Recently the Federal Government enacted guidelines designed to help consumers more easily move their banking from one institution to another.  In support of these guidelines Transcomm has taken steps to help with those who wish to move their banking details over to Transcomm.

One of the main issues with moving from one institution to another is the collection of direct debits and direct credits that accumulate over time, a barrier to smooth transition of banking can be working out how to contact direct debitors and creditors and inform them of the new banking details.

If you are seeking to join Transcomm Credit Union, you are entitled to request a ‘Direct Debit and Credit report’ from your old financial institution, this report can then be brought to us where our member services staff will assist you with having the direct debits and credits changed over to your new banking details

Conversely, if you are moving on from Transcomm to bank elsewhere, we will be able to provide you with a complete ‘Direct Debit and Credit report’ that you can take to your new financial institution.

In addition, if you already have all the contact details for those people or organisations who direct debit or credit your account, and wish to transfer those direct debits and credits to your Transcomm account, you can download the form below which has been made easy to fill out.

Account Switching form

In general, the following tips are helpful when moving banking from one place to the other (regardless of where you bank):

1. Set up your new banking account(s)
2. Make sure your new accounts have their cards/chequebooks all working
3. Transfer your direct debits and credits to your new banking details
4. Close your old accounts if you wish

These simple steps can take a great deal of worry and hassle out of switching accounts.

If you have any queries or questions, please call member services on 03 9 629 4484