4.1. Funds transfer
Depending on your Account, you or an Authorised User may be able to transfer funds from your Account to another bank account through Electronic Banking. Please refer to the relevant Account Terms and Conditions to see if this feature is available for your Account (note: a funds transfer cannot be made from a Macquarie Credit Card).
Enhanced security measures may be required for certain payments. See section 9 for further details.
Processing your instructions
To make a funds transfer, you or an Authorised User will need the following information for the account you wish to transfer to:
- the account BSB;
- the account number; and
- the account name.
You or the Authorised User must select the Account from which the payment will be made, and may also elect to provide a reference description of the transaction.
Once a funds transfer instruction has been accepted by us, it cannot be cancelled except if it is a scheduled funds transfer (see section 5).
Scheduled funds transfers
You or an Authorised User can arrange to make a funds transfer on a future date, including on a recurring basis.
A scheduled funds transfer may not be processed for a number of reasons, including if, on the day the scheduled funds transfer is due:
- there are insufficient cleared funds in the Account from which the payment is to be made; or
- the payment will cause the daily transaction limit for the Account to be exceeded.
For scheduled processing times, refer to section 5 .
When providing instructions for any funds transfer, it is your or the Authorised User's responsibility to ensure that the intended payee's account details are correct. We do not carry out checks to determine if the details provided in a funds transfer instruction are correct. For example, we do not check that the BSB and account numbers provided correspond with the account name of the payee.
Accordingly, any error made in entering details may result in a payment being made to an unintended recipient and it may not be possible to recover the funds. However, if the funds transfer is a Pay Anyone Payment the mistaken internet payments procedures below apply.
4.2. NPP Payments
Depending on your Account, you or an Authorised User may be able to make a NPP Payment from your Account to another bank account through Electronic Banking. Please refer to the relevant Account Terms and Conditions to see if this feature is available for your Account.
For information about how to make a NPP Payment, refer to the FAQs.
Mistaken Internet Payments
Under the ePayments Code and the rules governing NPP Payments, we apply the processes regarding Mistaken Internet Payments as set out below.
Mistaken Internet Payments made by you or an Authorised User
You or your Authorised Users should report Mistaken Internet Payments by calling us as soon as possible as delays may impact on our ability to recover the funds on your behalf.
We will need to collect information from you or an Authorised User that will allow us to investigate and determine whether a Mistaken Internet Payment has occurred. We will provide a reference number, or some other form of acknowledgement, which should be retained as evidence of the date and time of the report.
If we are not satisfied that a Mistaken Internet Payment has occurred, we will not take further action and you will be liable for the loss arising from the payment.
If we are satisfied that a Mistaken Internet Payment has occurred, we will send a request for the return of the funds to the ADI whose customer received the payment (known as the receiving ADI). Sending this request to the receiving ADI requires us to disclose information to that ADI about your Account and the Mistaken Internet Payment.
If the receiving ADI is also satisfied that a Mistaken Internet Payment has occurred and there are sufficient funds available in the account of the unintended recipient, the receiving ADI will attempt to recover the funds and return them to us and we will credit them to the Account from which the payment was made. The following process will apply:
- where the Mistaken Internet Payment is reported to us within 10 Business Days after the payment is made, the receiving ADI is required to return the funds to us within 5 to 10 Business Days of receiving our request;
- where the Mistaken Internet Payment is reported to us between 10 Business Days and 7 months after the payment is made, the receiving ADI will give the recipient 10 Business Day to establish that they are entitled to the funds, and if they do not, the receiving ADI will return the funds to us within 2 Business Days of the expiry of that period; and
- where the Mistaken Internet Payment is reported to us more than 7 months after the payment is made, the receiving ADI will ask the recipient if they agree to the return the funds to us.
If the receiving ADI is satisfied that a Mistaken Internet Payment has occurred but there are insufficient funds in the unintended recipient's account to refund the amount of the payment, the receiving ADI will use reasonable endeavours to obtain a refund for you (for example, by facilitating repayment of the funds by the recipient through instalments).
