Category: Latest News

Medicare Phishing Scams

Medicare phishing scams: what members need to know

Medicare phishing scams are designed to pressure you into sharing personal or financial information by pretending to come from a trusted government service.

Scammers often contact people by text message or email, claiming there is an issue with their Medicare account. These messages are designed to look legitimate and create urgency, encouraging you to act before you have time to question whether they’re genuine.

Common claims used in these scams include:

  • You have an unclaimed Medicare payment or rebate
  • Your Medicare services have been frozen, stopped or suspended
  • Your Medicare account needs to be updated
  • Your Medicare card has expired
  • Your Medicare insurance details are missing or incomplete

The message will usually ask you to click a link, copy and paste a web address into your browser, or scan a QR code to “fix” the issue. These links can take you to fake websites designed to steal your information.

Once scammers have your personal details, they may attempt identity theft, access your bank accounts, or use the information to commit further fraud.

Warning signs to watch for

Be cautious if you receive unsolicited messages about Medicare, particularly if they include links or demand immediate action. Scam messages often rely on fear or urgency to prompt a response.

Red flags include:

  • Requests to click links in text messages or emails
  • Instructions to scan QR codes or copy a URL to log in
  • Requests for payment details, credit card information, or fees
  • Messages that threaten service cancellation if you don’t respond

It’s important to know that legitimate Medicare communications don’t operate this way. For example, if your Medicare card is nearing expiry, a replacement card is usually issued automatically and sent out weeks in advance — no action is required from you.

What to do if you receive a suspicious message

If you think a message claiming to be from Medicare might be a scam:

  • Don’t click links, scan QR codes, or reply to the message
  • Don’t provide personal or financial information
  • Delete the message once you’ve reported it

If you’ve already clicked a link or shared information, act quickly. Contact your bank or financial institution straight away so they can help protect your accounts.

Even if you haven’t lost money, reporting suspected scams can help protect others and reduce the impact of these attacks across the community.

Romance Scams

Romance scams are designed to build trust quickly, taking advantage of emotions to manipulate you to hand over your money. These cybercriminals often hide behind fake photos and profiles, and in some recent cases, they have even turned to artificial intelligence to impersonate famous personalities.

According to data from Scamwatch, romance scams were among the top three most financially damaging type of scam in Australia in 2025. Nearly 3,500 romance scams were reported last year, resulting in more than $28.6 million in losses.

In these scams, cybercriminals create fake profiles online, using stolen photos and fabricated identities. They ‘make the first move’ and initiate contact with their target, showering them with affection and gradually building a rapport.

Typically, scammers quickly move conversations onto private channels like texts or emails, which helps them avoid detection and gives them more control over the interaction.

Some scammers may ask for money immediately while others may invest weeks, months, even years, to cultivate trust and a seemingly genuine relationship. This makes it even harder to recognise the scam, as the victim truly believes they are in a committed relationship.

Spotting the red flags

Be wary of profiles and photos that seem too good to be true, especially if the person’s online presence is limited. Keep an eye out if they try to dodge phone calls or video chats, with excuses about technical difficulties or other issues, or if they make justifications about why they can’t meet in person or access their own money.

Note any inconsistencies in the chats or on their profile, and whether they try to build a bond quickly by expressing love and affection very early on.

Some scammers may even try to discourage you from discussing the relationship with friends and family, isolating you from those who could offer support and potentially identify the scam.

What to do if you suspect you’ve been scammed

With romance scams, the requests for money are often repeated until the victim stops sending money, or the scammer may disappear when funds have run out or no money has been sent.

If you encounter a suspected romance scam, it’s crucial that you act quickly. If you shared personal identification information or payment details, contact your bank or financial institution immediately to secure your account.

Even if you haven’t lost any money, reporting the scam helps prevent further fraud and can assist other potential victims.

ATO Impersonation Scams

ATO impersonation scams are designed to pressure people into sharing personal or financial information by pretending to come from a trusted government body. These scams can happen at any time of year and often increase when people are expecting tax refunds or are unsure about their tax status.

