Account switching

When transferring your everyday banking to Nexus Mutual, you may need to re-establish your regular debits and credits and/or regular payment arrangements that you have set up. To make this as streamlined as possible you can do this in two ways:

  1. Use our simple Switch form to switch all of your regular credits and debits to your Nexus Mutual account. Nexus Mutual will contact your previous financial institution on your behalf to get a list of all your regular direct debits and/or credits and arrange for the relevant organisation to be provided with your new account details.
  2. Doing it yourself - use our account switching letter templates below which will enable you to generate all the letters you need to notify interested parties of your switch to Nexus Mutual.

Using our account switching letter templates is easy! All you need is:

  • Your name, address and contact number
  • Your new member/account or card number
  • Your old account details, which could be either a:
    • BSB and account number; or
    • Credit or debit card number
    • Comprehensive list of all your automatic transfers and regular payment details (such as your salary, telephone bill, electricity bill, insurance payment etc.)

Use these details to generate your letters for sending to companies informing them of your change of account details.

Switching direct credits
Switching direct debits
Switching regular card payments

Nexus Mutual also provides a template to enable you to record details of any regular payments that you set up on your Visa card.

Read more about Regular Payment Arrangements
Download our Regular Payment Arrangement Template

Nexus Mutual recommends that you do not provide your Visa card number to suppliers for charging amounts to your account, as the card number and/ or expiry date can change if the card is lost, stolen or replaced. A better option is to set up a direct debit by providing your supplier with Nexus Mutual’s BSB number (802-254) and your account number.