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Bank@Post

If depositing a cheque made payable in your personal name, you can deposit it into your Great Southern Bank personal account with exactly the same name at your nearest Australia Post office displaying the Bank@Post logo. You will need to present your Great Southern Bank Visa Debit card and some form of identification – e.g. your driver’s licence.

Unfortunately you will not be able to use this service to deposit a cheque made payable to a business / organisation, joint names or trust.

Depositing a Cheque drawn on a bank outside Australia.

If you choose to use our foreign cheque conversion service, you should know:

(a) We only accept foreign currency deposits in Canadian Dollars, US Dollars, Great British Pounds and Euros.

The cheque currency must also match the country of the bank it is drawn on. Eg A cheque in USD must be from a bank based in the USA.

Cheques in Canadian Dollars over the Australian Dollar equivalent of $5,000 will be processed as on collection and will attract a fee of $65, all other cheques have a fee of $15.

(b) All cheques made payable in a foreign currency will be presented to the relevant foreign bank through our processing agent Convera. If the presentation is successful, Great Southern Bank will deposit the AUD amount received from our agent into your account.

(c) Foreign cheques can take up to 8 weeks to clear due to international banking processes and must have at least 6 weeks validity when deposited. This timing is outside the control of Great Southern Bank and Convera.

(d) Cheques must have a minimum amount that converts to $20 Australia Dollars

(e) Convera will use their exchange rate at the time of payment to convert the funds into AUD.

(f) For On Collection cheques, Great Southern Bank accounts will only be credited when cleared funds are received. Great Southern Bank cannot provide any estimated timeframes and accepts no responsibility for any delays.

(g) Before processing any foreign cheque for deposit, the expiry date will be checked. Any foreign cheques that have an expiry date occurring within the next six weeks will be returned without processing.

(h) Stale cheques (cheques dated more than 6 months ago) or cheques dated past their printed expiry date cannot be accepted.

(i) Notification of a dishonoured foreign cheque will be advised by our processing agent at any time during the clearance period and can even occur after the cheque has cleared.

(j) The payee must sign (endorse) the back of the cheque.

(k) The name quoted as the payee on the cheque must be the same as the account holder in our Great Southern Bank records. A cheque endorsed to another person or business cannot be posted to us for deposit.

(l) Cheques made payable to joint names must be deposited into a joint account in the same names.

(m) Great Southern Bank will deduct a Foreign Currency Deposit fee from the AUD amount received via our processing agent. Please see our Schedule of Fees.

(n) Great Southern Bank cannot accept any foreign cheques drawn on an Australian bank.

Alternative to foreign cheque deposits

As depositing a foreign cheque can take weeks, next time consider using our inwards telegraphic transfer service.  Great Southern Bank’s inwards telegraphic transfer service (available to view here) is significantly faster (usually credited within 2 business days of funds being sent).