How long will it take to transfer my regular payments from my old financial institution to my People's Choice account using the switching service?There'll be a short transition timeframe to redirect your regular payments. Your old financial institution has five business days to provide us with the regular payments list. The billing or crediting organisations might take some time to process the switching request, and some require notice well in advance of the billing date. If this is the case, the change might not take effect until the next billing cycle. To minimise any inconvenience and avoid dishonour fees from your old financial institution, you should keep enough funds in your old account to cover any 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.
Note: 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.
Complete and return the Request for Regular Payments List form.
To avoid any delays with processing, please ensure that the form is signed in accordance with the signing authority on the account.
Return the completed form to us in any of the ways listed on the form. We will then send this form to your old financial institution requesting a list of your direct debits and direct credits for the previous 13 months. We will then contact you to arrange a time to determine which direct credits and direct debits you wish to switch and which you wish to cancel, and complete the relevant variation and/or cancellation forms on your behalf.
Once you have signed the relevant forms, we will notify your old financial institution and the direct debit and direct credit suppliers of the changes. We will then send you a written communication to confirm the switching request has been completed.
- You can return the completed form in the following ways:
Post: People’s Choice Member Support Services – Direct Entry Team, GPO Box 1942, Adelaide SA 5001
In person: At your nearest branch
- The switching service only applies to direct debit and direct credit payments.
Good choice! Simply apply to become a member and have your Tax File Number and identification handy.
To make switching easy, please provide us a list of all regular transactions from your previous financial institution.
Alternatively, click here to complete the form, return to us and we'll obtain a list on your behalf.
- People’s Choice is the second largest credit union in Australia, with over 360,000 members and more than 65 branches, advice centres and ATMs. Being member-owned means our customers are actually our owners, who have a direct say in how we do things. Everything we do is designed to benefit our members, and any profits we make are reinvested back into providing better products and services.
- 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 will need you to either call or visit a branch to close your account and won'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.
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.