If you have a home loan with Suncorp Bank, it is about to become an ANZ loan. ANZ bought Suncorp Bank in July 2024, and on 7 September 2026 Suncorp Bank announced that customers will move to ANZ's products and platforms by June 2027. You can't opt out, and you can't pick your date.
For many borrowers, not much will change. Suncorp Bank's chief executive told the ABC that most customers would see no change to their repayments. But if you've paid ahead on your loan, or you keep money across more than one offset account, there are things worth checking now rather than after the move.
Information checked on 3 November 2026. Policies and lender participation may change. Confirm your own loan details directly with Suncorp Bank or ANZ before you act.
What is happening, and when
| When | What happens |
|---|---|
| July 2024 | ANZ completes its purchase of Suncorp Bank |
| 7 September 2026 | Suncorp Bank announces customers will move to ANZ by June 2027 |
| 7 October 2026 | Suncorp Bank closes to new home loan applications |
| 13 October 2026 | Suncorp emails borrowers with early information about repayments |
| End 2026 to early 2027 | Letters explain how the move works and what you need to do |
| First half of 2027 | Suncorp Bank home loans become ANZ loans |
Those last two dates come from ANZ's own page on the move. Your accounts will move during a planned period, so you won't get to choose the day. Suncorp Bank says it will contact you by letter, email, text message or through its app and Internet Banking, and it keeps updates on its Move Hub.
Will your minimum repayment go up?
This is the change getting the most attention. According to the ABC's report, Suncorp's 13 October email said a customer's minimum repayment at ANZ "is likely to increase" if they have funds available in a cashback or redraw facility, and that the increase "could be significant depending on the loan balance".
The reason is how each bank works out your minimum. Suncorp has let customers with redraw and cashback facilities reduce their minimum repayment. ANZ doesn't offer this, so a borrower who is ahead on their loan and takes no action may see the required amount rise.
Suncorp told the ABC that customers could avoid any increase. The steps are in the email it sent you, so read it closely. You can also use the Estimated Home Loan Repayment Calculator on the Move Hub to see how your minimum may change. If a higher repayment would be hard to meet, call Suncorp Bank early on 13 11 75. It says hardship assistance is not affected by the move.
What happens to offset accounts
If you split your savings across offset sub-accounts, this one matters. Savings.com.au reports that customers using an Everyday Options account in offset mode will move to a single account called ANZ One Offset. Linked sub-accounts will become ANZ Access Advantage transaction accounts, which no longer offset your home loan balance when interest is calculated.
Suncorp suggests moving money from offset-linked sub-accounts into your main account before the move, so you keep the full offset benefit. If you use separate buckets for tax, bills or holidays, plan how you'll track them once they sit in one account.
Five things to do before the move
- Read every email and letter. Changes depend on your loan type and the features you use. Suncorp Bank may need to vary your product to match a similar ANZ product, so terms could differ from what you first applied for.
- Check your estimated repayment. Use the calculator on the Move Hub and test the result against your budget.
- Move money out of offset sub-accounts if you want it to keep reducing your interest, and if your letter confirms this applies to you.
- Update your contact details in the Suncorp Bank App or Internet Banking, so you don't miss anything.
- Check your interest rate. A big change like this is a good moment to ask whether your rate still suits you. Our home loan calculators can help you run the numbers.
Do you have to refinance?
No. Your loan moves across as part of the transfer, and you don't have to change lenders because of it. Suncorp Bank says it can't be delayed, but you can choose to move your banking somewhere else if the new setup doesn't suit you.
Refinancing only makes sense if the numbers work. ASIC's Moneysmart guide to switching home loans lists the costs to check: break fees on fixed-rate loans, discharge fees, application fees, and lenders mortgage insurance if you have less than 20% equity. Its mortgage switching calculator shows how long it would take to recover those costs.
Staying with ANZ may well be the right answer for you. If you want to compare, our Sydney refinance team can look at your loan against a wide lender panel, and tell you if it's better to stay put. Some borrowers also weigh up cashback refinance offers, or look at consolidating other debts if a higher repayment would strain their budget. Conditions apply, and approval is never guaranteed.
Watch out for scams
Big bank changes attract scammers. Suncorp Bank says neither it nor ANZ will ever ask you to:
- move money urgently to an account you don't already control, or to "keep it safe"
- share your passwords or PINs, or give access to your devices
- click a link in an email or SMS about the move, including a link to log in
If something feels off, don't click. Open the app yourself, or call Suncorp Bank on 13 11 75 using the number on its website.
Frequently Asked Questions
Sources
- Suncorp Bank: customer move to ANZ announcement, 7 September 2026
- Suncorp Bank Move Hub
- ANZ: Suncorp Bank move to ANZ
- ABC News, 19 October 2026
- Savings.com.au, 26 October 2026
- Broker News: Suncorp no longer accepting mortgage applications
- ASIC Moneysmart: switching home loans
This information is general in nature. Policies vary by lender and change frequently. Confirm current requirements with your chosen provider and seek professional advice. Confirm the details of your own loan directly with Suncorp Bank or ANZ before applying or making changes.