News
March Interest Rate Change
New global standard in card security
Card Switching
Nurses First has a new Dream home loan
Nurses First members set to pay less fees
Your safety at ATMs
March Interest Rate Change
The Reserve Bank announced on Tuesday 2 March it would be increasing the official cash rate by 0.25%pa, up to 4%pa. As a result of this change Nurses First will also be increasing all variable home loan interest rates by 0.25%pa effective from Wednesday 10 March 2010.
Letters will be sent out on 24 & 25 March to all Nurses First members with loans that are affected by this change. Your letter will tell you the new interest rate applicable to your loan, what your minimum repayment level will increase to and the date it will become effective.
New global standard in card security
Nurses First is pleased to announce that we are now issuing all of our VISA cards with an embedded microchip on them. The microchip is the new global standard in card seccurity and offers a new level of protection from fraud. The microchip stores your account name, number and expiry date. But, unlike the magnetic strip, the chip is virtually impossible to copy, giving you an unrivalled level of protection against card skimming, counterfeiting and other fraudulent use.
Instead of swiping your card, you may be asked to insert your card into the new chip card compatible EFTPOS machines. Your card will remain in the terminal for the duration of your transaction and confirms your identity by requesting your PIN. Your new VISA chip card can still be used in the traditional swipe EFTPOS machines with either signature or PIN approval.
Members who have an exisiting Nurses First VISA credit or debit card will receive their new chip card upon expiry of the existing card or when a new card is required. Should you have any questions please call us on 13 25 77 or visit our branch.
Card Switching
To encourage easy account switching between financial institutions, the financial services industry, led by the Australian Payments and Clearing Association (APCA), have identified 12 initiatives to be implemented by 31 December, 2009.
APCA is introducing these initiatives to assist card holders to stay in control of their regular payments when switching between Financial Institutions. As part of the scheme Nurses First is required to inform members of their obligations relating to regular payments made through their card. Nurses First will inform members when:
- Joining the Society (or enquiring about joining)
- Annually
- When the card is replaced (expired or lost)
- When closing a membership
- When a request for payment is received on a closed account
As part of the scheme, members are encouraged to keep accurate records of payments made through their cards and will have access to documents online to assist this endeavor.
To view a copy of the Nurses First Account Switching brochure click here.
To access a PDF copy of the Card Switching letter click here.
Should you require any further information regarding Account Switching please visit the Nurses First branch or contact one of our Member Services Consultants between 9am and 5pm on (03) 9419 1901.
Nurses First has a new Dream home loan
Dream home loan is the latest addition to Nurses First's lending product suite. Dream home loan eliminated all the extra features, except the ones that matter, of course! It's the "no frills" loan that will bring you a step closer to your dreams.
You no longer have to imagine paying your loan off sooner and having extra money available for when you need it the most. Dream home loan makes it a dream come true by offering a very competitive ongoing low variable interest rate, ability to make repayments & fee free redraws with a minimum of $2,000 per withdrawal.
With very little extra features and a bunch of benefits, it's a dream to manage and a dream to have.
For further information, please see the Dream Home Loan page.
Nurses First members set to pay less fees
Nurses First members will soon pay even less in direct charges at ATMs, with the number of direct charge free rediATMs set to more than double across Australia to over 3,000 machines.
Nurses First use the rediATM network to offer their members direct charge free ATM transactions. Following an announcement on 15 July 2009, the National Australia Bank (NAB) will join Nurses First, and more than 100 other financial institutions using the rediATM network, to offer their customers direct charge free ATM transactions.
The number of rediATMs in Victoria is currently 151. With the expansion of the rediATM network to include NAB ATMs, there will soon be 670 rediATMs in Victoria available to Nurses First members.
To assist Nurses First members, NAB ATMs will soon feature a rediATM logo, alongside the NAB logo, to identify that it can be used by them without a direct charge being applicable.
The expanded rediATM network will become available for Nurses First members to use once regulatory approvals have been received. It is anticipated that this approval process will be completed in the next few months.
For more information about the rediATM network, visit www.rediATM.com.au
Your safety at ATMs
The issue of ATM "Skimming" devices has gathered considerable media attention recently. Although these devices are capable of capturing details of your card, in the majority of cases this information is of little or no use to the criminal, without obtaining your PIN.
Below are some hints on how to protect yourself and your funds when using an ATM:
- Memorise your PIN - Don't write it on on your card, or on a piece of paper which you store in your wallet or purse
- Beware of anything that looks unusual about the ATM - If the ATM looks as if it has been tampered with, or something looks different than the last time you used the machine, as a precaution it is better not to use the machine and contact the owner of the ATM (For example if its a rediATM contact Nurses First on 9419 1901).
- Maintain an awareness of people around you - Ensure that people are not able to look over your shoulders as you enter your PIN. If someone is standing too close to you, if you feel comfortable - simply ask them to step back, otherwise walk away from the ATM until after they have used it and moved away. Be very wary of anyone offering assistance with your ATM transactions, even if the machine has captured your card or does not appear to be working correctly. If your card is retained by an ATM please contact Nurses First immediately on 9419 1901 or visit our branch.
- Put away your money quickly - Although we understand that many people like to check that the correct amount of cash has been dispensed, we recommend that you do this once you are safely in your car, at home or in the office.
- Ensure your receipt is either taken with you, or completely inserted into the ATM bin - Don't let a potential thief know how much money you have in your account.
- Ensure you have completed your transaction before walking away from the ATM - Often an ATM will prompt you with a message similar to "Would you like to complete another transaction?" Ensure that you have answered "No" or that the transaction is fully completed before walking away from the ATM.
- Check your statement - Notify Nurses First immediately on 9419 1901 or visit our branch if you notice any suspicious or unauthorised transactions appearing on your account statement.
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