Account Switching for Transaction Accounts
From 1 November 2008, a new package comes into effect to make it easier for you to switch your account to another financial institution. As part of this package, both your old financial institution and the new financial institution are ready to assist you in re-establishing your direct debit and credit arrangements from one account to the other. On the other hand, you may want to make the necessary arrangements.
Either way, we are available to guide you.
Account Switching for Scheme Cards
Regular Payment Arrangements with a scheme (Visa, MasterCard, American Express or Diners) card account
In December 2009, financial institutions and card schemes introduced a number of initiatives to bring consistency to scheme card account switching. These initiatives include general information material such as FAQs and template forms, to assist consumers that have regular payment arrangements on their scheme cards.
Log on to the Australian Payments Clearing Association for information and letter templates at www.apca.com.au