Scammers rely on fear, urgency or the promise of a refund to manipulate victims into acting quickly. They may contact you by email, text message or phone call, claiming to be from the Australian Tax Office (ATO), myGov or another government service.

These messages can look convincing and may reference real tax processes, making them harder to recognise as scams — especially if you’ve recently lodged a return or are unsure whether you’ve met your obligations.

How ATO impersonation scams work

In many cases, scammers contact people claiming:

  • Their taxable income has been recalculated
  • They are eligible for a refund or compensation
  • There is an issue with their tax record or myGov account
  • Immediate action is needed to avoid penalties or debt recovery

To “resolve” the issue or receive a payment, victims are asked to click a link, scan a QR code, download an attachment, or provide sensitive information such as their Tax File Number (TFN), driver licence details, Medicare information or bank account details.

Some scams may even threaten legal action or payment demands, while others promise unexpectedly large refunds. Both approaches are designed to create urgency and override caution.

Red flags to watch for

Messages or calls claiming to be from the ATO are likely a scam if you notice any of the following:

  • Links or QR codes asking you to log in to view a refund, update details or make a payment
  • Requests for personal or financial information via email, SMS or phone
  • Attachments to download, which may install malicious software on your device
  • Threats of penalties, arrest or legal action if you don’t act immediately
  • Requests to pay a fee to receive a tax refund

It’s important to know that the ATO does not send unsolicited messages with links or QR codes asking you to log in to online services, and they don’t charge fees to process refunds.

What to do if you receive a suspicious message

If you think a message or call claiming to be from the ATO might be a scam:

  • Don’t click on links, scan QR codes or download attachments
  • Don’t share personal details such as your TFN, myGov login or bank information
  • Don’t send money or make payments under pressure

Instead, independently verify the contact by accessing services directly through official websites or trusted phone numbers. If you’re unsure, it’s safer not to respond at all.

If you’ve already engaged with a scam

If you’ve clicked a link, shared information, or made a payment, act quickly. Contact your bank or financial institution immediately so steps can be taken to secure your account and reduce potential losses.

Reporting suspected scams — even if you haven’t lost money — helps protect the wider community and makes it harder for scammers to target others.

At Border Bank, protecting our members is a priority. Staying informed and taking a moment to stop and check unexpected messages can make a critical difference.

interest-rates-05-04-2024

Rates Announcement – 08 May 2026

Following the Reserve Bank of Australia’s (RBA) May 2026 decision to increase the official cash rate by 0.25% p.a., we will be updating interest rates across our Home Loans and Savings Accounts. Here’s a summary of what’s changing and when these updates take effect.

What’s changing?

Savings Accounts

We will increase some of our interest rates on the following products;

  • U30 SUPER CHARGE interest rates will increase by 0.25% p.a. from 5.00% p.a. to 5.25% p.a. effective from May 15, 2026
  • The Savings Plus interest rates will increase effective from May 15, 2026, with changes applying as follows:
    • Tier 2 balances between $50,000 and $99,999 will increase by 0.25% p.a. from 1.50% p.a. to 1.75% p.a.
    • Tier 3 balances between $100,000 and $249,999 will increase by 0.25% p.a. from 4.25% p.a. to 4.50% p.a.
  • Bonus Saver (Bonus Rate only) will increase by 0.25% p.a. from 4.25% p.a. to 4.50% p.a. effective from June 1, 2026.

The rates for each balance tier apply to the entire account balance, up to the limits stated.

Variable Rate Home Loans

  • For existing borrowers: Effective May 15, 2026, interest rates for existing variable rate home loans will increase by 0.25% p.a.
  • For new borrowers: Effective May 15, 2026, interest rates for new variable rate home loans — including Goldrate, Police Value (Owner Occupied and Investment), First, and Essential Workers home loans — will increase by 0.25% p.a., reflecting the RBA increase.

Overdrafts

  • Effective May 15, 2026, the interest rate for Equity Maximiser Loan and Equity Maximiser Trans accounts will increase by 0.25% p.a. from 6.20% p.a. to 6.45% p.a.

Information and interest rates are current as at the date of publication and are subject to change.

For more information on changes to our interest rates, and relevant comparison rates, visit our Interest Rates page.

