A: You can close your G&C Mutual Bank membership at any time by contacting our Member Service team, providing a written request to us at info@gcmutual.bank or secure message via Online Banking, or visiting a Service Centre. We will also require a BSB and account number so we can refund any shares you may be entitled to or credit balance within your account.
Before you close your membership, here are some things you should consider:
- Transfer all of your funds to another bank account.
- If you have a credit card, it may take up to 31 days after your card has been cancelled before we are able to close your account.
- If the account is overdrawn or you still have money owing on any loans, you will need to deposit funds to cover the outstanding overdrawn amount and, where applicable, repay the outstanding balance of all your loans along with any applicable interest or closure fees and charges. This must be done before we can close your account.
- If you have any direct credits allocated into your account/s, you will need to promptly notify the organisation so that they can stop their payments into your account.
- For any recurring payments you have set up using your debit card number and expiry date, remember to contact the merchant or service provider directly to update your payment details.
- For any direct debits linked to your account/s using your BSB and account number, ensure you promptly update your bank account details with the service provider/s so that they can stop drawing their service fees from your closed account. Any direct debits received after your account has been closed will be dishonoured.
- If you wish to cancel any of your direct debits or recurring payments, see our direct debit FAQ for more information.
- If you require copies of statements please ensure you download them from Online Banking prior to the closure taking effect.
Once we receive a written request, we will contact you to verify the request details and complete an identification check.
