Direct Debit simplified
The newest enhancement to Direct Debit (DD) means you can now initiate a direct debit for your clients online, you no longer need to provide a signed request from your clients when setting up an online DD for them. However, you’ll need to retain evidence of your client’s instruction/authorisation so it can be provided to the Trustee/ Service Operator on request. When a DD is submitted for a personal contribution or an investment account, your instruction is actioned via straight through processing with no manual intervention.
How to set up?
It’s easy to set up a one-off DD online. Go to the ‘Move money’ tab, select a one-off direct debit and complete your client’s details.
You can set up a one-off DD for:
- Super accounts - personal and spouse contributions
- Investment accounts - individual and joint.
We’ll also let you know in the coming months when downsizer and CGT small business contribution types will be available.
To make sure you're getting the most out of Expand, contact your Business Development Manager or Relationship Training Manager or email advisoryrelationships@insigniafinancial.com.au.
