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CREDIT CARD UPDATES: IMPORTANT CHANGES TO CREDIT CARD TERMS AND CONDITIONS


Effective 27 June 2024, we’re making changes to the BankSA Credit Cards Terms and Conditions. These changes include some that we consider will benefit you:

  • We have clarified in clause 6.1 (“How much you have to pay each month”) that, if you cannot make a payment, you should contact us “promptly” rather than needing to do it “immediately”.
  • In clause 8.1 (“Security problems and transaction disputes”), clarified that, where you elect to dispute a transaction, you should notify us within a reasonable period (rather than strictly within 14 days).
  • In clause 9.4 (“What you must do when a Card is cancelled or the Card Account is closed”), we have:
    • Removed reference to any timeframe required for you to destroy your Card once your Card Account is closed (however, it is in your interests to do this within a reasonable period); and
    • Clarified that, when your Card Account has been closed or a Card has been cancelled, you must either destroy any Additional Card or instruct the Additional Cardholder not to use the Card – given that, although we may have placed a stop on the Card Account, the Additional Card may still be used in some circumstances that are outside of our control (for example, relating to how the card scheme operates).

Other changes we have made include:

  • In clause 2.3 (“Additional Cards”), we have clarified that you must ensure that Additional Cardholders confirm that they have read the Terms and Conditions as you remain responsible for all aspects of the Card Account, including usage by the Additional Cardholder.
  • Adding clause 3.8 (“Processing of transactions”) to clarify that the order in which we process transactions can affect how they are treated, including for the purpose of applying interest charges.
  • Adding a new clause 4.3 “Checking your statements regularly”, in which we ask that you check your statements regularly and contact us if you see an error.
  • In clause 9.2, we have added our right to cancel or block the card account without notice where we reasonably believe the use of an account has caused harm (including financial abuse) to another person.
  • Amended the “Right of Variation” clause 10.3 to confirm that, where we change the annual purchase rate or fees we may now notify you by (among other means) publishing a notice, for example on our website or our online banking app, or a combination of these means.
  • Providing clarification of the Foreign Tax Residency disclosure requirements. We may be required to limit the services or products we provide to you, including but not limited to not originating a service or product to you.

These changes above are not an exhaustive list. Please find a full set of BankSA Credit Cards Terms and Conditions (PDF 309KB) as they will apply following the amendments.