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Exiting Cheques

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Like many other financial institutions, Warwick Credit Union engages a third-party payments aggregator for cheque processing. Regrettably, our service provider has informed us that, due to diminishing demand and escalating operational costs, they will discontinue offering cheque processing services in 2024. As a result, we will no longer have the ability to provide our customers with cheque books and bank cheques. We want to ensure a smooth transition for all our valued customers, and as such, we are providing you with the following key dates and steps to help you manage this change;

 

Key Dates
24 November 2023 After this date, you will no longer be able to order new cheque books this includes automatic reorder of cheque books.
31 December 2023 After this date, you will no longer be able to purchase a Warwick Credit Union bank cheque.
29 February 2024 After this date, outstanding cheques written on your Credit Union account will no longer be honoured. Cheques presented for deposit to your Credit Union accounts will not be accepted.
27 May 2024 After this date, all cheque payments and processing will end.

 

We understand that this transition may raise questions or require adjustments to your banking habits. Please review the solutions page and frequently asked questions sections below for general solutions and recommendations.

 
Solutions
Now's a good time to start using alternative digital methods for making and receiving payments. Here are some common types of payments you may be making or receiving today, and how they can be made alternatively:
Paying a bill
  • Use Internet banking or WCUConnect App Banking to make a BPAY payment or Pay Anyone or OSKO Payment, using BSB/Account number or PayID
  • Use a Debit Card via in store EFTPOS terminals. For amounts over $1,000 you will need to insert your card, press Visa Debit and select the Credit option. A PIN will be required.
Pay a friend or transfer money
  • Use Internet Banking to make a Pay Anyone or OSKO Payment, using BSB/Account number or PayID
Pay payment plan installments
  • Use Direct debit agreements, scheduled Future payments on Internet Banking or WCU Connect App
Pay an invoice or supplier
  • Internet banking or WCU Connect App Banking to make a Pay Anyone or OSKO Payment, using BSB/Account number or PayID
Payroll
  • Use Internet Banking to make individual Pay Anyone or Osko payments.
  • Use Bulk Payments to pay multiple accounts at once - contact your local branch
Make a high value payment
  • Apply for an Internet Banking Limit Increase by contacting your local branch
Cash withdrawal for petty cash or register
  • Make an account withdrawal in branch via a withdrawal voucher including 2 to sign
Club or Pub - machine gambling payouts
  • State laws dictate that clubs and pubs can pay gambling machine payouts via Electronic Funds Transfer. Refer to the legislation for your state.

 

Frequently Asked Questions
Can I still order cheque books? Existing customers that currently hold a cheque book facility on their account will be able to order cheque books until 24 November 2023. After this date, your current cheque books will remain valid until we stop offering cheques as a payment service on 29th February 2024.
What will happen to the CHQ option on my card? These changes only relate to cheque books and cheques there will be no changes to your debit card functionality.
What should I do with my existing chequebook? If you have an existing Warwick Credit Union cheque book containing unused cheques leaves that will not be used before 29 February 20, we recommend that you return them to your local Credit Union branch for a refund of 33 cents per unused cheque leaf.
What happens if a Warwick Credit Union cheque I have written is presented after 29 February 2024? If you have issued a cheque and it is presented to any financial institution by the Payee after 29 February 2024, it will not be accepted.
What should I do if I am given a Credit Union cheque after 29 February 2024? After 29 February 2024, you will no longer be able to deposit cheques drawn on Warwick Credit Union or any other financial institutions into a Warwick Credit Union account. Warwick Credit Union cheques will no longer be accepted at other financial institutions. If you receive a cheque drawn on Warwick Credit Union, please contact the individual or organisation who provided the cheque and arrange for an alternative payment solution to be used.
What should I do if I am given a cheque from another institution after 29 February 2024? After 29 February 2024, you will no longer be able to deposit cheques from any financial institution into a Warwick Credit Union account. You may wish to contact the individual or organisation who provided the cheque and arrange for an alternative payment solution to be used.
Will Warwick Credit Union Bank Cheques not negotiated be refundable? We will refund unnegotiated Warwick Credit Union Bank Cheques at any Warwick Credit Union branch until 30 May 2025.

 

If you have further questions or concerns about this transition, please do not hesitate to contact our customer service team by;

 

We thank you for your understanding and continued support as we work to enhance our banking services.

 

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