Transition of RACQ's banking services
RACQ is selling its retail lending and deposit business to Bendigo Bank (subject to obtaining regulatory approvals). As part of the transition, RACQ Bank products and accounts will move to equivalent Bendigo Bank products.
Between July and mid-August, members will receive letters or emails from RACQ Bank with detailed information about their future Bendigo Bank products. These communications may arrive on different days and form part of a staged process to help members understand what is changing and what they need to do next.
To help ensure you have a smooth transition to Bendigo Bank, RACQ will be sharing necessary personal details with Bendigo Bank solely for the purpose of enabling your new accounts to be ready for you. Any data sharing will be supported by strict controls and strong security.
For now, your RACQ Bank accounts, cards, internet banking access and support arrangements remain unchanged.
Important: Please read the information you receive carefully, including the relevant Bendigo Bank Changes Booklets, as they contain important details about your future products, fees, account access and payment arrangements.
What you need to do now
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Check your contact detailsMake sure your postal address, residential address, email and mobile number are up to date so you receive important transition communications.
You can update your details by visiting an RACQ store, logging in to RACQ Bank internet banking, or calling 1800 637 013.
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Read your letters and emails carefullyFrom July to mid-August, you may receive more than one letter or email. Each communication contains important information about your RACQ Bank products and the equivalent Bendigo Bank products they will move to. -
Review the relevant Bendigo Bank Change BookletsThe Bendigo Bank Changes Booklets explain the terms, conditions, fees, charges, interest arrangements and account access details that will apply to your future Bendigo Bank products. -
Watch for future information from Bendigo BankCloser to the transition, Bendigo Bank will contact RACQ Bank members directly with new banking details, including new account details, e-banking and replacement cards where applicable. -
Stay scam awareRACQ Bank and Bendigo Bank will never ask you to share your PIN, password, passcodes or one-time passcodes. We will never ask you to transfer money to a “safe account”, “new account”, “holding account” or any unknown account.
If you are unsure whether a message is legitimate, do not use the phone number or link in that message. Contact RACQ Bank using official contact details.
Date sent Communication PDF 24 July 2026 Notice of upcoming changes to your accounts Download 17 June 2026 Notice of upcoming changes to RACQ Bank
Download 1 May 2026 RACQ Bank member notice Download 24 March 2026 SMS update (select members) N/A 24 March 2026 Email update (select members) N/A 4 December 2025 Bank transaction announcement Download Stay alert to scams and use only official RACQ Bank or Bendigo Bank contact details.
FAQs
Things to note
Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.
Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
RACQ Bank subscribes to the Customer Owned Banking Code of Practice which establishes higher standards than the law requires. The Code reflects modern consumer expectations and developments in approaches to issues such as consumer vulnerability, guarantors, and supporting customers through financial hardship. Please read our Customer Owned Banking Code of Practice page for more information.
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