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Credit Card questions and answers

Got questions about activating and using your Greater Bank Visa Credit card? Or wondering what the word on your statement means?

We've answered the most common questions we get asked about Credit Cards.

View Greater Bank's current Credit Card interest rates below.

Credit Card interest rates

How to apply for a Credit Card

Applying and activating your card

 

Activating your Greater Bank Card is easy and can be done in a number of ways

Mobile App

Most of our customers choose this option as it's the easiest

  • Login to our Mobile App
  • Tap on 'Activate your card' on the top right hand side of screen
  • Follow the prompts
Online
  • Simply Logon to Online Banking
  • Click Card Maintenance and select your account from the menu
  • Complete the security and verification procedures
Branch

Drop into your nearest branch

Did you know you can apply for a Credit Card with Greater Bank online?

Existing customers are able to apply through Online Banking.

New customers can apply online with our handy website form.

New customers applying for a Credit Card with Greater Bank will need the following information handy:

  • Your current and previous employer details including name, address and contact number;
  • If you are self employed, we will need your Notice of Assessments from the ATO for the previous two years;
  • What you earn along with two current payslips;
  • Any current loan and other repayments, any credit and store card limits and the value of your assets;
  • A copy of your current photo identification. This can be your driver licence, passport, photo card, birth card or national identity card (Any additional cardholders will also need to provide photo identification);
  • If you require a balance transfer we will need your latest credit card statement so we can arrange a transfer as soon as your card is activated.

Fees and charges

 

We’ll send you a statement at the end of every month showing all of your transactions for the month, any interest and fee charges and the closing balance for the statement period (including any previous balances you haven’t paid).

Your monthly statement will also show you what your minimum monthly repayment is and when it is due, along with some important information about how long it will take to pay your credit card off if you only make the minimum payment.

To avoid interest on any purchase transactions you need to pay your statement balance in full by the payment due date each month.

Some types of transactions will incur interest straight away. These include cash advances and balance transfers.

Cash advances can also be payments you make using BPAY® if the biller doesn’t accept a credit card transaction and will also incur interest charges immediately.

The fees associated with your card are outlined in your credit card agreement, for details on the current amounts refer to our credit card fees and charges flyer.

Tips to avoid fees:
  • Set up an alert or schedule your payments to make sure you don’t forget to pay by the due date.
  • Aim to pay off the full balance each month, maximising your money.
  • If you can’t pay the statement balance in full then you need to pay the minimum amount due at least, to avoid any additional fees being due.

Your annual fee is charged in full on your first monthly statement. This will cover the next 12 month period.

Your annual fee will be charged each year at the same time.

If you have met the $12,000 annual spend threshold or your credit card is linked to an Ultimate Home Loan Package then the annual fee will be waived.

This fee is incurred when you don’t pay the minimum monthly payment required.

The fee will be debited to your account on the last day of the second consecutive statement period in which the minimum repayment is not made, and thereafter on the last day of each subsequent statement period that the minimum repayment is not made by the due date.

When you make a purchase using your Greater Bank Visa Debit or Credit Card there are some circumstances where we can dispute a transaction for you from the merchant’s financial institution and initiate a return of funds.

This is called a chargeback. Usually, we can only do this after you have tried to get a refund from the merchant and were unsuccessful.

Notify us straight away if you believe an error or unauthorised transaction occurred.

To request a chargeback you will need to complete a form and provide us with any information we ask for to support your request.

Not following these steps may limit our ability to resolve your complaint, and you may still be liable for the transaction.

Lost and replacement cards

 

If your Greater Bank Credit Card or Debit Card has been lost or stolen, here's how we can help.

If you're all set up with our Mobile Banking App:

You can place a lock on your card immediately, which we recommend.

  • Just log in to the App, tap 'Services', then tap 'Card Management'.
  • Touch the drop-down menu next to the account in question, and then;
  • tap 'Temporarily lock card'.

It's then still a good idea to get in touch with us as we will need order a replacement card, which you can do via your method of choice.

If you're not a Mobile App customer:
  • Please call 13 13 86 Mon-Fri 8:00am to 6:00pm and Sat 8:00am to 1:00pm, OR
  • Drop into your nearest branch during opening hours

Alternatively, you can

If you’ve found a card which you had previously reported as lost, firstly – that’s great luck!

