Important update: Phasing out of cheques in Australia

We want to let you know about some important upcoming changes to the way cheques are used in Australia.

The Australian Government has announced that the national cheque system will be fully phased out by 2030. This is part of a broader effort to modernise Australia’s payments infrastructure, making it more efficient and secure for everyone. The transition will happen in stages to ensure a smooth adjustment, with key milestones set to guide both the industry and you, our member.

Here are the dates most relevant to you:

• After 30 October 2025 - You will no longer be able to order new personal cheque books.
• After 31st March 2026 - BankVic will no longer be able to issue cheques for large purchases such as private car sales using financial institution cheques.
• After 1 July 2026 - You will no longer be able to issue or deposit cheques by mail or in person at BankVic branches.

You can still issue a personal cheque and deposit cheques either by mail or in person at BankVic branches, or at an Australia Post Office using a Bank@Post QR code until 30 June 2026.

If you need to deposit a cheque before or after 1 July 2026, BankVic has partnered with Australia Post's Bank@Post network to offer members access to cheque deposit services at the 3,400+ (including more than 1,800 in rural and remote locations) Post Offices around Australia.

Cheques have served Australians well for many decades, and we recognise that for many of our members, they remain a trusted way to manage money. At the same time, fewer people are using cheques, with most choosing faster, safer, and more convenient payment methods.

We know this change may feel difficult, especially if you’ve relied on cheques for a long time. Please be assured that you will not be facing this transition alone. Over the coming months, we’ll share clear guidance, resources, and personal support to help you explore and adopt alternative payment options that suit your needs. To help support this transition we will increase the Bpay limit and daily EFTPOS transaction limit on your account from 30 October 2025.

If you’d like to know more about what these changes mean, or you’d like to discuss payment alternatives, our team is here to support you.

Frequently asked questions

Why are cheques being phased out?

The Australian Government has announced that the national cheque system will be fully phased out by 2030. This change is part of a broader plan to modernise Australia’s payment systems, making them more efficient and secure. With fewer people using cheques, the infrastructure to support them is becoming harder to maintain.

When will I no longer be able to use cheques?

The phase-out will happen in stages: From 30 October 2025, you will no longer be able to order personal cheque books. You can still deposit cheques at participating Bank@Post outlets until 30 June 2026. Other key milestones will be communicated as they are confirmed across the industry.

What are my alternatives to using cheques?

There are a range of safe and convenient payment options available, including:

• Direct transfers through the BankVic app and internet banking
• PayID and Osko for fast payments between accounts
• BPAY for paying bills
• Debit and credit cards for everyday purchases

Our team can walk you through these options and help you choose the one that suits you best.

Will I still be able to deposit cheques I receive after June 2026?

Yes. If you need to deposit a cheque, BankVic has partnered Australia Post's Bank@Post network to offer members access to cheque deposit services at the 3,400+ (including more than 1,800 in rural and remote locations) Post Offices around Australia.

What support is available if I find this change difficult?

We understand this transition may feel challenging. That’s why we’re committed to providing step-by-step guidance, dedicated support, and one-on-one help where needed. You won’t have to navigate this change alone.