By following the simple steps below, you can take the fuss out of moving to a better and safer option.

Choose an SGE account that suits you. To open the account you can:

Step 2–Obtain your Debit & Credit Listing

The list only contains transactions that are processed using a BSB and Account Number. Any transactions that are conducted using a 16-digit card number eg Visa Debit Card, are not included on the list of Debits & Credits.

If you use Internet Banking with your old institution, log into your internet banking, and print out a list of your “Personal Payees”.

If you use a visa card, refer to your statements to identify any recurring payments, if these are to be changed to SGE.

Step 3–Identify the Debits & Credits that you need to redirect

The list of Direct Debits & Credits that you have obtained from your old financial institution is broken into 2 sections – Debits & Credits.

The list will specify information that will help enable you to identify who you will need to notify of your account change.

The list will contain the name of each company, the date of last debit or credit, the lodgement reference number, and the amount of the transaction.

Using the Credit Listing, identify any regular credits to your account who will need to be notified of the change of your account(s) details.

Your transaction partners may include: salary from your employer, government payments, rental payments or share dividends.

Complete the Direct Credit Form with the details of the company you are notifying, your lodgement reference number, and your new SGE account details.

The form will then need to be printed, signed and sent to the relevant company.

Download the direct credit form.

Tip: It is a good idea to look through your old bank account statements as well as any bills to identify any regular payments you have been making.

Step 5 – Identify and update your direct debit payments

Using the Debit Listing, identify any regular debits against your account who will need to be notified of the change of your account(s) details.

Your transaction partners may include: energy provider, insurance provider, gym memberships and telephone provider.

Complete the Direct Debit Form with the details of the company you are notifying, your lodgement reference number, and your new SGE account details.

The form will then need to be printed, and sent to the relevant company.

Download the direct debit form.

Tip: It is a good idea to look through your old bank account statements as well as any bills to identify any regular payments you have been making.

If you have any direct debits or recurring payments made from a visa card, these do not appear on the list of your direct debits.

You will need to check your old statements to identify these direct debits.

Regular payments are standing instructions given to your financial institution to debit your account on a nominated date and to send the funds to another account.

Your regular payments could include: rent payments to a real estate office, transfer to savings account(s) or credit card payment.

You can set-up any regular payments on your new account. You can do this yourself at SGE Internet Banking or come into a Service Centre and we would be happy to help you set them up.

• Select the “Transfer” tab for the type of transfer to be completed. eg Bpay, External Transfer.
• Nominate the account for the funds to be deducted from.
• Enter the details of the destination account.
• Enter the amount to be paid.
• Press the “Pay Later” button.
• Enter the for either a “Single” or “Regular” periodic payment.
• Press “OK” to accept these payment details.

Once loaded, a periodic payment will be visible from the “Future Payments” tab within your Internet Banking. You will be able to make changes to any future payments from this screen.

Personal Payees are account details of either individuals or companies, that you create as shortcuts, so that you do not have to enter their account details each time you wish to make a payment to them.

Personal Payees can be setup for Bpay payments, external transfers to another institution or to another SGE account or membership.

To set-up a Personal Payee on your membership, log into SGE’s Internet Banking, follow the steps below;

• Select the “Personal Payee” tab in the menu bar.
• Click on the button for the relevant type of payee.
• Enter the required details eg Biller Code & Reference Number.
• Press the “Update” button to save the Personal Payee.

Once loaded, a personal payee will be visible from the “Personal Payee” tab within your Internet Banking. You will be able to make changes to any future payments from this screen.

When you are finished changing and updating your direct credits, debits and regular payments to your new SGE account you are then able to close your old account.

Please ensure you have sufficient funds in both your old and new accounts to cover any outstanding payments, as it might take a while for your instructions to be changed.

It does take time for your regular payments to transfer over to your SGE new account so please be patient.

Switching over your Home Loan:

Most people think it is or will be too hard to refinance your home loan but the reality is it isn’t. A switch to SGE may save you in interest and other ongoing fees. Speak to one of our customer service consultants today.