In terms of your next steps, it’s as easy as letting us know via your method of choice that your card is back in safe hands

  • If you have used our Mobile App to lock your card, you can simply log back into the app and unlock the card and continue to use it.
  • If you have reported the card lost via another method (over the phone, in branch or via secure mail within online banking) simply give us a call on 13 13 86 to report it found

If you’ve already ordered a new card after reporting one lost, you may have to wait until your new card arrives in order to continue making EFTPOS and ATM transactions.

Stop your card by locking or cancelling your card

As soon as you realise your card is missing it’s important to either lock, block or cancel your credit card.

You can do this easily via the Greater Bank App, Online Banking or online.

You can also call our Contact Centre on 13 13 86 during business hours or visit any of our branches.

Review the transactions on your statement

It is a good idea to regularly review your monthly transaction on your statement. We are here to help if you want to dispute a transaction.

Update your regular payments

If you’ve been issued with another card make sure you update any regular bill payments you might have set up.

Some standard ones are Netflix, Spotify, Apple accounts, Phone, Gas and Electricity.

Whether your card has been lost or stolen, or it is simply a little worse for wear, you need to get in touch with Greater Bank as soon as possible to organise a replacement.

  • If your card has been lost or stolen please call 13 13 86
  • If you are simply after a replacement card, call 13 13 86
  • You can also request a replacement card via sending us a secure mail within Online Banking.
  • Alternatively, drop into your nearest branch

You can add an additional cardholder to your account as part of your credit card application or by completing an additional cardholder form once your credit card has been approved.

The most common reason for wanting to add an additional cardholder is so your partner or a family member can use your account.

Just remember, that as the account holder, you are financially responsible for all transactions made by an additional cardholder. The account limit will include your card and any additional card.

To cancel an additional cardholder on your account you need to complete a credit card additional cardholder cancellation request form.

Using your card

 

You can pay your credit card via Online/Phone banking, setting up an EasyPay payment, via BPay® or in person via any of our branches.

Remember, payments like BPAY® and transfers from non-Greater Bank accounts may take a few days to process.

If you do pay your statement balance in full each month, you must do so by the statement due date to continue to be eligible for your interest free period.

If you don’t pay your statement balance in full, you need to pay at least your minimum payment by the due date.

It’s important that you do so to avoid any late payment fees. Your statement will show you what this amount is, as well as how long it will take to pay your credit card off by only paying the minimum payment.

To make the most of your credit card it’s advisable to pay more than the minimum payment each month or over time you will incur further interest and it will take you longer to pay off this debt.

If you don't remember your PIN, you are able to order one via the Customer Service Centre (on 13 13 86) or by contacting your local branch. The PIN will be mailed to you within 7 days.

They are essentially the same.

Merchants can choose who processes their card transactions.

For example: Visa, Eftpos or Mastercard. Simply ‘tap’ your card on the terminal when you shop and depending on the merchants preference the transaction will show as Visa Wdl or Eftpos Wdl on your statement.

Each merchant is different and can use one or more of these companies to process transactions.

You won’t know until the transaction appears on your statement.

The regulations in place at present allow the merchant to choose the cheapest cost for themselves to complete the transaction.

You can use your card at ATM or EFTPOS machines at any financial institution throughout Australia and any location where VISA is accepted worldwide.1

1 Direct Charging fees may apply.

You can apply for a limit increase in a number of ways:

  • You can apply through Online Banking if you are already a registered Online Banking user.
  • You can also visit any Greater Bank branch and our staff will be able to assist.

If you have ordered a new card due to your previous card being lost or stolen, you will require a new PIN number.

If you have received a replacement card due to your previous card being damaged or expiring, you can continue to use your existing PIN number.

Setting up direct debit, or scheduled payments is easy using Greater Bank’s Online Banking.

Direct Debit can be set up in a number of ways – through both the BPAYⓇ and Transfer Money sections of Online Banking.

Transfer Money
  • Login and select ‘Transfer Money’ on the left of screen
  • Enter whether sending money between accounts or to a third party, which account funds will be drawn from, the desired amount, a description, and select ‘Later’ for the payment timing
  • You can now enter a start date for payments, frequency and how long you want payments to occur for.
BPAY
  • Login and select ‘BPAY’ on the left of screen
  • Enter the account to draw funds from and select a biller from the drop down list, or alternatively you can enter a new biller’s details and save them for later. Select ‘Later for the payment timing
  • You can now enter a start date for payments, frequency and how long you want payments to occur for

Once these details have been entered, your Scheduled Payment will take place at the requested interval.

