By opening a Streamline Basic on behalf of our child:
- Agree to the Financial Services Guide, Transaction, Savings and Investment Accounts Terms & Conditions and the Transactions, Savings and Investment Account Terms & Conditions addendums specific to Nauruan customers and Electronic Banking Terms and Conditions (collectively, The Terms and Conditions). You understand that until such point as our Commonwealth Bank Agency in Nauru is fully operational, some of the services in our Terms and Conditions may be unavailable to you.
- Acknowledge that you will have access to our AI-powered virtual assistant, used by the Bank to assist customers by providing quick responses through NetBank and the CommBank app to various banking queries and tasks. However, please note that we are in the process of disabling this functionality for Nauruan customers and you should not rely on any information provided to you via this service while it is available to you. In the event that you require support with everyday banking tasks, help with resolving issues or you have a general enquiry, please contact us directly for further support.
- By opening an account for your child and being set up as a parent/guardian authorised operator you consent to having NetBank access to manage your child's account
- Acknowledge you will be automatically registered for NetBank; a secure, online place for you to manage your finances and will be provided with your login details via email;
- Direct the bank to issue statements of account electronically to NetBank or the CommBank app. We'll let you know via NetBank and email when your statements are available, so it's important that you let us know if you change your email address;
- Allow the Bank to issue any account notices or correspondence electronically where the Bank is required to provide you notice of changes in writing. The Bank may also notify of changes by displaying a public notice at the Agency in Nauru;
- Acknowledge that where electronic delivery of statements, notices or other account correspondence is not possible, the communications may be delivered to the Commonwealth Bank Agency in Nauru and/or you may not receive account communications;
- Acknowledge that your default postal address will be set to the Commonwealth Bank Agency in Nauru;
- Where applicable, acknowledge that you can update your Tax File Number (TFN) or Tax Identification Number (TIN) details any time using NetBank or the CommBank app. The Bank is authorised under the Income Tax Assessment Act to collect TFNs. It's not an offence if you don't provide it, but by law, we must then withhold a portion of the interest earned on the account;