Trying to cancel Bank Australia? Avoid the runaround.
Can you cancel your Bank Australia subscription? Check eligibility and conditions
- Transaction & savings accounts: Can be closed anytime by phone (132 888) or in branch. Joint accounts require approval from all parties.
- Credit cards: Must be fully paid off first. Cancel anytime by calling customer service. Stop recurring payments before closure.
- Loans: Personal and car loans can be repaid early without penalty. Variable-rate home loans have no exit fees. Fixed-rate home loans may have break costs.
- Term deposits:
- 14-day grace period after opening or renewal → cancel/change with no penalty.
- After grace period → need 31 days’ notice; early withdrawal incurs admin fee + reduced interest.
- 14-day grace period after opening or renewal → cancel/change with no penalty.
- Subscriptions/services: No paid subscriptions. Insurance policies (via partners) follow insurer’s own cancellation rules.
👉 Everyday accounts and loans are simple to cancel. Term deposits require careful timing.
How to cancel a Bank Australia subscription, service or order
- Everyday accounts: Call 132 888 or visit a branch. Funds are withdrawn and account closed on the spot.
- Joint accounts: Both parties must authorise. Each can call, visit, or send a secure message separately.
- Credit cards: Pay off balance, stop recurring payments, then call to cancel. Cut up the physical card.
- Loans: Request a payout figure, transfer the full balance, and the account closes. Refinancing? Your new lender will coordinate the discharge.
- Term deposits:
- Within 14 days of opening/renewal: call to cancel or change without penalty.
- After 14 days: give 31 days’ notice for early closure; penalties apply.
- At maturity: set instructions in online banking (“close at maturity” or “rollover”).
- Within 14 days of opening/renewal: call to cancel or change without penalty.
- Insurance: Contact the insurer directly (details in policy docs).
👉 Always request written/email confirmation of closure.
How long does a Bank Australia cancellation take?
- Accounts: Closed immediately upon request.
- Credit cards: Same-day once balance is cleared.
- Loans: Closed once the final payment clears. Mortgage discharges can take 10+ business days, so lodge forms early.
- Term deposits:
- Grace period: act within 14 days of opening/renewal.
- Early withdrawal: funds released 31 days after notice is given.
- Grace period: act within 14 days of opening/renewal.
- Direct debits: Cancel with merchants before account closure to avoid failed payments.
Bank Australia cancellation fees and final charges – what to expect
- Accounts: No closure fees.
- Credit cards: No closure fees. Annual fees already paid are rarely refunded. Ask anyway.
- Personal & car loans: $0 early repayment fees. No exit charges.
- Home loans: Variable-rate → no exit penalty. Fixed-rate → break costs may apply. Small discharge fee possible.
- Term deposits: Early withdrawal incurs:
- Admin fee.
- Reduced or forfeited interest (pro-rated based on time held).
- Admin fee.
- Insurance: May involve pro-rata refunds minus insurer’s cancellation fee.
Bank Australia cases submitted through Ajust
I reported my lost card straight away, but somehow a $90 charge still went through the next day. It’s stressful knowing I did everything right and the transaction still slipped through. I just wanted Bank Australia to take it seriously and resolve it quickly. - Dana
I was scammed buying tickets online, and $329 vanished from my account. I shared all the proof and still had to wait weeks for answers. It’s so frustrating when you’ve been tricked and the refund process feels just as painful. - Liam
Two suspicious transactions hit my card, and even after cancelling it within hours, one refund was processed but not the other. I kept following up but no one called back. It’s exhausting having to chase a bank to fix their own error. - Mark
I’ve been a loyal customer for years, but my home loan rate stayed higher than what new customers get. It’s disheartening to feel like loyalty counts for nothing, especially when every dollar matters right now. - Thomas
Consumer experiences with Bank Australia cancellations
Smooth closures: Many report account and loan closures to be quick and hassle-free.
Unexpected account closures: Some customers had accounts shut by the bank due to “ethical banking” policies, with little explanation. Refunds of balances were still issued.
Joint account freeze: A customer’s joint account froze for 5 weeks due to missing documents, locking $14k. It served as a reminder to keep compliance details up to date.
Bank Australia Cancellation FAQs
Can I cancel my Bank Australia account or credit card anytime?
Yes, you can close transaction and savings accounts anytime by phone or in branch. Credit cards can be cancelled once the balance is fully paid. Always stop recurring payments first to prevent declined charges, and request written confirmation of closure to ensure the process is complete.
What happens if I cancel a Bank Australia term deposit early?
You can cancel or change a term deposit within 14 days of opening or renewal without penalty. After that, you’ll need to give 31 days’ notice, and an admin fee plus reduced interest will apply. Acting within the grace period avoids financial loss and keeps your savings flexible.
How long does it take to cancel a Bank Australia product?
Everyday accounts and credit cards close the same day once conditions are met. Loans close when final payments clear, while mortgage discharges can take 10 or more business days. Term deposits release funds after the notice period ends, so plan ahead to avoid delays.
Are there fees for cancelling Bank Australia products?
Most accounts and loans have no closure or exit fees. Fixed-rate home loans may incur break costs, and term deposits closed early attract admin and interest penalties. Always confirm any final charges before submitting your closure request to avoid surprises.
Tried to cancel but Bank Australia made it difficult?
We’ll help you submit a formal cancellation they can’t ignore.