FAQs - Home Loans
Q. What is the Reward Me Home Loan BSB?
A. The Reward Me Home Loan BSB is 122-771. This BSB can also be used for your Companion Account. Important to note, this BSB will show as a Bank of Queensland BSB.
Q. How do I switch to eStatements rather than receiving paper statements?
A. You will automatically have access to eStatements through the Hub and we will send the primary account holder an email whenever a new statement is available. To turn the paper statements off, please log into the Hub click on the eStatement promotion and follow the prompts to manage paper statements. If you have a joint account, each account holder will need to do this before the paper statement is stopped.
Q. What's a comparison rate?
A. The interest you pay on the home loan is just part of the cost. A comparison rate gives you the true picture once all the known ongoing, up-front and other fees are factored in (including those honeymoon rates and hidden costs some lenders sneak in). The intention is to provide you with a fair figure so you can compare apples with apples between home loans.
Q. What's the difference between a principal & interest home loan and an interest-only home loan?
A. Principal & interest means you're repaying both the original amount borrowed (principal) and the interest charged. Interest-only means that you're only repaying the interest but not repaying any of the principal. You usually agree interest-only with your lender for a period of time before you then switch to 'principal & interest' repayments for the remainder of the loan term.
Q. What is an LVR?
A. The LVR is the loan to valuation ratio of your loan. So if you borrow $500,000 and your property value is $700,000, the LVR is 71.4%. It’s important to know that we will calculate your LVR based on our valuation of the property/s to be used as security for your loan, so the LVR may change based on what you paid for the property or your estimate of the property value.
Q. Can I pay monthly or fortnightly (even weekly)?
A. Yes you can, if you're making principal and interest repayments you can choose the frequency, interest only repayments can only be monthly.
Fortnightly repayments work out to be 50% (weekly 25%) of your monthly contractual repayment. By making fortnightly repayments, you can save a lot in interest charges and really cut the term of your loan down to size.
The way it works is that over the course of one year, you’re in effect making an extra monthly repayment, which brings down your balance and reduces the interest payable. Use our online calculators to see what you could save.
- Q. How do I make repayments?
Q. I have a fixed rate loan can I make extra repayments?
A. Yes,you can pay an additional $10,000 per year. Make sure you don’t go over that amount, as you may incur break costs.
Q. How do I put extra money into a fixed rate loan?
A. You can pay extra into your fixed loan by electronically transferring funds into your account using your BSB and account number or increase your regular repayments. You can pay an additional $10,000 per year. If you go over this amount, you may incur break costs.
Q. What if I want to pay a lump sum off my home loan?
A. If you come into some extra money you can pay a lump sum into your Virgin Money Home Loan. You can pay any amount off a variable rate home loan, and a maximum of $10,000 each year for a fixed rate home loan. This lets you reduce the original amount borrowed (principal) so you pay less interest over the long haul.
Use our online calculators to see what you could save.
Q. What happens if I miss a home loan repayment?
A. Let us know straight away by calling 1800 312 115 between 8.30am – 5pm AEST Monday to Friday. And if you're worried you might have trouble making ongoing payments, it's important that we work together to help you meet the obligations under your home loan contract as you may also incur penalty fees (so please don't be a stranger).
Q. What's an offset facility and how does it work?
A. It's a transaction account connected to your home loan. How it works is that every cent you have in an offset facility reduces the daily balance upon which interest is calculated on the relevant loan. Some people put their whole salary in the offset facility, and withdraw it when needed.
For example: Say you have a $300,000 variable rate home loan linked to an offset facility, which has a balance on payday of $10,000. For that day, you'll only get charged interest on $290,000.
So you could use an offset to save money and shave years off your home loan.
Q. Does the companion account work like a normal transaction account?
A. Yes and No. You can put money in via electronic transfers and get money out with our pay anyone function and pay bills with BPAY. There is no card access to the account so no ATM’s or EFTPOS. The bonus is simply that it can be linked to your home loan (variable and 1 year fixed rate loans) and acts as your offset facility so it helps you drive down interest payable (i.e. saves you money!).
Q. What is the Companion Account BSB?
A. The Reward Me Home Loan BSB is 122-771. This BSB can also be used for your home loan account. Important to note, this BSB will show as a Bank of Queensland BSB.
Q. What is redraw?
A. This is when you withdraw extra money that you've paid into your home loan above and beyond your minimum repayment. If you need extra funds to deal with additional expenses, you can transfer money out of your home loan account via the Hub, this is called a redraw.
It makes your home loan flexible enough to deal with the unexpected things life throws at you. It’s important to know that you cannot access redraw from a fixed rate loan.
Q. How often can I redraw?
A. You can redraw as often as you like, as long as you have a redraw balance in your home loan. It’s important to remember when making a redraw that you either leave sufficient funds to cover your next monthly repayment or that you make up the difference by the next due date. The minimum redraw amount is $100 and you can arrange a redraw by logging into the Hub.
Q. I want to fix my loan. What do I do?
A. Give us a call on 13 81 51 and our Customer Care Team will help you out.
Q. What's a fixed rate?
A. That's where the interest rate on your loan is locked in for a period of one to five years. This means that for that period you're applicable interest rate will not change (up or down) and allows you can sleep at night because you know exactly what your repayments are. Fixed rates could be higher (at least initially) than the variable rates on offer.
If you are thinking about fixed rates, remember that if you fix the entire loan you may have to sacrifice flexible features like your offset facility and redraw.
Q. What is rate lock?
A. Fixed rates can change at any time before you settle your loan (or before your new fixed rate period starts to apply). We offer the ability to 'rate lock' your fixed rate to manage this risk.
Rate lock protects you against any rise in the fixed rate for up to 100 days from the date of your request. A rate lock fee of 0.15% of the loan value) applies. If you are fixing more than one loan, and you request rate lock, a rate lock fee will be charged for each loan.
Q. What's better, a fixed or variable interest rate?
A. It really depends on what suits you best. Fixed rates give you certainty so you know exactly what your repayments are going to be during the fixed period, the rate may be a little higher than the variable rate.
With a variable rate you are affected by the Reserve Bank and market changes, so your rate could go up...and it could also come down.
With a variable rate you get to use more home loan features like the offset facility, unlimited extra repayments and redraw if you need.
Q. What's the point of multiple or split home loan accounts?
A. Multiple (or split) home loan accounts help you structure your home loan in the way that suits you best.
So for example you fix a portion of your home loan so that you've got some certainty about your repayments, and have another portion in a variable home loan account with an offset facility that your salary gets paid into (which would let you drive down a portion of your interest by putting your salary to use before you spend it).