To view all Scheduled Payments, and to edit or delete Scheduled Payments, follow the steps below:

Deleting a Scheduled Payment
  • To delete a 'Scheduled Payment', click on the transaction link located under the column headed 'Transactions' for that transaction. Click on the 'Delete' button. A prompt will display allowing you to confirm the deletion.
Editing a Scheduled Payment
  • You can edit the Amount, Description and Schedule details of a 'Scheduled Transaction'. If you want to change where the transaction is being paid from or where it is being paid to, you will need to create a new transaction from the 'Transfer Money or BPAY® panels'.
  • Clicking on the "Cancel" button in the 'Edit Transaction Details' page will cancel the changes you have made to the 'Scheduled Transaction'. (Important - It will not cancel the 'Scheduled Transaction' you have listed. To cancel a 'Scheduled Payment' you will need to delete it using the "Delete" button. You cannot add a new 'Scheduled Payment' from this page. Use either the 'Transfer Money or BPAY® panel's to do this.)

Not registered for Online Banking? It’s a simple registration process, makes banking easier and best of all – it’s free! Simply phone 13 13 86 or visit your nearest branch to register today!

Visa Secure is an additional layer of security for your online purchases.

In some instances, you might be asked for a second layer of security which will be via SMS.

This will be a code which you will need to verify the purchase. Greater Bank has registered all our visa cardholder for this additional layer of security.

Visa Secure has been enhanced and your password is no longer required - this process is now seamless.

All Greater Bank cardholders have been automatically registered for Visa Secure.

The security protection remains the same and only the enrolment process has changed.

The way in which the transaction has processed will determine how you can dispute the transaction in question.

Visa Transactions

For unauthorised Visa transactions, you will need to cancel your card immediately to prevent further unauthorised transactions.

  • Your card can be cancelled via the ‘Card Management’ tab in the Mobile App,
  • by calling our customer contact centre on 13 13 86 during our hours of operation (Monday to Friday 8.00am - 6:00pm and Saturday 8.00am - 1.00pm) or
  • by calling 13 13 86 outside of our customer contact centres hours of operation.
Non-Visa transactions

If it is not a Visa transaction, we recommend you give us a call on 13 13 86 or visit your nearest branch.

Please then get in touch with us via one of the above methods or by sending us an email by clicking on the ‘Mail’ tab while you are logged into Online Banking and we can discuss how to dispute the transaction.

We are here to help if you want to dispute a transaction.

If you are worried that your card has been compromised please cancel or put a stop on your account via the ‘Card Management’ tab in the Mobile App or call our Contract Centre on 13 13 86. Outside of business hours call 1300 731 144.

To investigate a disputed transaction please call our Contact Centre on 13 13 86 during business hours.

Getting to know your card better

 

With either Greater Bank Debit or Credit Visa Card you will receive a PIN within a few days of you receiving your card.

Your PIN is sent separately for your security. The PIN you receive will be unique but it can be reset to something more meaningful to you, at one of our ATM’s by selecting the PIN Change option.

You must know your current PIN to be able to change it.

You should ensure that only you know your PIN and be mindful when choosing a new PIN. I.e. avoid a PIN that contains repeating digits such as 9999, or digits in a sequence such as 1234 or numbers that represent information others may know about you such as a birthday, year of birth or address.

If you don't remember your PIN, you are able to order one via our Contact Centre (on 13 13 86) or by contacting your local branch. The PIN will be mailed to you within 7 days.

If you have received a replacement card due to your previous card being damaged or expiring, you can continue to use your existing PIN number.

If you have ordered a new card due to your previous card being lost or stolen, you will require a new PIN number.

A limit is the maximum amount available to you on your card, including any interest and fees and charges.

A credit card is a type of loan. When you apply for a credit card we consider a number of factors in determining the limit we can provide, including the limit you have requested.

We will never offer you a higher limit than what you have requested but we may need to offer a smaller limit.

When we review your application and your credit history, we make a determination on the maximum limit amount along with the limit amount you have requested – then we determine the limit we can offer you on your credit card.

You can apply for an increase or request to decrease your limit at any time. You can do so visiting one of our branches, via Online Banking or our website. You can also print a credit limit decrease request form and take it into your nearest branch.

