Opening an account with RaboDirect
Can I change my linked account?
Yes, you can considering it is after 30 days of opening your account, or if there is an extenuating issue with the current linked account.
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How will I know if I don’t need to print and sign the forms and send in my ID documents?
Our new account opening process is designed for minimum hassle. If you have all the correct information at hand, you will pass the identity checking process required by law, and therefore avoid having to print and send in documents.
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Why do I need to print, sign and mail my form and documents after completing the online account opening forms?
Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, effective from 12th December 2007, we are required to identify account owners and those persons operating an account.
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What information will be required to open an account?
The type of information needed will depend on the account you are opening.
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Why do I need to verify my account by depositing $1.00 into my master account?
You need to deposit $1.00 into your account (and put “Verify account” in the reference field), using the account number we provide you, to confirm that you have authorisation over your linked account. This is an anti-fraud measure.
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How do I verify my linked account?
As soon as you receive your RaboDirect account number, log into your linked account and make a transfer into your RaboDirect account, with the reference “Verify account”.
Can I use my RaboDirect account before I verify my linked account?
If you have your RaboDirect account number, you can immediately transfer money in from your linked account. However you will not be able to transfer money out of RaboDirect. This is an anti-fraud measure.
What happens if I don’t verify my linked account?
You can still transfer money into your RaboDirect account, however, you cannot transfer money back out to your linked account.
When does my initial deposit get debited from my linked account?
If you chose to have an initial deposit debited from your linked account (when you were opening your account online), then this will be automatically debited from your linked account the day after you have verified that linked account with the $1 transfer.
Why isn’t my initial deposit showing in my RaboDirect account?
It could be that you did not have sufficient funds in your linked account to cover the amount you chose to have transferred.
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What happens with the term deposit I set up when I opened my account?
If you opted to open a term deposit while you were going through the account opening process, then this will be automatically set up for you as soon as you have the required funds in your account.
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Why hasn’t my Term Deposit been set up as I requested when I was opening my RaboDirect account?
It could be that you did not have sufficient funds in your linked account to cover the amount you chose to invest in the term deposit.
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Why is the interest rate in my new Term Deposit higher than what I set up?
The interest rate quoted for the term deposit is be honoured for 10 days from the date you completed the online account opening form, even if the advertised rate is reduced during that time.
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Why is the interest rate in my new term deposit lower than what I set up?
The interest rate quoted for the term deposit is be honoured for 10 days from the date you completed the online account opening form, even if the advertised rate is reduced during that time.
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How long have I got to provide the sufficient funds for the new Term Deposit?
The interest rate quoted for the term deposit will be honoured for 10 days from the date you completed the online account opening form, even if the advertised rate is reduced during that time.
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What is a linked account?
A linked account is a domestic bank account excluding online savings accounts you have with another Australian bank that is linked...
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What is a telephone PIN and why do I need one?
This is a 4 digit number that is used for identification purposes when you call our Customer Experience Centre. You cannot use 4 consecutive or repeated numbers, or your date of birth.
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Can I change my telephone PIN?
Yes, it is possible to change your telephone PIN under the “My Details” section when you log into your RaboDirect account.
I have forgotten my telephone PIN, can I still access my account?
The telephone pin is required when you contact the Customer Experience Centre, If you forget your PIN, simply log into your account and change it.
Why do I need to supply my Tax File Number?
If you do not supply your Tax File Number (TFN), or tax exemption, RaboDirect will be obliged to withhold tax (at the maximum rate) on the interested earned.
What is the difference between Customer number and Account number?
Your customer number is a number that is used to login to your account, or quote to the Customer Experience Centre when making an enquiry. Your Account Number is used to identify the type of account held with the bank and to transfer funds into.
How does the RaboDirect Account work?
Everything revolves around your High Interest Savings Account (called your Master account when you login), which all customers get by default.
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What is the Master Account?
Also known as a High Interest Savings Account, the Master account is the primary bank account that is set up with every RaboDirect account opened.
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Can I change my personal details online?
You can only change your phone number and email address online. To change your address details you must log into your account and send a secure email to RaboDirect.
What if I’ve locked my Digipass?
Your Digipass is an essential security device to login to your account, if you have blocked your digipass please call the Customer Experience Centre on 1800 445 445 between the hours of 8am and 7pm Monday - Friday (AEST time) and we will assist you to reset your Digipass.