Plus you can choose between principal & interest and interest-only repayment options (conditions apply). Important to know that if you split your home loan into two or more separate accounts, each will be charged the monthly account fee.
Q. How are my Velocity Points earned and transferred in to my Velocity Frequent Flyer Account?
A. The Points earned on your Reward Me Home Loan will be automatically transferred into your Velocity Frequent Flyer Account at the following intervals Settlement points will be transferred 14 days after your loan has settled.
Monthly points are paid in arrears and are transferred within the first 7 days of each calendar month, so you should see them in your Velocity account by day 8. Anniversary points are transferred within the first 7 days of the calendar month after your anniversary, so if your loan anniversary is the 7th June, you should see them in your Velocity account by the 8th July.
You can read the full terms and conditions here.
Q. Do my Velocity Points expire?
A. Your Velocity Points will be transferred to your Velocity Frequent Flyer Account. Once your Points are in your Velocity Frequent Flyer Account they will not expire as long as you’re an active Velocity Member, that is, a Member who earns or redeems Velocity Points within a three-year period. For full details, see the Velocity Frequent Flyer terms and conditions at velocityfrequentflyer.com.
Q. Is Velocity Frequent Flyer membership required?
A. Yes. In order for Virgin Money to transfer Velocity Points to your Velocity Frequent Flyer Account, you must provide us with your Velocity membership number either when applying for your Reward Me Home Loan or by calling us on 13 81 51. If you're not currently a Velocity Member head to velocityfrequentflyer.com where you can join for free online. If you choose not to join Velocity Frequent Flyer, you will be ineligible for any benefits relating to the Velocity Frequent Flyer Program.
- Q. How do I redeem with my Velocity Points?
Q. How do I access my account online?
A. You can access your account online via the Hub at hub.virginmoney.com.au or if you are on a mobile device use m.hub.virginmoney.com.au You can register for the Hub by giving our Customer Care Team a call on 13 81 51. For more information on how to register, please refer to the Registration for the Hub section of our terms & conditions.
- Q. Is the construction loan available on renovations or just new builds?
Q. Are Velocity Points available on construction loans?
A. Yes you will earn 10,000 Velocity Points for every $100,000 borrowed and the Points will be allocated after your first drawing (paid in $10,000 increments). You will also get 1,000 Points per month throughout your loan and 30,000 points every 3 years.
Q. Who can register for the Hub?
A. Virgin Money's Hub gives you access to all your personal accounts, including transaction and, loan accounts, as well as a range of other services. All we ask is that you're a signatory to each Account for the Hub and that you have authority to operate on those Accounts. If there are multiple signatories to the Account each User will need to complete the registration process. For more information on how to register, please refer to the Registration for the Hub section of our terms & conditions.
Q. How do I register for Hub access?
A. You can register for the Hub by giving our Customer Care Team a call on 13 81 51. If you are applying for Hub access and the method of operation is one to sign you can apply over the phone. For more information on how to register, please refer to the Registration for the Hub section of our terms & conditions.
Q. Which accounts can be accessed through the Hub?
A. The following accounts can be nominated for access through the Hub:
- Home Loan
- Investment Loan
- Home Loan Companion Account
Q. How much does it cost?
A. Please refer to our Lending and Deposits Guide to Fees and Charges to see any costs associated with the Hub
Q. What is an Electronic Access Password?
A. When applying for the Hub service you will be asked to nominate an Electronic Access Password. This Electronic Password will be used as a means of identifying you if you need to contact the Customer Care Team in relation to your Hub account. This password is not used to log on to the Hub.
Q. Can a customer with no email address register for the Hub?
A. No. An email address is required. If customers do not have one, then they cannot be set up for access to the Hub. The email address is used for the following features:
- an email is sent for security purposes such as when a limit increase is requested
- an email is required should the customer wish to receive alerts
- BPAY View details are emailed
Q. What do I do if I can't remember my Customer Access Number (CAN) or UserID?
A. Call our Customer Care Team on 13 81 51 and they will help you. Note: a User ID is not required by all customers accessing the Hub. You will use a User ID if you are an Authoriser on one or more accounts.
Q. What do I do if I can't remember my Personal Access Code (PAC) or my PAC is suspended?
A. If you forget your PAC or your PAC is suspended you can call our Customer Care Team on 13 81 51 and request a new Personal Access Code. A new temporary PAC will be issued to you immediately.
Q. How do I protect my Personal Access Code (PAC)?
A. Here’s a few easy things you can do to protect your PAC:
- Your PAC is like a PIN. It should always remain confidential – never reveal it to anyone, even an employee of Virgin Money. Also, you should never write the PAC down anywhere.
- Choose a PAC that you can easily remember, but make sure another person can’t easily guess it. This means that you shouldn’t use your name, birthday, pet’s name, or any other word that could be related to you.
- Avoid choosing a PAC that contains words that can be found in a dictionary of any kind – this will make it harder for anyone to guess your PAC.
- Do not choose a PAC which is based on your date of birth or an alphabetical code that is a recognisable part of your name.
- Change your PAC regularly – once a month is ideal. After you’ve changed your PAC, use it again within a day or less, to help you remember the new Code.
- When you select a new PAC, don’t choose one that is similar to your old PAC. For example, if you chose “tbm1976$” for your first PAC, it would not be a good idea to simply add ‘one’ to the number – e.g. “tbm1977$”. It is best to start over and choose new letters, numbers and special characters.
Q. How do I choose a secure Personal Access Code (PAC)?
A. This task can be more difficult than it sounds, so here’s a method you may like to use in order to make this easier.
- Pick a short phrase or line from a song you can remember easily (i.e. three blind mice).
- Take the first letter of each word – 'three blind mice' or 'tbm'
- Now choose a number you can easily remember. Make sure it isn’t your age, birthday, street or telephone number or any other number that could easily be guessed by someone else. For example, the date your first car was manufactured, let’s say 1976.
- Combine the letters and numbers – 'tbm1976'.
- Now add a special character that you can remember, say for example, a ‘$’ sign.
Now the Personal Access Code you have created is 'tbm1976$', which is unlikely to ever be guessed by anyone.
Q. What restrictions are there when I choose my Personal Access Code (PAC)?
A. When you are selecting a PAC, you need to adhere to the following restrictions:
- A minimum of 8 and maximum of 20 characters long
- Contain at least three numbers
- Contain at least one upper case or one lower case alphabetic character (ie A-Z, a-z)
- Special characters may be used if they are one of the following: @#$%&+=?