If the receiving ADI is not satisfied that a Mistaken Internet Payment has occurred, it may (but it is not obliged to) seek the consent of the recipient to enable the return of funds to us.
You will be notified in writing, within 30 Business Days of receipt of the report of a Mistaken Internet Payment from your Account, of the outcome of our investigation. If you are not satisfied with how the report is handled by us, you can make a complaint in accordance with section 15.
Mistaken payments received by you
You may receive funds into your Account where you are not the intended recipient due to a sender entering the wrong BSB number, account number or other identifying information when making an internet payment. This section applies to that situation.
If you become aware of any payments into your Account of which you are not the intended recipient, please contact us as soon as practical .
Where we receive a request for the return of funds from an ADI whose customer reports a mistaken payment into your Account, we are satisfied that a mistaken payment has occurred, and there are sufficient funds in your Account, we may:
- debit your Account with the amount of the mistaken payment without notifying you or obtaining your consent (if the sender reports the mistake within 10 Business Days of the payment); or
- restrict your access to the funds and give you 10 Business Days to establish that you are entitled to the funds before debiting the Account (if the sender reports the mistake after 10 Business Day but within 7 months of the payment).
Otherwise, we will seek your consent to return the funds.
If we are satisfied that a mistaken payment has occurred, but the balance of your Account is less than the amount of the mistaken payment, we will contact you to discuss how best to facilitate repayment to the sender.
Where we are unable to determine that the payment was a result of a mistaken payment, we may still contact you to seek your consent to the return of the funds.
Notwithstanding the above provisions, if you are a recipient of income support payments from Centrelink, we will only seek to recover the funds from you in accordance with the Code of Operation for Centrelink Direct Credit Payments.
Your liability for unauthorised and fraudulent funds transfers will be determined in accordance with section 10.
4.3. BPAY Payments
Depending on your Account, you or an Authorised User may be able to make BPAY payments to Billers (which may include us) from your Account through Electronic Banking. MBL is a member of the BPAY Scheme and will tell you if it is no longer a member.
BPAY payments can be made from most Accounts held with us and can be made immediately or on a date up to 12 months in the future. Please refer to the relevant Account Terms and Conditions for more details. Some Billers will not accept BPAY payments from certain account types and others may have restrictions on the amount that can be paid by BPAY.
Enhanced security measures may be required for certain BPAY payments. See section 9 for further details.
To make a BPAY payment you or an Authorised User will need to provide the following details:
- the Account from which the BPAY payment is to be made;
- the Biller code; and
- the Customer Reference Number (CRN).
We'll debit the Account you select with the bill amount that you specify.
Except for a scheduled payment (see section 5), a BPAY payment instruction cannot be cancelled.
If we are advised that a BPAY payment cannot be processed by a Biller, we will notify you, credit your Account with the amount of the BPAY payment and take all reasonable steps to assist you in any further attempt to make the BPAY payment.
When we make a BPAY payment we are not acting as your agent or the agent of the Biller to whom the payment is directed.
Scheduled BPAY payments
You and your Authorised Users can arrange for a BPAY payment to be made up to 12 months in the future. Some Billers do not allow for recurring payments to be set up; we will notify you at the time of setting up the transaction if this is the case.
A scheduled BPAY payment may not be processed for a number of reasons, including;
- the Biller no longer participates in the BPAY Scheme;
- there are insufficient cleared funds in your Account on the day the payment is scheduled; or
- the payment would cause your daily BPAY transaction limit to be exceeded.
For scheduled processing times, refer to section 5.
A scheduled BPAY payment cannot be made from a Macquarie Credit Card.
Mistaken BPAY payments
Care should be taken by you and Authorised Users to enter the correct amount and Biller's detail. If the amount entered is greater than intended, you or the Authorised User must contact the Biller to obtain a refund. If less, another BPAY payment can be made to make up the difference.