What is Direct Debit Authority, and what will happen if you enable it for my linked account?
Providing RaboDirect with Direct Debit authority enables you to make one-off and regular transfers from your linked account into your RaboDirect account. RaboDirect will only debit your linked account for amounts instructed by you.
I forgot to write down my BSB and account number, where can I find it?
There are several ways to get your BSB and Account number, it depends a bit on your situation:
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Are my savings government guaranteed?
Yes, RaboDirect is an Australian registered bank and is covered under the Government Guarantee. But please be aware that the government guarantee is capped at 1 million dollar per entity.
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Can I have more than 1 linked account?
No you can’t have more than 1 linked account at any time, this is to ensure your money is safe with us. If you would like to change your linked account, please download the “Change of linked account form”, print it, fill it in, add any required documents and send it in to us.
Do I need to send in any documents?
When you want to open an account it depends on the account type, products selected and information provided if you need to send in documentation.
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What happens after I apply online?
This depends on the account type, products selected and information during the account opening process.
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How many days do I have to verify my linked account?
There is no time limit to verify you linked account, but it is in your own best interest to do this as quickly as possible. Without a verified linked account you can’t transfer money out from your RaboDirect account.
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Can I save the form and come back later?
No, this options is not available. We have made the form as short as possible and it normally takes less than 5 minutes to complete. This means you can easily open a new account at any time. Some data e.g. TFN number is optional and can be provided to us at any time after the account is opened or on the printed account opening form.
Can I certify my own documents?
No, this options is not available. RaboDirect has made the form as short as possible and it normally takes less than 5 minutes to complete. This means you can easily open a new account at any time. Some data e.g. TFN number is optional and can be provided to us at any time after the account is opened or on the printed account opening form.
Can I transfer money from a non-linked account?
Yes, your RaboDirect account has an Australian BSB and Account number. You can use this to transfer money directly into the account from any other Australian bank account. Please note that we don’t accept cheques or cash deposits.
What do I need to do if my linked account can’t do 3rd party payments?
You will need to change your linked account. Please download the "Change of linked account form", print it, fill it in, add any required documents and send it in to us.
Where can I find my interest rate?
When you login to online banking, the rate is always shown on the top right hand side when you look at one of your savings accounts. If a promotion is on, it is hard to show the current rate, therefore a link with “Promotion” will be shown.
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How do I change my linked account?
Please download the “Change of linked account form”, print it, fill it in, add any required documents and send it in to us.
Why do I need to provide certified ID / Documents?
Because we are an online bank we cannot physically identify our customers so a certified copy is required to verify you.
Why can only 1 authorised signatory operate on an account (Joint, Trust, Business, DIY)?
We try to bring banking to you in the most efficient and cost effective way, to ensure we can offer you the best rate. This is why we have chosen to only have 1 Digipass per account.
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How can I change my initial deposit?
If you have not verified your linked yet and you have received your Digipass and initial PIN, you can login to the Online banking and click on the “Verify linked account” text in the first screen.
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Are there any transactional features on the account (ATM, Cards)?
Your RaboDirect account has many options such as a regular saver, option to buy Term Deposits, option to buy Managed Funds but we don’t provide ATM access, credit or debit cards, bill payments or 3rd party payments.
Our primary focus is to provide you tools for your personal / business wealth management.
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Where is your closest branch?
RaboDirect is an Online bank, therefore we are available on every PC with an internet connection. Rabobank Australia does have a number of offices around Australia and a head office in Sydney, but the website and our customer experience centre are normally best equipped to help you with any question or request you might have. So please don’t hesitate to contact us on 1800 445 445 between the hours of 8am and 7pm Monday - Friday (AEST time) or send us an e-mail on info@rabodirect.com.au
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Why do I need a Digipass?
RaboDirect is an Online bank, therefore we are available on every PC with an internet connection. Rabobank Australia does have a number of offices around Australia and a head office in Sydney...
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Why can I only open one account with RaboDirect?
If you open an account with RaboDirect you will get access to a number of products such as a High Interest Savings account, a PremiumSaver account, ability to set up Term Deposits and the ability to buy Managed Funds.
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Where can I download an account opening form?
To ensure you have the correct form please contact us on 1800 445 445 between the hours of 8am and 7pm Monday - Friday (AEST time), we can then email or post you the applicable forms and additional documents.
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