ANZ has announced it will be phasing out cheque books in the coming months due to a “decline in usage”. The bank says customers already using cheque books can continue to do so, however, customers who have never had a cheque book will not be able to order one from June 16. Those receiving replacement cheque books will not be impacted by the change. ANZ has communicated the change to its customers, the majority of whom it says do not use the outdated form of banking.
5 per cent of our customers who are eligible for a cheque book have one or are actively using cheques.” Cheque usage in Australia has decreased by about 90 per cent over the past 10 years. In June 2023, the Federal Government announced it would be winding down the country’s cheque system, and that it would phase out government usage of cheques by the end of 2028.
Source: News Formal (newsformal.com)
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