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?

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 2008 to 30 Jun 2008 6.25%
1 Jul 2008 to 31 Dec 2009 6.00%
1 Jan 2010 to 31 Dec 2010 5.75%
1 Jan 2011 to 31 Dec 2011 5.50%
1 Jan 2012 to 31 Dec 2013 5.25%
1 Jan 2014 to 30 Jun 2015 5.00%
1 Jul 2015 to 30 Jun 2017 4.75%
1 Jul 2017 to 30 June 2018 4.50%
1 Jul 2018 to 31 Dec 2018 4.25%
1 Jan 2019 to 30 Jun 2020 4.00%
1 Jul 2020 to 31 Dec 2020 4.25%
1 Jan 2021 to 30 Jun 2021 4.50%

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.