How to switch banks at a click of a button

Information verified correct on October 25th, 2016

Switching banks has never been so easy with this one simple step.

If you’re unhappy with your current bank account, don’t put up with it. It’s easy to switch banks with this one simple step:

St.George Complete Freedom Account

New Bank Account Offer

Enjoy low monthly account-keeping fees with St.George Complete Freedom Account and $0 ATM fees.

  • $0 monthly fee on new accounts or with at least $2,000 deposits made per month
  • $0 ATM withdrawal fee at 50,000+ ATMs globally
  • Visa Debit with payWave

    Ask your new bank to help you

    The Australian government banking reforms that became active from 1 July 2012 made it very easy to change banks. All you have to do is choose the financial institution you want, whether it be a bank, credit union or building society, fill out one form and the institution will do all the work for you.

    The bank will contact all the institutions you have automatic debit and credit arrangements with giving them your new transaction account details.

    Once you have shopped around and found the bank you want to work with, ask them to help with the switch. When contacting your new bank for help, the bank will need a 13-month transcript of direct debits and credits from your previous bank.

    The 13-month list will be given to you by your new bank so you can choose what debits and credits you would like to transfer over to your new bank account. If you have trouble, just ask your new bank to help you.

    The following items will not be included on the 13-month list:

    • “Pay anyone” transactions (such as fortnightly cleaner payments or bills).
    • BPAY payments.
    • Payments that are recurring and where you've given your debit card number.

    Rates last updated October 25th, 2016
    Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
    St.George Complete Freedom Account
    10% Cash back for online gaming purchases.
    Waived account keeping fees when minimum deposit is met with no minimum balance.
    Visa $0 $2,000 No account keeping fees, if you deposit $2,000 per month plus no minimum balance required. No ATM fees when using St.George, Westpac and BankSA ATMs. Open More
    ANZ Access Advantage
    ANZ have taken the hassle out of switching with it's Assisted Switching Service.
    Visa $0 $2,000 No monthly account fee when you deposit at least $2,000 per month. Other fee waivers available based on your personal situation. Open More
    NAB Classic Banking
    Use NAB's Switching Wizard to switch all your debits and credits.
    Visa $0 $0 No monthly account fees, ever. Free use at over 3,400 NAB and RediATMs Australia wide and $0 overdrawn fees. Open More
    Westpac Choice
    Once you've opened an account with Westpac, you can switch your banking across online.
    Mastercard $0 $2,000 No ATM fees when using St.George, Westpac, BankSA or Bank of Melbourne ATMs in Australia. Deposit at least $2,000 per month and enjoy no monthly service fee. Open More
    ING DIRECT Orange Everyday Account
    Move phone bills, house repayments and your hard-earned salary to your new ING Direct bank account.
    Visa $0 $1,000 No monthly fees, and you can use any ATM in Australia for free when you deposit $1,000 each month e.g your salary. Open More
    ME EveryDay Transaction Account
    Changing banks a lot simpler than you might think with ME.
    Mastercard $0 $0 No fees when using any ATM in Australia – you'll get a refund within 30 days for any fees you pay for an ATM. More
    Citibank Plus Everyday Account
    Free international money transfers and free overseas Citibank ATM withdrawals.
    Visa $0 $0 No ATM fees using Citibank, Westpac, BankSA and St.George branded ATMs in Australia. Use overseas Citibank ATMs for free. More
    Bankwest Qantas Transaction
    You can switch in 4 easy steps with Bankwest's simple process.
    Mastercard $0 $2,000 No monthly fees (conditions apply). Free access to Bankwest and CommBank ATMs in Australia. No overseas ATM withdrawal fees (charged by Bankwest) though third party fees may apply. More
    Back to top

    Closing your old account

    Once you've opened your new account, don't forget to close the old one. Although the old account may have no money in it, the bank could still charge you account keeping fees. Close your old account once you have:

    • Successfully moved all your debits and credits.
    • Collated your list of payments from your old account that include "pay anyone" and BPAY.
    • Told every institution about your new card and account numbers.

    Closing your old account is a relatively hassle-free process. Normally you will have to visit a branch to close the account.

    Shirley Liu

    Shirley is finder.com.au's publisher for banking and investments. She is currently studying a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

    Was this content helpful to you? No  Yes

    Related Posts

    Savings Account Offers

    Learn about our information service
    ME Online Savings Account

    Maximum Variable Rate


    Standard Variable Rate

    ING DIRECT Savings Maximiser

    Maximum Variable Rate


    Standard Variable Rate

    Citibank Online Saver

    Maximum Variable Rate


    Standard Variable Rate

    Bankwest Hero Saver

    Maximum Variable Rate


    Standard Variable Rate


    Ask a Question

    You are about to post a question on finder.com.au

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com.au is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
    Rates and fees mentioned in comments are correct at the time of publication.
    By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

    Ask a question