2021 2022 -SubTitle

2021 2022

Availability of Payments Services to Individuals and Businesses Provided by Teachers Mutual Bank Limited*

Selected services: September quarter 2021

  Payment service

Withdraw/deposit cash at an ATM

Transact over-the-counter in a branch

Make card payments (cardholders)

Accept card payments (businesses)

Access accounts using online banking (web browser or mobile device app)

Make/receive account transfers – fast payments

Make/receive account transfers – next business day

Service availability % 100.00 100.00 100.00 NA 100.00 100.00 100.00
Significant outages due to problems at Teachers Mutual Bank Limited (in hours) 0:00 0:00 0:00 NA 0:00 0:00 0:00
Significant outages due to problems at system-wide infrastructure or natural disasters (in hours) 0:00 0:00 0:00 NA 0:00 0:00 0:00

* For detailed information on the compilation of the disclosure data, see RBA Reliability Disclosures (PDF)

What does the information in the data table mean?

Service availability %

Amount of time that the service is not experiencing a significant outage, as a proportion of the amount of time during which the service was planned to be available in the quarter. Planned available time excludes planned outages (e.g. for system maintenance).

Significant outage

Unplanned unavailability of a service that meets minimum thresholds for duration and the proportion of customers affected.

System-wide infrastructures

Includes payment systems provided by the RBA; card schemes and other central payment system infrastructure; electricity network; and provider of telecommunications network links to Teachers Mutual Bank Limited’s operating or data centres.

Withdraw/deposit cash at ATM

Ability to withdraw or deposit cash, and check account balance, at a Teachers Mutual Bank Limited-branded ATM. Excludes issues relating to the cardholder’s card.

Transact over-the-counter at a branch

Ability to withdraw or deposit cash or initiate account transfers or make bill payments over-the-counter in a branch. Excludes the ability to draw and deposit cheques. Excludes [email protected] outlets.

Make card payments (cardholders)

Ability to use a Teachers Mutual Bank Limited-branded debit, prepaid or credit card to make a payment either in-store, on a mobile device (e.g. through an app) or online. Outages exclude problems with the business’ payments device or payments provider or a customer’s mobile device.

Accept card payments (businesses)

Not applicable.

Access accounts using online banking (web browser or mobile device app)

Ability to log in, transfer between own accounts at Teachers Mutual Bank Limited, initiate payments and/or view accurate and up to date account information. Excludes the ability to process payments, which is covered in ‘make/receive account transfers (fast payments)’ and ‘make/receive account transfers (the next business day)’.

Make/receive account transfers – fast payments

Ability of Teachers Mutual Bank Limited to process fast bank account transfers. This includes account-to-account transfers (Pay Anyone) to a PayID, and other one-off or scheduled payments (for example, direct debits and payroll payments by businesses) made through NPP/Osko. Outages exclude the inability for customers to initiate transfers due to unavailability of web or app banking channels, or a branch.

Make/receive account transfers – next business day

Ability of Teachers Mutual Bank Limited to process bank account transfers, with funds becoming available to the recipient on the next business day or later. Includes account-to-account transfers (Pay Anyone) and scheduled payments (for example, direct debits, and payroll payments by businesses) not made as fast payments through NPP/Osko, and BPAY payments. Outages exclude the inability to initiate payments due to unavailability of web or app banking channels, or a branch.

Why is this information important for you?

You’ll get accurate and timely information about the reliability of our payment services. This initiative will also enable us to improve our measurement and benchmarking of our operational performance. This will enable us to continue to make improvements to the payment services we provide to you.

How often are we sharing this information?

We’ll share the latest information on the reliability of our payment services on the 15th day of the second month after every quarter (for example, on 15 November for the September quarter).

Why are we sharing this information with you?

We’re participating in an initiative from the Reserve Bank of Australia to promote the reliability of retail payment services.

What broader implications does disclosing payments data have for the banking industry?

Enhanced data collection of payment incidents from banks enables the Reserve Bank to undertake more detailed industry benchmarking. The Reserve Bank will make changes based on this data to enable the industry to better measure, analyse and benchmark operational performance.