Before you make the switch to Defence Bank, please read the important information below.
What's on the list of regular payments?
The list of regular payments will give us a list of direct debits (like gym membership and utility bills) and direct credits (like your salary) for the last 13 month period. It will also contain payments like BPAY, or ‘pay anyone’ transfers set up using online banking systems.
What payments can Defence Bank help me switch?
We can help you switch over the regular payments were you’ve supplied your BSB and account number to a third party.
What payments can’t be switched?
Unfortunately, the new system doesn’t cover 100% of regular payments. Regular payments that you’ve set up using online banking systems, such as BPAY or ‘pay anyone’ payments, are things that aren’t covered by the new system. These payments are included in the list of regular payments, so you’ll be able to use this as a guide for the payments you’ll need to update. You can set up these payments again when your access to Defence Bank Online Banking is set up.
What about regular credit card and debit card payments?
The switching process does not apply to regular payments set up where you have supplied your credit card or debit card numbers. When you receive your new Defence Bank credit card or debit card numbers, please advise any parties of your new account or card details when you get them. You can use the regular payments list as a guide for the organisations you’ll need to contact.
Can I switch to Defence Bank online?
How long will it take to switch my regular payments to my new account?
While the process of joining Defence bank and supplying your new account details to the relevant parties should take no longer than a few weeks, some organisations may have different billing cycles or need more notice to change over your account details. This means that some organisations may not start debiting or crediting your new account for a month or more.
Can I speed up the switching process myself?
Yes, you can. If you have supplied your credit card or debit card number as a way to make a regular payment (for a utilities bill, for example), many suppliers offer a service where you can change your details yourself, via online access to your account, or even over the phone.
To ensure your salary is changed over as quickly as possible, you may want to advise your employer, or any party that provides you with income, of your new account details as soon as you can.
When should I close my old bank account?
We recommend that you leave enough money in your old bank account to cover any regular payments that you may not have switched to your new account yet. Once you’re certain that all the regular payments have been switched, feel free to close your old account.
Which regular payments are not covered by the switching process?
The switching process does not cover regular payments where you have supplied your credit card or debit card number. It also doesn’t cover BPAY payments or ‘pay anyone’ payments set up using online banking systems. You will need to switch these payments over yourself.
Need more information on switching to Defence Bank?
If you need any more information about switching to us, call our Contact Centre on 1800 033 139, Monday to Friday, 8am to 8pm AEST, or email us at email@example.com