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Phasing out the use of cheques

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Cheques are on the way out

As faster and more secure payment options have become available, more Australians are choosing alternative payment services to cheques.

With cheque use in rapid decline, the Australian Government has announced that the cheque system in Australia will wind down no later than 2030.

The Australian banking industry is now planning for this phase-out, with some banks and many merchants already no longer accepting cheques as a form of payment.

We understand that ongoing changes in the payments landscape can be challenging for some Members, and we want to ensure you are provided with sufficient notice and support to adjust to a world without cheques.

As a result of these changes to the Australian cheque system, The Mutual Bank will phase out cheques by 31 December 2025.

We will be in contact with impacted Members to explain the phasing-out timelines and provide support with switching to the many alternative payment services available.

We are here to help you navigate through this transition – please talk to our friendly Contact Centre Team on 1300 688 825 if we can assist you.

Other Services Available

Frequently Asked Questions

Over the last 10 years, there has been a 90 per cent decline in the use of cheques in Australia. Cheques now only comprise 0.2 per cent of all non-cash retail payments.

Because of the decline in cheque use, in June 2023 the Federal Treasurer announced the cheque system in Australia will be wound down by 2030. The Government will also phase out its use of cheques by the end of 2028.

Alternative options for payment include:

  • Direct Debit: Set up regular, automatic payments from your account.
  • BPAY®: Pay bills or invoices using a BPAY biller code.
  • PayID: Send or receive payments using your mobile number or email address.
  • Card Payments: Make payment in person, online, or over the phone using your debit or credit card.
  • Internet Banking.
  • Apple Pay or Google Pay™.
  • Bank@Post.

We are here to help you through this transition. Please visit us in branch or call our Contact Centre on 1300 688 825 during business hours.

Most of the alternative payment methods are free of charge. However, some fees may apply. See our Important Documents page for more information.

If you have previously used a cheque book facility on your account, but have since switched to other forms of payments, you need to take no action. Your account will operate as usual. Your account number will not change.

From 1 June 2024:

  • We will no longer offer cheque book facilities on existing accounts which do not already have the facility or offer a cheque book facility for a new account.
  • We will not automatically reissue you with a cheque book.
  • Cheque book facilities will no longer be available for inactive facilities.

 

From 1 June 2025:

  • The Mutual Bank will no longer issue Bank Cheques.

 

From 1 December 2025:

  • The Mutual Bank will no longer issue or accept for deposit personal, business or Bank Cheques.

Our Member Service Team in branch and our Hunter-based Contact Centre Team are here to help. We can personally assist you with alternative payment methods.

We appreciate some Members are used to paying for big ticket items, such as a car for example, by a cheque or a bank cheque. We can assist you with alternate ways to make these purchases.

Please destroy your cheque book securely or bring it into your local branch for us to securely destroy it for you.

For more information or assistance, please call into one of our branches or phone our Contact Centre on 1300 688 825.

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Bank@Post is an agency service provided by Australia Post on behalf of over 80 financial institutions. Bank@Post is available at participating Post Offices.

    

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