Cheque usage has significantly declined with an increasing number Australians moving towards other faster and more secure payment methods. Therefore, there are some changes to Bank of Sydney’s Cheque Services, which are in line with the national approach to phase out cheques in Australia.

If you would like to learn more about the Australian Government’s ‘Strategic Plan for Australia’s Payments System’, visit www.treasury.gov.au

 

Changes effective from 28 October 2023

The following changes to Cheque Services and facilities will be effective from 28 October 2023:

  • New Bank of Sydney accounts will not have access to Cheque Services or facilities.
  • Cheque books will no longer be issued for Bank of Sydney accounts*
  • Bank of Sydney will no longer issue Bank Cheques.

Changes effective from 16 February 2024

From 16 February 2024, Cheque Services will no longer be provided by Bank of Sydney. This means:

  • You will be unable to deposit cheques from Bank of Sydney or any other financial institution into a Bank of Sydney account.
  • Bank of Sydney cheques will no longer be accepted at other financial institutions.

Fast and secure ways to make payments

There are a number of payment methods available to make fast and secure payments, including:

___

 

 

 

Internet Banking

Enjoy safe and convenient access to your accounts with Internet Banking. Here’s some of the things you can do easily and securely:

  • Make domestic payments and transfers
  • Make international payments including foreign exchange
  • Make payments and pay bills with BPAY

To learn more about Internet Banking, click here

___

 

Visa Debit Card

Make purchases in store or online using your Bank of Sydney Visa Debit card.

To learn more about our Visa Debit Card, click here

___

Visit us in branch

Our friendly staff are available to assist with your banking needs.  

For details on our branch opening hours, services and locations, click here

___

 

24/7 Smart ATMs

Deposit, withdraw or transfer funds at any of our branches. To access a Bank of Sydney ATM outside of branch hours, simply insert and remove your bank card from the card reader on the door.

To find your nearest branch location, click here

 

FAQs

Cheque usage has significantly declined with an increasing number Australians moving towards other faster and more secure payment methods. Therefore, there are some changes to Bank of Sydney’s Cheque Services, which are in line with the national approach to phase out cheques in Australia.

If you would like to learn more about the Australian Government’s ‘Strategic Plan for Australia’s Payments System’, visit www.treasury.gov.au

If you currently hold a Bank of Sydney account offering Cheque Services, you will be able to order new cheque books for your account until 28 October 2023.

If you have a Bank of Sydney cheque book (issued prior to 28 October 2023), you may still issue cheques until the remaining cheques in your cheque book have been exhausted. However, please note that cheques that you issue will not be honoured by the Bank if presented after 16 February 2024 – we therefore recommend you cease issuing cheques well before this date.

You will be able to continue depositing cheques into your Bank of Sydney account via Australia Post’s Bank@Post service until 16 February 2024.

After 16 February 2024, you will no longer be able to deposit cheques from Bank of Sydney, or any other financial institution, into a Bank of Sydney account via Australia Post’s Bank@Post service. Additionally, Bank of Sydney cheques will no longer be accepted at other financial institutions.

You will be able to continue depositing cheques into your Bank of Sydney account via any Bank of Sydney Smart ATM machine until 16 February 2024.

After 16 February 2024, you will no longer be able to deposit cheques from Bank of Sydney or any other financial institutions into a Bank of Sydney account via a Bank of Sydney Smart ATM machine or any other means. Additionally, Bank of Sydney cheques will no longer be accepted at other financial institutions.

There will be no changes to the functionality of your Bank of Sydney Visa Debit Card.

These changes only relate to Cheque Services. Therefore, aside from Cheque Services, there will be no other impact to the way that you use your Bank of Sydney account.

If you have an existing Bank of Sydney cheque book containing unused cheques, we recommend that you destroy them for security reasons.

If you have issued a cheque and it is presented to any financial institution by the Payee after 16 February 2024, it will either be dishonoured or not accepted.

After 16 February 2024, you will no longer be able to deposit cheques drawn on Bank of Sydney or any other financial institutions into a Bank of Sydney account. Bank of Sydney cheques will no longer be accepted at other financial institutions.

If you receive a cheque drawn on Bank of Sydney, please contact the individual or organisation who provided the cheque and arrange for a different payment method to be used.

After 16 February 2024, you will no longer be able to deposit cheques from any financial institution into a Bank of Sydney account.

If you receive a cheque from another financial institution, you may be able to deposit the cheque through an account maintained elsewhere. Alternatively, you may wish to contact the individual or organisation who provided the cheque and arrange for a different payment method to be used.

Please note that a number of other financial institutions are also withdrawing their Cheque Services. We recommend you check with your alternative financial institution for more information.

Bank of Sydney will continue to honour Bank Cheques which have been issued by Bank of Sydney after 16 February 2024, when presented at any Bank of Sydney branch. Please note that funds may not be available immediately – further information will be available when the Bank Cheque is presented.

We're here to help

Visit our friendly staff at one of our branches

Contact us today with any questions or to submit a scenario with our online enquiry form.

Talk to one of our friendly staff Mon - Fri, 9am–5pm AEST (Excluding Public Holidays). Call 13 95 00

*This applies to the following Bank of Sydney account types: Everyday Saver, Easy Life Account, Everyday Main Account, Business Advance Account (known as the Business Advance Cheque Account prior to 28 October 2023), SmartNet Account, Trust Account, Home Equity Maximiser, Express Account, Cash Management Account, Business Account (known as the Business Cheque Account prior to 28 October 2023), Business Easy Account (known as the Business Easy Cheque Account prior to 28 October 2023) and Retirement Account.

Please take a moment to read through the below information:

General Banking Fees & Charges
Deposit, Saving & Transaction Accounts PDS
Terms & Conditions for VISA Debit Card

Target Market Determination (TMD) for these products is available here.

More information about our product and services is available here.