ANZ Bank to Discontinue Cheque Books for New Accounts from June 16

ANZ Bank has announced that it will no longer issue cheque books for new accounts opened from June 16, 2024, onwards in Australia. The decision comes as the bank cites a significant decline in the usage of cheques among its customers.

According to the announcement, existing ANZ customers who currently hold cheque books will be able to continue using them without any changes. However, new customers who open accounts with the bank from the specified date will not have the option to order cheque books.

The bank clarified that customers who are currently receiving replacement cheque books will not be affected by this change and can continue to request replacements as needed.

Why this matters: The move by ANZ Bank reflects the broader trend of declining cheque usage in Australia as digital payment methods gain popularity. This change may encourage more customers to adopt electronic banking and payment solutions, further accelerating the shift towards a cashless society.

ANZ Bank's decision to phase out cheque books for new accounts aligns with the evolving preferences of its customer base. As digital banking continues to grow, the bank aims to streamline its services and focus on providing efficient electronic payment options to meet the changing needs of its customers.

Key Takeaways

• ANZ Bank to stop issuing cheque books for new accounts from June 16, 2024.
• Existing customers can continue using cheque books, but new ones won't have the option.
• Customers receiving replacement cheque books will not be affected by the change.
• The move reflects declining cheque usage as digital payment methods gain popularity.
• ANZ aims to streamline services and focus on efficient electronic payment options.