Yes. If you wish to control the network your purchase is processed via, you can select your preferred debit network by inserting your card and making a selection (savings or credit), rather than using tap-and-go or contactless payment options.
No. Currently mobile wallet transactions, such as Google Pay and Apple Pay, are processed as credit transactions and are therefore unaffected by this change.
No. It only applies to dual-network debit cards. It does not affect members using credit cards or single network debit cards.
Most debit cards issued in Australia are dual-network cards: these cards support both an international network (VISA or Mastercard) and the domestic EFTPOS network and therefore have an international network logo on one side and the EFTPOS logo on the other. This means that debit card transactions can be routed through either of those networks. Any transaction typically draws on the same deposit account regardless.
Traditionally, when a card was inserted into a point-of-sale terminal, cardholders determined how their debit transactions were processed, by pressing either the CHQ or SAV buttons for EFTPOS or the CR button for the international network.
Due to these changes, you may see an increase of EFTPOS purchase transactions on your statement when using contactless payment options.
Please call our Member Service Team on 13 77 28 between 8.45am and 4.30pm Monday to Friday to discuss your options.
Merchants and shopfronts now have the option to send a contactless transaction via the network of their choice (VISA or EFTPOS), whichever costs them the least to accept.
From 1 December 2019, QBANK will increase the number of monthly fee-free EFTPOS transactions from 8 to 12 on the On Call account and remove all fees from the Pension Plus account.