If you or an Authorised User told us to pay the wrong Biller we will re-credit your Account and will seek to recover that amount from the Biller. However, if we cannot recover the amount within 20 Business Days, we will debit your Account for that amount. If there are insufficient funds or credit available on your Account you must pay that amount to us. You acknowledge that the receipt by a Biller of a mistaken or erroneous payment does not, or will not constitute under any circumstances, part or whole satisfaction of any underlying debt owed between you and the Biller.
You should check your Account carefully and promptly report to us any BPAY payments you think are errors or that were not authorised by you or an Authorised User. The longer the delay between the date of the BPAY payment and when we are informed of the error, the more difficult it may be to correct the error. You may need to liaise directly with the Biller to correct the error if, for example, because of delay, we no longer have sufficient information to investigate it.
For us to investigate a BPAY payment from your Account that may be unauthorised, you or an Authorised User must first give us your written consent, addressed to the Biller who received that BPAY payment, authorising us to obtain information about your account with that Biller, or the BPAY payment. You will need to include your CRN and any other information we require. If you do not give us the consent, the Biller may not be permitted under law to disclose to us the information we need to investigate or rectify that BPAY payment.
If we make a BPAY payment to a person or for an amount not instructed by you or an Authorised User, and your Account was debited with the payment, we will credit that amount back to your Account.
Disputes in relation to unauthorised, fraudulent or wrong BPAY payments will be handled in accordance with section 15. Your liability for unauthorised and fraudulent BPAY payments will be determined in accordance with section 10. No chargeback rights are available in respect of a BPAY payment from your Account.
Subject to section 10 of these Terms and Conditions:
- we are not liable for any consequential loss or damage you may suffer as a result of using the BPAY Scheme, other than:
- due to any loss or damage you suffer due to our negligence, or
- in relation to any breach of a condition or warranty implied by law under consumer protection legislation which may not be excluded, restricted or modified at all or only to a limited extent; and
- you indemnify us against any loss or damage we may suffer due to any claim, demand or action of any kind brought against us arising directly or indirectly because you or an Authorised User did not observe any of the obligations under this section 4.3 or acted negligently or fraudulently in connection with their use of, the BPAY Scheme.
4.4. General information on transactions
When you or an Authorised User make a transfer or a payment on your Account through Electronic Banking, the following general conditions apply:
- we will confirm the receipt of instructions to transact (although not the transaction itself);
- you should check your Account records carefully and report to us as soon as you become aware of any payments that you think have been made in error or which were not authorised (see section 10 for liability for unauthorised payments);
- you should notify us promptly if you become aware of any delays or mistakes in processing transactions;
- you authorise us, and we are entitled, to act upon any instruction received via Electronic Banking in conjunction with the correct Access Methods and other terms agreed between you and us;
- we will not be obliged to effect a payment instruction if:
- it is not made in accordance with these Terms and Conditions;
- the Account Terms and Conditions for the Account from which the payment is to be made prohibits the payment;
- the information given to us, or requested by us, is incomplete and/or inaccurate;
- we are restricted or prohibited by law, regulation, industry code, or the requirement of a government or similar authority from permitting the payment to occur;
- the instruction is not accepted by our system;
- there is a technical failure of equipment, our system or outside our system, which causes a delay in the transmission or acceptance of the instruction;
- the financial institution to which the payment is to be made does not accept it or delays accepting it;
- your or an Authorised User's right to participate in Electronic Banking is suspended;
- there are insufficient cleared funds in the Account from which the payment is to be made to cover the amount of the payment on the day the payment is instructed to be made; or
- the request would cause you to exceed any daily limit (on the day the payment is instructed to be made) we impose on your Account or your use of Electronic Banking;
- we will perform a payment instruction as soon as possible, however, we do not guarantee that any transaction we are instructed to make will be made on the day or at the time requested; and
- we have absolute discretion to determine the order in which we give effect to payment instructions received.