What’s happening to cheques?

As our banking habits evolve, so too must the services offered by banks, including the introduction of new services and the removal of services in decline. 

There has been an almost 90 per cent decline in the use of cheques in the last 10 years, with cheques now comprising only 0.2 per cent of non-cash retail payments as Australians embrace the convenience and security of online banking. In fact, the Australian Government plans to phase out cheques no later than 2030.

Our chequing services will cease on May 8, 2024 and this means we will commence phasing out these services. We will be in contact with all impacted members early in 2024, to explain the many other payment options available and with a more detailed of timelines.