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Turning a page: changes to cheques

Over the last 10 years, there has been a 90 percent decline in the use of cheques within Australia. The Federal Government has announced it will close down Australia’s cheque system by 2030, along with phasing out Government use of cheques by the end of 2028. As a consequence of this, some suppliers of cheque services to financial institutions have already commenced ceasing these services.

The Capricornian engages third party suppliers to facilitate cheque and deposit book services to our members. The Capricornian’s service provider has made the decision to discontinue the provision of these services. Regrettably as a result of this decision, The Capricornian, like many other financial institutions around Australia are now required to implement changes to our chequing and deposit book services.

As a result, Capricornian issued cheque and National Australia Bank (NAB) facilitated deposit books will be invalid from 27 May 2024. Members will still be able to deposit cheques from other financial institutions (that remain active chequing participants) in branch.

Key dates you need to know

30 April 2024The following cheque services will be discontinued:
– Issuing of TCL Bank cheques
– Ordering New or Replacement cheque books
27 May 2024From this date, Capricornian personal cheque, and deposit book services will cease and outstanding cheques written against a Capricornian account will no longer be honoured.

Uncashed Capricornian issued cheques will not be processed and you and the payee will need to arrange another payment method.
Over the counter deposit services to Capricornian accounts at the National Australia Bank (NAB) will cease.

You will still be able to deposit cheques issued by other financial institutions (that remain active chequing participants) to Capricornian accounts.

Processing of all cheques will eventually cease within Australia. For now, The Capricornian will process cheques from other financial institutions and will notify members well in advance of any changes.

We know change, especially regarding how you manage your finances, can be challenging.

That’s why we’re here to help!

  • Chat to us in person at your local branch
  • Call us on 1300 314 900 between 8:30am to 4:45pm Monday to Thursday and 8:30am to 5:00pm Friday.
  • Talk to us online via chatbot or email us at

You can also find our frequently asked questions below.

Our priority will always be to offer our members the best in banking, and we have a range of alternative payment solutions to cater for your banking requirements without the need to use cheques.

Frequently Asked Questions

As of 30 April 2024, you can not order a cheque book from The Capricornian Ltd.

For security reasons, please dispose of your current cheque book or bring them into your local branch and we can dispose of it for you.

After the cut-off date 27 May 2024, all uncashed cheques will be dishonoured and cannot be paid. You and the payee will need to arrange another method of payment.

You will still be able to deposit cheques issued by other financial institutions into your Capricornian Account.

You can log into The Cap App, Online Banking or Phone Banking to send and receive money.

You can also pay bills using your Visa Debit card or BPAY.

Call our team on 1300 314 900 or drop into a branch for assistance in setting up any of the above payment options.

We recommend providing your BSB and Account Number or Pay ID to those who are paying you by cheque. This way funds can be transferred safely and quickly into your account.

Not all NAB staff will be aware that we have removed our chequing services. If a NAB employee agrees to deposit a cheque or cash for you, unfortunately it will be declined.