Following the RBA’s decision to increase the cash rate, we will be increasing home and business loan variable interest rates as well as savings interest rates for existing Customers. Read more.
Your internet banking password is one of the first lines of defence between your money and a scammer. If you have received an email from The Mutual Bank asking you to update your internet banking password, please take a few minutes to do this safely through our official website or the Mutual App.
We are contacting some Customers because their internet banking password may not meet our current security standards. There is no evidence that these passwords have been compromised or that accounts have been accessed without authorisation. This is a proactive step to help reduce the risk of unauthorised access and support Customers to strengthen their online banking security.
If you are unsure whether a message is genuine, do not click on any links. Go directly to The Mutual Bank’s official website or open the Mutual App to update your password securely.
How to update your password safely
To update your internet banking password, log in through The Mutual Bank’s official website or the Mutual App. Do not reply to an email or text message with your password, and never share your password, security code or one-time passcode with anyone, even The Mutual Bank staff.
Learn more about how to strengthen your internet banking password
Our records indicate that your current internet banking password may not meet our latest security standards. We are asking you to update it as a proactive step to help protect your account from scams and unauthorised access.
No. There is no evidence that your password has been compromised or that your account has been accessed without authorisation. We are encouraging a password update because stronger passwords are an important safeguard, particularly as scammers become more persistent and convincing.
A strong password should be unique to your internet banking, different from passwords used for other accounts, difficult for someone else to guess and not based on personal details such as your name, birthday, address, pet’s name or family member’s name. A longer password or passphrase can often be easier for you to remember and harder for others to guess.
No. Your internet banking password should be unique. If a password you use elsewhere is ever exposed, scammers may try the same password on other accounts. Using a different password for internet banking helps reduce this risk.
The Mutual Bank will never ask you to reply with your internet banking password, security code or one-time passcode. If you are unsure about an email or text message, do not click any links. Instead, type our website address directly into your browser, open the Mutual App or contact us using the contact details listed on our official website.
If you do not update your password, we may apply a mandatory password reset to help protect your account. This means you may be prompted to create a new password before you can continue using internet banking.
Our aim is to give Customers time to update their password before any mandatory reset is applied. If a reset is required, you may need to create a new password before you can continue using internet banking.
Please contact The Mutual Bank as soon as possible. If you notice unusual account activity or believe your login details may have been shared with a scammer, we can help you take steps to secure your account.
