Switching Transaction Accounts
Step 1
Open a Greater account
First of all, just visit your local Greater Branch and we will open the account that best suits your needs.
Step 2
Identify any regular payments to and from your old account
If you need a hand with this, your old financial institution must provide you with a list of regular direct
debits and credits that have occurred over the past 13 months on request.
Just make sure you leave your old account open during the transition period.
Step 3
Re-establish your payments on the new account
Your local Greater Branch can assist in setting up your payments on the new account for you.
We have forms to transfer your Direct Debits, salary transfers and other payments to and from 3rd parties to
the new account.
Once you authorise each change, we will do the rest for you.
If you use internet banking to make payments it’s a very simple process to set up your payee and biller details
on your new account.
Step 4
Complete the Escape
Once your salary and regular payments have been transferred to your new Greater account, you can close your old
account/s.
It’s that easy!
Tips for a smooth switch
Once all the organisations have been advised of your new account details, you should:
- (Where possible) ensure that you leave funds in your old account until all of your regular payments have
been established on your new Greater account.
- Check your new Greater account when the next regular debit or credit is due to occur and contact the
organisation if it continues to appear on your old account.
- Don’t close your old account until all regular payments appear on your Greater account.
These tips should prevent you from being charged any overdrawn or dishonour fees on your old account, although
the Greater has no control over the timing in which 3rd party organisations update their records.
Next: Refinancing Your Home Loan
