Exciting News!
We’re thrilled to introduce a feature you’ve been asking for: the ability to adjust your daily transfer limits directly through Online Banking or the Horizon Bank App!
Now, you can set daily limits for each transaction type, including external transfers, international transfers, NPP (OSKO), and BPAY. Whether you need to increase your limit for a big purchase or lower it for added security, you’re in control!
Click here for more information
Voter warning: Scammers likely to target Australians this federal election
With the upcoming federal election, the Customer Owned Banking Association is urging Australians to be alert against scammers.
“Election periods are an opportunistic time for scammers due to heightened public interest and sense of urgency, and the only way to truly protect yourself is to be vigilant with any type of unsolicited contact – even if it looks legitimate,” COBA Head of Financial Crimes and Cyber Resilience Martin Latimer said.
“We anticipate a rise in scammers targeting voters, falsely requesting personal information for purported electoral roll updates. We also often see a rise in text messages or emails claiming to be from candidates, encouraging you to click on a link to learn more, which can download malicious software onto your device,” he added.
Phishing scams are designed to obtain your personal information or get you to click on malicious links. The scammer’s goal is to obtain personal information, such as usernames, passwords, and credit card details.
Scammers often impersonate trusted entities including official government agencies, targeting individuals through emails, phone calls, or text messages. The emails and websites they use are designed to look legitimate, often mirroring the branding and logos of the companies or institutions they're imitating.
They also often use urgent language including ‘Immediate action required’ or ‘Failure to Vote penalty warning’ to pressure targets into acting quickly without thinking.
“Never click on links in unsolicited text messages or emails, and don’t open attachments from unknown senders – they may contain malware,” Martin advised.
“Even when a message seems to originate from a reliable source, do not rely on the provided contact details. Instead, separately access the organisation’s official website and confirm the sender's information there,” he added.
If you have been scammed or encounter a scam, report it to ScamWatch.gov.au to help protect others. Always remember to ‘Stop. Check. Protect’.
Customer-owned banks are dedicated to safeguarding their customers from scams and fraud. Find out more about the banking industry’s Scam-Safe Accord here, an initiative that represents a united front against scammers and reinforces the banking sector's determination to strengthen consumer protection.
Why your money is secure with a customer-owned bank
With financial security a growing concern, over 5.4 million Australians trust customer-owned banks.
Credit unions, mutuals banks and building societies prioritise member security, going beyond standard protections to ensure your hard-earned money remains safe.
The following three mechanisms illustrate how customer-owned banks provide peace of mind banking.
Government guarantee
At the core of keeping your money safe is the Australian Government's Financial Claims Scheme (FCS), which provides protection to deposit-holders with all Australian incorporated banks, building societies and credit unions (known as authorised deposit-taking institutions or ADIs) in the unlikely event that one of these financial institutions fails.
The FCS is a government-backed safety net for deposits of up to $250,000 per account holder per ADI.
Strict regulatory oversight
Furthermore, customer-owned banks adhere to the same rigorous regulations as major banks. Government regulators, including APRA and ASIC, hold customer-owned banks to the same high standards as major banks.
The sector also adheres to the Customer-Owned Banking Association's Code of Practice, a commitment to principles designed to safeguard your financial well-being. The Code establishes higher standards than the law requires and reflects the customer-owned banking sector’s commitment to serving the interests of its customers.
Industry-wide anti-scam initiatives
Customer-owned banks are dedicated to protecting their customers from scams and fraud.
Demonstrating a proactive approach to combating scams, COBA and the Australian Banking Association (ABA) launched the Scam-Safe Accord in November 2023. This initiative outlined a comprehensive strategy to disrupt, detect, and respond to scams.
A recent report from the National Anti-Scam Centre (NASC) shows scam losses declined in Australia for a second consecutive year, with a 25.9% decrease from 2023. Australia is the only country in the world where scam losses are declining.
Congratulations to the following four members who have been notified that they are the winners of a cash prize of $250 for completing our Member Survey.
G Smith - Bega
J Scarlett - Wollongong
P Mckenzie - Pambula
J Coggan - Mount Pritchard
We appreciate you taking the time to provide us with the feedback and helping us make a better Horizon for you.
What a weekend it was!
The four major prize winners just enjoyed the ultimate Melbourne Race Weekend experience, thanks to Visa.
A big congratulations to the winners—a passionate author, who is writing a book about race cars and now has real-life inspiration; a dedicated police officer who shared the thrill with their partner; a 19-year old motorsport enthusiast who made unforgettable memories with his dad; and a hardworking plumbing business owner, who took a well-earned break at the track.
We also congratulate the secondary prize winners, who received exclusive Visa merchandise and racing-themed goodies.
Last Monday on the TODAY show, 9News Money Editor Effie Zahos reported on the current state of fixed and variable home loan rates. She declared that “Horizon is just doing wonders out there”.
