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Federal Government Reforms - Account Switching

The Federal Government has introduced reforms that aim to make it easier for Australians to switch their bank accounts.

From July 1 2012, the new system will allow people to switch by simply authorising their new banking institution to chase up their direct debits and credits from their old bank.

The aim of the reforms is to allow consumers to switch more easily, without having to be burdened by all the paperwork to do so.

To find out more about how to switch, see our three Switching Steps.

The Switching Steps

Account Switching is now Easy.  You can Switch and $ave today, in 3 Simple Steps.

Step 1

Choose a customer owned banking institution that suits your banking needs, from our locator of credit unions, building societies and mutual banks across Australia.

Step 2

Once you've chosen a customer owned financial institution, open a new transaction account today. It's easy to do, you can make the switch at a branch, online or by phone.

Contact your customer owned banking institution if you need further details.

Step 3

Let your customer owned banking institution do the work for you, so you can put your feet up.

As a new customer you only need to sign some forms, authorising your new customer owned banking institution to contact your old bank.

They can chase up your list of direct debits and credits, to get your new account up and running.

By allowing your new customer owned banking institution to do the paperwork, account switching just got easier and the effort got taken out.

Your new account will soon be created.

So Don't Delay

Say goodbye to your old bank and begin enjoying the customer owned difference. Your new transaction account will soon be live, and you can enjoy the value and service that customer owned banking has to offer.


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