Deposit Book Changes


What you need to know about deposit books

We’re changing the way we process deposits for personal banking accounts through Commonwealth Bank branches. 

As of 22 June 2021, we’ll no longer be able to accept cash or cheque deposits to your Bank First account through a Commonwealth Bank of Australia (CBA) branch. This is due to our depositing service arrangements with the Commonwealth Bank of Australia changing.

Frequently asked questions

  • Who is impacted?

    If you have personal banking accounts with us this change will apply to you.

    Business accounts will not be impacted and can continue making deposits using existing encoded deposit books.

  • How do I deposit my cash and cheques now?

    If you need to make cash and cheque deposits, the below options are still available: 

    • Cash and Cheque Deposits at Australia Post: If you have a Visa Debit Card linked to your account, you can make deposits over the counter at your local Australia Post Office. If you do not have a Visa Debit Card, you can order one by calling us on 1300 654 822.
      Cash deposits will clear instantly into your account and cheques will take 5 business days to clear.
    • Cash and Cheque Deposits at our Branches: You can visit our branches at Moonee Ponds and Hawthorn East to deposit both cash and cheques over the counter.

    Cash will clear instantly into your account and cheques will take 3 business days to clear if banked before 3:00pm.

  • How long do I have until the change happens?

    You can continue to deposit at a CBA branch up to and including 21 June 2021. Deposits at a CBA branch after this date will not be accepted.

  • Why can’t I use my deposit book at CBA branches anymore?

    We understand that this is a significant change to our Members who have used encoded deposit slips at Commonwealth Bank branches over many years.

    Considering the challenges of the COVID-19 pandemic, we recognised there has been a change in the way we all bank.

    This means we have adapted to the changing environment and modernised our banking practices towards paperless, online and contactless methods of banking.

    These changes help us to focus on providing our Members with sustainable, efficient banking for your everyday needs.

  • How do I send and receive money online?

    You can also send and receive funds via Internet Banking or our Mobile Banking App

    You can make direct deposits via standard transfers with a BSB and account number or by an Osko transfer. Osko transfers allow you to make and receive deposits in near real-time across banking institutions.

     
  • How do I access online banking?

    If you would like to register for Internet Banking, please contact us on 1300 654 822

    If you have any further enquiries, you can contact us online or call our friendly consultants on 1300 654 822

     

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For any other enquiries please get in touch.