Easier direct debits for new business applications
The latest enhancement on Expand makes it easier for you to set up a direct debit as part of a new business application. This follows the recent addition of easy to locate Electronic Fund Transfer details.
When setting up a new application online, you can choose ongoing direct debits for super accounts, or one-off direct debits as a deposit method for all new super and pension accounts. This works in the same way as the direct debit process you may be familiar with for new IDPS business applications.
Your business and your clients will benefit from a more efficient process as there is no longer a need to complete a separate Direct Debit form.
How does it work?
Direct Debit is now a deposit method, available in the ‘Deposits and Transfers’ section on the new business application. You can choose ‘Direct debit one-off’ for a one-off payment or ‘Regular Contribution Plan’ to set up a regular ongoing deposit.
Direct Debits are available for the following contribution types:
- Personal
- Spouse
- Downsizer contribution, or
- CGT small business contribution.
For more information on our latest and upcoming enhancements, contact your BDM or RTM.
