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Why are Cheque Services being phased out?
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