St George Bank Australia

CommBank, Westpac, NAB, St George cancel credit cards after security breach

A breach at a merchant has forced Commonwealth Bank, National Australia Bank, Westpac and its St George unit to cancel thousands of credit cards in the latest security issue to affect bank customers.

The Commonwealth Bank, which has blocked 8000 credit cards, said it had taken steps to alert customers to the breach after it became aware of the problem through an Australian merchant acquired by another bank.

Westpac has also been stung, with "a relatively small number of cards" blocked after becoming aware of the security issue.

The bank confirmed that some customers' cards had been cancelled due to fears they would be open to fraud.

NAB also confirmed it had cancelled cards after "a small number" of its accounts had been compromised.

ANZ said the merchant involved was not one of its clients but it was still "monitoring the situation".

Westpac-owned St George Bank has also reported cancelling "a small number" of cards as a result of the security concern and said there had been no compromise of data.

While the banks have begun reissuing cards, the cancellations could potentially leave thousands of people without access to money this weekend.

"In this situation security comes first," Westpac spokesman Paul Marriage said.

The Commonwealth Bank said it detected the potential security breach through its continuous monitoring process.

"The Commonwealth Bank immediately alerted the Card Schemes MasterCard and Visa to the compromise and also the bank involved," CBA spokesman Steve Batten said.

"As the Commonwealth Bank takes protection of customer data very seriously, we have moved immediately to protect the accounts of our customers."

The bank has already contacted customers via SMS, email and letters to advise that their cards have been cancelled.

"We have started that process of reissuing cards. This issue impacts 8000 customers, but any of these customers that is concerned about accessing should visit one of our branches. We of course will also reverse any fees they may incur as a result of this, " Mr Batten said.

The banks said any customers who have been affected by the breach would be reimbursed.

The breach is the latest problem to beset the banks.

A technical glitch in March had CommBank ATMs issuing extra notes. The glitch caused a rush at cash machines, and ended up with the police having to track down customers to recoup the funds.

St. George Youth & Student Bank Account Options | Savings Account ...

The St. George student bank account allows students to start on the right path with money management at a young age. This means giving children and students the necessary financial awareness they need to help them learn good money habits.

The Complete Freedom Student Account < is especially for full-time students and apprentices. With no monthly fees and no minimum account balance required, this type of account can be ideal for young people to begin learning about sensible money habits.

This kind of St. George Student Bank Account offers young people unlimited access to their money at any St. George, Westpac or Bank SA ATMs around Australia. There is also no limit to the number of deposits, withdrawals, direct debits, EFTPOS transactions with this type of student account, which can be a great benefit.

For students receiving Youth Allowance or Austudy payments, it’s possible to automate deposits and payments using direct credits, so you’ll always know your money will arrive in your account on time. If you have payments to make on regular bills, then setting up direct debits to pay your bills automatically is also a great way to avoid paying important expenses past the due date.

There are also plenty of calculators and downloads available to students, all designed to help them create budgets, understand savings goals and make banking fun.

In order to qualify for the St. George Bank student account, you will need to bring a Student Identification Card and a letter from your school, college or educational institution showing that you really are a full-time student.

If you’re an apprentice, then you may also need to provide a letter from your State Training Authority, stating that you are registered in an apprenticeship. Your letter will show details like your apprentice registration number, your apprenticeship contract identification and when you’re due to complete your apprenticeship training.

St. George Bank student accounts are also available for students under the age of 13. The Happy Dragon club is automatically available to any child under 13 with an Incentive Saver Account or a Complete Freedom Account.

The Happy Dragon Club is designed to help kids develop sensible money habits at a very young age and aims at making banking and saving fun. The club offers members regular newsletters containing plenty of fun and interesting ways to keep them interested in the progress of their savings.

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