As Nauru moves towards a change in a banking service provider, the Nauru Government encourages the general public including state owned entities (SOEs) to take the necessary steps as soon as possible to set up new bank accounts with the new provider, the Commonwealth Bank of Australia (CBA).
The urgency in opening new accounts is important for the smooth transition of salaries and other payments made by the government and SOEs to you. This will also ensure that government and SOE officers responsible for these matters have everyone’s accounts in order before the final exit of Bendigo Bank Agency (BEN) and commencement of CBA services.
The government seeks public support to make the early transition to CBA accounts as smooth and effective as possible, and without delay, by:
– Deciding to open a new CBA account (for yourself, your children, your business)
– Doing this as soon as possible during April, so that the allocation of new accounts for all Nauruans by CBA will not be delayed beyond May 2025;
– New CBA accounts allocated in May 2025 with debit cards and e-banking to commence in June, and BEN accounts to close;
– Advise the HR section of your workplace about your new banking details to avoid any delays in payroll and other payments/royalties/rent to your new account.
As many will realise, Bendigo Bank is in the process of ceasing its relationship with the Nauru Government through the Nauru Banking Agency, after 10 years.
BEN made the decision in December 2022 due to a change of direction away from Agency outlets in Australia and elsewhere, and towards the simplification of its various businesses.
From 17 March expressions of interest have been received from Nauru applicants for a CBA account/s, made directly to CBA by the online submission of a CBA e-form and, in response, an email will have been received requiring that applicants to then go to the Civic Centre Agency and re-introduce themselves with a suitable ID. How to open a CBA account here, https://www.commbank.com.au/banking/nauru.html .
