Beyond cheques
Updates relating to Suncorp Bank Cheque Services
From 1 March 2024, there are changes coming to Suncorp Bank Accounts.
- Cheque withdrawal services, including Bank Cheques will no longer be available
- Cheques written prior to 1 March 2024 will be accepted in accordance with legal obligations we owe you and other banks
- Cheques written from 1 March 2024 will not be accepted and payment will not be made
- Accounts that can be converted to a cheque issuing account, will no longer be able to be converted to a cheque issuing account from 1 March 2024
- Cheques written from Suncorp Bank accounts prior to 1 March 2024, or written from other banks will still be accepted and processed, and can be deposited into Suncorp Bank accounts until further notice
Effective 1 March 2024, changes will be applied to the following documents: Terms and Conditions for Suncorp Bank Accounts and Continuing Credit Accounts; Personal Deposit Accounts Product Information Document; Business Accounts Product Information Document; Lending Fees and Charges for Home Lending; Business Lending Fees and Charges; Schedule of Fees and Charges for Other Suncorp Bank Personal Accounts; Schedule of Fees and Charges for Other Suncorp Bank Business Accounts; Lending Fees and Charges for other Suncorp Bank Personal Loans; Home Loans and Packages and Wealth Cash Management Account Product Information Document.
A summary of these changes are available here: Summary of Changes
With most Australians finding other forms of payment faster and more convenient, cheque usage continues to decline across Australia.*
Businesses and consumers are adapting by seeking safe and alternate ways to make payments, so it’s a good time now to realise the benefits of alternate payment methods.
We’re here to help.
Frequently asked questions.
What does this change mean?
- As a Suncorp Bank customer, you will no longer be able to use a cheque drawn from your Suncorp Bank account to make a payment from 1 March 2024.
- Any cheques that you have written before 1 March 2024 will be able to be deposited by the recipient. Cheques written after this date not be paid.
Why is Suncorp Bank ceasing cheque services?
The decision to no longer offer cheques wasn’t made lightly, however it is now an opportunity to review your payment methods and take advantage of some other, more efficient ways to make payments.
Is this related to the proposed sale of Suncorp Bank?
No. We regularly review our products and services. With the decline in cheques as a form of payment, the decision has been made to cease cheques as a service. The decision has been made independent of the proposed sale of Suncorp Bank.
When will I no longer be able to write a cheque?
From 1 March 2024 you will no longer be able to issue cheques which are drawn from your personal or business Suncorp Bank account. Cheques issued after this date will not be honoured.
Will my cheques still work at other banks?
Up to 1 March 2024, cheques you have written can be deposited at other banks. After this date, any cheque written will not be honoured or paid if presented at another bank. Cheques drawn from your Suncorp Bank account will no longer be a valid payment option after this date.
Can I still order a cheque book?
If you need a replacement cheque book to issue cheques from an eligible Suncorp Bank account, you can still order a new cheque book until 1 March 2024.
What should I do with any cheques remaining in my cheque book?
You can dispose of any unused cheque books safely by cutting them up, or you can return them to us.
I have a ‘cheque’ option on my account/card, what do I do?
These changes only impact the use of cheque books and cheques. The way you use your Visa Debit Card will not be impacted or change in any way.
I have a large amount of money to send, can I do this electronically?
There are multiple ways you can send money electronically, you can find more information on types of payments solutions here.
I have written a cheque prior to 1 March 2024 – will it still be presented on my account?
Suncorp Bank will continue to process cheques drawn from your account that were issued prior to 1 March 2024. Any cheques written after 1 March 2024 will be dishonoured. To ensure your cheques are processed, please contact the recipient to ensure they are deposited promptly.
I have written a cheque after 1 March 2024 – what will happen?
Suncorp Bank will dishonour any cheques issued after 1 March 2024. You will need to contact the cheque recipient to organise an alternate method of payment.
How do I make payments?
