Cheques Transition
Winding down Australia’s cheques system
Background
In June 2023, the Australian Government released its Strategic Plan for Australia’s Payments System, which outlined the key priorities and supporting initiatives for Australia’s payments system. One of the key priorities was modernising payments infrastructure, including by phasing out cheques.
In November 2024, following a consultation process, the Government released its Cheques Transition Plan, which outlined next steps to ensure that the transition away from cheques is smooth and Australians who use cheques are well supported through the transition.
The Transition Plan is to be delivered in two phases:
| BY 30 JUNE 2028 | ON 30 SEPTEMBER 2029 |
| Cease issuance of personal, commercial, government and bank cheques. Cheques written after this date will not be accepted, and no payment will be made. |
Cease acceptance of personal, commercial, government and bank cheques. Cheques will no longer be accepted for payment by financial institutions. Close the cheques system. |
The role of AusPayNet
In the Cheques Transition Plan, the Government noted AusPayNet’s leadership of an industry program of work to coordinate the transition away from cheques, subject to seeking and receiving ACCC authorisation to enable collaboration among industry participants and other key stakeholders on the coordination program.
AusPayNet’s program of work to coordinate the transition will include workstreams on overall migration management, migration of use cases, and clear and consistent industry communications.
On 18 December 2024, AusPayNet was granted interim authorisation on the Cheques Transition Program (Application for authorisation AA1000689) (Interim Authorisation). Final Determination by the ACCC is expected in April 2025. If granted, it would enable collaboration among industry participants and other key stakeholders on the coordination program.
The Interim Authorisation enables AusPayNet to start the preparatory work needed for a coordinated wind-down of the cheques system. AusPayNet has accordingly established a program of work to achieve this outcome, and updates will be regularly provided to APCS Members and key stakeholders.
Program updates
November 2024
The Australian Government announced this week a move aimed at ensuring an orderly phase-out of cheques as part of a strategy to modernise Australia’s payments system.
Contact
If you have any questions regarding AusPayNet’s Cheques Transition program, please contact our Head of Transition Programs.