- Not be a regular word contained in a dictionary (eg password, bank, etc)
- Not be based on any number that could be linked to you by other persons such as your date of birth or any alphabetical code that is a recognisable part of your name
- New PAC cannot be the same as any PAC previously used
Q. Is the Personal Access Code (PAC) case sensitive?
A. Yes, the PAC can include both uppercase and lowercase letters. The PAC must be typed in exactly the same case as it was when it was set, otherwise the system will respond with an error message indicating that details entered are not valid. Check the status of the CAPS LOCK key if the PAC is not accepted.
Q. Why do I see a Security Alert when trying to log in to the Hub?
A. It is important that you read all security alerts. The alert could indicate that your PC does not have the latest security patches applied to it or is attempting to access a site that is not Virgin Money.
Regularly visit the operating systems’ and browsers' vendors websites (refer links below) to ensure your computer's operating system and Internet browser are up to date. The majority of software vendors such as Microsoft, post updates to their products to correct minor defects or security flaws that could potentially affect you.
Please note: Virgin Money does not receive commission from the sale of any of these products, nor do we make any recommendations, representations, guarantees or warranties about these products.
- Internet Explorer™
- Google Chrome™
To be certain you are dealing with Virgin Money, double-click on the padlock displayed at the bottom of your browser window and a certificate (refer to the example below) will be displayed. When viewing our certificate always ensure that:
- it has been ‘Issued to’ www.virginmoney.com.au
- the 'Issued by' section refers to www.verisign.com
- the date specified is within a valid date range
This shows that you are dealing with Virgin Money and that your Customer Access Number (CAN) and Personal Access Code (PAC) will be secure as they cross the Internet. If the certificate details differ from this, do not login as you may not be connecting directly to the Virgin Money website. If you encounter this problem, please contact us immediately.
Q. Why do I get error message "The details entered are invalid..." when I try to Log In to the Hub?
A. This is due to one of the following scenarios:
- an incorrect Customer Access Number (CAN) and Personal Access Code (PAC) combination have been entered. Please check you are using the correct CAN and PAC and that CAPS LOCK is not on.
- you attempt to log in BEFORE you receive your new PAC. When a new PAC is requested you must wait until you are given a new PAC. Note: when a new PAC is requested, the previous PAC is stopped and can no longer be used.
Q. Why can't I access the Hub?
A. If you can't access the Hub log in page after clicking on the Hub link from the Virgin Money website, the problem may be one of the following:
- please compare your browser and browser version with those listed on the Technical Requirements page. Please ensure you are using one of the listed browsers and browser versions and it is up to date.
- if you are using a recommended browser and browser version, the problem may be related to the browser settings being changed from the default. This can happen without your knowledge, for example you may have installed some new software such as anti-virus or firewall software. Please reset your browser settings back to the default in order for the Hub to work correctly.
For more information on technical requirements and browser settings, the Technical Requirements page contains copies of these defaults for all supported browser and browser version.
Q. How much transaction history can I view online?
A. The Search Transaction History function in the Hub enables you to search any of your registered accounts by one or more criteria.
The Hub maintains history of your transactions for up to 12 months after they were carried out.
Note: the transaction history is not an official statement and is subject to change. For loan accounts, the entry described as FEE CAPITALISATION affects the balance of the loan account. The entry/entries that appear immediately before this transaction describe the fees capitalised and do not affect the balance of the loan account.
Q. Why does my regular statement include the same transactions as the statement I previously requested via the Hub?
A. The statement requested via the Hub is a 'snapshot statement'. It includes all transactions carried out since the previous regular statement was issued up to the date of the Hub request.
The 'snapshot statement' will not have any effect on the transactions that appear on the regular statement. The regular statement will include all transactions carried out since the previous regular statement was issued.
Q. Can I export my balance and transaction history into other applications?
A. Yes. After you complete a Transaction History search in the Hub you will be presented with the option to Export All or Viewed Transaction History. This function allows transaction information to be exported in external file formats for import into all major personal financial management applications.
Q. Why do I need to click 'open' twice when I am exporting my transaction history?
A. This is controlled by the browser and not the Hub. The settings required vary based on individual customer circumstances - such as your browser settings, security settings or the version and patch level of your browser and operating system.
Q. Why do I not see my selected date range of transactions when I export the transactions?
A. Irrespective of the date range you select, you must first view all of the specified transaction history on the screen before the transactions will be included in your export. To view all your selected transactions continue to click on the 'Next Page' button until the button is disabled (greyed out) or change the list size using the options to the top-right of the search results.
Q. Can I view the running balance on my credit card transaction history?
A. No, Virgin Money credit cards are not available in the Hub. Please log into your Virgin Money Online account at my.virginmoney.com.au for all credit card related information.
Q. Why is the running balance incorrect on my transaction history?
A. There is a known issue where if you specify a custom date range the running balance is calculated from zero when it should be calculated from the opening balance for the (from) day. The actual transactions are correct, if you select one of the standard options such as last week, last fortnight etc. the balance will be correct. A fix for this issue will be in place very soon. We apologise for any inconvenience.
- Q. Why do I need cookies enabled to use the Hub?
Q. Why does Virgin Money have a Token?
A. Protecting the integrity of our customers’ financial information is our top priority. As such we have a superior level of online security by way of the Virgin Money Token.
The Virgin Money Token provides what is known as two-factor authentication. Either a physical token or a soft token on your smartphone and a remembered identifier (e.g. a PAC) will be needed to authenticate some online transactions. This means, even if another person obtains your Customer Access Number, UserID (if applicable) and PAC, they will need the Virgin Money Token to be able to make a payment.
Q. If I have a Virgin Money Token, do I need to use it to log in?
A. The Virgin Money Token will not be required to log in to the Hub, but will be used to authenticate some transactions where funds are transferred to other financial institutions. This will allow you to check account balances and move funds between your own accounts as easily as possible.
Q. Does everyone need to use the Virgin Money Token?
A. No. The Virgin Money Token will be required as an additional means of authentication if you have selected a Daily limits package with a Pay Anyone of $10,000 or greater. The limits packages and required authentication method are outlined in the table below:
Pay anyone daily limit Authentication method BPAY daily limit $0 - $0 $2,500 - $10,000 $5,000 - $20,000 $10,500 Token - Application #1 $50,000 $15,000 Token - Application #1 $100,000 $25,000 Token - Application #1 $200,000 $10,000,000 Token - Application #2 $10,000,000
Note: Where you decrease your daily limit to a limit which does not require the use of a token it will be necessary to authenticate the request by entering a One Time Password generated by 'Application #1' from your token.
