Account Switching for Transaction Accounts

From 1 November 2008, a new package came into effect to make it easier for you to

switch your account to another financial institution. As part of this package, both your

old financial institution and the new financial institution are ready to assist you in

re-establishing your direct debit and credit arrangements from one account to the other. On the other hand, you may want to make the necessary arrangements.

Either way, there is a guide available to help you.

Guide for Doing it yourself

Click here and follow the steps to do it yourself. These template letters can be completed, printed and posted to your debit or credit organisations.
Click here to complete a Change of advice letter for a regular debit.
Click here to complete a Change of advice letter for a regular credit.

Guide for Getting help to make the switch

Click here and follow the steps to get help from your new financial institution to make the switch.


Account Switching for Scheme Cards

Regular Payment Arrangements with a scheme (Visa, MasterCard, American Express or Diners) card account

In December 2009, financial institutions and card schemes introduced a number of initiatives to bring consistency to scheme card account switching. These initiatives include general information material such as FAQs and template forms, to assist consumers that have regular payment arrangements on their scheme cards. This information is available by clicking here.