e-banking Telegraphic Transfer

e-banking Telegraphic Transfer
e-banking Telegraphic Transfer
Terms & Conditions
23 January 2009
www.bendigobank.com.au
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e-banking Telegraphic Transfer
The following terms and conditions apply to all Outgoing
2.2
You acknowledge and accept that we are not
Telegraphic Transfer Requests processed by Bendigo
obliged to effect a Telegraphic Transfer if all of
Bank (“Telegraphic Transfers”).
the above information is not provided or any of it
is incorrect.
These Terms and Conditions must be read in conjunction
with the terms and conditions that apply to Bendigo
2.3
We are not responsible for the accuracy of
e-banking and the terms and conditions that apply to
information provided to us by you. It is your
any account(s) you have with Bendigo Bank (“us”).
responsibility to confirm all details are correct
The terms and conditions are set out in the applicable
prior to selecting the “Approve” button on each
Bendigo Bank Product Disclosure Statements or Terms
Telegraphic Transfer.
and Conditions. A copy of our Product Disclosure
2.4
We recommend that you ensure that all details
Statements or Terms and Conditions can be obtained by
provided for a Telegraphic Transfer have been
contacting any of our branches, by telephoning Bendigo
verified with the beneficiary prior to processing, in
OnCall on 1300 366 666 or by visiting our website at
order to ensure prompt delivery.
www.bendigobank.com.au.
2.5
If you request us to amend any details provided
You should read these terms and conditions carefully
by you after we have sent the payment we cannot
and ask us if you have any questions.
guarantee the success of any amendments
as they are applied at the discretion of the
1. Authority to process Telegraphic Transfer and
beneficiary or intermediary banks.
deduct amount of Telegraphic Transfer and fee
2.6
Information which we reasonably require to
1.1
You authorise us to process a Telegraphic
comply with any laws in Australia or any other
Transfer upon request.
country must be provided to us, and may be
1.2
You authorise us to debit the nominated
disclosed where required by any laws in Australia
account(s) that you specify with the amount or
or any other country.
AUD equivalent (as applicable) of the Telegraphic
Transfer and fee. We may impose restrictions on
3. Time required to process transfers
the accounts from which a Telegraphic Transfer
3.1
While a Telegraphic Transfer will normally be
may be made.
received within 24 hours by our overseas
1.3
While we do not recommend this process,
bank, our overseas bank (if they are not the
for any Telegraphic Transfer Requests where
beneficiary’s bank) may take longer to on forward
payment to the final beneficiary must be made
the funds to the beneficiary’s bank.
on identification at the receiving bank, we will
3.2
In some instances, the time required for delivery
process the transaction upon request.
of a Telegraphic Transfer may exceed 7 business
days.
2. Information required to process transfers
3.3
A delay may occur in the processing of a
2.1
When you request a Telegraphic Transfer you
Telegraphic Transfer where:
must provide us with the following information.
• There is a public or bank holiday on the day you
• The account from which you authorise us to debit
request a Telegraphic Transfer; or
the Telegraphic Transfer and any fees;
• You request a Telegraphic Transfer on a day which
• The correct name and street address of the
is not a business day or after our Telegraphic
ordering customer;
Transfer cut off time on a business day (see
• The amount of the Telegraphic Transfer;
clause 4).
• The currency that the Telegraphic Transfer is to be
3.4
We are not responsible for any delays
made in;
in transmission or payment caused by
• The correct bank name and address of the
circumstances beyond our control and we accept
beneficiary’s bank;
no liability for any loss of any kind whatsoever
(including any consequential loss and expense)
• The correct BSB, routing number or equivalent for
thereby resulting.
the beneficiary’s bank;
• The correct account number of the beneficiary;
and
• The correct name and address of the beneficiary.
