BRISBANE, Australia — Around 1.2 million Suncorp Bank customers will have their accounts and banking products transferred to ANZ as the two banks move towards completing their integration by June 2027.
Suncorp Bank has begun contacting customers about the transition, which follows ANZ’s $4.9 billion acquisition of the Queensland-based bank in July 2024.
The Suncorp Bank name will eventually be retired, with customers moving to ANZ’s banking systems, services and digital platforms.
• Suncorp Bank accounts and products will move to ANZ in 2027.
• The integration is expected to be completed by June 2027.
• Customers cannot delay or opt out of the planned transfer.
• No immediate action is required.
• Individual instructions will be sent before accounts are moved.
When will Suncorp Bank customers move to ANZ?
ANZ says customers will be transferred during a planned migration period, with the broader integration scheduled for completion by June 2027.
The process has started with letters and other official communications explaining what customers can expect. More detailed instructions are expected in early 2027, before accounts and products are transferred.
Customers do not need to make any immediate changes. Suncorp Bank has advised people to continue using their existing accounts, cards, mobile app and internet banking until they receive specific instructions.
According to the official Suncorp Bank Move Hub, customers will not be able to choose when their accounts are moved or opt out of the transfer.
Those who do not want to become ANZ customers would need to independently compare other banks and decide whether to move their banking elsewhere.
ANZ has not yet published every product-specific change. Customers will be notified if account terms, features, fees, payment details or banking access arrangements are affected.
Why is Suncorp Bank becoming ANZ?
ANZ completed its acquisition of Suncorp Bank from Suncorp Group on July 31, 2024, after the transaction received regulatory and government approval.
The purchase gives ANZ a substantially larger presence in Queensland and strengthens its position in Australia’s home-loan market.
ANZ Managing Director Queensland and Suncorp Bank CEO Bruce Rush said customers would receive regular guidance throughout the transition.
“We are committed to making this move straightforward, safe and well-supported,” Rush said in an ANZ announcement.
ANZ says former Suncorp Bank customers will eventually gain access to its wider branch network, banking specialists, digital services and anti-fraud technology.
The bank has also committed to maintaining ANZ and Suncorp Bank regional branch numbers for three years after the acquisition, alongside a commitment to no net job losses among Suncorp Bank employees in Australia directly resulting from the takeover during that period.
The banking change arrives as Australian households continue to scrutinise mortgages, savings and retirement income. A separate proposal seeking to redirect part of compulsory retirement contributions into take-home pay has also attracted attention; read more about Pauline Hanson’s proposed 3% superannuation pay boost.
Customers should also be alert to scams exploiting the migration. Suncorp Bank and ANZ say they will never ask customers to urgently transfer money, disclose passwords or PINs, or provide access to their phones or computers.
Anyone receiving a suspicious message about the transfer should avoid clicking its links and contact Suncorp Bank through its official app, website, branch network or published customer-service number.
This report is based on official information released by ANZ and Suncorp Bank. It will be updated as further account migration details are announced.
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