Faster, safer, more convenient ways to pay

If you currently use cheques, there are several alternative ways to pay or be paid

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INTRODUCTION

Alternative ways to pay

As the timeline for closure of the cheque system approaches, cheque users should know there is a range of alternative payments methods available.

While cheques can take several business days to clear, digital payments are fast, efficient, convenient and have additional security measures.

Banks and financial institutions are aware that some customers may have difficulty managing this change and can provide assistance to customers with alternative payment methods.

See ways to pay Make safe payments

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Alternative payment methods

Explore the different payment options designed to suit different payment needs.

Direct deposit (bank account transfer)

Pay directly into the bank account of another person or a merchant, using a BSB and account number. For payments in real time with PayID, payment is made via a phone number, email address or ABN.

BPAY

A service enabling online payment of bills including water, gas and electricity, phone and internet, council rates and insurance premiums.

Cash

Using physical currency (coins and bank notes) offers immediate payment, where cash payments are accepted.

Credit & debit cards

Convenient for in-person and online purchases and widely accepted by merchants.

Account-to-account direct debit (e.g. PayTo)

A modern, faster method, direct debit allows you to authorise and manage secure, real-time digital payments directly from your bank account or PayID.

Bank@Post

You can make payments at one of Australia Post's branches. As of June 2026, there are more than 3,000 branches throughout Australia.

Digital wallets

Allowing payments by credit or debit card at point of sale using a mobile phone or other device, such as a smart watch.

MAKE SAFE PAYMENTS

Digital payments - a safe and secure alternative

The Government has made a commitment to have a modern, world-class and efficient payments system that is safe, trusted and accessible. By switching to digital payments, Australians who currently use cheques can benefit from reduced transaction fees, quicker processing times and additional identity verification measures.

Government is also working to ensure that Australians are safer from scams when using banking services. In February 2025, Parliament passed the Scams Prevention Framework Act (SPF), which will create new obligations on certain businesses to take reasonable steps to prevent, detect, disrupt, respond to and report scams on their services. The banking sector has until 31 March 2027 to comply with these new requirements.

In the meantime, banks and financial institutions will continue to deploy rigorous fraud detection and cybersecurity measures to protect your money and keep your account safe and secure. For example, when sending or receiving payments, Confirmation of Payee and PayID have been developed in recent years, offering Australians greater protection in banking and payments.

The Australian Banking Association and the Customer Owned Banking Association have implemented voluntary measures to keep your money safe under the Scam-Safe Accord, published by the sector in November 2023.

Scam support
(National Anti-Scam Centre)Identity theft support
(IDCARE)

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Confirmation of Payee

Confirmation of Payee technology means that your bank or financial institution can check the BSB and bank account number that you enter matches the recipient’s name that is held by the bank before a payment is made.

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