Hiver Is Closing and All Existing Accounts Will Be Migrated to UniBank

Ave Maria on 28/02/2025 - 23:35
Last edited 01/03/2025 - 07:27 by 1 other user

Today I noticed a new tab in the Hiver online page under the label "Hiver is Closing"

The key date is 04 April 2025. No email communication has been received yet. The provided info indicates that account numbers will remain the same/usable but advise to use the UniBank BSB for future payment instructions. That makes sense as TMU/UniBank offers the exact same products with a different BSB.

List of UniBank products
UniBank Term and Conditions
Fees & Charges & Transfer Limits

What would be nice to confirm 100% (I have sent an email asking [email protected]) is whether:

• Hiver PayID will remain active/ported to the UniBank account
• Interest rates will remain the same (until notified as changed - period of notice is same day) - that looks to be a "yes" but not explictly stated
• Transfer limits will remain the same for each existing account - also a possible yes as daily limits can be increased to $50k ($5k OSKO) per account
• Payee address book will be copied over & already used payee account whitelisting will remain in effect (i.e. not treated as first time payments & blocked)

My first impression is that migration will be transparent and Hiver users would not be impacted much, other than logging in as UniBank customers.

Anyone that may have any additional useful info, please use this forum topic to post updates.

Update on 1st March 2025

The Investment Products Leaflet has been updated as of 1st March 2025. The new Target Saver rate is 5.00% (dropped like everything else)

Products & Investments

Related Stores

Hiver Bank

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  CyberMurning on 01/03/2025 - 00:19

  We have mebank ubank and unibank.
  Not so creative

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    Ave Maria on 01/03/2025 - 00:37

    MyBank would be a good one to have but it has been taken by loan sharks

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  Wiadro on 01/03/2025 - 00:28

  Never heard of it

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    Baysew on 01/03/2025 - 08:47

    For more than 50 years, Teachers Mutual Bank (formerly Teachers Credit Union) has provided key financial services for those in the education sector. In 2015-2016, Teachers Mutual Bank merged with University Credit Society Limited and Fire Brigades Employees Credit Union Limited. In 2019, we launched Health Professionals Bank, and in 2021 we launched Hiver.

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  Stingo on 01/03/2025 - 14:22

  Excellent as now telephone support will be officially and fully supported rather than depending on the rep you speak with at one of the other brands. It would be somewhat helpful if they explicitly stated how long they will support the existing BSB for. Is there much of a cost in maintaining a duplicate BSB? I wonder what it means in terms of UI. From what little I can tell the other brands have different UIs so I wonder if they will be getting a update or we will get a downgrade. It's slightly interesting that every Hiver member will be going to Unibank as some don't meet the membership requirements of Unibank but do for other brands but the TM constitution give them the flexibility to do so and obviously it is simplest just to transfer all Hiver members to the one brand which is presumably the one the majority of members meet the qualifications for.

  Thanks for heads up.