Q. How do I get a Virgin Money Token?
A. A soft token can be downloaded as an app on your smartphone. If you don't have a smartphone and require a physical token, you can obtain a Virgin Money Token by calling us on 13 81 51.
Q. Is there a cost for a new Virgin Money Token?
A. There is no cost for the issue or use of a soft token on your smartphone. If you don’t have a smartphone and require a phsical token, the first Virgin Money Token will be issued free of charge for customers where there is only one user of the account. Where additional physical tokens are required for signatories to an account, a second Virgin Money token will be issued free of charge.
A fee of $50 per token will be charged for:
- additional physical tokens (if your account has more than two users)
- replacement tokens where the originally issued token is lost or damaged
Any defective Virgin Money Tokens will be replaced free of charge. The replacement fee will also be waived if you report your Virgin Money Token is stolen and you lodge a police report.
Q. How do I use the Virgin Money Token?
A. When completing transactions using the Hub, instructions on the screen may prompt you to initiate one of two types of token applications using the Virgin Money Token:
- Token Application #1 (One Time Password) – this issues a unique 8 digit authentication code which you will enter into the Hub when prompted.
- Token Application #2 (Transaction Signing) – you will be required to enter information about your transaction into the token. This will be used by the token to generate an authentication code uniquely tied to that transaction, which you will then enter into the Hub when prompted.
Q. How does the Virgin Money Token work?
A. The Virgin Money Token works by generating a password that continually changes. Based on information registered with our central Token Management System when your Virgin Money Token is assigned, it is possible to match these passwords with your Hub profile when you transact online.
Q. Do I need to install anything on my computer to use the Virgin Money Token?
A. No. The Virgin Money Token can be used with any computer and no special software is required.
Q. If I forget my PIN for my Virgin Money Token, how do I reset it?
A. Please call our Customer Care Team on 13 81 51 and they will assist you.
Q. If I have a Virgin Money Token and I increase my Pay Anyone Limit, do I need to be assigned with a new Virgin Money Token?
A. No. Once a Virgin Money Token has been issued you may change your Daily Limit package at any time. As long as your requested limit is above $10,000 then the Virgin Money Token will be required.
Q. If I close my account or decrease my Pay Anyone limit to a level that doesn't require a token, must I return the Token?
A. If you have a soft token and no longer require it, please delete the app from your smartphone. It would be appreciated if you have a physical token to return it to us. Please call us on 13 81 51 and we will advise you how to return it.
Q. Why is the word 'disabled' displayed on the token?
A. A physical token will display the word "disabled" when the battery is low. Please call us on 13 81 51 to obtain a replacement token.
Q. What is a variable Customer Reference Number (CRN)?
A. A variable CRN is a CRN that changes each time you receive a new bill, unlike a fixed CRN which remains the same for each bill. Prior to the variable CRN changes all billers were being treated as though they were fixed CRN billers.
Q. Why is my CRN not saved when I add a frequently used biller in the Hub?
A. When you add a frequently used biller using the add biller link on the BPAY Billers page you will receive a message stating that the CRN will not be saved if the biller you are adding uses a variable CRN. When you view this biller in the Billers tab you will see ‘Variable CRN Biller in the customer reference column.
Q. Why is my Customer Reference Number (CRN) not saved when I add a biller via the Enter BPAY Details screen in the Hub or Mobile Hub?
A. When you add a biller that uses a variable CRN you will receive a message stating that the CRN will not be saved as that particular biller uses a variable CRN. When you view this biller in the Billers tab you will see 'Variable CRN Biller' in the customer reference column.
Q. Why can’t I set up a recurring BPAY payment via the Hub or Mobile Hub?
A. Due to the current BPAY rules, you are no longer permitted to create a recurring BPAY payment to a biller which uses a variable CRN. If you are setting up a recurring BPAY payment please ensure that the biller you are using is not a variable CRN biller. If you are using a variable CRN biller this will be noted in the drop down box when you select the biller, provided that the biller has not been registered for BPAY View. For BPAY View registered billers the BPAY View registration number will be shown, and for fixed CRN billers, the saved CRN will be noted next to the biller name.
Q. Will my existing recurring BPAY payments be changed as part of the variable CRN changes?
A. As part of the changes relating to variable CRNs, any recurring payment which is being paid to a biller that is noted as using a variable CRN will fail to be processed and will also be deleted on the next payment date. All future instances of the recurring payment will also be deleted. You will be notified of this via email and secure mail at the time of the failed payment. If you need the deleted payment to be processed you will need to set up the payment as a once only payment as the current BPAY rules no longer allow you to create recurring payments to variable CRN billers.
- Q. What will happen to my recurring payment if it was created before the variable CRN changes but authorised after the changes?
Q. What will happen to my current frequently used billers as part of the variable CRN changes?
A. There are a number of possible scenarios relating to your current frequently used billers:
- Billers that are registered for BPAY View will be retained in the Frequently Used Billers list. This will be the case for both fixed and variable CRN billers.
- There will be no change to any frequently used billers that are classed as a fixed CRN biller.
- If you have multiple saved billers that use the same biller code and these billers are now classed as variable CRN billers, the duplicate records will be deleted and you will see only one frequently used biller listed for each biller code. All CRN data and personalised biller name data will also be removed for each variable CRN biller. The billers name will appear in place of the previously saved personalised biller name. This will not apply for billers that are registered for BPAY View.
- If you have single instances of billers which use a variable CRN, the existing CRN will be removed and you will see “Variable CRN Biller” in the Customer Reference Number column.
Q. Can I make BPAY payments to a Virgin Money credit card?
A. Yes. Virgin Money credit cards is a BPAY Biller. The Biller Code is 49551 and customers should use their credit card number as the Customer Reference Number when making payments to their Virgin Money credit card.
Q. Is there a daily limit for BPAY transactions?
A. Yes. When you register for the Hub you will be offered a number of daily limits packages to choose from. These will define the daily transaction amount limit for Pay Anyone and BPAY transactions via the Hub.
The limit package can be set as part of the initial registration, and be effective immediately. You can also choose or change your limits package online via the Hub - any increases will automatically be applied after 2 calendar days, decreases take effect immediately.
