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Changes to Westpac services for CCFS customers

Two recent changes have impacted Over the Counter (OTC) services provided to CCFS clients by Westpac.

  1. Large cash deposits. Westpac have introduced a daily account limit of $7,500 for over the counter cash deposits. Cash deposit over $7,500 will need to be deposited to your account over multiple days.
  2. Review of the overall agency arrangement. The current agreement between Westpac and Indue/CCFS expires 30 December 2020. Some Westpac branches have turned away CCFS customers through a misunderstanding of the agreement’s end date. If this has happened or does happen to you, please contact CCFS and we will rectify the situation.

The accounts and investments in this advertisement are debentures products and not deposit products. Churches of Christ Financial Services is a division of Baptist Financial Services (BFS) ABN 56 002 861 789 AFSL 311062 is a Registered Charity and issuer of the debentures products. BFS (and therefore CCFS) is not prudentially supervised by APRA. Therefore, an investor in our products will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in our products are intended to be a means for investors to support the charitable purposes of CCFS. We are required by law to notify investors that our products are intended only to attract investors whose primary purpose is to support our charitable purposes, are not comparable to investments with banks, finance companies or fund managers, and investors may be unable to get some or all of their money back when they expect or at all. Persons should consider whether or not the debentures are appropriate for them.

Indue Limited ABN 97 087 822 464 (registered office located in Brisbane) is the issuer of the CCFS Minister’s Expense Card Visa Prepaid Card (MEA Visa). AFS Licence No. 320 204. Churches of Christ Financial Services is a division of Baptist Financial Services Australia Limited ABN 56 002 861 789 (AFS Licence No. 311 062) and is an agent of Indue. Please refer to the Financial Services Guides. The Product Disclosure Statements and Target Market Determinations are available for the MEA Visa Prepaid Card and can be obtained on our website at https://www.ccfsaustralia.org.au. You should consider the Product Disclosure Statements and Target Market Determinations in deciding whether or not to acquire this card.

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