Cheques Transition Updates

November 2024

18 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. Under the Government’s Cheques Transition Plan, cheques will cease being issued by financial institutions by 30 June 2028 and cease being accepted by them on 30 September 2029.

AusPayNet will lead an industry-wide transition coordination program, working with financial institutions in the lead-up to the closure of the cheques system. The program will be subject to an application for ACCC authorisation.

Our work in coordinating the cheques transition program will include workstreams on overall migration management, migration of use cases, and clear and consistent industry communications. This work will assist in ensuring cheque users continue to be supported in the transition.