Switch to P&N Bank

Step 2. Identify your regular payments

Once you've opened your new account, you can start transferring any regular payments you have set up across to P&N.

To get a list of all your regular payments, you can either:

• look at your past transaction history or bank statements from the last 13 months, or
• ask your previous financial institution to give you a list of your regular payments from the last 13 months.

You'll want to include any existing payments that occur regularly — that could be weekly, fortnightly, monthly, quarterly, six monthly or annually.

Tip: Regular payments to your account could include your salary or government payments, and regular payments from your account could include debits such as bills, rent, a gym membership or insurance payments.

Step 3. Set up your recurring payments on your new account

For scheduled bill payments using BPAY, or payments to a BSB and account number or PayID, the process is simple:

• log in to P&N Bank Internet Banking or the Mobile App and follow the prompts from the Transfer/Pay screen to set them up online, and
• cancel the payment with your previous financial institution.

For direct debits or credits set up with a service provider or employer, you can either:

• contact the service providers and/or employer directly and follow their instructions, or
• send them a change advice letter by email or post.

We have created some change advice templates for direct debits, direct credits and credit card payments to make this process easier for you.

Tip: Keep a list of your regular payments so you can cross them off as you go. This will help prevent you from missing any and you'll be able to track which providers you still need to contact.

Step 4. Close the old account

Once your new account with P&N is up and running, you've identified any existing payments and taken the steps to switch them over, it's a good idea to keep both accounts open for a short period while the switch takes place. We recommend making sure you keep enough money in the old account to cover any payments that fall due in that time.

Once all your regular payments have been successfully switched over, close the old account.

Tip: Don't forget — you may get charged account keeping fees if the old account is left open.

Not in a hurry and want more help?

If you fill in a Switching of Regular Payments Form, we can handle some aspects of the switch on your behalf, such as:

• we can contact your previous financial institution to get a list of your regular payments over 13 months, and
• we can submit a change advice to your employer or any service providers who you have a direct credit or debit with. Please note, this won't cover any regular BPAY payments, scheduled transfers to a BSB and account number or PayID, or debits linked to your card details — you will still have to arrange for these to be updated yourself.

Note: The assisted switching option can take up to eight weeks to complete. If you would like to switch over sooner, we'd recommend following the four easy steps above.

For more information, view our Switching made easy guide, call us on 13 25 77 or visit your local branch.