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e-banking Telegraphic Transfer
4. Cut off times
7.2
We are not responsible for foreign exchange rate
4.1
For same day value Telegraphic Transfers to a
fluctuations.
final beneficiary, all Telegraphic Transfers in a
7.3
The following Telegraphic Transfers in foreign
foreign currency must be received for processing
currencies will be converted from AUD at the
prior to currency cut-off times. Please contact
applicable rate on the day of processing.
our nearest branch to confirm the currency
• Telegraphic Transfers entered after the currency
cut-off times. If a request for a same day value
processing cut-off time referred to in clause 4.1,
Telegraphic Transfer is made after the currency
cut-off time for that day, your request will be
• future dated Telegraphic Transfers; and
processed but the beneficiary will receive the
• recurring payments.
funds on the next business day.
Any rate displayed to your for these transactions
4.2
Telegraphic Transfers received after our
prior to the processing date are indicative only.
processing cut-off time will be not be processed,
The amount debited from your account is likely to
and you will need to make a new request on
be different in these situations.
the next business day. Our processing cut off
time for Telegraphic Transfers is displayed under
7.4
Access to ‘Foreign to Foreign’ and ‘FX deal’
the payments tab of the e-banking screen. We
functions is only available to you if you conduct
reserve the right to alter our processing cut off
Foreign Currency Accounts or arrange Forward
time.
Exchange Contracts with Bendigo Bank. If you
are granted access to the ‘Foreign to Foreign’
5. Cleared funds must be available
or ‘FX deal’ functionality your instructions are
5.1
To initiate a Telegraphic Transfer via e-banking you
accepted subject to validation by our Treasury
must have cleared funds available in your account
Operations department.
at the time of initiation of an amount equal to or
greater than the sum of the Telegraphic Transfer
8. Recalls
and the fee.
8.1
We cannot guarantee the success of any recalls
where a Telegraphic Transfer has been made in
5.2
We are not obliged to process any Telegraphic
error.
Transfers if there is insufficient funds available
for withdrawal in the specified account to be
8.2
Beneficiary banks or intermediary banks may
debited on the due payment date.
deduct charges for any recall requests, therefore
the ordering customer may receive less than the
6. Daily payment limit
amount sent.
6.1
We may impose restrictions on the accounts
8.3
Any recalls will be converted at the “Buy” rate
from which a Telegraphic Transfer may be made
prevailing on the day of return of proceeds.
or impose limits on the amount of Telegraphic
Transfers.
9. Security tokens, user ID and password
6.2
When you register for the e-banking Telegraphic
9.1
To initiate Telegraphic Transfers via our e-banking
Transfer service you will be assigned a daily
site you will be required to use a token to verify
payment limit. A daily limit in excess of AUD
your identity. We will provide you with a token
5,000 will require approval from our Treasury
when you register for the Telegraphic Transfer
Operations department.
service if you don’t already have one. A new
token may be required every three years.
7. Foreign currency
9.2
You are responsible for the security of your token,
7.1
We generally recommend that you send funds
user id and password. For your protection we
in the currency of the destination country, as
recommend that these are not kept together. We
poor exchange rates and any receiving bank’s
are not liable for fraudulent use of your token,
conversion costs may substantially reduce the
logon id and password.
local amount received. The exception to this
is ‘exotic currencies’ where US dollars or other
major currencies are often accepted or preferred.
Note that cut-off times apply to Telegraphic
Transfers in a foreign currency – see clause 4.1.
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e-banking Telegraphic Transfer
10. Trace requests
13. Money Laundering


Trace requests will not be initiated by us prior to
13.1 We are committed to the regulatory requirements
7 business days from value date of the original
for anti-money laundering and counter terrorism
Telegraphic Transfer. Responses could take up to
financing (AML.)
30 business days.
13.2 When arranging a Telegraphic Transfer with
us, you warrant that the payment of monies in
11. Future dated or recurring Telegraphic Transfers
accordance with your instructions by us will not
11.1 Where this functionality is available, only one
breach any laws in Australia or any other country.
attempt will be made to process future dated
or recurring Telegraphic Transfers. Should a
13.3 We may delay, block or refuse to make a
Telegraphic Transfer not be processed due to
Telegraphic Transfer if we believe on reasonable
insufficient funds you will have to request another
grounds that making a Telegraphic Transfer may
Telegraphic Transfer in its place.
breach any law in Australia or any other country.