Terms and conditions, lending and eligibility criteria apply and are available here.

Notice of Change: effective 28 May 2026

8 May 2026

We’ve updated our Schedule of Fees and Charges – Equity Maximiser to reflect changes to Transaction Fees:

What’s changed?

We’ve updated our Schedule of Fees and Charges – Equity Maximiser to provide more information on how fees and rebates apply for transaction fees including ATM fees. We’ve also removed some fees that are no longer being charged.

The updated Schedule of Fees and Charges – Equity Maximiser comes into effect on 28 May 2026.

We recommend you read the summary of changes and updated Schedule of Fees and Charges – Equity Maximiser to familiarise yourself with what’s new.

Read Notice of Change

We’re here to help

If you have any questions or need help, call us on 131 728, or +61 2 9287 0888 (if calling from overseas), Monday to Friday from 8am to 6pm AEST.


Notice of Change: effective 28 May 2026

8 May 2026

We’ve updated our Terms and Conditions to clarify how bonus interest is earned for S23 Bonus Saver and S24 Dynamo/Flex accounts:

What’s changed?

We’ve updated our Terms and Conditions to clarify how bonus interest is earned for S23 Bonus Saver and S24 Dynamo/Flex accounts. We have also increased the deposit limit for Bank@Post transactions when using a debit card.

The updated Terms and Conditions come into effect on 28 May 2026.

We recommend you read the summary of changes and updated Terms and Conditions to familiarise yourself with what’s new.

Read Notice of Change

We’re here to help

If you have any questions or need help, call us on 131 728, or +61 2 9287 0888 (if calling from overseas), Monday to Friday from 8am to 6pm AEST.


interest-rates-05-04-2024

Rates Announcement – 05 May 2026

We’ve made some changes to our Fixed Rate Home Loans and Term Deposit pricing, effective Tuesday May 5, 2026.

Here’s a summary of what’s changing and when these updates take effect.

What’s changing?

Term Deposits*

Effective May 5, 2026, Term Deposit interest rates will increase as follows:

  • 6 months: increasing from 4.65% p.a. to 4.85% p.a.
  • 12 months: increasing from 4.70% p.a. to 5.00% p.a.

*Interest is paid at maturity and rates may differ slightly depending on interest payment frequency.

Home Loans

Fixed Rate Home Loans (including Owner Occupier, Investor, Principal & Interest and Interest Only loans)

  • Effective May 5, 2026, interest rates for new fixed home loans will increase across all fixed terms and all LVR tiers.

Information and interest rates are current as at the date of publication and are subject to change.

For more information on changes to our interest rates, and relevant comparison rates, visit our Interest Rates page.

Terms and conditions, lending and eligibility criteria apply and are available here.

interest-rates-05-04-2024

Rates Announcement – 19 March 2026

Following the Reserve Bank of Australia’s (RBA) March 2026 decision to increase the official cash rate by 0.25% p.a., we will be updating interest rates across our Home Loans, Savings Accounts and Term Deposits. Here’s a summary of what’s changing and when these updates take effect.

What’s changing?

Savings Accounts

We will increase some of our interest rates on the following products;

  • U30 SUPER CHARGE interest rates will increase by 0.25% p.a. to 5.00% p.a. effective from March 20, 2026
  • The Savings Plus interest rates will increase effective from March 20, 2026, with changes applying as follows:
    • Tier 2 balances between $50,000 and $99,999 will increase by 0.25% p.a. from 1.25% p.a. to 1.50% p.a.
    • Tier 3 balances between $100,000 and $249,999 will increase by 0.25% p.a. from 4.00% p.a. to 4.25% p.a.
  • Bonus Saver (Bonus Rate only) will increase by 0.25% p.a. to 4.25% p.a. effective from April 1, 2026.

The rates for each balance tier apply to the entire account balance, up to the limits stated.

