Frequently asked questions - Switching your account to us

What is switching?

The new switching legislation allows for you to authorise your new financial institution to organise the switch of your regular payments on your transaction account or cheques account on your behalf.

What is NOT included by this new switching process?

The regular payment list does not include Pay anyone, BPAY^® payments, recurring payments where you have supplied your debit or credit card number. We can help you identify these and re-establish them on your account.

Why do I have to complete multiple copies of the same form?

This is to ensure that your personal information only gets sent to the right organisation.

How can I get more forms?

You can download additional forms and from our offices.

Where do I send the forms?

You can scan the completed forms and email them to accountswitching@tmbank.com.au or send them to Reply Paid 7501, Silverwater NSW 2125.

How long does the entire process take?

The complete process takes approximately 15 days, depending on the time taken to complete and return forms.

How can I check the progress of my payment transfers?

We are able to check the status up to where your requests have been received by the financial institution (Sponsor FI) that processes the payments on behalf of the organisation. For example; if your gym utilises Westpac to process direct debits, we are only able to trace the process as far as Westpac. We are unable to identify whether the gym has received notification from Westpac.

How will I know when my details have been updated?

The organisation will confirm receipt of your new bank details directly with you.

How can I switch my debit card or credit card regular payments?

You will be able to identify your regular credit card payments on your statement. We suggest you check the past 6 months, then call us and we can help you.

Is my personal information safe?

We have taken part in the development and testing of the APCA mail box and conducted our own rigorous security testing to ensure that our member’s details are safe.