Digital Banking Changes
We will soon be upgrading our Internet Banking Platform to (MyBank) and Mobile Banking Application (Mobile APP) as a part of our digital banking transformation project.
In preparation for this exciting new enhancement to the way you do your digital banking with us, we are pleased to provide the following additional information.
Internet Banking Daily Limits
We advise that Our Schedule of Fees, Charges and Access Limits has been amended to reflect the following changes that will take effect with the launch of the Holiday Coast Credit Union Digital platform:
- The “Standard” daily transaction limit for external transfers and BPAY payments performed via MyBank and the Mobile APP will increase to $10,000 per day.
- No daily limit will apply to internal transfers (that is, transactions performed between accounts held at Holiday Coast Credit Union).
- Daily limits will apply on a “per account” basis rather than a “per member” basis.
- Members with existing “Non-Standard” daily limits that are either lower than $2,000 or higher than $10,000 will remain unchanged.
Two-Factor Authentication for all users
To enable the increased daily transaction limits and in preparation for the introduction of the New Payments Platform (NPP) real-time payments we have introduced two-factor authentication (2FA) for all users.
2FA is an extra layer of security that requires users to enter a second piece of information in addition to your username and password to authenticate and verify certain types of transactions. The second piece of information is a unique one-time password that is provided to users via SMS.
As such we further advise the following:
- All MyBank and Mobile App users will be registered for two-factor authentication (2FA).
- Users are responsible for providing a current mobile phone number to utilise the service.
To be prepared for our new digital banking platform and to ensure a smooth transition to our new digital banking platform we ask that you to please undertake the following actions;
- Login to Internet Banking
- Check and update your contact details if required to ensure that we have your current mobile phone number and email address.
These changes will take effect with the launch of the new Holiday Coast Credit Union digital banking platform which is coming soon.
Further advice will be issued shortly confirming the actual “go-live” implementation date for our new digital banking platforms.
Should you require further information or assistance at this time please visit your nearest branch, email firstname.lastname@example.org or call our friendly Member Contact Centre staff on 1300 365 7 24.
Chief Executive Officer