General Questions

You can view the current interest rates available for a Prime Select Online Term Deposit here

These FAQs outline some commonly asked questions, but the full Terms & Conditions of your Online Term Deposit are available here.

Please read these Terms & Conditions carefully before making an application.

You can apply for a Prime Select Online Term Deposit online at this website by clicking the Apply Now button available on the home page.

Please note the minimum initial deposit is AUD$1 million, and the maximum deposit available is AUD$10 million.

When you complete your Application form, you will be asked to also complete a Direct Debit Service Agreement which will include your nominated bank account and the amount of your initial deposit.

This form will then be sent to your nominated bank who will arrange for the initial deposit to be credited to your Prime Select Online Term Deposit.

Not all bank accounts allow funds to be withdrawn and deposited into another institution, so you should check to make sure that the account you wish to link has this access.

You do not need to send cheques or cash to open your account. Please note we do not accept cheques or cash.

To certify a document, an "acceptable person" must clearly write: "I hereby certify this document is a true copy of the original document shown to me" and then put the following information:

• Signature
• Date
• Full Name (printed)
• Address
• Phone Number
• Qualification
• Registration Number

Contact details of the "acceptable person" can be either work or residential. Individuals certifying documents need to certify every page of the document. If they only wish to write on the first page, they must clearly state that they are certifying the entire document (i.e. all pages).

An "acceptable person" (cannot be a relative of the account holder) may include:

1. A legal practitioner on the roll of the Supreme Court of a State or Territory, or the High Court of Australia
2. A judge
3. A magistrate
4. A chief executive officer of a Commonwealth court
5. A registrar or deputy registrar of a court
6. A Justice of the Peace
7. A notary public (for the purposes of the Statutory Declaration Regulations 1993)
8. A police officer
9. An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public
10. A permanent employee of the Australian Postal Corporation with 2 or more years continuous service who is employed in and office supplying postal services to the public
11. An Australian consular officer or an Australian diplomatic officer
12. An officer with 2 or more continuous years of service with one or more financial institutions
13. A finance company officer with 2 or more continuous years of service with one or more finance companies
14. An officer with, or a representative of, a holder of an Australian financial services licence having two or more years continuous service with one or more licensees
15. A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership.
16. A chiropractor
17. A dentist
18. A legal practitioner
19. A medical practitioner
20. A nurse
21. An optometrist
22. A patent attorney
23. A pharmacist
24. A physiotherapist
25. A psychologist
26. A trade marks attorney
27. A veterinary surgeon

Once you have opened an Online Term Deposit, you will be issued with a Client ID and temporary Password. You can choose your own Password after logging in for the first time.

After this, you can log in to your account via our website at any time to view your account balance, or make changes to your account.

Please note this is an online account and paper statements will NOT be sent to you. You can print statements of your account at any time by logging in to our website using your Client ID and Password.

Don't panic. Just contact us at help@primeselect.com.au and we will be glad to help you.

Your Online Term Deposit is for a fixed period, selected by you when you open your account. For example 1, 2, 3, 4 or 5 years.

We understand however that circumstances can sometimes change. If you need early access to your deposit please contact us at help@primeselect.com.au and we will be glad to discuss this with you. Please note early access is at our discretion, and may involve a reduction in your accrued interest.

You can change your account details by logging on to your account via our website. Enter your Client ID and Password at the login screen and your account details are fully available.

Some changes to your account can be made online, like changes to your contact details, but others may require a signed form from you, like changing authorised users.

Any changes requiring a form are fully explained once you have logged on to your account, and any relevant forms are also available there.

You can contact us a number of ways including:

By email: help@primeselect.com.au

By phone at: 1300 608 048

By facsimile at: 1300 608 049

By post at: GPO Box 4050, Sydney NSW, Australia, 2001

At Prime Select, we are committed to ensuring the confidentiality and security of your personal information. We are bound by the Privacy Act and the National Privacy Policy Principles regulated by the Federal Privacy Commissioner to guide us in our responsible handling of your personal information.

The Prime Select Privacy Statement provides an overview of the key aspects of our Privacy Policy in relation to your personal information. You can view the Prime Select Privacy Policy here.

Our privacy statement may be updated from time to time, as we strive to improve the standard of service we provide to you.

The Federal Australian Government's Deposit Guarantee does not apply to Online Term Deposits with Prime Select.

New legislation has been introduced by the Australian Government and is similar to legislation already implemented in many countries around the world. We all need to comply with these laws, which help to protect us from money laundering and terrorism financing, and assist law enforcement to identify criminals. The new legislation is: The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and applies to all institutions providing banking and other financial services, as well as gambling and bullion dealers. This will soon extend to other service providers such as lawyers, accountants, and real estate agents.

If you're opening a new account Prime Select will need to verify your identity. You may be requested to provide us with documents to confirm this information. Your account application form will outline what is required. The identification documents that you choose to send in, must be a certified copy of the original or the original itself.