Common banking terms

When dealing with BankSA, you may often come across terms that seem confusing and make it hard for you to make choices about certain aspects of your banking. To help you we have put together the following explanations of some of the key terms.

Approved Overdraft facility

An approved overdraft facility is a facility that allows you to draw credit up to an approved credit limit on your account.

ATM Mini Transaction history

A mini transaction history is a list of the last 10 transactions which can be printed from any BankSA ATM or the last 8 transactions from a BankSA Electronic Agency. Please refer to your Bank Account Fees and Charges for more information. 

BSB

BSB is an acronym for Bank State Branch number. This six-digit number represents your bank and the branch where your account is held. You will need this number when setting up automatic payments such as periodical payments or direct debits between BankSA and another party.

You can find the BSB on the top right-hand side of your account statement or in the “Account Information” section, next to the Account Number listing when you log onto Internet Banking. If you have a chequebook with your account, your account BSB is also printed on each cheque, in between the cheque number and the account number.

Customer Contact Centre

You can call our Customer Contact Centre on 13 13 76, Monday to Saturday 7.30am to 7.30pm, for any of your account enquiries.

Deeming rates

The Federal Government sets the deeming rates based on assumed rates of return on financial investments.

Direct Debit

A direct debit is a transfer of funds from your BankSA account drawn under a direct debit request you have given a third party.

Email Alerts

Account information that is provided to you via Email. Once you register for this service, you can request specific information such as account balances, deposits or withdrawals. Read more about Email Alerts. 

Internet Banking

Internet Banking is an electronic means of accessing your account information and conducting your banking online. You can access transaction information as well as transfer funds and pay bills using BankSA Internet Banking.

Mobile Banking

Mobile Banking allows you to bank from your mobile phone. Please note that mobile banking is only supported on certain brands of mobile phone with appropriate display technology. Learn more about Mobile Banking.

Maestro and Cirrus

Maestro and Cirrus are international networks of EFTPOS terminals and ATMs. Generally, BankSA Maestro/Cirrus ATM cardholders have access to ATMs overseas displaying the Cirrus logo. Just look for the MasterCard^® Cirrus or Visa^® Plus logos on ATMs

Non-BankSA branded ATMs

Any ATM that is not  BankSA/St.George/Westpac branded

Interest Offset facility

An Interest Offset Facility is an arrangement with the Bank that allows you to offset the interest you would earn on your transaction account against interest you pay on your loan account. Learn more about Interest Offset.

Other bank ATMs

Refer to non-BankSA/St.George/Westpac branded ATMs in Australia.

Periodical Payment

Periodical Payment is a transfer of funds that we make on a regular basis at your request from your BankSA account to another specific account.

Phone Banking

A telephone banking service that allows you to perform transactions and access information about your account using any touchtone telephone. Read more about Phone Banking.

SMS Alerts

Account information that is provided to you using your mobile phone via Short Message Service (SMS). Once you register for this service, you can request specific information such as account balances, deposits or withdrawals. Read more about SMS Alerts.

BankSA branded ATMs

An ATM that is BankSA branded in Australia.

Visa^® Debit Card

A debit card that displays the VISA^® logo and lets you access your account through the global VISA^® network. Read more about Visa^® Debit Card.

Visa Plus

Visa Plus is an international network of ATMs. Generally, BankSA FreedomCard ATM cardholders have access to ATMs overseas displaying the Plus logo.