Switching to a customer-owned bank based right here in WA is easy. All you need to do is open a new P&N account, write a list of regular payments coming from your current bank account, and set them up on your new one with us.
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:
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.
For scheduled bill payments using BPAY, or payments to a BSB and account number or PayID, the process is simple:
For direct debits or credits set up with a service provider or employer, you can either:
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.
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.
If you fill in a Switching of Regular Payments Form, we can handle some aspects of the switch on your behalf, such as:
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.
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