Bump Savings Notice of Authority and Third Party Access Authority (Online Banking) Agreement
The Account Holder, or the parent or guardian on the Account Holder’s behalf, and the Third Party both agree to all of the terms set out below:
- The Third Party will be authorised to operate and sign on the Account independently, as follows:
- For all channels (subject to the terms and conditions of the Account):
o To operate and enter into agreements to operate on the Account in any way permitted by the Bank including transactions by electronic, mechanical and other means including methods of access which may be introduced in the future.
o To request banking services and debit the Account with any charges or costs relating to such services.
o To close the Account.
o To make, accept, endorse or discount cheques and other instruments made payable to, or the order of the Account Holder.
o To make enquiries, give instructions and generally to request and receive information in relation to the Account.
- Specific to Online Banking:
o To have Value Access via Online Banking, meaning the Third Party will be authorised to view the Account and transfer funds including to:
i. View the account balance;
ii. View transaction details, statements;
iii. Use the Savings Goals feature, including to view, add, edit and remove savings goals on the account; and
iv. Debit the account via Transfer Funds.
- Westpac is authorised to follow all instructions and requests including making payments and providing information about the Account to the Third Party in Online Banking.
- Westpac is authorised to treat any transaction or instruction made by the Third Party, as being authorised without Westpac being required to verify with the Account Holder.
- Westpac is not required to check the accuracy of any instructions, request or notifications on the Account.
- Westpac is released from all actions, suits, proceedings, claims, costs and demands that may be made, brought or incurred by or against Westpac arising from any unauthorised instructions or transactions via Online Banking on the Account.
- the terms and conditions of the Account and the Online Banking terms and conditions apply to the Third Party’s access to the Account, and the Third Party has been made aware of this.
- This authority applies to the Bump Savings account only.
- This authority will continue to apply to the Account until Westpac receives written notice in a form satisfactory to Westpac from the Account Holder or Third Party that it has been cancelled or amended.
- This authority cancels any previous authority the Account Holder has given to the Bank regarding the persons authorised to act except in relation to:
o instruments (including cheques, drafts, bills of exchange, promissory notes and other instruments) dated before the date of this authority and presented for payment after the Account Holder receive this authority, and
o any act done under the previous authority.
In all sections above:
- “Account Holder” refer to the Bump Savings Account Holder.
- “Third Party” refers to the parent or guardian nominated to be a signatory on the account at the time the Account is opened.
- “Account” refers to the Bump Savings account opened for the Account Holder.
- “Westpac” is Westpac Banking Corporation ABN 33 007 457 141.