Term Deposits*

Effective March 20, 2026, Term Deposit rates will increase as follows:

  • 3 months: increasing from 4.15% p.a. to 4.30% p.a.
  • 4 months: increasing from 4.00% p.a. to 4.30% p.a.
  • 5 months: increasing from 4.00% p.a. to 4.30% p.a.
  • 6 months: increasing from 4.20% p.a. to 4.65% p.a.
  • 7 months: increasing from 4.00% p.a. to 4.65% p.a.
  • 9 months: increasing from 4.55% p.a. to 4.85% p.a.
  • 12 months: increasing from 4.50% p.a. to 4.70% p.a.
  • 24 months: increasing from 4.40% p.a. to 4.60% p.a.
  • 36 months: increasing from 4.00% p.a. to 4.20% p.a.
  • 48 months: increasing from 3.60% p.a. to 4.20% p.a.
  • 60 months: increasing from 3.50% p.a. to 4.20% p.a.

*Rates may differ slightly depending on interest payment frequency.

Home Loans

Fixed Rate Home Loans (including Owner Occupier, Investor, Principal & Interest and Interest Only loans)
  • Effective March 20, 2026, interest rates for new fixed home loans will increase across all fixed terms and all LVR tiers.
Variable Rate Home Loans
  • For existing borrowers: Effective March 27, 2026, interest rates for existing variable rate home loans will increase by 0.25% p.a.
  • For new borrowers: Effective March 27, 2026, interest rates for new variable rate home loans — including Goldrate, Police Value, Customs Value, First, and Essential Workers home loans (Owner Occupied and Investment) — will increase by 0.25% p.a., reflecting the RBA increase.

Information and interest rates are current as at the date of publication and are subject to change.

For more information on changes to our interest rates, and relevant comparison rates, visit our Interest Rates page.

Terms and conditions, lending and eligibility criteria apply and are available here.

Notice of Change: effective 31 March 2026

11 March 2026

We’ve updated our Terms and Conditions and Privacy Policy to help you protect your account and identity:

What’s changed?

We’ve added details to our Terms and Conditions and Privacy Policy explaining how we collect your information to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF). The Product Profiles section of our Terms and Conditions has been updated to align with regulatory requirements and provide more accurate account information.

The updated Terms and Conditions and Privacy Policy come into effect on 31 March 2026.

We recommend you read the summary of changes and updated Terms and Conditions to familiarise yourself with what’s new.

Read Notice of Change

We’re here to help

If you have any questions or need help, call us on 131 728, or +61 2 9287 0888 (if calling from overseas), Monday to Friday from 8am to 6pm AEST.


interest-rates-05-04-2024

Rates Announcement – 3 March 2026

We’ve made some changes to our Fixed Rate Home Loans and Term Deposit pricing, effective Tuesday March 3, 2026.

What’s changing?

Fixed Rate Home Loan changes effective March 3, 2026:

  • 1-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
  • 2-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.
  • 3-Year Fixed Rate Owner Occupier & Investment, Principal & Interest, and Interest Only Home Loans have changed.

Term Deposit* pricing changes effective March 3, 2026:

  • 4-Month Term Deposit interest rates will increase by 0.25% p.a., from 3.75% p.a. to 4.00% p.a.
  • 5-Month Term Deposit interest rates will increase by 1.00% p.a., from 3.00% p.a. to 4.00% p.a.
  • 7-Month Term Deposit interest rates will increase by 1.00% p.a., from 3.00% p.a. to 4.00% p.a.
  • 9-Month Term Deposit interest rates will increase by 0.55% p.a., from 4.00% p.a. to 4.55% p.a.
  • 12-Month Term Deposit interest rates will increase by 0.50% p.a., from 4.00% p.a. to 4.50% p.a.
  • 24-Month Term Deposit interest rates will increase by 0.75% p.a., from 3.65% p.a. to 4.40% p.a.
  • 36-Month Term Deposit interest rates will increase by 0.35% p.a., from 3.65% p.a. to 4.00% p.a.

Information and interest rates are current as at the date of publication and are subject to change.

For more information on changes to our interest rates, and relevant comparison rates, visit our Interest Rates page.

Terms and conditions, lending and eligibility criteria apply and are available here.

*Please note, these rates are for Standard Term Deposits with Interest Paid at Maturity. Term Deposits with different interest frequency may differ in interest rates.