On the 1st March 2022, we were informed of the termination of our cheque issuer arrangement with our 3rd party, and given that the use of cheques is in such rapid decline, we were not in a position to recreate a chequing product arrangement. As a result from the 1st March 2023 all cheque facilities came to a close.
What does that mean for our members who currently use these facilities?
All affected members have been notified directly. This is just a reminder that from 1st March 2023 all members will no longer be able to:
- Issue cheques with a Member Cheque Book
- Make Deposits with a Member Cheque Deposit Book or NAB Deposit Book
- Continue to use Cheque Link Numbers to have debits or credits processed directly to an account
In order to avoid any cheques from being dishonoured*, we ask that members please stop using their member cheque facilities. Also please dispose of all left over member cheques or deposit books securely by cutting them up and placing them in a secure bin or shredder. Alternatively, you can return them to us.
Here at Australian Mutual Bank we have a number of alternate payment and deposit methods that are available, including:
- the ability to set up one-off or regular periodic payments out of your account,
- direct debit facilities to ensure your regular bills are paid automatically each month,
- internet banking transfers that allow you to quickly transfer money to any Australian bank,
- access to the mobile app which allows you to set up one-off or periodic payments,
- assisted transactions via our contact centre or branch,
- access to fee free cash withdrawals via Australia Post (Bank@Post**), EFTPOS (e.g. taking ‘cash out’ at the supermarket), and via a non-direct charge ATM, and
- access to fee free deposits can be made via Australia Post (Bank@Post**)
If any member would like more information on how they can utilise any of the alternative payment services, please contact us on 13 61 91.
Correct as at 1st March 2023 and information subject to change without notice.
* All cheque dishonours will incur a $12.00 fee.
** First four Bank@Post transactions (deposits and/or withdrawals) per month will be free. Any additional Bank@Post transactions will incur a $3.00 fee per transaction. Subject to service availability.
