From 1 November, a new Account Switching Package comes into effect with banks, credit unions and building societies now offering full listing and switching services to customers.

To assist customers who want to switch, financial institutions are now obliged to provide customers with a list of all their regular direct debits and credit from the last 13 months to help them re-establish those payments on the new account.

The general obligations for ADIs under the account-switching package are contained in the new Part D of the Electronic Funds Transfer Code of Conduct (EFT Code).

Customers can also call the relevant Ombudsman or ASIC's switching hotline on 1300 300 630 for advice .

See APCA's Guide