Over the past decade, Australia has seen a significant decline in the use of cheques. In response to this shift, the Federal Government has announced that Australia’s national cheque system will be phased out by 2030, with government agencies ceasing cheque use by the end of 2028.
At The Capricornian, we rely on third-party suppliers to deliver cheque and deposit book functionality to our members. Our current service provider has confirmed they will be discontinuing their cheque processing operations, and unfortunately, no suitable alternative provider is available to take on this function.
This means that, like many financial institutions across Australia, we are required to make changes to our cheque services. Specifically, from Friday 28 November 2025, The Capricornian will no longer accept cheques for deposit.
We understand that this change may be significant for our customers, therefore our team members will be on hand to assist with understanding and using alternative payment methods, including digital banking, direct credit, and merchant solutions.
We’ve gathered a list of frequently asked questions which may continue to help our customers. If your question is not answered below, please feel free to contact our Call Centre on 1300 314 900 or visit a team member in branch.
A quick note to our community:
While we’re saying goodbye to cheques, we want to make one thing very clear – this does not mean cash is going anywhere. We know how important cash access is for many of our members, especially in regional areas. We have no plans to change the way we support cash services. You can continue to bank with us the way that suits you best – whether that’s digital, in person, or with good old-fashioned notes and coins.
FREQUENTLY ASKED QUESTIONS
Why are cheques being phased out at The Capricornian?
The Capricornian is phasing out cheque facilities in line with broader industry trends and the continued decline in cheque usage. While the official industry mandate to phase out cheques isn’t until 2030, our third-party cheque processing vendor has advised that they will be terminating our contract at the end of 2025. This decision has accelerated our timeline and is the primary reason we will be discontinuing this service
When will cheque services stop?
At The Capricornian, these services will officially cease on Friday 28th November 2025. After this date, you will no longer be able to deposit or cash cheques.
What happens if I receive a cheque after 28th November?
Cheques received after this date cannot be processed at The Capricornian. You will need to contact the drawer or organisation who issued the cheque and request an alternative payment method, such as a bank transfer.
Can I still deposit cheques from other banks?
No, all cheque-related services will be discontinued including third-party cheque deposits and interbank cheque handling.
What are my alternatives to using cheques?
Our Branch team members can help you to setup and use alternative methods to cheques including.
- Pay Anyone/Osko Transfers via Internet Banking or The Capricornian App
- Direct Credit
- Merchant Card payments (business members)
I still rely on cheques; how can I get help?
We know this if going to be a big change for our customers which is why our Branch and Customer Connect teams are available to:
- Walk you through your payment alternatives
- Set up scheduled transfers or direct debits
- Provide digital banking support in-person or over the phone.
Will this affect my account?
No, your account remains the same. Only the cheque functionality will be removed.
Will this affect foreign cheques?
No. The end of cheque services on 28 November 2025 only applies to Australian-issued cheques.
Foreign cheques are processed separately through our trusted third-party provider Convera, a global leader in cross-border payment solutions.
This means you will still be able to deposit and bank foreign cheques with us, just as you do today.
Who can I talk to if I have more questions?
We’re here to continue to support you through these changes and any other questions you have:
Call 1300 314 900
Visit your local Capricornian branch
