fraudulent transactions. If you are concerned about fraud on your account, please contact the Regional Australia Bank Fraud Department immediately on 1300 705 750 so that we can assist you in protecting your account.

How will digital wallet purchases appear on my statement?

Digital wallet transactions appear on your statement the same as any card transaction performed on your account.

What payment information will be on my receipt when I pay with a digital wallet?

Receipts should look the same as they always have. However, in some cases, receipts created from digital wallet purchases may display the last four digits of the token provided to the merchant (these four digits may differ from the last four digits of your physical card).

Disclaimer
  1. Please Refer to Account and Access Facility Conditions of Use.
  2. Apple is a registered trademark of Apple Inc. App store is a service mark of Apple Inc. Android is a trademark of Google Inc.
  3. Fees and charges may apply, please refer to our Fees and Charges.
  4. ATM transactions with institutions other than those listed may incur third party charges.
  5. This article does not constitute formal advice from Regional Australia Bank Ltd and this information has been provided for general information purposes only.