The table below shows the various limit packages available:
Pay anyone daily limit BPAY daily limit $0 $0 $2,500 $10,000 $5,000 $20,000 $10,500 $50,000 $15,000 $100,000 $25,000 $200,000 $10,000,000 $10,000,000
These Pay Anyone and BPAY limits packages are pre-set pairs as outlined above. Different Pay Anyone and BPAY limits cannot be selected separately. For example, $2,500 Pay Anyone and $50,000 BPAY limit is not a valid limit combination.
Q. Do I need to enter the Biller Code every time I make a payment?
A. No. The "Frequent Biller" option enables you to update your own personalised biller list. Once you have created the Frequent Biller, every time you want to pay your bill, you only have to select the biller from the list and input the payment amount. Note: Some Billers operate with a variable Customer Reference Number (CRN), it is good practice to confirm the CRN on your bill for each payment.
Q. What is the cut-off time for BPAY payments?
A. For a BPAY payment request the cut off time is 5:00 pm (AEST) on a business day. The following table will assist you to understand when your BPAY payment will be processed:
From Account When was BPAY payment requested Same day Next business day Account# Before 5.00 pm (AEST) on a business day* Yes - Account# On a non-business day* or after 5.00 pm (AEST) on a business day - Yes
# Account means a Transaction Account or, Loan Account.
* A business day is defined as any day on which the lender is open for business that is also a day on which banks in Melbourne or Sydney are able to effect settlement through Reserve Bank of Australia.
Q. How long does it take for a payment to reach the recipient?
A. If a bill payment is made before the cut off time (ie. 5 pm) on a business day, the Biller will usually receive the payment on the next business day. If a bill payment is made after this time or on a weekend, the Biller will usually receive the payment on the second business day after the payment was requested.
Q. Can a payment be cancelled?
A. If you have scheduled your payment to occur on a date in the future it can be modified or cancelled anytime before the date scheduled. It cannot be modified or cancelled if the payment is scheduled to occur on the current date.
If a Biller is paid in error you can request an error correction by calling our Customer Care Team on 13 81 51. Note: a fee applies for the funds recall. Recalls are typically completed within 5 business days.
Q. When I logout of the Hub, why does the session summary say I have deleted a payment when all I did was modify it?
A. When you modify a future dated Pay Anyone or BPAY, the Hub internally deletes the payment and creates a new payment with the same details including the modification. This is the reason why your change is displayed as a deletion and creation.
Q. Can I make a payment on a weekend?
A. Yes, please refer to the above FAQ "What is the cut-off time for BPAY payments?".
Q. Can I schedule a BPAY payment for the future?
A. Yes. The Hub enables you to perform a range of future dated and recurring payments and transfers, including BPAY payments.
Recurring payments can be scheduled weekly, fortnightly, monthly, quarterly, half yearly, annually, four weekly and two monthly.
When a scheduled payment is processed, you will be notified of the success or failure of the payment via secure mail as well as via the email address you have provided. You can also subscribe to receive SMS alerts on your scheduled payments.
Q. When does the money for a payment come out of my account?
A. We will withdraw funds from your account on the date the payment is requested. If the payment is scheduled for the current date this will occur immediately. If you have scheduled the payment to occur on a date in the future, funds will not be withdrawn until that date.
Q. What is BPAY View?
A. BPAY View allows you to view bills from participating billers. These bills can be paid the same as the paper based version or directly from your account using BPAY.
You can register to see bills from participating billers via the Hub We will then advise you when you have received new bills which you can view and pay without the need to ever receive the paper bill.
Q. What is a Pay Anyone payment?
A. Pay Anyone payments is a facility within the Hub which allows payments to be made to accounts at Virgin Money or to accounts at most other financial institutions, such as Banks, Building Societies or Credit Unions throughout Australia.
Q. I entered the wrong account number in a Pay Anyone Payment - can I cancel it?
A. There is no facility to reverse an immediate Pay Anyone payment after a receipt has been issued to the customer making the request.
For future-dated Pay Anyones, and periodic Pay Anyones, you can amend the details of the payment on any date before the day the payment is due to be processed.
The following scenarios explain the process should you nominate an invalid account number or unintended account:
Invalid Account Number
If you nominated an account number which does not identify a valid account at the destination Financial Institution, the destination Financial Institution will return the funds to the originating Virgin Money account (because the account number nominated will not match any account number at that Financial Institution). The funds will be returned to your account within the same timeframe as for a valid transaction (i.e. Transaction +1 day, subject to the business day cut off times).
For example, if you requested a transaction on Tuesday after 5pm, the return would be credited to your account by Thursday or Friday (this is because the transaction was carried out after the 5pm cut off). If the request is made before 5pm the return would be credited to your account by Wednesday or Thursday.
Valid Account Number but not the Intended Account
If you nominated an account number that is valid but the payment is not intended for that account (or you have changed your mind for some reason), you will need to contact our Customer Care Team on 13 81 51 to request the recovery of these funds. There is no guarantee that the funds will be able to be recovered from the recipient. For this reason, you must ensure that the payment details that you enter are correct.
You will need to provide us with the details of the original Pay Anyone payment (i.e. BSB, Account Number, Account Name, and Description) as well as the date and time of the request. There is a fee associated with this request. The timeframe for recovery of these funds depends on the destination Financial Institution.
Q. When I log out of the Hub, why does the session summary say I have deleted a payment when all I did was modify it?
A. When you modify a future dated Pay Anyone, or BPAY®, the Hub internally deletes the payment and creates a new payment with the same details including the modification. Hence the reason why your change is displayed as a deletion and creation.
Q. Is there a Pay Anyone Payment limit?
A. Yes. When you register for the Hub you will be offered a number of Daily Limits Packages to choose from. These will define the daily transaction amount limit for Pay Anyone and BPAY transactions via the Hub.
The Daily Limits Package can be set as part of the initial registration, and be effective immediately. You can also choose or change your limits package online. Any increase that is requested online will automatically be applied after 2 calendar days, limit reductions take effect immediately.
The table below shows the limit packages available:
Pay anyone daily limit BPAY daily limit $0 $0 $2,500 $10,000 $5,000 $20,000 $10,000 $50,000 $15,000 $100,000 $10,000,000 $10,000,000
These Pay Anyone and BPAY daily limits are pre-set pairs as outlined above. Pay Anyone and BPAY limits can not be selected separately. For example, $2,500 Pay Anyone and $50,000 BPAY limit is not a valid limit combination.
