At Citibank, we understand changing your banking can be complicated. That's why we've put together a step-by-step guide to help make it easier for you. Here you'll find useful links, forms and letter templates to advise others of your new banking details.
When you set up a direct debit or a regular payment to or from your account there are generally two ways you might do it:
1. BSB and account number – you might authorise a third party to debit or credit your account using your BSB and account number; or
2. Card number – you might authorise a third party to debit your account using the 16-digit card number that is embossed on your credit or debit card.
These different types of payments are processed in different ways and Citibank can give you different assistance in cancelling them and switching them if you change banks.
Some types of accounts, such as Citibank’s Ready Credit, have both a BSB and account number, and also a card number. You will need to consider what number you originally provided to the third party when you come to cancel or switch your direct debits and regular payments.
Switching direct debits, direct credits and periodical payments, that use a BSB and account number, when you move to Citibank
If you're new to Citibank, simply follow the 5 steps below for an easy transfer of all your regular payments to your new Citibank account.
Contact your bank and request a copy of your "Direct Debit/Credit Arrangement List" to be sent to you. This will list all your regular credits and debits that are set up on your bank account.
Advise your employer and/or payroll department of your new Citibank account number and BSB. There may be a form your employer requires you to complete, otherwise you can use our Salary Credit Form provided.
Let Citibank help you switch your direct credits and debits Once you’ve received your list of direct debits and credits from your other bank, simply complete the switch form, and return it to the address below. Citibank will then contact the financial institution of each of your service providers, advising them of your new Citibank account details as nominated by you. Please note that this switching process does not apply to any direct debit/ credit or periodic payments initiated by credit card or visa debit card.
Citibank PO Box 3483 Sydney NSW 2000
Transfer your direct credits and debits yourself
Alternatively, you can transfer your direct credits and debits yourself using the Citibank direct debit and credit change forms as a guide. Simply complete one form for each of your credits and debits, or ask each organisation if there are specific forms you should use to change your details.
You will need to cancel regular automatic payments, for example a personal loan repayment from your old bank account and set them up with your new Citibank account. To set up new payments from your Citibank account simply log onto Citibank Online and select "Set up a standing order."
Once you have transferred your salary, regular payments and all your direct credits and debits, you should close your old account to avoid incurring fees. Your bank may accept written notice or require you to visit the local bank to officially close your old account.
Switching regular payments, that use a 16-digit card number, when you move to Citibank
You need to contact the third party directly.
Regular payment arrangements are an agreement between you (the cardholder) and the Merchant. You should keep a record of all regular payment arrangements you have established with your Merchant and store in a safe place. A template for recording your regular payment arrangements is available from the Australian Payments Clearing Association website www.apca.com.au.
You are responsible for notifying the Merchant when you want to cancel your regular payment or when your account details change, including a change in card number and/or change of card expiry date. Until you notify the Merchant, your bank is required to process transactions from the Merchant. Use this link to generate a change in account details letter to your Merchant. We recommend you keep a copy of any cancellation or change in account details letter sent to your Merchant and your earlier regular payment agreements. This correspondence will be required if your Merchant does not comply with your request in a timely manner and you decide to dispute2 any incorrectly-charged payments.
Cancelling direct debits where you have provided a third party with your BSB and account number
Please simply call us on 13 24 84 and we will place a block on your account so that the third party can no longer debit your account.
You may also want to contact the third party yourself and tell them to stop debiting your account.
Cancelling regular payments1 where you have provided a third party with your 16-digit card number
You need to contact the third party directly.
Regular payment arrangements are an agreement between you (the cardholder) and the Merchant. You should keep a record of all regular payment arrangements you have established with your Merchant and store in a safe place. A template for recording your regular payment arrangements is available from the Australian Payments Clearing Association website www.apca.com.au.
You are responsible for notifying the Merchant when you want to cancel your regular payment or when your account details change, including a change in card number and/or change of card expiry date. Until you notify the Merchant, your bank is required to process transactions from the Merchant. Use this link to generate a change in account details letter to your Merchant. We recommend you keep a copy of any cancellation or change in account details letter sent to your Merchant and your earlier regular payment agreements. This correspondence will be required if your Merchant does not comply with your request in a timely manner and you decide to dispute2 any incorrectly-charged payments.
Cancelling recurring payments where you have instructed Citibank to transfer money out of your Citibank account on regular basis
If you originally provided the instruction to Citibank electronically, you may amend or cancel the instruction at any time by logging in to Citibank Online and selecting “Set up Standing Order”.
If you originally provided the instruction to Citibank verbally or in writing, you amend or cancel the instruction at any time by calling us on 13 24 84.
Switching direct debits, direct credits and periodical payments, that use a BSB and account number, when you move from Citibank to another bank
If you are an existing Citibank customer and wish to transfer your direct debit/credit or periodical payments to another financial institution, follow the steps below:
Simply call CitiPhone on13 24 84 to request a copy of your 'Direct Debit/Credit Arrangement List', which will be sent to you via post. This will list all your regular credits and debits that are set up on your Citibank account.
Please note that your Direct/Credit Arrangement List will not include any direct debits/credits or periodical payments initiated by credit card or visa debit card.
Upon receipt of the Direct Debit/Credit Arrangement List from Citibank, you will need to contact your new financial institution who will assist you to change your direct debits and credits.
Switching regular payments, that use a 16-digit card number, when you move from Citibank to another bank
You need to contact the third party directly.
Regular payment arrangements are an agreement between you (the cardholder) and the Merchant. You should keep a record of all regular payment arrangements you have established with your Merchant and store in a safe place. A template for recording your regular payment arrangements is available from the Australian Payments Clearing Association website www.apca.com.au.
You are responsible for notifying the Merchant when you want to cancel your regular payment or when your account details change, including a change in card number and/or change of card expiry date. Until you notify the Merchant, your bank is required to process transactions from the Merchant. Use this link to generate a change in account details letter to your Merchant. We recommend you keep a copy of any cancellation or change in account details letter sent to your Merchant and your earlier regular payment agreements. This correspondence will be required if your Merchant does not comply with your request in a timely manner and you decide to dispute2 any incorrectly-charged payments.
1. What is a regular payment? Regular payments can be either a recurring payment or an instalment payment. A regular payment represents an agreement between you (the cardholder) and a Merchant in which you preauthorise the Merchant to bill your card account at predetermined intervals (e.g. monthly or quarterly) or at intervals as agreed by you. The amount may differ or be the same for each transaction.
For example, you may ask your local gymnasium to charge your monthly gym membership fee to you card each month; or you may have purchased a new television from your local appliance store and are being billed by the Merchant in subsequent multiple periods.
There are many benefits for cardholders who set up regular payments, including:
a) Ensures timely payment to the Merchant;
b) Saves you time as the payment is processed automatically; and
c) Saves you money as you do not have to pay for cheques, money transfers or postage nor will you be liable for late fees.
2. Customer’s right to dispute. Any issues with your regular payments, including failure of the Merchant to act on a change details advice, should be taken up directly with your Merchant first. If you require further assistance to resolve an issue between you and a Merchant, please contact Citibank on 13 24 84 for more infromation.
