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When are cheques no longer in use?
Australian Government milestone dates
• By 30 June 2028:
Cheques can no longer be written. Personal, commercial, government and bank cheques cannot be written after this date. Cheques written after this date will not be accepted and no payment will be made.
• From 30 September 2029:
The cheques system closes. Personal, commercial, government and bank cheques cannot be deposited after this date. Cheques will no longer be accepted for payment by banks and financial institutions.
What this means for IMB members
There are no immediate changes to the way you use existing IMB cheques today (where you already have a cheque facility).
Over the coming months, IMB will provide information and support members to move to alternative payment options for common cheque use cases.
Some organisations and financial institutions may reduce cheque services earlier than the national end dates. If you receive a cheque drawn on another institution, their timing may affect whether it can be deposited. Reach out to our team in branch or on 133 462 if you have questions about a cheque you have received.
Alternatives to cheques when paying and receiving money
Paying bills
Paying invoices and bills for utilities, rates and services can be accomplished with BPAY®, via direct debit, using card payments, or an online transfer like an EFT (electronic funds transfer) or Osko®/PayID (real-time payments, subject to limits).
Paying someone
If you’re paying a person directly for any reason, use an online transfer (EFT), PayTo or Osko®/PayID, (where available), or card payment if that is accepted by the payee.
Receiving payments
Share your BSB & account number with the payer or set up Osko®/PayID so others can pay you quickly, usually in under a minute. Click the link to find out how.
Donations
Online donations using your card or recurring direct debit, which can be set up in Internet Banking.
Large value payments
Bank transfer via the IMB Mobile App or through Internet Banking. Talk to us if you need help with increasing the payment limit or for making safer payment checks.
Depositing a cheque you receive today
If you need to deposit a cheque, visit a participating IMB branch or an Australia Post ‘Bank@Post’ outlet and allow standard clearing times.
How to get ready (simple steps)
- Identify where you still use cheques. Go through bills, contractors, school fees, clubs, strata, gifts and so on.
- Contact the people or organisations you pay by cheque and ask for alternative payment details. These include BSB & account number, BPAY® biller details, PayTo or direct debit instructions.
- Set up Internet Banking and install the IMB Mobile App if you haven’t already and consider registering a PayID for easier payments.
- Update any standing processes to use electronic payments. For example, business supplier templates, club payment processes, trust distributions and so on.
- Store chequebooks securely and never share cheque details. If you stop using cheques, destroy unused cheques securely. You can bring them to a branch for safe disposal or cross-cut shred.