Q. How can I change my limit?
A. The Daily Limits Package can be set as part of your initial registration, and be effective immediately. You can also choose your limits package online using the Hub.
A decrease to your limits package requested online will be effective immediately. An increase requested online will be applied automatically after 2 calendar days. This two day delay is for security reasons. In this two day period we will contact you via the registered email account for your profile to advise that a limit change has been requested.
Users should note that increases to their daily limits package may result in the need for additional authentication using the Virgin Money Token.
If your new Daily Limits Package requires additional authentication, you must call us to have a Virgin Money Token assigned to you if you do not already have one.
Q. When does my limit reset?
A. The daily limits are reset at midnight AEST each day.
Q. Can Pay Anyone payments be made to a Virgin Money credit card?
A. No. Accounts into which funds are to be paid must be identified by a BSB and Account Number. Instead, you may make payments to your Virgin Money credit card via BPAY, using Biller Code 49551 and your credit card number as the Customer Reference Number.
Q. Can Pay Anyone payments be used to pay other Virgin Money accounts?
A. Yes. You need to know the BSB and account number of the Virgin Money account.
Q. When does the money for a payment come out of my account?
A. We will withdraw funds from your account on the date the payment is requested. If the payment is scheduled for immediate payment, funds will be withdrawn immediately. If you have scheduled the payment to occur on a date in the future, funds will not be withdrawn until that date. If there are available funds in your account on the date specified for the payment, the payment will be processed between 6:00am and 5:00pm Brisbane time. If you have a recurring payment the processing time may vary and you should not expect your payment to be processed at the same time for each recurrence. Whilst every attempt is made to process the payments as soon as possible the deadline is 5:00pm (Brisbane time) and it is purely coincidence if the payment has been processed by a particular time on previous occasions.
Please note: If you schedule a payment for a future date and there are insufficient funds in your account on the date the payment is being processed we will retry the processing of your transaction periodically throughout the day until 4:30pm Brisbane time. If there are still insufficient funds in your account at 4:30pm (Brisbane time) you will be notified via Secure Mail that your scheduled payment has failed due to insufficient funds. This allows you 30 minutes to process an immediate payment in place of the failed scheduled payment. If your payment is a recurring scheduled payment the failure due to insufficient funds will not affect your next scheduled payment.
Q. What are the cut off times for Pay Anyone payments?
A. For a Pay Anyone payment request the cut off time is 5.00 p.m. (AEST) on a business day.
"To" Account Type When was the request made When will payment be credited to nominated "To" accounts Virgin Money account Any time on a business day* or non-business day Immediately Account held at another Australian financial institution Before 5.00 p.m. (AEST) on a business* day By next business day Account held at another Australian financial institution On a non-business* day or after 5.00 p.m. (AEST) on a business* day By 2nd business day after transaction
* A business day is defined as any day on which the lender is open for business that is also a day on which banks in Melbourne or Sydney are able to effect settlement through the Reserve Bank of Australia.
Q. When are monthly scheduled payments processed if they are due to be processed on the 29th, 30th or 31st of a month and that date does not exist in the current month?
A. Any payment which is scheduled to be processed monthly on the 29th, 30th or 31st will be processed on the last day of the month if the scheduled date does not exist for the current month. For example if a monthly payment is set up to be processed on the 29th of every month, it will be paid on the 28th of February (except in a leap year) as this is the last day of the month. If a payment is scheduled to be paid on the 31st of the month it will be processed on the 30th day of all months which do not have 31 days. This will only occur for monthly scheduled payments.
Q. Can I use the POLi Payment online payment option when purchasing goods or services online?
A. We take Hub security very seriously and, for this reason, we do not support the use of 3rd party applications such as POLi. While it may seem that you are in complete control of the Hub session whilst using POLi, we cannot guarantee the security of your login credentials unless you access the Hub via the Virgin Money website.
Q. How do I register for SMS Services?
A. Before you can begin using any of the SMS alert or enquiry services in the Hub you will need to:
- Have a mobile phone number registered
SMS services can only be requested and received by this mobile number. This will be done when you register for the Hub. You can check your registered number at any time via the Personal Details option on the Other Services menu within the Hub.
- Have the SMS services option activated
To turn-on the SMS services, select SMS settings on the SMS menu within Hub.
The activation process varies depending on the type of service you require. For more detail, you can refer to the Help pages available via the Hub.
- Have a mobile phone number registered
Q. What types of SMS alerts can I receive?
A. Once you are registered for SMS services you can choose any or all of the following alerts:
- payments greater than a selected amount
- new online bills have been received
- new secure mail has been received
- customer block alert
- error messages for SMS related errors
- notification of limit increase requests
Q. Can I receive alerts from more than one mobile phone?
A. No. SMS services must be requested and received by the mobile phone that is registered for your Hub account profile.
Q. Does Virgin Money charge for the use of SMS services?
A. We do not charge for the use of SMS services.
- Q. What is multi user authorisation?
- Q. What happens if the required number of Authorisers do not approve a transaction?
- Q. If I am an Authoriser, how will I know when a transaction is pending authorisation?
- Q. Can there be more than one Authoriser on an account?
Q. How should I request all other types of variations (i.e. product switches, limit reductions, partial discharges & security swaps)?
A. You can request these types of variations to your home loan via our Customer Care Team on 13 81 51.
Where a customer retains their current account number, trail will continue to be paid to the originating broker on the ongoing loan amount.
Q. What types of account users can be created in the Hub?
A. Because a Hub profile can have one or more people associated with it, different types of account users will exist. There are three types of people who can access Accounts via the Hub:
- a Customer with authority to operate on the account individually; or
- a Related Account User, who is a signatory on the Account, has authority to operate on the Account individually or has authority to operate on the Account as one of a two or more persons to sign method of operation and has been granted Hub access to the Account by both the Customer and Virgin Money ; or
- an Authoriser, who is a signatory on an Account that requires more than one person to operate on the Account, and where Hub access has been established for each signatory to the Account;
Q. Which Hub requests can be carried out by product?
Product Name Account Summary Txn History Transfer between registered accounts Pay Anyone BPAY® and BPAY View® Order Stmt Home Loans (credits only) Y Y Y
N Y Home Loans (redraw permitted) Y Y Y Y N Y Home Loan Companion Account Y Y Y Y Y Y
Y = Request is permitted
N = Request is not permitted
If your question hasn’t been answered by these FAQs or you have other questions regarding the Hub, please call our Customer Care Team on 13 81 51.
