Internet and phone banking

Telephone banking

Features of telephone banking

Telephone banking services give you 24-hour access to your accounts from any touch-phone. It allows you to:

• check your account balance
• transfer funds linked between accounts that can include yours and other member accounts
• transfer funds to other accounts and persons at other banks
• make BPAY payments
• check transactions 
• check your loan account balances
• check interest earned for the last financial year.

Fees and charges for telephone banking

Most financial institutions have their telephone banking service linked to a 1300 number. This means you only pay the cost of a local call if you are calling within Australia from a landline. If you call from your mobile additional call costs may be charged.

Internet banking

Features of internet banking

Internet banking lets you:

• view and check your accounts
• review recent transactions
• apply for loans and credit cards
• transfer money and pay bills.

Many internet banking products also have features where you can send money overseas quickly and safely to most countries in the world.

Tips when using internet banking

Here are some tips on how to safely use internet banking.

• never store your login and password together on your computer or in your email account.
• if you accidentally enter the wrong password or login, a message saying ‘invalid login’ will appear. If this happens 3 times, you will be locked out and unable to access your account. Call your bank to regain access.
• some banks may charge fees. To find out what they are, type ‘online banking fees’ into the search function on the bank’s website.
•  be careful when transferring funds to another person’s account. If you enter the wrong information and submit, you will not be able to retrieve the funds.
• always print or write down the lodgement and receipt number of transactions completed online.
• always remember to log off when you finish using online banking.
• be wary of emails asking you for confidential information such as your internet banking login and password

Visit the Money Smart website for more information and tips.

Internet banking security

If you use internet banking, you should take appropriate precautions when online. 

Always be careful of anyone requesting personal or confidential information, such as your internet banking login and password.

For more information on protecting your personal information as well as your money from banking scams, visit the MoneySmart online safety website.