Existing cardholders: Find out what you need to know about the move to MyCard including important information about managing your account and helpful FAQs.
New applications: Applications for new MyCard credit cards are coming soon.
What is financial abuse?
Financial abuse is where an abuser uses money or finances to control the other person. The most common forms of financial abuse include:
- Someone being forced to take on debt they don’t want.
- Withholding or threatening to withhold a reasonable amount of money (for example, what’s needed to run the household).
- Stopping access to money so the other person can’t leave the relationship.
- Transferring a property or other assets out of the person’s name.
- Trying to ruin a person’s credit rating by not paying debts.
Financial abuse is a crime in most states of Australia. The Australian Government’s MoneySmart, website has a range of information about financial abuse and how to get support.
How to identify elder financial abuse
Elder financial abuse can happen to anyone (including you). Being prepared can help you detect potential abuse, scams and fraud before they happen. Look out for the following warning signs:
- You permit someone to access your account and unexplained transactions begin to occur
- You are missing bank statements or the information in your bank statements don’t make sense
- Someone who does not have the authority over your money accompanies you to the bank to make a withdrawal
- Someone completes financial documents on your behalf and without your knowledge
- Someone treats you in a way that is threatening or controlling
- You have unusual or unknown transactions appear on your account
How we can help
Speak to our dedicated Team
Many of us will experience financial or personal difficulties at some point in our lives and be in need of extra help and care. If you find yourself in a vulnerable position and want to understand the support options available, contact our dedicated Team on 1300 322 973 Monday to Friday, 8:00am to 7:00pm (AEST/AEDT).
Financial Hardship assistance
If you find yourself experiencing financial difficulties due to your circumstances, you may want to consider applying for financial hardship. For further information visit our financial assistance and support page
How the ‘Safe and Savvy Guide’ can help
Developed by the Australian Banking Association (ABA), the Safe and Savvy Guide has been created to help you detect potential elder financial abuse, scams and fraud for both you and your loved ones.
The guide will help you understand:
- What elder financial abuse is, and why you need to be aware of it.
- How to recognise the types and signs of elder financial abuse.
- How to protect you and your loved ones against potential abuse both now and in the future.
The ABA Safe and Savvy guide (PDF, 6MB), opens in new window
MyCard has zero tolerance of financial abuse
- We aim to protect you from financial abuse carried out on your personal accounts or through our electronic banking channels.
- If we identify (or are made aware of) unacceptable account conduct, we’ll investigate and act.
- We’ll reasonably exercise our rights under the account agreement if we believe we need to protect you or another person from financial abuse.
- We may suspend, cancel or deny an account holder access to a product or its features.
- If you’re concerned about your banking safety, call our dedicated team on 1300 322 973 Monday to Friday, 8:00am to 7:00pm (AEST/AEDT).
Online skills help older Australians stay safe
Online skills, knowledge and confidence are vital for older Australians to protect their privacy, avoid scams and reduce social isolation that can foster elder abuse. Be Connected is an award-winning Australian government initiative that provides all of this – free of charge.
The Be Connected website, opens in new window is a one-stop shop with more than 150 online learning modules and 350 learning activities. From setting strong passwords to communicating on social media and spotting scams – it is a powerful resource for older Australians to protect themselves.
Helpful third-party resources
Information, resources and tools
The Senior Rights Service, opens in new window is a community legal centre that provides advocacy, legal advice and education for older people.
The Aged Care Quality and Safety Commission, opens in new window provides a free service for anyone to raise their concerns about the quality of care or services to people receiving aged-care services subsidised by the government.
The Council on the Ageing (COTA), opens in new window is the peak non-government organisation for people over 50 in New South Wales, working with politicians, policy makers, service providers and the media to ensure the views of older people are heard and acted on.
Aged and Disability Advocacy Australia (ADA Australia), opens in new window provides advocacy services to older people and people with disability, giving vulnerable Australians a voice through information, education and support.
National Seniors Australia , opens in new windowis a not-for-profit membership organisation and advocacy group that connects older Australians to different support services.
Better Place, opens in new window supports older people in resolving conflict and preventing elder abuse. The organisation provides a range of mediation and counselling services for families, as well as financial counselling.
My Aged Care, opens in new window is the Australian Government’s online resource for government funded support services, tips on how to share documents with My Aged Care, and important things to keep in mind to help you protect your personal information.
IDCARE, opens in new window is Australia and New Zealand's not-for-profit counselling and support service set up to assist Australians impacted by identity theft and cyber-related crimes.
Other support services
Explore these other support services we offer that might apply to you.