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: