With the decline in cheque usage in Australia, the Federal Government has announced that issuing cheques will be phased out of the Australian banking system by 2028.
Following the announcement, financial institutions have already started taking steps to discontinue cheque services.
In preparation for the discontinuation of cheque services, The Lott’s prize payment process has changed and cheques have been discontinued as a method of prize payment.
If you've registered to receive prize winnings by cheque, or have not selected any prize payment method, you're encouraged to update your membership so you can receive prizes paid directly into your bank account.
You can ask a retailer how to add your bank details in-store. If you have an online account, you can easily update your bank details by logging into your account here and following these steps:
- Login to your account and select "My account"
- Select "Prizes"
- Select “Into my bank account" and add your account details as required and select "Save".
- Your bank details will now be saved to your account.
Benefits of providing your bank details
- No cheque fees – previously $4.00 for every cheque processed
- No more banking cheques
- Faster prize payments
- More secure prize payments
You may have received an email from The Lott informing you about the removal of cheques for prize payments and requesting you to add your bank details to your online account. For extra security, you can login directly via "My account" or head to your local retailer who can provide you an SMS link direct to your phone to update your information.
We'll never call any customer to ask for bank details over the phone. Please do not share your personal details or bank account information to anyone over the phone.
Keeping your information safe is our priority. Click here for more information on our range of security features and services to help protect you and your personal information with The Lott.
If you also play online
If you don’t add your bank details, any future prizes will be automatically paid into your online account. Prizes will be paid:
- Four weeks after the draw in Queensland, Victoria, Tasmania, South Australia, and the Northern Territory.
- Eight weeks after the draw for prizes below $1,000 or above $10,000, and after two weeks for prizes between $1,000 and $10,000 in New South Wales.
If you only play in-store
If you don’t wish to provide your bank account details, prizes on entries purchased in-store can be claimed in-store up until the end of the prize claim period in your state. If you have a registered online account, you also have the option of having your in-store prizes paid into your online player account.
Alternatively, you can be paid via Electronic Funds Transfer in person at our Head Office or by post using a Prize Claim Form. Prize Claim Forms are available at your local retailer and online at thelott.com.
If you have an old cheque that your bank will no longer accept, call our Contact Centre on 131 868.