SWITCH WITHOUT A HITCH
Anyone can bank with us, so let one of our staff help you switch without a hitch. We can ensure all your regular payments and direct debits are set up for you, making switching easy!
Planning to switch your regular payments to your new account with us? Here's a step-by-step guide.
1. Open a new account
2. We can collate all your old payments and direct debits
We can contact your old financial institution on your behalf and request they send us a Regular Payment List. The Regular Payment List will show all the existing regular payments that have occurred on your old account in the last 13 months. This will include:
- Direct debit arrangements. Direct debits on your account could be phone bills and gym membership.
- Direct credit arrangements. This could include your salary and share dividends.
- Periodic payments. These are standing instructions given to your financial institution like “on a monthly basis, debit my account and pay my rent.”
The list will not provide information on recurring payments that are using your Visa Debit or Debit MasterCard number, internet banking ‘Pay Anyone’ payments or BPAY payments; however we will provide advice in how you can identify these type of payments.
*Account Switching applies to personal savings and cheque accounts only.
3. We’ll help you make the switch!
Now that we have your list of regular payments, with your consent, we will notify the direct debiting and crediting organisations of your new account details on your behalf so they can update their records.
If you have recurring payments, using your Debit Visa or MasterCard, you must advise your provider or merchant of your new debit card number yourself.
Of course if you would prefer to contact your regular payment organisations yourself, simply download the form ‘Change of financial institution and account details,’ complete your details and forward to your regular payment organisation.
Download the Change Financial Institutions and account details form
4. Close your old account
Once you’re sure all your regular direct debits and credits have been successfully re-established on your new account, you can close your old account.
