The bank is set to scrap its cash, cheque and phone payments for customers as it moves to digital only payment systems.
, cheque and phone payments for customers from next year as it moves to digital only payment systems.In a letter written to customers, Macquarie Bank said that by November 2024 customers will be unable to write or deposit cheques , deposit or withdraw cash over the counter at NAB branches or make a super contribution or payment with a cheque.From January, Macquarie Bank customers will not be able to order a new cheque book.
Macquarie Bank's telephone banking system will be scrapped in March next year, while in May cheques will be ditched completely. Customers will also be no longer able to deposit or withdraw cash or cheques over the counter at Macquarie branches from May 2024. "As a digital bank, we're committed to transitioning to completely digital payments by November 2024 as a safer, faster and convenient way to bank," a Macquarie Bank spokesperson said.
"The majority of our customers already bank digitally and we're working very closely to support the less than 1 percent of our customers who currently use cheques or cash to ensure they have access to other digital payment methods."
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