Nexus Mutual and Beyond Bank have merged.

On 17 February 2020, an overwhelming 93.4% of votes cast by Nexus Mutual’s members at a Special General Meeting (SGM) were in favour of the transfer resolution.

Nexus Mutual and Beyond Bank formally merged on 1 March 2020 and system conversion has been planned to take place on 7 June 2020.

What system conversion means for members

On Sunday 7 June 2020, members with Nexus Mutual accounts will transfer over to the Beyond Bank Core Banking System.

There will be important changes to your Nexus Mutual membership, accounts and services, effective 7 June.

We have detailed the changes in an information pack that was mailed out to all members at the start of May 2020. The information pack includes the booklet Important Changes are Coming, also available for download here.

Possible service disruptions at system conversion

As we prepare to integrate our banking system from Saturday 6 June 3am through Sunday 7 June 7am (AEST), you may experience the following service disruptions:

  • Access to your accounts using Internet and Mobile Banking.
  • Nexus Mutual will be unavailable to receive real-time payments via Osko to your PayID during this time. Transactions may revert to non-real time payments depending on how the initiating financial institution handles this scenario.
  • Your Visa Platinum Credit or Visa Debit cards will operate with reduced limits. Please plan ahead if you have significant transactions to make during this time.

Frequently asked questions

Will my member number and account numbers change?

We have added 82 000 000 to your existing member number. For example, if your five-digit Nexus Mutual member number is 12345, then your new Beyond Bank member number will be 82012345.

There is no change to your account numbers.

Will my Nexus Mutual App still work from 7 June?

Your Nexus Mutual App will stop working on 7 June. Please download and log in to the Beyond Bank Mobile Banking App from 7 June to view your profile and accounts.

Will my established payments change?

No, there will be no changes to your established payments, as they will be automatically migrated to Beyond Bank. This means that you will not have to make changes to your existing electronic payments (regular payments, direct debits and direct credits) or your Osko and PayID services, where you have supplied your BSB and account number.

Does that mean I don’t need to update my established payments with Beyond Bank’s BSB?

While the Nexus Mutual BSB will continue to be accepted, we encourage you to update the BSB for electronic payments made from 7 June to 325-185 as we are working towards future consolidation into Beyond Bank’s BSBs. Please use 325-185 when modifying or setting up any new direct debits or credits from 7 June.

Where my member number rather than my account number has been supplied, will real-time payments still work?

From 7 June, where your member number rather than your account number has been supplied for real-time payments to your accounts, these payments will continue to be processed, although they will no longer be instant and are expected to take two to three business days to reach their destination accounts.

To continue to receive real-time payments from 7 June, please provide your registered PayID (mobile or email address) or Beyond Bank BSB 325-185 and account number.

Are all the interest rates in the Important Changes are Coming booklet up to date?

There have been some deposit rate changes since the Important Changes are Coming booklet was printed on 17 April 2020. Please click here for prevailing deposit interest rates.

Who do I call if I need support from Saturday 6 June?

Beyond Bank’s Customer Relationship Centre is available for support on 13 25 85 (+61 8 7201 2400 if calling from overseas), during the following hours:

  • Saturday 6 June – 9.30am to 3.30pm AEST
  • Sunday 7 June – 9.30am to 5.30pm AEST
  • Monday 8 June – 8.30am to 8.30pm AEST

Please be aware that our Customer Relationship Centre team will be unable to make changes to your accounts while system conversion is taking place.

If you have any questions, please contact us on 1300 65 33 28 or email hello@nexusmutual.com.au

About Beyond Bank

Prior to becoming a customer-owned bank in 2013, Beyond Bank was one of Australia’s largest credit unions. Over the years, a number of like-minded organisations have joined Beyond Bank, supporting its core values of mutuality, putting the member first and strengthening local communities.