Frequently asked questions:  Account Switching

 

This page contains frequently asked questions relating to Account Switching for use by business customers who process transactions via Direct Credit or Direct Debit facilities.

 

• I'm a business customer using Direct Credit to pay salaries/creditors, how will I know when to change the BSB and Account Number? 
• I'm a business customer using Direct Debit to collect monthly payments, how will I know when to change the BSB and Account Number? 
• Are there any changes to the Terms & Conditions of my facility? 
• How do I change the Contact Details for my Direct Credit/Debit Facility? 
• How do I cancel my Direct Credit/Debit Facility? 
• I've recently opened a BOQ account, how do I arrange for Direct Credit and Direct Debit transactions to switch to the new account? 

 

I'm a business customer using Direct Credit to pay salaries/creditors, how will I know when to change the BSB and Account Number?

 

When a recipient of a Direct Credit payment changes banks they have two options available to them to notify their new BSB and Account Number:

 

• Send the information in a letter direct to your office;  or
• Ask their new financial institution to assist by sending a Switch of Financial Institution and Account Details (PDF 44kb) form to you via BOQ.

 

You will receive this notice as an attachment via Internet Banking.

 

I'm a business customer using Direct Debit to collect monthly payments, how will I know when to change the BSB and Account Number?

 

When a customer whose account you are authorised to debit under a Direct Debit Facility changes banks they have two options available to them to notify their new BSB and Account Number:

 

• Send the information in a letter direct to your office;  or
• Ask their new financial institution to assist by sending a Switch of Financial Institution and Account Details (PDF 44kb) form to you via BOQ.

 

You will receive this notice as an attachment via Internet Banking.

 

Are there any changes to the Terms & Conditions of my facility?

 

Yes, for Direct Debit Users there are a number of minor changes to the Debit User Acknowledgement and Indemnity. 

 

They are summarised as:

 

• act promptly to verify and process requests received;
• contact your customer direct if there is any doubt as to the authorisation;
• retain all change requests in accordance with your facility terms and conditions.

 

A copy of the Debit User Acknowledgement and Indemnity (PDF 35kb) is available here.

 

How do I change the Contact Details for my Direct Credit/Debit Facility?

 

To amend your contact details please print, complete, sign and fax a Direct Entry - Contact Details Amendment (PDF 582kb)

 

How do I cancel my Direct Credit/Debit Facility?

 

If you no longer require the Direct Credit/Debit Facility please print, complete, sign and fax a Direct Entry - Contact Details Amendment (PDF 582kb)

 

I've recently opened a BOQ account, how do I arrange for Direct Credit and Direct Debit transactions to switch to the new account?

 

To make it even easier to move all your direct debit and/or direct credit transactions to BOQ, we have developed the "Change My Bank" website. This website can assist make the change by producing a notification to businesses you have previously authorised to conduct direct debit and/or direct credit transactions of your new BSB and Account Number.

 

To access the website simply visit www.changemybank.com.au 

 

Important Documents

 

• Debit User Acknowledgement and Indemnity (PDF 35kb)
• Switch of Financial Institution and Account Details (PDF 44kb)
• Direct Entry - Contact Details Amendment (PDF 582kb)

 

Industry Links

 

More information on the Australian banking industry's response is available at the following locations:

 

• Australian Payments Clearing Association (APCA)
• Australian Bankers' Association (ABA)