Banking Security

• Enable SMS Secure for added protection by adding your mobile number to internet banking 
• Access our website by typing the address directly into your browser 
• Keep your antivirus and firewall software up to date 
• Don’t use passwords or PINs that are easy to identify
• Avoid writing down or storing passwords/PINs on devices 
• Use strong, unique passwords and change them regularly 
• Ensure your data is encrypted (look for the padlock symbol on your browser) 
• Log out from the internet banking menu and close your browser when done 
• Do not click any pop-ups while using internet banking  
• If you lose your device, contact us immediately for assistance. 
• Never share personal info via text especially passwords and PINs 
• Avoid downloading suspicious files and using unsecured Wi-Fi networks 
• Lock your device with a passcode and ensure it auto-locks when not in use
• Check your accounts regularly for unusual activity.

Make sure you have read  Elders Finance Banking Services Terms and Conditions. 
Remember: Other online services may have separate terms and conditions and security information.

Our free SMS Secure service gives you peace of mind by ensuring no changes are made to your Elders Finance account without your knowledge. With SMS Secure, you’ll receive an SMS whenever: 

• A transfer is requested to a new third-party payee 
• 'Add to Payee List' is selected on the Internet Banking payment page 
• An existing payee’s BSB or account number is edited 
• Changes are made to your contact details in My Profile.

Remember: We’ll never ask for your online banking password, card PIN, or SMS verification codes. If you receive a suspicious call or message from someone claiming to be Elders Finance, please hang up, don’t click on any links, and contact us directly. 

Important points

• You will need to set up new third-party payments using Internet Banking once registered for SMS Secure. 
• If you wish to transfer funds to a third party will need to adopt Internet Banking SMS Secure. 
• Provided there are no changes, payee authentication by SMS Secure, is only required when the payee is created.

It’s important to familiarise yourself with the Terms and Conditions for banking services, as well as any terms provided by our product partners and financial service providers. These terms outline your rights, obligations, and any restrictions, as well as how to report a lost, stolen, or compromised card or PIN. 

To help protect yourself from card fraud and scams, consider the following steps:

• Never share your PIN, Access Code, or Password - keeping this information secure is key to preventing unauthorised transactions. 
• Choose a PIN, Access Code, or Password that’s not easy to guess (avoid personal information like your birthdate). 
• If your card is lost or stolen, or your PIN is compromised, contact us immediately. 
• Notify us if you suspect any unauthorised transactions or account compromises. 
• Always keep your card secure. 
• Lock your letterbox if expecting a card and let us know if it’s delayed. 
• Consider lowering your credit card limit to reduce risk. 
• Shred or cut up expired or cancelled cards before disposing of them. 
• Be mindful when using ATMs or EFTPOS; don’t let others see your PIN. 
• Be alert for card skimming devices or PIN cameras on ATMs - report anything unusual. 
• Keep your card in sight when using EFTPOS. 
• Regularly review your account statements for unauthorised transactions. 
• Enable Visa Secure for added protection on your Elders Finance Visa Card.

Remember: we will never ask you for your online banking password, card PIN, or SMS verification codes. If you receive a call claiming to be from Elders Finance and haven’t submitted an enquiry or been in contact with us, hang up and contact us directly.

For further tips and guidance on protecting yourself from scams, please refer to the Scam Awareness and Scam Types sections below.

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in the unlikely event that a financial institution fails. The Scheme is also referred to as the Australian Government guarantee on deposits. 

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA). Auswide Bank Ltd ABN 40 087 652 060 (Australian Financial Services Licence 239686) is an ADI authorised by APRA.

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by APRA, with the aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

The FCS limit of $250,000 applies to the sum of an account holder’s deposits under each banking licence (and so includes accounts with any other banking businesses that the licensed banking institution may operate under a different trading name). All deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licensed banking institution may operate under a different trading name. If you have an Elders product as well as a product branded as Auswide Bank Ltd, the combined total of these accounts will be counted towards your $250,000 limit. 

All accounts types offered by Elders Finance are covered by the FCS, as detailed on this list. 

APRA is responsible for the promotion of the safety and soundness of Authorised Deposit-taking Institutions (ADIs), also known as prudential supervision. APRA provides a consistent approach to the supervision of both banks, building societies and credit unions, with all ADIs subject to the same Prudential Standards, including capital adequacy standards.

Capital is the cornerstone of an ADI's strength. The maintenance of adequate capital reserves provides continued assurance that the ADI can continue to honour its obligations to depositors and creditors.

ASIC can take action against misleading and deceptive conduct, and also regulates matters affecting incorporation, corporate governance and disclosure. ASIC has issued Elders with an Australian Credit Licence and an Australian Financial Services Licence (Number 237757). Elders is authorised to distribute products which are issued by Auswide Bank Limited ABN 40 087 652 060 Australian Financial Services Licence 239686 (Auswide Bank). 

As a credit licensee, Elders must engage in credit activities efficiently, honestly and fairly, as well as maintain organisational competence and manage conflicts of interest. 

As a financial services licensee, Elders is required to have adequate financial resources for the performance of its activities, maintain employee competence, skills and experience in financial services and provide adequate systems for training and supervision.

The ultimate holding company of Elders is Elders Limited ACN 004 336 636 which is a listed company on the  Australian Stock Exchange Limited (ASX). Elders Limited is required to meet strict reporting and disclosure requirements.  

