All Transactions

Jargon buster

Here is a brief glossary of everything you can do with your accounts.

Deposits

Money coming into your account. May be in the form of cash, cheques or electronic funds transfers.

Withdrawals

When you remove money from your account. May be an ATM cash withdrawal, an over-the-counter cash or cheque wtihdrawal at a Centre.

Transfer funds between your accounts

Move your money around to control expenses and budget.

Transfer funds to another BDCU account

Move money to another membership with BDCU.

BPAY®

Pay a bill from a company that is registered with BPAY. Look on your bill for the Biller Code and the Reference number. Can be paid using Internet Banking, Phone Banking or at an Australia Post Office.

Direct Debit

Where you give permission to a third party to debit money from your account on a regular, defined basis.

Periodical Payments

Similar to a Direct Debit, but you shedule a transfer of funds to a third party, rather than the third party debiting your account. The payment is made periodically.

Future-dated Payment

Similar to a Periodical Payment but can be scheduled as a one-off. For example, to pay a bill on its due date. You can set this up in the Internet Banking under Funds Transfer External wherein you press the Pay Later button and enter the future date. Works for both Funds Transfers and for BPAY.

Automatic Payments/Savings

Sends the same amount of money to the account destination of your choice on a frequency you decide. For example, when you get paid, you can set up an Automatic Savings Plan of $30 per week to your eAccess Account, and set up an Automatic Loan Repayment of $100 to your Personal Loan. You set it up once until you want to change it.  

EFTPOS

Electronic Funds Transfer Point of Sale. A merchant facility used by many shops, restaurants and other retail outlets where you can pay for items and often withdraw additional cash from your linked savings account.

Cheque deposits, withdrawals, encashments

Conducted in Advice Centres only. The cheque must be made out to your account name unless signed over to you.

SWIFT payments

Stands for Society for Worlwide Interbank Financial Telecommunications. Secure instant electronic transfers of large sums, such as house deposits. Organised by BDCU at your request.

VISA payments

Use your Visa Debit or Credit Card to pay for goods, services, bills, or make reservations.

Telegraphic Transfers

International payment to an overseas bank account in that country’s currency. Takes 24 to 48 hours.

Drafts

Similar to a bank cheque, but valid for overseas transactions. Of no intrinsic value so can be cancelled if lost or stolen.

Get Statements

Posted to you either monthly (Loan, Visa, Cheque accounts) or six monthly (other accounts) unless otherwise requested. Can be requested from an Advice Centre or via Internet Banking.