Changes to paper signed requests

With fraud becoming more sophisticated, we’re continuing to invest in the latest technology to provide a safe and secure banking environment for you and your clients.

From 1 March 2023, we stopped accepting paper signed requests for withdrawal amounts under $100,000. Now, you and your clients can make these withdrawals online.

This excludes cheque payments which will continue to be processed until November 2024.

We're making changes to our cash and cheque services. Learn more about Adviser cheque and cash changes.

Why did you make this change?

Our online functionality is a safer, more secure and efficient way for you and your clients to process and receive withdrawals.  

If you currently make transactions online, you can continue to make payments via our Adviser Initiated Payment (AIP) functionality on Adviser Online. This change will not impact you.

Alternatives to paper signed requests

You can initiate Adviser Initiated Payments (AIP) for up to $500,000 per transaction on Adviser Online. AIP is a service, which allows advisers to make payments on behalf of their clients from their cash account. It is a faster and more secure way to make payments.  

Your client can authorise payments via SMS verification.

Amend existing recurring payments

You can’t amend a recurring payment through our AIP functionality on Adviser Online. If you need to change the details of a payment, you’ll need to cancel the payment entirely and create a new one. 

Your client will need to authorise the new recurring payment. You can delete a recurring payment on your client’s behalf without an authorisation code, as long as you delete it before  the day the payment is due.

Maintain payees and biller information

There are two features on Adviser Online that make it easier for advisers to maintain and review their client’s payees and biller information.

The ‘Payments’ tab

In Adviser Online, the Payments tab has been added to cash accounts. It allows you and your support staff to add or remove ‘Payees and Billers’ for cash transactions and review upcoming ‘Scheduled Payments’. You can add and delete payees and billers from this screen.

Note: Payees and billers maintained in Adviser Online will be distinct from any payees or billers created by your clients through online banking. Payees and billers in Adviser Online are saved at the account level so you can see any payees and billers associated with the account.
 

‘Make a Payment’ flow

As an anti-fraud measure, an icon will appear next to any payee or biller being transferred to for the first time in Adviser Online.

Once the payment is initiated, a disclaimer on the ‘Manage Payments’ screen will indicate if the recipient is a new payee.

Following approval, the icon won’t appear in any following payments made to the payee or biller.
 

What do I do if my client can't transact online?

We remain committed to ensuring that our digital products and services remain accessible. If your client cannot use online banking for accessibility reasons, please get in touch via live chat on Adviser Online to discuss your options.

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