Here at BCU Bank, we have a commitment to provide our customers with local, personalised service, and award-winning products that meet their needs – so we've made switching to us easy.
We'll help guide you through the steps, and give you handy some tips for a smooth changeover.
Switch to BCU Bank in just a few steps
Open a BCU Bank account
It only takes a few minutes, and all you’ll need is two forms of ID. Alternatively, call us on 1300 228 228 or visit one of our branches.
Identify any regular payments
Review your bank statements to identify your regular payments to and from your account or card (the ‘credits’ and ‘debits’), and make a list. You'll need this later.
Update your details for regular payments
Contact the relevant companies and provide them with your updated card or account details – they'll be able to use these for any regular debits, credits, or bill payments you have set up.
Close your old bank account
Once all your regular payments have been switched over to your new details, it's time to close your old account!
Tips for a smooth changeover
- Use a 13 month payment list. Payment cycles can range from weekly, fortnightly, monthly, quarterly and yearly, so it's worth looking back at least 13 months.
- Check for all regular debits and credits to your current account. This could include a phone bill, your Netflix subscription, or insurance payments. Other regular payments to keep an eye out for could be:
- Your salary or government payments.
- Scheduled or recurring payments set up through your financial instituion – this could be anything from an auto transfer to pay your rent, a scheduled BPAY to pay your power bill, or your fortnightly payment to your savings account.
- Recurring payments from your card details (this is what most of your streaming services and subscriptions will fall under).
- Before you close your old account, keep a record of your previous payees to save you from asking everyone for their account details again. You should be able to print this out from your internet banking.
- When you’re ready, get in touch with the organisations or companies on your regular debits and credits list. This could be to your old account or card details, so ask them to update them to your new ones.
- It could be a good idea to keep both your old and new accounts open for a short period of time, and making making sure there's enough money in the old account to cover any debits set up with your old account details. It'll help to avoid any payments dishonouring, which could help you avoid some fees.
Because we're here to help
Talk to the team
Got a question? Call us on 1300 228 228, pop into your local branch, or chat to us online.
Find your local branch
You’ll find us from Maroochydore to Port Macquarie – drop in and say hi!
Get answers online
Check out our how-to guides, search our FAQs, and find support services.
Got questions about banking with BCU?
You can join BCU Bank in a matter of minutes by opening an everyday account or savings account online.
Alternatively, you can visit us in a branch.
You can also join BCU by applying for and taking out a personal loan, credit card or home loan.
More details about how to apply are available on our product pages.
You can open an everyday banking, savings, or term deposit account online in a matter of minutes – even if you're not a BCU Bank customer.
If you're a new customer you’ll need to be at least 18 years old and have two forms of ID to open your account online.
To open a term deposit, you'll need to first open a fee-free Access Account (or a savings account) and transfer your money in. Once your funds have been received, you can log in to internet banking or the BCU Bank app and open your term deposit.
If you already bank with BCU it's even easier. You can open most deposit accounts online by going to ‘Apply’ in internet banking or ‘Open account’ in the BCU Bank app.
BCU Bank is 'customer owned' which means our customers and our owners are one and the same. This means there is no natural conflict with shareholders like at the listed banks.
We're owned by you, our members, and that means everything we do benefits you.
We invest our profits back into improving our services and helping our customers and their communities.
BCU Bank, a division of Police & Nurses Limited is an authorised deposit-taking institution (ADI) and regulated to the same high standards as the major banks by such government agencies as APRA, ASIC, AUSTRAC and the ACCC.
The Financial Claims Scheme (FCS) is an Australian government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.
Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other ADI that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).
Find out when the FCS would come into effect
More information about the FCS is available on the Financial Claims Scheme website.