Find answers to some of the most common questions from our members
There will be a short transition timeframe to redirect your regular payments. Your old financial institution has five (5) business days to provide us with the Regular Payments list and the billing or crediting organisations may take some time to process the switching request. Additionally, some billing or crediting organisations require notice of a change of bank details well in advance of the billing date – if so, a switching notice given under this arrangement may not take effect until the next billing cycle.
In order to minimise any inconvenience and avoid dishonour fees from your old financial institution, you should maintain a sufficient amount of funds in your old account to cover direct debits that are scheduled during this ‘switch period’.
People’s Choice will arrange to receive your Regular Payments List from your old financial institution. We’ll contact you to confirm the transfer of your regular payments and manage the switch of your regular payments to your nominated People’s Choice account.
Additionally, you may be contacted by the billing or crediting organisations to confirm your details and account changes in accordance with their policies.
While every effort is taken to ensure the list is complete, the Regular Payments List we receive may not include all regular or one-off payments and may include some cancelled arrangements. Please ensure you check the Regular Payments List thoroughly.
You will need the following information:
From there, all you need to do is follow the steps, print the letters, sign and send them to the billing or crediting organisations.
To ensure you print the correct letter for the company, make sure you select the correct Notification Type (Direct credit, Direct debit, Salary credit, Shareholder credit, Credit card payment) from the drop down menu on the ‘Your transfers’ page.
The Easy Switch tool generates letters to companies that you have your regular payments with, advising them of your new People's Choice Credit Union account details.
It can take time for the new direct debit and direct credit information to be processed by the billing or crediting organisations. Additionally, some billing or crediting organisations require notice of a change of bank details well in advance of the billing date – if so, the change of details may not take effect until the next billing cycle. Please ensure you have sufficient funds in your old account to cover this ‘switch period’ and avoid any honour/dishonour fees with your old financial institution
Easy Switch is an online tool to make it easier for you to manually switch your regular payments to your new People’s Choice account.
To use the switching service all you need is the BSB and Account number, Account Name and Signing Authority for both your old account and your People’s Choice Account.
The switching service only applies to direct debit and direct credit payments.
For your convenience there are options on how you can switch your transaction accounts to People's Choice:
For more information on why you should switch your transaction accounts to People's Choice Credit Union click here.
People’s Choice is the second largest Credit Union in Australia with over 360,000 members, more than 65 branches, advice centres and ATMs.
Being member-owned means our customers are actually our owners and have a direct say in how the business is run. Everything we do is designed to benefit our members and any profits we make are reinvested back into providing better products and services.
As the above types of payments are customer initiated, they cannot be re-established using the switching service or the Easy Switch tool.
If you have not already registered for Internet Banking, you can do so here.
The switching service only applies to Transaction accounts that are owned by one or more persons (either individually or jointly) for non-business purposes. Savings accounts (such as the Online Saver Account), Business accounts (such as the Business Access Account) and any account owned by a corporation are not covered by the switching service.
No. Most financial institutions require customers to either phone or physically visit a branch to close their account and don't accept written authorisation.
If your old financial institution does accept written authorisation, here’s the form you can use to close your old account.
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