Disclosure 

As part of its regulatory responsibilities, Elders Limited provides on-going disclosures and reports, so that you’re aware of how that organisation is performing. These documents include Corporate Annual Report,  results announcements, Sustainability Report and more. Visit the Elders Investor Hub to find out more.

• Update your passwords: Create strong, unique passwords with at least 8 characters, using a mix of upper and lower-case letters, symbols, and numbers. Change your passwords regularly, and avoid using the same one across multiple accounts. 
• Use PayID: If you need to be paid without sharing your account details, create a PayID using your phone number, email address, or ABN if you’re a business.
• Don’t click on suspicious links: If you receive a suspicious link or attachment from an unknown sender, don’t click on it. Always verify the source before acting.
• Check your statements: Regularly review your bank and credit card statements for any unfamiliar transactions. If you spot something suspicious, contact us immediately.
• Stay alert : We will never ask for your online banking password, card PIN, or SMS verification codes. If you receive a suspicious call claiming to be from Elders Finance, hang up and reach out to us directly.

Here are the things you need to do if you think you've been scammed, or head your identity stolen. 

• Lock/cancel your Visa Card using Internet Banking. 
• Change your access code for Internet Banking. 
• Contact us immediately if you notice any suspicious transactions from your account. 
• Contact IDCARE  for expert help. IDCARE is Australia and New Zealand's national identity and cyber support service. They provide free support for anyone with concerns about their identity or related cyber security. 
• Report the scam via Scamwatch to the ACCC.   
• Contact the ATO  if you know or suspect that someone has stolen your tax file number (TFN).

For further information, other reputable and helpful resources include: 

• Australian Cyber Security Centre (ACSC) 
• Moneysmart 
• Office of the Australian Information Commissioner 

Phishing scams aim to trick you into sharing personal information like your bank account details, passwords, or credit card numbers.

Warning signs to look out for: 

• You receive an email, text, or phone call from someone claiming to be your bank or another trusted business, asking you to update or verify your details. 
• The message doesn’t address you by name and contains spelling or grammar mistakes. 
• The website link looks unusual and asks for information that the legitimate site wouldn’t typically request. 
• You notice new icons on your computer, or your system slows down. 

If you receive any suspicious emails, texts, or calls asking you to update your details, don’t click on any links or open attachments - just delete them immediately. Stay safe and always contact us directly if you’re unsure.

In times of crisis, Australians show incredible generosity by supporting those in need. Unfortunately, this spirit of kindness can be exploited by scammers posing as legitimate charities.

Warning signs to watch for: 

• You’ve never heard of the charity or notice a slight change in a familiar charity’s name. 
• They don’t provide a receipt or the receipt lacks the charity’s name. 
• You’re pressured into donating or made to feel guilty. 

Genuine charities are registered, and you can verify their credentials on the Australian Charities and Not-for-Profits Commission (ACNC) website. If you wish to donate, always contact the charity directly - don’t respond to unsolicited phone calls, texts, or emails.

Romance scams can be difficult to spot, as scammers build seemingly genuine relationships over time, showering you with affection, sharing personal stories, and even sending gifts. But once trust is established, they’ll ask for money, gifts, or banking details.

Warning signs: 

• Messages that escalate quickly from casual conversation to declarations of love. 
• Sending you items like electronics or money with the expectation you’ll send them elsewhere, often covering up illegal activity. 
• Requests for money, gifts, or your banking/credit card details. 

If you suspect you’ve been scammed, contact us or Scamwatch immediately. 

Whether you’re buying or selling, scammers lurk in online marketplaces, posing as genuine buyers or sellers. 

Selling: Scammers may claim they need your help to pay for transportation or insurance, asking for upfront costs with promises of reimbursement.

Warning signs: 

• Willingness to purchase your item without seeing it first, especially for high-value goods like cars. 

Buying: Scammers pose as genuine sellers using images and details copied from legitimate ads. Often scammers advertise items at too-good-to-be-true prices and when you show interest, they may claim they are travelling or have recently moved and someone else will deliver the item. Then they request payment through untraceable methods and may even provide a fake receipt before disappearing with your payment.

Warning signs: 

• Requests to pay via international money transfers, cheques, or direct bank transfers.

Scammers often promise huge returns with little or no risk. If it sounds too good to be true, it probably is. 

Warning signs:

• Unsolicited calls, emails, or social media messages offering investment advice. 
• Repeated pressure to act quickly or risk missing out. 
• Never commit to any investment decision on the spot—take time to research and consider your options.

Scammers promise high-paying easy jobs offering ‘guaranteed’ easy money, but in reality, are trying to steal your money or bank details.

Warning signs: 

• Ads or calls offering guaranteed income or jobs with little effort. 
• Requests for personal details or fees to access job details or materials. 
• No street address, only a PO Box or email address. 

Be wary of unsolicited work-from-home offers or jobs requiring upfront fees. 

Scammers may send fake invoices for services you didn’t request, things like directory listings, advertising, domain name renewals or office supplies you didn’t order. These scammers try to take advantage of people handling administrative duties who may not know if the product or services have been requested. 

Warning signs: 

• Receiving invoices for goods or services you didn’t order, or calls claiming to be from regular suppliers offering goods you’ve never requested. 
• You receive an invoice or a phone call from a business directory or publication you don’t recognise, claiming to ‘confirm’ your entry or advertisement. 
• The caller claims that the government requires you to be listed in their register.  

Keep records of all authorisations for business transactions to spot fraudulent invoices.