If your circumstances change or if you are having difficulty meeting your repayments then you need to let us know so we can see if there is anything we can do to assist.

A cash advance is when you withdraw cash from your credit card Account via an ATM, at a branch or when purchasing goods if the merchant allows you to do so.

Cash advances can also be when you make online or phone payments with a merchant that doesn’t accept credit cards payments.

Your purchase will go through but these transactions will be treated like a cash sale.

Also, if you transfer from your credit card account into another account, or to another financial institution, and if you use your credit card for gambling purposes these transactions are also considered to be a cash advance.

Interest starts calculating from the day you make the withdrawal. In addition to interest, there are other fees that apply to Cash Advances. You can find the current fees in our credit card fee and charges flyer.

What are pending transactions?

Have you noticed a difference between your account balance and your available funds?

The difference may be due to a pending transaction.

Payments, cash withdrawals or deposits can sometimes appear as pending on your account until the transaction is fully processed.

This can cause some confusion as you may think that a payment hasn’t been successful, or you might have been charged for something twice.

Here's some information to help you understand pending transactions and the steps to raise a dispute.

How pending transactions work

When a transaction is authorised it is confirming to the merchant your card is valid and there’s money in your account to pay for what you’re buying. 

The transaction amount is then deducted from your available funds and the transaction shows as pending on your account until the payment process is complete.

The amount marked as pending is deducted from the available funds not your account balance.

If you want to know how much money you have available in your account look at your available funds.

Pending transactions generally take three to five business days to process. Some can take up to 10 business days.

Pre-authorised payments may take longer.

If you allow a merchant to use your card for pre-authorised payments, things like a security deposit for a hotel booking or car hire, expect to wait up to 7 days for your available balance to be adjusted.

In some instances, we may authorise your card transaction but the merchant may not process the transaction immediately.

The daily ATM withdrawal limit for Greater Bank cards is $1,500 per day, per card.

It's best to keep in mind that EFTPOS withdrawals are included in the daily withdrawal limit, unless you select Credit or use Visa payWave.

You can apply for a limit increase in a number of ways:

  • You can apply through Online Banking if you are already a registered Online Banking user.
  • You can also visit any Greater Bank branch and our staff will be able to assist.

The maximum interest free period is the number of days during the statement period plus the number of days until the statement due date.

It is the maximum amount of days that may apply before interest is charged on purchases (assuming you do not already have interest accruing on balances left over from a prior statement period).

Your interest free period will run from the date of purchase of each item through to the payment due date as disclosed on your next statement (typically 25th day of the next month).

The number of interest free days will depend on the date you make a purchase and the date on which a statement period ends.

If you’ve forfeited your interest free period by not paying your full balance by the due date, it can only be reinstated once you’ve paid your statement balance in full by the payment due date again.

If you don’t pay your statement amount in full by the due date you will be charged interest from the day after the payment due date and on any new purchases from the date of each transaction.

Remember, don’t forget to allow a few days for payments like BPAY® and transfers from non-Greater Bank accounts to process.

So be smart about your spending. Larger transactions could be purchased closer to the beginning of the month to use the maximum interest free period.

But this will only apply if you pay off that statement balance in full by the payment due date.

Each card is issued with an expiry date.

It is important to know that you will not be able to use your card after the expiry date.

At Greater Bank our cards have approximately 4 year term.

You will receive a replacement card the month before it expires.

Your replacement card will be sent to your address and you will need to activate the card when you receive it.

Your existing PIN number will work with your new replacement card.

The only change will be to the card number and the expiry date.

The expiry date is also used if you have a recurring Visa debit set up (such as a monthly Netflix or Spotify subscription) so you will need to notify anyone who might have your card on file.

We charge you a foreign currency conversion fee when you make a transaction in a foreign currency or in Australian Dollars:

  • outside of Australia
  • In Australia (for example, online) and the merchant or the financial institution processing the transaction is located outside of Australia.

Your account will be debited in Australian Dollars plus any fees and charges.

Conversion rates are set by Visa and can fluctuate until the transaction is debited to your account.

Transactions are converted from the Transaction currency to the Australian Dollar equivalent (or to United States Dollar then to the Australian Dollar equivalent), as at the date they are processed by Visa.

Both debit and credit transactions in foreign currencies are subject to international conversion rates.

All international transactions are listed on your statement in the currency of the transaction and the Australian Dollar equivalent.

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