Switch to Catalyst Mutual

Switching to Catalyst Mutual is easy. Simply follow the steps below to easily transfer all your regular payments to your new Catalyst account.

1. Deposit your salary

To start having your salary deposited into your Catalyst Mutual account, you will need to advise your employer and/or payroll department of Catalyst Mutual BSB (802 396) and your account number. There may be a form your employer requires you to complete, otherwise you can complete our Payroll Deposit Form and send it to your employer.

You can also split your salary payments between your Catalyst accounts and/or loans. This can be arranged by dropping into a branch to fill in a Payroll Deduction Form, by calling 1300 864 266, or by sending our Member Services department a Secure Message via our Internet Banking website.

2. Identify your regular payments to and from your old account

You can request a list of the regular payments to and from your old account from your previous financial institution, or you can check your statements. We recommend you check 13 months of statements to make sure you capture any annual payments.

You can use our Regular Payments Template to keep track of your payments.

Examples of regular payments include:

• Organisations paying money into your account, such as your salary, pension or other income.
• Payments going out of your account for things such as loan repayments, school fees etc.
• Any transfers to other people's accounts made on a regular basis.

If you have any cards attached to your old account, you will need to identify any regular payments from these cards as well. These can also be recorded on our Regular Payments Template.

3. Re-establish your payments on your new account

You now need to contact each of the organisations who make payments into your account or to whom you make payments and advise them of your new account details.

We can do it for you!

Simply fill in our Account Switching Form and we will contact the financial institution of each organisation and provide them with your new account details.

If you would like to do this yourself, you will need to fill in a Direct Credit Form or Direct Debit Form for each organisation and send it to them. The Direct Credit Form is used for payments you receive into your account. The Direct Debit Form is used for regular payments you make from your account.

If you have a Visa Card connected to your new Credit Union account, you can switch regular payments from your old card by sending our Change of Credit Card Details-Visa form to each merchant.

If you use internet banking to make regular payments into other people's accounts, these can be set up via the Pay Anyone function on our internet banking site.

4. Close your old account

Once you are sure all your regular payment arrangements have been successfully established on your new Credit Union account, you can close your old account.

Ensure you have obtained all your account information before closing your old account as once it is closed you will be unable to access information about your regular payments, Pay Anyone account details etc.

You can use our Account Closure Request form for this purpose.

Switching from Catalyst Mutual

If you are an existing Catalyst member and wish to transfer your regular payments to another financial institution, phone us on 1300 864 266 to request a list of your regular payments.

Once you receive this list, you will need to contact your new financial institution for assistance with changing your direct debits and credits.

Please note that this list will not include any direct debits or credits linked to your Visa card. These can be changed using the Change of Credit Card Details Form.