Trying to cancel Bendigo Bank? Avoid the runaround.
Can you cancel your Bendigo Bank subscription? Check eligibility and conditions
Bendigo Bank gives consumers and businesses the flexibility to cancel or close most banking services at any time, with few restrictions.
- Transaction/Savings Accounts: Can be closed anytime. Ensure there are no pending payments or overdrafts.
- Credit Cards: Cancellable anytime once the balance is cleared. Watch for annual fee timing and rewards forfeiture.
- Loans (Personal/Home): Can be paid out early, but fixed-rate loans may attract break costs. Home loans require discharge paperwork.
- Term Deposits: Can be closed early with 31 days’ notice, but reduced interest will apply.
- Business Accounts: Generally cancellable with notice; merchant facilities may require 30-day notice periods.
- Linked Products: Closing one service (like a loan) may affect linked accounts (like offset or debit cards).
You can cancel most Bendigo Bank services at will, just ensure outstanding debts are cleared and follow identification protocols.
How to cancel a Bendigo Bank subscription, service or order
Here’s how to cancel common Bendigo Bank products:
1. Bank Accounts
- Clear pending cheques/direct debits.
- Visit a branch or call 1300 236 344.
- Provide ID and settlement instructions for remaining funds.
- Surrender debit cards and chequebooks.
2. Credit Cards
- Pay off the full balance and request a final payout figure.
- Redeem any rewards before cancelling.
- Call customer service or visit a branch (no online closure).
- Destroy the card after confirmation.
3. Loans
- Request a payout figure.
- Submit a Discharge Authority form (for home loans).
- Coordinate settlement or transfer of funds.
- Receive final confirmation once loan is closed.
4. Insurance/Other Services
- Contact the insurer or service provider listed in your product documents.
- Request written confirmation of closure and any refund due.
5. Remote Closures
- Use the Account Closure Request Form (PDF) for closures by mail/email if not near a branch.
Pro tip: Always ask for written confirmation and a final statement showing zero balance.
How long does a Bendigo Bank cancellation take?
Smart timing makes for smooth exits:
- Credit Cards: Cancel before the next annual fee hits. If just charged, ask for a refund within ~30 days.
- Monthly Fee Accounts: Cancel before the next cycle to avoid fees.
- Term Deposits: Close at maturity to avoid interest loss. If early, 31 days' notice is required.
- Loans: Allow at least 10 business days for home loan discharge paperwork.
- Direct Debits: Cancel any recurring payments before closing accounts/cards to avoid failed transactions.
- Savings Interest: Close right after interest is paid (usually end of month) to avoid losing accrued interest.
- Processing Time: In-branch closures = same day. Mail-in forms = 3–5 business days.
By timing it right, you avoid fees and disruptions. Plan ahead and confirm closure has been processed.
Bendigo Bank cancellation fees and final charges – what to expect
Bendigo doesn’t typically charge a cancellation fee, but be aware of these:
- No Account Closure Fee: Personal and business accounts can be closed for free.
- Credit Cards: No cancellation fee, but annual fee refunds may depend on timing.
- Loan Payouts:
- Variable rate: Usually no fees.
- Fixed rate: Possible break costs based on rate movements.
- Discharge fees: Check loan docs. Some legacy fees may apply.
- Variable rate: Usually no fees.
- Term Deposits: Early closure = reduced interest. Must give 31 days’ notice unless hardship.
- Bank Cheque Request: A small fee (~$10) applies if you request your balance this way.
- “Hidden” Charges: Some customers reported surprise fees (e.g. in-branch withdrawal fees). Always review your product’s T&Cs.
The main costs? Missed timing, break costs, or service fees that weren’t fully cleared pre-closure. Ask Bendigo upfront to avoid surprises.
Bendigo Bank cases submitted through Ajust
Bendigo Bank closed my personal account without warning-just because I made payments to solicitors to address fraud in my family. I’ve banked there for years and this felt completely unjustified. I still haven’t received a proper explanation, just a shutdown that left me scrambling. - Phillip
I had a significant deposit scheduled when I got a notice saying my account would be closed. I called my branch right away and explained everything, but it made no difference. They still planned to shut it down. - Stacey
I couldn’t access my account and Bendigo gave no clear reason. It completely halted my day-I couldn’t pay bills or do anything. If I can’t get to my own money, what’s the point of banking with them? - Tyrell
Consumer experiences with Bendigo Bank cancellations
“Friendly and Easy Account Closure”: A customer praised in-branch staff for fast and helpful service. Their closure was completed on the spot with funds transferred.
“Hidden Fees Surprise”: One user found unexpected fees (e.g. paper statement fees) on their final account statement. (Tip: Always review your fee schedule and ask what applies at closure.)
“Long-Time Customer Parting Ways”: A Customer moving overseas appreciated how smoothly Bendigo handled the account closure and international funds transfer.
Bendigo Bank Cancellation FAQs
Can I cancel my Bendigo Bank account or service anytime?
Yes, most Bendigo Bank services can be cancelled anytime once your balance is cleared. Transaction accounts, credit cards, and business accounts are all eligible for closure without penalty, but some services like term deposits and fixed-rate loans have specific conditions. Check for any linked accounts, pending payments, or break costs before acting to avoid surprises.
What’s the best way to cancel a Bendigo Bank credit card or loan?
Pay off your balance first, then contact Bendigo Bank directly-closure must be done by phone or in person. For credit cards, redeem any rewards and destroy the card after confirmation. For loans, request a payout figure and submit discharge paperwork if needed. Written confirmation of account closure is crucial-always request it to protect your record.
Will I be charged any fees when cancelling my Bendigo Bank product?
Most cancellations are free, but early closures can trigger interest loss or discharge fees. There’s no standard account closure fee, but fixed-rate loans may include break costs and term deposits lose interest if closed early. Unexpected fees (like in-branch withdrawals or cheque issuance) can apply, so review your product terms before cancelling.
How long does it take to cancel a Bendigo Bank service?
In-branch cancellations are often same-day; remote forms take 3–5 business days. Plan timing to avoid monthly or annual fees, and give at least 10 business days for home loan discharges. Closing accounts just after interest is paid or before fees hit can save you money-smart timing avoids financial penalties.
Tried to cancel but Bendigo Bank made it difficult?
We’ll help you submit a formal cancellation they can’t ignore.