Q. What is Mobile Hub?
A. Mobile Hub is a wireless Internet-based service that allows you to look at your accounts and transact safely and conveniently with your smartphone. Via your smartphone, you can view your account balances, look up transactions, pay your bills and transfer funds.
Q. How do I register for Mobile Hub?
A. Before you can access Mobile Hub you are required to register for the Hub (desktop access). If you’re not registered yet for the hub, just give our Customer Care Team a call on 13 81 51. Once you’re registered for the Hub simply go to m.hub.virginmoney.com.au on your phone's web browser and you can get started with Mobile Hub using your existing login details.
Q. How do I access my account online?
A. You can access your account online via the Hub at hub.virginmoney.com.au or if you are on a mobile device use m.hub.virginmoney.com.au You can register for the Hub by giving our Customer Care Team a call on 13 18 75. For more information on how to register, please refer to the Registration for the Hub section of our terms & conditions.
Q. Is there a Virgin Money App I can use on my phone?
A. No. Mobile Hub is not an app that you can download from the App Store or from Google Play, Simply go to m.hub.virginmoney.com.au from your browser and you can then add an icon to your phone for easy use next time.
Q. What operating systems are supported?
A. The following operating systems are supported:
- Android: v4.1.x and above
- iOS: v6.1.1 and above
Please note: As Virgin Money Mobile Hub is an Internet-based service, it will work on most operating systems that allow the user to connect to the Internet via a Mobile Web Browser.
Q. What is the URL (address) for Mobile Hub?
A. Please use m.hub.virginmoney.com.au to access the Virgin Money Mobile Hub.
Q. How much does Mobile Hub cost?
A. There are no additional charges for using the Mobile Hub service. Please note: It is suggested that you familiarise yourself with your current data plan from your mobile service provider.
Q. Is it safe to use my mobile for conducting transactions via the Hub?
A. All Internet capable mobile phones that have 128 bit security enabled in their browser will be able to access Mobile Hub utilising the same level of security as the Hub on a PC or Mac. Our application firewalls, intrusion prevention systems and other infrastructure are among the best in their class, equally applying security controls across both phone or computer-based Hub sessions.
Additionally for customers who have opted for daily Pay Anyone limit of $10,000 and above are required to use the Virgin Money Token. This counters fraud by requiring an additional, independent authentication factor during funds transfers, without relying on SMS messages delivered via the mobile phone itself.
Q. Is the Hub on my phone going to be slow?
A. No. To counter the problem of having to download a large amount of content as seen on our Hub site, Mobile Hub will operate by sending very small packets of data at a time to ensure the quickest possible mobile experience.
Q. Why do I keep getting taken back to the sign in screen when I enter my sign in details?
A. If you are entering your sign in details and are being returned straight back to the sign in screen, please check that you have enabled cookies on your mobile device. If you are unsure how to enable cookies, please consult the manual for your device.
- Q. What happens if I have Cookies enabled?
Q. Will I need to download any additional software?
A. No. If you can access and browse the Internet through your phone then you can access our Mobile Hub.
Q. Can I be logged into the Hub via a desktop PC/tablet and Mobile Hub at the same time?
A. You cannot perform any transactions or enquiries while logged into both the Hub and Mobile Hub.
Q. What happens if I get locked out of Mobile Hub?
A. As with the desktop version of the Hub you can request a PAC reset by contacting our Customer Care Team on 13 81 51. Note: you will need to use the Hub on a desktop PC or tablet to login with the temporary PAC and create your new permanent PAC before you can sign into Mobile Hub.
Q. Do I need a Virgin Money account to use Mobile Hub?
A. All Internet-capable mobile phones can access Virgin Money's mobile site m.hub.virginmoney.com.au, however to use Mobile Hub you must have a Virgin Money account with Hub account access on your profile.
Q. I keep getting locked out of my account when I try and sign in on my mobile phone
A. As with the Hub your PAC is case sensitive; make sure you are entering your PAC with the correct case. If your password begins with a lower-case letter, you may need to use your phone’s ‘shift’ key to change the default from upper case. In addition, some phones require extra shift key presses to enter numbers instead of letters.
Q. What happens to my session if my phone locks from inactivity?
A. For security reasons, the Mobile Hub session will become inactive after 10 minutes of inactivity. Simply login again.
- Q. I get the error message “Please navigate via the links on the webpage”. What does this mean?
These FAQs relate only to the Virgin Money Home Loan managed by Macquarie Bank. It is no longer for sale to new customers. If you're an existing customer and require assistance please call the Customer Care Team on 1300 948 000.
- Q. How do I use my online account, is there a user guide?
Q. I want to fix my loan. What do I do?
A. You'll need to complete a fixed rate request form, so give us a call on 1300 948 000 between 8.30am – 6pm ESDT Monday to Friday and we’ll send or fax you one. Then just fax the completed request form back to Customer Care on 1800 707 321 (or if you are outside Australia +61 2 9395 5564). Please call the team on 1300 948 000 to make sure your request has been received (as we’d like to ensure your loan is updated ASAP).
Q. I have a fixed rate loan and want to know more about extra repayments.
A. You can pay an additional 5% per year on the balance initially fixed. The year is measured from the date your loan settles. Make sure you don't go over that 5%, as you may incur break costs.
Q. How do I put extra money into a fixed rate loan?
A. You can pay extra into your fixed loan by tacking on the extra $$ to your current direct debit repayment, call us on 1300 948 000 between 8.30am-6pm ESDT Mon-Fri and we can arrange it for you.
You can pay an additional 5% per year on the balance initially fixed. If you go over this amount, note that you may incur break costs.
Q. What if I want to pay a lump sum off my home loan?
A. If you come into some extra cash you can pay a lump sum off the variable rate portion of your Virgin Money Home Loan. This lets you reduce the original amount borrowed (principle) so you pay less interest over the long haul.
You can pay any amount off a variable rate home loan, and a maximum of 5% of the original fixed amount each year for a fixed rate home loan.
Q. What happens if I miss a home loan repayment?
A. Let us know straight away by calling 1300 948 000 between 8.30am – 6pm ESDT Monday to Friday. And if you're worried you might have trouble making ongoing payments, it's important that we work together to help you meet the obligations under your home loan contract as you may also incur penalty fees (so please don't be a stranger).
What steps are required to manage a deceased's account?
Step 1 – Notify us at Virgin Money
Contact us on 13 81 51
We will require a certified copy of the following:
- Death Certificate and Will; or
- Grant of Probate; or
- Letters of Administration.
