Effective from 1 July 2024 Regional Australia Bank will no longer be issuing new cheque book facilities to members.
As part of our commitment to provide modern, efficient and reliable banking Regional Australia Bank has made the decision to commence phasing out cheque usage aligning with Government decision to phase out cheques by no later than 2030.
This decision comes as more people move towards digital forms of payment resulting in a significant decline in the usage and acceptance of cheques across Australia over recent years.
These changes do not impact on your ability to deposit a cheque. All members can continue to deposit any cheques received into their account via any branch or through Bank@Post until further notice.
To assist with the transition away from cheques, Regional Australia Bank already offers many alternative digital payment alternatives which are faster, more secure and reliable and will be part of Australia’s payment landscape into the future.
To help you prepare for future changes to cheques as part of the winding down of the cheque system in Australia, please see alternative payment options below:
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Fast payments & PayID
Pay somebody instantly (in most cases), or transfer between your accounts using PayID. All you need is the registered mobile number, e-mail address or business identifier number (e.g. ABN) of your Payee (person or business you want to pay) to make an instant payment. It is fast, more secure and convenient.
You can also receive fast payments by providing your registered PayID to your Payer.
Click here for more information about PayID. -
Direct Credit/Electronic Funds Transfer (EFT)
If you have your Payee’s BSB, Account Number and Account Name you can transfer fund funds into their bank account. To receive payments, you can simply provide your Payer your BSB, Account Number and Account Name.
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Direct debit
Using your BSB, Account Number and Account Name, you can set up a direct debit that allows a merchant or service provider to withdraw an agreed amount of money from your account.
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BPAY
Use BPAY to pay bills for merchants with a BPAY Biller code directly from your accounts online.
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Credit and Debit cards
You can use your credit or debit card online, over the telephone and in-store to make payments. If you have a compatible smartphone or wearable device your card can be added to your device’s digital wallet for more convenience.
Examples of the types of payments you might be making with cheques, and the alternative payment methods that may be available!
| Activity | Payment methods that may be available |
| Paying a bill | BPAY, Direct Debit agreement, Debit Card or Credit Card (in-store or online), Direct Credit / Funds Transfer or Fast Payment using the New Payments Platform (NPP) |
| Transferring funds to another person | Fast Payment using PayID through the New Payments Platform (NPP), Direct Credit / Funds Transfer |
| Paying in instalments | Direct Debit agreement from your account or scheduled payments. |
| Pay Council Rates | BPAY, Direct Debit, Debit Card or Credit Card (in-store or online), Direct Credit / Funds Transfer |
