How do I close my membership?
We’ll be sad to see you go, but if you wish to close all of your accounts you can do so by sending us a secure message via Internet or Mobile Banking, along with a BSB and Account number so we can refund your $10 share.
Alternatively, you can complete the Request for termination of Membership form and email to us at [email protected].
Before you close your membership, here are some things you should consider:
- Transfer all of your funds to another bank account.
- If you have a Credit Card, it may take up to 31 days after your card has been cancelled before we are able to close your account.
- If the account is overdrawn or you still have money owing on any loans, you will need to deposit funds to cover the outstanding overdrawn amount and, where applicable, repay the outstanding balance of all your loans. This must be done before we can close your account.
- Review your transaction listing or statements via Internet Banking to determine which service provider/s you will need to notify of your updated bank account details, such as direct credits for payroll or deductions for insurance policies.
- If you have any direct credits allocated into your account/s, you will need to promptly notify the organisation so that they can stop their payments into your account.
- For any recurring payments you have set up using your debit card number and expiry date, remember to contact the merchant or service provider directly to update your payment details.
- For any direct debits linked to your account/s using your BSB and account number, ensure you promptly update your bank account details with the service provider/s so that they can stop drawing their service fees from your closed account. Any direct debits received after your account has been closed will be dishonoured.
- If you wish to cancel any of your direct debits or recurring payments, please click here for more information.
- If you are switching to a new financial institution, you or your new provider may request from us a list for the previous 13 months of your direct debit arrangements, direct credit arrangements and periodical payments currently in effect. Please note that this list will not cover Bpay® payments, internet ‘Pay Anyone’ arrangements or recurring arrangements where you have provided your debit or credit card number.
- If you require copies of statements please ensure you download them from Internet Banking prior to termination taking effect.
- Unless you notify us, any existing authorities you hold that permits you to operate on other’s accounts will be cancelled.
