With the decline in cheque usage in Australia, the Federal Government has announced that cheques will be phased out by September 2029.
Following the announcement, financial institutions have already started taking steps to discontinue cheque services. This is already impacting some of our customers as their banks won’t accept cheques.
In preparation for the discontinuation of cheque services, The Lott’s prize payment process will be changing.
From mid-2025, we will no longer issue cheques for prizes registered to memberships card which haven’t been claimed in-store within eight weeks from the draw date.
Customers who have registered to receive prize winnings by cheque, or have not selected any prize payment method, are encouraged to update their membership to their bank details so they can receive prizes paid directly into their bank account.
Customers can ask their retailer how to add their bank details in-store, and customers with an online account can update their membership with bank details here.
If customers do not add their bank account details to their membership, they will still be able to claim prizes (up to a certain amount in line with existing thresholds) in-store until the end of the prize claim period.
For more information about cheque removal click here.