Instead of paying by cheque, you can use Internet Banking, Telephone Banking and the Suncorp Bank App to:
- Pay your bills,
- Donate money to a charity,
- Make a Tax Payment,
- Move money between your own accounts,
- Send funds to another person (Real Time Payments via Suncorp Bank App only),
- Set up automatic payments (periodical payments – you chose the frequency, date , organisation, amount and we will send the funds automatically Ways to Bank - Online (Internet Banking and Suncorp Bank App only), and
- BPay to Direct Debits – to set up or cancel, you need contact the organisation. You can commonly find these details on how to set up on the last payment notice l eg Rates Notice / Utilities Bill (Internet Banking and Suncorp Bank App only).
Use your debit card, credit card to:
- Pay your bills,
- Purchase online,
- Purchase in store, and
- Withdrawal for cash payments.
I have never done banking online before, where do I go?
Our teams are here to support you:
- To register you can access here Internet Banking | Ways to Bank | Suncorp Bank
- Call us on 13 11 55/ visit us in branch for help to register for Internet Banking
- Other support – videos Internet Banking | Ways to Bank | Suncorp Bank
- Guides Internet Banking | Ways to Bank | Suncorp Bank
- Links: Osko fast payments and PayID | Suncorp Bank
- Ways to Bank | About Us | Suncorp Bank
- Understanding Daily Limits And Transaction Limits | Suncorp Bank
What payment options are available to pay my employees and suppliers?
Business Payments Credit
Business Payments credit is a cost-effective option for businesses that need to process less than 1,000 transactions at a time (per file). If you need to make more transactions per file, check out our Multipay option.
- No establishment or account keeping fee
- Use our existing Internet Banking system (no new software to install)
- Available for making payments (crediting accounts) only
- Process Bulk payments, for example pay staff wages with one transaction
- Multi-to-sign functionality available
Multipay
This user-friendly online platform simplifies payment processing. It enables your business to:
- Receive regular payments using direct entry debit, payment cards and BPAY
- Make payments using direct entry credit and BPAY Batch
Need more assistance or information?
Just contact us on 13 11 55 or visit your local Suncorp Bank branch.
Things you should know
* Reserve Bank of Australia Payments Data, as retrieved from the RBA website.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) is the credit provider and issuer of Suncorp Bank Clear Options Credit Cards. Suncorp-Metway Ltd ABN 66 010 831 722 (“Suncorp Bank”) promotes and distributes Suncorp Bank Clear Options Credit Cards on NAB's behalf under an agreement with NAB. NAB has acquired the business relating to this credit from Citigroup Pty Ltd (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”) and has appointed Citi to assist to administer the Credit Cards. Suncorp Bank will not guarantee or otherwise support NAB's obligations under the contracts or agreements connected with the Credit Cards (other than those relating to Internet Banking and Telephone Banking).
++ Osko fast payments can only be made to a PayID or to the BSB and account number of an Osko enabled account at another Osko participating financial institution. Osko fast payments cannot be made from or to Passbook accounts, loan accounts (other than line of credit and overdraft facilities), Farm Management Deposit Accounts, PayLater Accounts and Fixed Term Deposits. Osko fast payments cannot be made from Kids Savings Accounts, Agent’s Statutory Trust Accounts (Qld, NSW) and Solicitor’s Trust Accounts (Qld) but can be made to them.
Staff assisted Osko fast payments cannot be made in branch from Carbon Insights Account and Sub-Accounts, Everyday Options Sub-Accounts, Business Saver Accounts or eOptions Accounts. Future-dated and recurring payments, Business Payment Credits and payments from accounts which requires 2 or more persons to sign to withdraw will not be made as Osko fast payments. We are gradually introducing Osko in Internet Banking so it may not be available for all eligible accounts until the full rollout is complete. Before you confirm a ‘Pay Someone’ transfer in Internet Banking, we will tell you if it will be sent via Osko.
For full details about terms and restrictions that apply to Osko fast payments please read read our Terms and Conditions for Suncorp Accounts and Continuing Credit Accounts and the Product Information Document applicable to your account.
