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At Sydney Mutual Bank we are continually assessing our technology to ensure we provide a flawless experience and the best security for our members.

To increase the security of your digital transactions and in order to ensure a smooth experience when transferring money to and from your accounts, we have rolled out a few improvements on 16th September 2019 for the Internet Banking with no impact on the mobile app.

Internet Banking login details changes

You now have the ability to change your Access Code to a strong combination of letters, special characters and numbers – via My Preferences / Change Access Code in Internet Banking. The Internet Banking Access Code can contain a minimum of six and a maximum of 20 characters, and it is required to utilise a minimum of one number.

From 16th September the Internet Banking login screen also changed and you are required to enter your date of birth in the format DD MM YYYY via a floating keypad along with your Access Code.

Introducing SMS Verification

To increase the security of your digital transactions we have introduced the SMS Verification Code to our Internet Banking.

An SMS Verification Code is a unique code sent to your nominated mobile phone number which will be required when performing the following actions in Internet Banking:

  • Adding a new payee
  • Paying a new payee
  • Modifying an existing payee or payment
  • Updating your contact details
  • Updating or resetting password details

The SMS Verification Code is now mandatory for all our Internet Banking users. If you have a mobile phone number listed on your account, you will automatically be registered for SMS Verification and you won't need to do anything. The SMS Verification Code creates a random temporary six digit code which will be sent to your registered mobile phone number. You will be required to enter this six digit code into your Internet Banking. The current requirement to enter your access code at every transaction will be removed once the SMS Verification is enabled.

It is important that your registered mobile number is correct and always up to date. To check that you have an up to date mobile number on file, please log into your Internet Banking and select ‘My Preferences’ from the menu, followed by ‘Contact Details’.

For more details please check SMS Verification Code Frequently Asked Questions

Account Numbers alongside Account Identifiers

Your Sydney Mutual Bank account identifier is your member number followed by a letter and number identifying the account type (e. g. 123456S1, 123456L1.1). From 16th September along with the account identifier on your Internet Banking you can also see your account number which is a 9-digit number. We have done this change in order to align to standards that are consistent across the banking industry and which are useful when transferring money to and from your accounts at Sydney Mutual Bank. 

If you are transacting using your account number after 16th September please log into Internet Banking and double check the account numbers in case they have changed. 

Transaction limit changes

Please note that the External and NPP transfer limits have increased to $3,000 per day. The BPay transfer limit have also increased to $20,000 per day.

If you have any question about these changes, please call 13 61 91, email us at info@sydneymutual.bank or drop in to your local branch and one of your friendly member service officers will help you.