Dear Member,

Changes coming to your accounts on 14 April 2026 

As a proud mutual bank, our members are at the heart of what we do. From time to time, we make changes to our services to ensure they remain fit for purpose and meet the evolving needs of our members.

From 14 April 2026, changes will be made to some of your accounts. While these may not impact your everyday banking, it’s important to us that you’re aware of them.

Fee Changes

We’ve simplified our fees to make them easier to understand. This will help you quickly identify when a fee may apply, understand the differences between account types, and decide whether your current structure is working best for you and your money.

Staff Assisted Payment Request - Classic, Lite and i-save accounts

The Staff Assisted Payment Request fee on Classic, Lite and i-save accounts has increased to $4 and applies to staff assisted transactions completed in branch or through the Contact Centre. This includes actions such as adding, editing, or cancelling automatic payments. The fee will be automatically applied to your account at the time the request is completed.

Many everyday banking tasks can be completed quickly and securely with Internet Banking or the mobile app, providing a convenient way to manage your accounts day to day. Staff assisted support remains available whenever you need it, particularly when additional assistance or support with more complex banking needs is required.

If you’re not yet using Internet Banking or the Mobile App, please call our Member Outreach Team on 0508 548 859, or visit your local branch to get set up.

A full list of requests is available under Fees and Charges on our website.

Lite Account unauthorised overdraft

We’re removing the $10 unauthorised overdraft fee. We understand that some transactions can occur unexpectedly or outside your control, and this change helps reduce the impact by removing an additional fee when your account goes into overdraft.

Non-SBS account electronic recovery request
The fee for a non-SBS electronic recovery request has been reduced to $40 per request. This applies when you request a reversal or funds recovery from a transaction sent to an account not held with SBS due to a payment error, such as an incorrect account number.

Direct debit payments  

Direct debits will now only be processed when there are enough funds available in your account on the payment date. In the past, some payments were processed even if this resulted in an unauthorised overdraft—this will no longer happen.
If there isn’t enough money available, the payment won’t go through.

How to stay on top of your payments

• Plan ahead for upcoming payments by keeping track of when direct debits and other regular commitments are due
• Check your account balance in Internet Banking or the mobile app so you know what funds are available
• Change payment dates with providers if needed so payments fit comfortably alongside your other commitments

Need help?

If you have questions or would like support reviewing your payments or managing your account, we’re here to help. You can contact us through Internet Banking, by phone, or by visiting your local branch.

Kind regards,

Shane Evans
General Manager Retail