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Exchange and Refund Member Share

If you became a member of Great Southern Bank before 7 November 2014, you will have paid an amount for your share known as 'consideration'.

This payment would have been an amount between $2 and $10.

The share you received gave you membership rights such as the ability to vote at our Annual General Meeting and have a say in our governance.

As new members don't have to pay for their share, we are giving you the ability to exchange your current share for a new one with 'nil consideration' (meaning you don’t have to pay for it).

Your new share gives you exactly the same rights and benefits as you enjoy today. You are also entitled to claim a refund on your old share.

Details of how to do this are below.

Request a refund

You can have your member share refunded by either:

  • Having the amount refunded to your Great Southern Bank transaction account; or
  • Receiving a cash refund in branch.

You can request a refund by doing one of the following:

  1. Send a secure message in Online Banking:
  2. Call us on 133 282 and we'll organise it for you.
  3. Pop into your local branch. and either:
    • Complete the application form and bring it with you; or
    • Ask for one in branch and complete it there.

Your request may take up to 21 working days to process. Please note, there will be no change to your existing customer number. You will receive confirmation when the new member share has been allotted to you.