With the ongoing decline in cheque usage, our transaction service provider, Bendigo Bank, is working towards phasing out cheques.
Australia’s payment landscape is changing. More Australians are leaving behind their chequebooks and choosing simpler, more reliable and immediate electronic payments. This decline has led to Bendigo Bank introducing some changes to the way cheque payments are supported.
The following changes will apply:
For new accounts
- From 1 August 2023, cheque books will not be available on new accounts opened by new or existing customers.
For existing accounts- cheque book replacement
- From 1 September 2023, we will no longer automatically issue you a replacement cheque book once you exhaust your existing cheque book. If you would like a replacement cheque book you will need to contact us or visit a branch of Bendigo Bank and request a replacement cheque book.
- From 1 November 2023, replacement cheque books will no longer be available to order on existing accounts. Customers with existing cheque books will be able to retain these and continue to use as normal until otherwise advised.
- From 29 September 2023, cheques will no longer be accepted for additional investments into the Adelaide Cash Management Trust (ACMT).
- From 28 October 2023, cheques will no longer be accepted for additional investments into the Cash Common Fund (CCF).
Alternatively, additional investments can be made by BPAY or direct debit.
- From 28 October 2023, we will no longer be posting cheques for payment of withdrawal requests from the Cash Common Fund (CCF).
Withdrawals can be paid by direct credit to your nominated account. Additionally, you can use online and phone banking, debit cards (for ACMT only) and third party direct debit services of Bendigo Bank. Please refer to the most up to date Product Disclosure Statement (PDS) at the time you are making a withdrawal for more information.
As we move towards the overall removal of cheques as a payment and deposit service, we will keep you updated on the timing of any additional changes.