We will advise you if any additional documentation is required.
Step 2 – Virgin Money will review the Estate
Virgin Money will conduct a review of accounts and facilities held by the deceased. Depending on the amount of funds in the deceased person's account, and the State or Territory in which the account is held, you may need to provide additional information.
Step 3 – Virgin Money will write to you
Virgin Money will write to you detailing the accounts and facilities solely and jointly owned by the deceased and also what requirements need to be fulfilled prior to us releasing those assets. We will also advise of you of any outstanding loans or liabilities that must be attended to as part of finalising the Estate.
Step 4 – Complete requirements
You will need to complete and return all documents and requirements requested by Virgin Money including the Deceased Customer Notification Form.
Step 5 – Virgin Money will release Estate funds
Once all requirements have been met, Virgin Money will release funds held by the Estate.
Who can notify Virgin Money and be provided with information about a deceased's account?
Information regarding deceased customer's accounts can only be provided to:
- The Executors of the Estate named in the last Will
- The persons to whom a Grant of Probate or Letters of Administration are granted
- In an Intestacy where no grant has been applied for, to the person who is first entitled to apply for Letters of Administration
- If there is no Will and if there is no intention to apply for Letters of Administration, then confirmation is to be obtained from the person seeking the information stating their relationship to the deceased. You will need to confirm this relationship by providing either a birth or death certificate, or marriage certificate
If you are not one of the people listed above, you can notify us of the passing of the deceased, but we may be limited in the information we can provide to you.
In all instances, you will need to be identified, our team will advise you of the process to have this completed.
- What if I share a joint account with the deceased?
Where can I obtain the documents required?
You should contact the Registry of Births, Deaths and Marriages in the State or Territory where the person’s death was registered. Usually, only a person named as the spouse, partner, parent or child of the deceased person can apply for a death certificate.
If you have not been told where the latest Will is located and you cannot find it at the deceased's home, ask their solicitor, accountant, financial advisor, other family members or close friends if they know of its whereabouts.
If the deceased has not left a Will, the deceased is considered to have died intestate. The Public Trustee in your State or Territory can advise the process for dealing with the Estate and who will be appointed Administrator of the Estate. Letters of Administration will be provided in this case.
Probate or Grant of Probate
An Executor/Executrix, Administrator, Legal Representative or Next of Kin can apply for Probate by contacting the Supreme Court in the State or Territory in which the deceased’s assets are held. You can seek advice on this matter from Centrelink, the Public Trustee in your State or Territory, or your solicitor.
Probate expenses are usually incurred by the Executor and reimbursed from funds held in the deceased’s Estate.
Documents not accepted
A Power of Attorney ceases to be valid upon the death of the principal (the person making the Power of Attorney). This means that persons appointed as attorneys under a Power of Attorney will no longer be able to access bank accounts or conduct other transactions on behalf of the deceased.
We cannot accept a medical certificate in place of the Death Certificate or Probate.
What happens to accounts and facilities until the estate is finalised?
What happens to accounts only in the name of the deceased?
Virgin Money will revoke access to these accounts by account signatories, and will cancel all Direct Debits and Transfer Orders.
Upon instructions from the Executor, Virgin Money will close sole accounts and issue a bank cheque for the closing balance payable to the ‘Estate of the Late …’, which can then be deposited into the Estate Account ready to be distributed in accordance with the terms of the Will.
Requests to pay bills
If requested by the Executor/s, Virgin Money may agree to arrange payment of bills associated with the Estate directly from the deceased person’s account, provided there are sufficient funds in that account. Such bills may include funeral costs, government payments and costs to protect the Estate (e.g. insurance).
In order for Virgin Money to consider the payment, you will need to provide the original invoice and/or receipt (where payment was made independently and reimbursement is requested). Where the bill is approved and the deceased person’s account has insufficient funds for the full payment amount, the deceased’s account/s may be closed and the total balance sent as part payment of the bill.
Overpayment/s to an account held by the deceased
Occasionally, payments from a government department (e.g. Centrelink, the Department of Veteran’s Affairs) are credited to a deceased person’s account after the date of death. Virgin Money is required by law to refund such overpayments to the specific department if requested by that department.
What happens to loans held by the deceased?
Unfortunately, loans held by the deceased (whether by themselves or jointly with other borrowers) become immediately repayable upon their death. Generally, the Executor must ensure that all of the deceased’s debts are repaid before distributing the remaining assets to the beneficiaries.
Where the deceased person held a home loan jointly with another person, Virgin Money will contact the surviving joint borrower/s to discuss options for repaying the loan.
What are the duties of the Executor of an Estate?
The Executor, in effect, steps into the shoes of the deceased person and winds up their personal affairs. Examples of tasks usually performed by an Executor include:
- applying for probate
- informing relevant entities of the death e.g. investment bodies, Centrelink
- locating assets and having their value assessed
- paying debts, income tax and funeral expenses
- transferring assets and paying stamp duty
- distributing the surplus to beneficiaries
For comprehensive information regarding the duties and actions of an Executor, please contact The Office of the Public Trustee in your State or Territory or a solicitor.
What are the common terms I may need to know?
Administrator: The Court may appoint an administrator under Letters of Administration to manage an Estate, for example, when there is no Will, no Executors are appointed under the Will, or the Executors are unwilling or unable to act.
Beneficiaries: People who are entitled to a portion of the assets of the Estate. They are usually named in the Will. If no Will exists, they are usually the deceased person's next of kin but this is determined by the law so you should seek legal advice.
Estate: When a person dies, their property and assets are called their “Estate”. The deceased’s Estate is held by the Executor or Administrator of a Will on trust until the assets can be distributed in accordance with the terms of the Will.
Estate Account: An account established by the Executor/s or Administrators of an Estate to receive funds identified as part of the Estate, prior to distributing funds according to the terms of the Will.
Executor: The individual/s (or office of The Public Trustee) nominated in the Will to control the assets of the Estate and carry out the terms of the Will.
Executrix: A female Executor.
Grant of Probate: An official grant by the Courts to the Executor named in the Will, enabling the Executor to effect the terms of the Will. Until Probate is granted by the Courts, an Executor does not have legal authority to collect monies, pay debts or distribute assets of the Estate.
Intestate: When a person dies without leaving a Will.
Probate: see ‘Grant of Probate’
Will: A legal document that sets out a person’s directions for the administration and disposal of their Estate after their death.