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 (prior to 14 October 2022) or an electronic funds transfer to the nominated bank account on record.

How was the interest calculated?

We have applied an interest rate based upon how long ago your relevant error occurred. These interest rates are set out in the table below:

When error occurred Rate applied
1 Jan 2023 to 30 Jun 2023 6.50%
1 Jul 2022 to 31 Dec 2022 6.50%
1 Jan 2022 to 30 Jun 2022 6.75%
1 Jul 2021 to 31 Dec 2021 5.50%
1 Jan 2021 to 30 Jun 2021 5.25%
1 Jul 2020 to 31 Dec 2020 4.75%
1 Jan 2020 to 30 Jun 2020 4.75%
1 Jul 2019 to 31 Dec 2019 4.50%
1 Jan 2019 to 30 Jun 2019 4.50%
1 Jul 2018 to 31 Dec 2018 4.50%
1 Jan 2018 to 30 Jun 2018 4.75%
1 Jul 2017 to 31 Dec 2017 4.75%
1 Jan 2017 to 30 Jun 2017 4.75%
1 Jul 2016 to 31 Dec 2016 5.00%
1 Jan 2016 to 30 Jun 2016 5.00%
1 Jul 2015 to 31 Dec 2015 5.00%
1 Jan 2015 to 31 Jun 2015 5.00%
1 Jul 2014 to 31 Dec 2014 5.00%
1 Jan 2014 to 30 Jun 2014 5.25%
1 Jul 2013 to 31 Dec 2013 5.25%
1 Jan 2013 to 30 Jun 2013 5.25%
1 Jul 2012 to 31 Dec 2012 5.25%
1 Jan 2012 to 30 Jun 2012 5.50%
1 Jul 2011 to 31 Dec 2011 5.50%
1 Jan 2011 to 30 Jun 2011 5.50
1 Jul 2010 to 31 Dec 2010 5.75%
1 Jan 2010 to 30 Jun 2010 5.75%

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.

Note: HBF no longer issues or accepts cheques. If you are unable to bank a cheque you previously received from HBF, please call us 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.