We will incur no liability to you if it does so.
11.2 As Telegraphic Transfer fees are taken at the time
of processing, the fee applicable to future dated
14. Our fees and charges
or recurring future Telegraphic Transfers (where
14.1 The Telegraphic Transfer fee taken at the time the
this functionality is available) could change
request is processed is our commission only and
between the time that the Telegraphic Transfer is
is not intended to substitute or replace any other
set up and the processing date.
costs related to the delivery of this transaction.
11.3 Telegraphic Transfers are processed on the future
14.2 If you request us to amend any details provided
or recurring date that you specify. See clause
by you after we have sent the payment you may
7.3 for the conversion rate for future or recurring
be charged an amendment fee.
Telegraphic Transfers in foreign currency.
14.3 If you request us to recall a Telegraphic Transfer
12. Mistaken, unauthorised or fraudulent transactions
we may charge a fee.
12.1 On each occasion, you will receive a receipt of the
14.4 If you request us to make enquiries regarding
transaction, which should be carefully checked.
delivery of a telegraphic transfer we may charge a
Any disagreement with the details of the receipt
fee.
should be acted upon immediately to ensure
14.5 A fee to cover the cost of the security token
there has been no confusion with the commercial
is payable at the time of registration for the
terms of the transaction.
Telegraphic Transfer service. A fee is payable for
12.2 You must notify us immediately:
each re-issued token.
• If you become aware that you have made a
14.6 Full details of current fees can be found in the
mistake when requesting a Telegraphic Transfer;
Bendigo Bank Schedule of Fees, Charges and
• You or your authorised user did not authorise the
Transaction Account Rebates. A copy of the
Telegraphic Transfer from your account;
Bendigo Bank Schedule of Fees, Charges and
Transaction Account Rebates can be obtained by
• If you believe that a Telegraphic Transfer was not
contacting any of our branches, by telephoning
processed in accordance with your instructions;
Bendigo OnCall on 1300 366 666 or by visiting
or
our website at www.bendigobank.com.au
• If you believe that you or your authorised user
have been fraudulently induced to make a
15. Other fees and charges you may have to pay
Telegraphic Transfer.
15.1 The beneficiary bank or intermediary bank may
deduct a fee from the proceeds of any Telegraphic
12.3 We may suspend your or your authorised user’s
Transfer.
right to use the Telegraphic Transfer service
at any time if you or your authorised user is
15.2 The majority of overseas banks levy other
suspected of acting in a fraudulent manner.
processing charges which vary between banks/
countries. If these charges are deducted from
the transmitted funds this will result in the
beneficiary receiving a lesser amount than
transmitted.
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e-banking Telegraphic Transfer
15.3 Beneficiary banks or intermediary banks may
deduct charges for any payments that they reject.
Should a payment be rejected due to incorrect or
missing information provided by you, any fees will
be passed onto you.
16. No obligation to process transfer
16.1 All Telegraphic Transfers are processed on a best
endeavours basis, and we cannot guarantee the
success of any Telegraphic Transfer.
16.2 Notwithstanding anything else in these Terms
and Conditions, we reserve the right to refuse
to process a Telegraphic Transfer. We do not
have to give reasons if we refuse to process a
Telegraphic Transfer.
17. Changes to terms and conditions
We reserve the right to change the Terms and Conditions
at any time. We will notify you of any change as required
by law. We will notify you of changes by advertisement
in the national media or by writing to you no later than
the day on which the change takes effect.

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e-banking Telegraphic Transfer
Bendigo and Adelaide Bank Limited, The Bendigo Centre, Bendigo, VIC 3550. ABN 11 068 049 178. AFSL 237879.
(S21729) V004
BEN50TC031 (23/01/09)
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