Frequently asked questions
From Tuesday 26 July 2022, the daily transfer limit will now apply per Member, instead of per account. This means that your limit will include all of your Bank First accounts.
What are the new daily transfer limits?
Type of transfer Current Daily Limits (per account) New Daily Limits (per Member) Effective 26 July 2022 Standard External Transfers $ 2,000.00 $ 5,000.00 OSKO $ 2,000.00 $ 5,000.00 Bpay $ 10,000.00 $ 10,000.00
Why have you made this change?
In response to feedback from our Members, we’re making it easier to transfer higher amounts from the Bank First Internet Banking and Mobile Banking App.
I’ve previously requested a custom daily transfer limit. Does this change apply to me?
If your daily limit is already set to a custom amount of $5,000 or higher it will remain the same, however from 26 July 2022 it will now include all of your Bank First accounts.
If your daily limit is already set to a custom amount of below $5,000, from 26 July 2022 it will automatically increase to the new standard limit.
I want my daily transfer limit to be lower than $5,000. What can I do?
If you would like to request a daily limit that is lower than $5,000, please complete the decrease my limit form and submit your request by Friday 22 July 2022. Your custom limit will be effective from 26 July 2022.
I want my daily transfer limit to be higher than $5,000. What can I do?
Please note, this form is required for permanent limits over $10,000. To temporarily increase your OSKO daily limit, please call us on 1300 654 822.
I’m nervous about this change. How can I protect my account?
Remember to check your account regularly and alert us immediately if you notice an unauthorized transaction. When making an external payment, take care to ensure the payee's account details are correct as it can be difficult to retrieve money sent to an invalid or incorrect account. Visit our fraud and scams page to keep learning about simple steps that you can take to protect your account.
As always, your financial security is our priority. We have high standards in place to protect you and your money, which you can learn more about how we protect you.
Does this change apply to my joint account?
Joint accounts currently allow each account owner to transact separately according to their own daily limits. This will remain unchanged, with the new Member limits continuing to apply to all accounts regardless of whether they are individual or joint.
Does this change apply to my internal transfer limit or card limit?
No, your internal transfer and card limits will remain unchanged.