She went on to say “It has some great deals across its fixed rates. It’s got the cheapest variable ... 5.64% is now the lowest. These are sharp rates because probably the average is still around 6 and half out there”.
The great news just kept coming with Canstar, an independent interest rate comparison site, awarding Horizon Bank 5 stars as a Fixed Home Lender and Fixed Investment Lender.
Finder.com.au, another independent interest rate comparison site, announced Horizon Bank as being short-listed for their 2025 awards for the 'Investor IO 1 Year Fixed Home Loan' category.
RBA 0.25% Interest Rate decrease
In response to the Reserve Bank of Australia decision on 19 February 2025 to reduce the cash rate by 0.25%, Horizon Bank will be passing on the full benefit of this interest rate cut to our variable rate residential mortgage borrowers. This 0.25% decrease will take effect on 1 March 2025.
We hope that this decision will help ease the cost-of-living pressures for our borrowers and provide some financial relief during these challenging times.If you have any questions or would like more information, please do not hesitate to contact your local branch.
Thank you for your continued support of Horizon Bank.
Scam alert: Investment bonds scam
Criminals are impersonating real businesses and offering fake investment bonds. They claim these bonds offer high returns and are protected by the government.
Scammers will encourage you to register your name, mobile number and email on a fake website. They steal money by getting people to buy fake investment bonds. They will also use your personal details to commit other scams.
How to spot the scam
This scam can be hard to spot because criminals set up fake emails where they pretend to be legitimate brokers. They also have a fake website which looks like the real business’s website. The fake website has the business’s branding and uses links that go to the real website.
The fake website comes up in internet searches for investment opportunities.
What you should know
There are steps you can take to help avoid investment scams:
Don’t trust surprise offers to invest.
Don’t take investment advice from people you have met on social media.
Check the Australian Securities and Investment Commission (ASIC) website to confirm if the person offering the investment is licenced.
Check the Moneysmart investor alert list for companies and websites you should not trust.
Check if the business details match the company’s real website.
Stay vigilant to scams. Remember to STOP. CHECK. PROTECT.
If you’ve been affected
If you’ve had money or personal information stolen contact us immediately.
If you’ve been scammed or have provided personal information call IDCARE on 1800 595 160.
Help others by reporting scams to Scamwatch.
Look at those smiling faces!
Pambula Public School P&C used their Horizon community grant funding to purchase new canteen equipment including a stick blender, sandwich press, pie warmer, multi-cooker and other kitchen items that will allow the canteen to continue to provide fresh and healthy food to students.
Pambula Public School P&C Canteen is a not-for-profit service and is staffed by two employees with the help of generous volunteers.
The school canteen prepares healthy, fresh and delicious food for students and staff and is part of a 'whole of school approach' to student health and wellbeing. Most of the food is prepared fresh on site, with many ingredients sourced from the school vegetable garden. The canteen is managed in a sustainable way, with materials composted and recycled where possible. The kitchen items purchased with the grant money will improve efficiency, reduce workloads, and allow the canteen to continue to provide fresh and healthy food to students.
Horizon’s Community Grants Program will open for applications in mid-2025.
Travel smart: Protect yourself from booking a scam holiday
Have you considered booking a holiday in 2025? While booking time off is exciting, it’s important to ensure your plans are legitimate so you don’t end up the victim of a travel scam.
To help ensure your holiday plans go ahead, COBA’s financial crimes team share tips on how to identify and avoid travel scams.
What is a travel scam?
A travel scam can be identified by cheap flights and accommodation offers, free vacations, or exclusive holiday rentals. Scammers create fake listings for popular travel destinations that mimic legitimate online travel agencies. They will then require payment upfront or request unusual and unsecured methods of payment that scam victims out of money.
Travel scams can take many forms, including:- Fake travel websites, booking platforms or rental listings advertised online.- Unsolicited calls or emails offering free or heavily discounted luxury vacations.- Fraudulent online marketplaces where scammers demand upfront payments for non-existent bookings.
Tips to protect yourself
Do your research: Verify that websites, agencies, or accommodation listings are legitimate. You can do this by reading reviews from other travellers or asking for proof of the agency’s accreditation or certification. Red flags include listings with limited photos, vague descriptions, or deals significantly cheaper than market rates.
Be sceptical of unsolicited travel offers: Avoid holiday deals that seem too good to be true, especially if they’re unexpected. You may receive emails notifying that you’ve won a free vacation and ask you to click a link to claim the prize – this is likely a scam, especially if you haven’t entered any competition.
Use secure payment methods: Avoid transferring money or paying through untraceable methods like gift cards or cryptocurrency.
What to do if you suspect a scam
If you encounter a potential scam, report it to ScamWatch.gov.au to help protect others from falling victim. If you’ve been scammed, let us know by contacting us.
