Consultation on winding down Australia’s cheques system

In February 2024, AusPayNet responded to Treasury’s consultation on winding down Australia’s cheques system.

The consultation sought feedback on a proposed transition plan for closing down the cheques system by 2030, including the potential need for industry coordination and any challenges that need to be addressed to ensure an orderly transition.

In our submission, we noted it was the view of many Members that an orderly closure of the cheques system could be achieved earlier than 2030. We also highlighted the Government’s critical role in ensuring a smooth and timely transition and that it should make clear commitments on the process and timeframes for both reducing its own cheque usage and addressing any legislative and regulatory barriers to moving away from cheques.

AusPayNet stands ready to play a leadership role in the transition, including through facilitating further discussions between Treasury and industry on finalising the transition plan, and working with industry on any coordination required among Members to achieve the relevant milestones in the plan.

AusPayNet’s submission is available below.