Frequently Asked Questions

More information about your recent refund.

Why did I receive a refund?

During a recent review, we identified several processing errors which we are taking action to rectify. These errors relate to incorrect calculations impacting either a claim or the misapplication of a discount within a 10-year period. If you were impacted, you would have been advised of the error and refund payment by email or letter. We may have provided you with a cheque or an electronic funds transfer to the nominated bank account on record.

How was the interest calculated?

The refund payment will include interest. Based upon when the processing error occurred, we have applied the following interest rate to your refund.

When error occurred Rate applied
1 Jan 2010 to 31 Dec 2010 5.75%
1 Jan 2011 to 30 Jun 2012 5.50%
1 Jul 2012 to 30 Jun 2014 5.25%
1 Jul 2014 to 31 Dec 2015 5.00%
1 Jan 2016 to 31 Dec 2017 4.75%
1 Jan 2018 to 30 June 2018 4.50%
1 Jul 2018 to 31 Dec 2018 4.25%
1 Jan 2019 to 31 Dec 2019 4.00%
1 Jan 2020 to 30 June 2020 3.75%
1 Jul 2020 to 30 June 2021 3.98%

These rates are based on statutory interest rates as determined under applicable legislation. If you would like to know more information about when your error occurred, please contact us on 133 423 or visit your local branch.

I’ve changed my name and can’t bank the cheque?

Please call us on 133 423 and we’ll help rectify this issue.

I have received a cheque, can I be paid via an electronic funds transfer (EFT) instead?

You may have been issued with a cheque as we don’t have your direct credit details on record or you are no longer an HBF member. If you are unable to cash your cheque, please call us asap on 133 423 to arrange an electronic funds transfer.

I haven’t received the refund via electronic funds transfer?

Please call us on 133 423 and we’ll help investigate this issue.

Do I have to do anything?

We have liaised with all relevant agencies regarding this remediation (such as any applicable Australian Government rebate changes), so want to reassure you that no further action is required. However, if you have any questions please don’t hesitate to contact us contact us on 133 423 or visit your local branch.