Important update: Phasing out of cheques in Australia

The Australian Government has announced that the national cheque system will be fully phased out. Read more to understand how this may affect you.

Preparing for the future: Changes to cheques

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.

To support a smooth transition, these changes will happen in stages. Below are the key dates that are most relevant to you.

Key date

  • From 1 July 2026
    BankVic will no longer accept or honour cheques.
    You will no longer be able to issue or deposit cheques by mail or in person at BankVic branches.

You can continue to deposit cheques at Australia Post using a Bank@Post QR code.

Depositing cheques during the transition

Until 30 June 2026, you can continue to deposit cheques:

  • By mail
  • In branch
  • At Australia Post using a Bank@Post QR code

After 1 July 2026, cheque deposits will be available through Australia Post’s Bank@Post network.

BankVic has partnered with Australia Post to give you access to cheque deposit services at more than 3,400 Post Offices across Australia (including over 1,800 in rural and remote locations).

What this means for you

With key changes approaching, now is a good time to start planning how you’ll manage payments without cheques.

You may wish to begin using:

  • Bank transfers (including Osko)
  • BPAY
  • Card payments

To support this transition, BankVic has increased BPAY, Osko and daily EFTPOS transaction limits on your account from April 2026.

Supporting you through the change

Cheques have served Australians well for many decades, and we understand that for some members, they remain a familiar and trusted way to manage money.

We know this change may take some adjustment, and we’re here to support you. Over the coming months, we’ll continue to share guidance and resources to help you transition to alternative payment options.

If you’d like to discuss what options may work best for you, our team is here to help.

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. With fewer people using cheques, the infrastructure required to support them is becoming harder to maintain, and payments are increasingly moving to faster and more secure digital options.

When will I no longer be able to use cheques?

Key changes include:

  • From 30 October 2025 - no new cheque books
  • From 1 July 2026 - BankVic will no longer accept or process cheques

What are my alternatives to using cheques?

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

  • Bank transfers via the BankVic app or internet banking
  • PayID and Osko for fast payments
  • BPAY for bills
  • Debit and credit cards for everyday purchases

Will I still be able to deposit cheques after July 2026?

Yes. You can continue to deposit cheques through Australia Post using Bank@Post.

What support is available if I need help?

We understand this change may take some adjustment. Our team is here to support you with guidance and one-on-one help to find payment options that suit your needs.