It will come as no surprise that cheques, as a means of payment, is a rapidly declining payment method. Since the release of a Federal Government Consultation Paper in December 2023 on the winding down of Australia's cheques system by 2030, Australian banks have been withdrawing cheques as a payment option.
As a result of the rapid changes in the way our Members are choosing to bank, we have decided to remove cheques as a payment option in 2024.
From
28 June 2024, no new cheque books will be issued.
Members can continue to write cheques until
30 September 2024 however, after that date:
- No Bank First personal cheques will be honoured. If Members are providing a Bank First personal cheque for payment, the recipient will need to ensure it is deposited on or before 30 September 2024.
- No personal cheques, from any bank, will be accepted in our branches. This includes international cheques.
If you do receive cheques as payment we need your help to provide alternative options to people and businesses who you know make payments with cheques. This is going to be a change for a small number of our Members and we will work with those impacted to transition to alternative ways to pay.
Further information about this change is available on our website.
