Making payments 16 December 2015 With easy and convenient ways to make and manage your payments, you can stay in control of your business finances. TRANSFERS PAYMENTS APPROVALS LIMITS & SECURITY PAYEES & BPAY BILLERS PAYEE GROUPS Move money between your accounts Choose Transfer funds from the Payments menu to move money between your own accounts. Transfers you have already made can be found in the Payments list from the Payments menu. 1
Making payments To pay people, bills, send money overseas or order a bank cheque, select the Make a payment button from the Overview screen, or choose Make a payment from the Payments menu. Successful payments you ve already made can be found in the Payments list in the Payments menu. Find Make a payment in the Payments menu. 1 Select the Make a payment button on the Overview screen. To pay an existing payee: 1. Select the payment method tab. 2. Select the payee from the drop down list, or type the name to filter the search. To pay a new payee: 3. Select the Create new payee link. 2 1 3 The screen updates to reflect whether it s a Pay Anyone, BPAY, International or bank cheque payment Schedule payments in advance or set and forget by specifying the payment frequency to occur daily, weekly or monthly. Find and manage Recurring payments in the Payments menu. 2
TIP Cleared funds must be available at least 1 day before a scheduled payment is due. A scheduled payment may be rejected if: there s an insufficient available balance in the account, the payment exceeds the daily limit for the payment method, your Daily Payment Limit or the Business Daily Limit, or an invalid account is selected. Payment cut-off times Payments made to existing Westpac accounts need to be submitted before 9pm (AEST) Monday to Friday for the payment to be received on the same day. Payments to all other accounts will need to be made before 6pm (AEST) for the payment to be received the next day (may take longer for certain billers). Payments submitted for approval, where multiple approvals are required have 90 days to obtain all the required approvals before the payment expires. Where approvals are outstanding for a payment after this time, the payment will need to be recreated. See Approving payments and payees for further guidance. International Payments You can pay someone overseas or in another currency through the Make a payment menu. Some countries require an IBAN* or another internationally recognised number to process international payments. Ask your payee for this information. Make sure you check that the information provided is correct to ensure your payment isn t delayed or rejected. If more than one Approver is required for the payment, please be aware that the foreign exchange rate may change between the time the payment is created and the time it is approved. For the latest foreign exchange rates, go to www.westpac.com.au. * IBAN: http://www.westpac.com.au/faq/iban-number 3
You ll need to enter either your Westpac Protect TM SMS Code or a SecurID token to process International Payments. Receipt of payment will depend on the other bank s processing times. Please note, there s a transaction fee for International Payments. See fees and charges for Online Banking in our Online Banking Terms and Conditions*. TIP Future date or recurring payments must have the foreign exchange rate accepted on the payment date in order to be processed. You can set up an alert to remind you to accept the rate in time. Do you make payments to China? Payments to China must include the full account holder name. In some instances you may need to use the address line to complete the payee s name. * Online Banking Terms and Conditions: http://www.westpac.com.au/westpacliveterms 4
Payments to the Australian Tax Office Payments to the Australian Tax Office (ATO) can be made in the Make a payment screen. Search for the ATO payee that is pre-loaded in your payee list or create a BPAY biller using the Biller Code on your payment slip. Ensure you have your Payment Reference Number (PRN) or Electronic Funds Transfer (EFT) code handy. Making a tax or BAS payment? Tax or BAS payments paid using Pay Anyone form part of your Daily Payment Limit. If you schedule your tax or BAS payment to be recurring or for a future date, you must have sufficient funds in your account before the payment is due otherwise it may be rejected. TIP See the remaining amount you can spend for the day in the Payment details section of the Make a payment screen. Bank cheque payments You can now make bank cheque payments. Where the payment is to a new payee, choose the bank cheque payment method when adding them to your Payees & BPAY billers. If the payment is to an existing payee then you will have to recreate the payee and choose the bank cheque payment method. Bank cheques submitted prior to 6pm (AEST) will be sent with Australia Post by 4.30pm the following business day. Don t see the Bank cheque payment method when adding a new payee? Speak to your Administrator so that you can be set-up to make Bank Cheque Payments. 5
Same Day (RTGS) payments If you need to pay someone urgently, you can now setup a Same Day (RTGS) payment online or via your mobile. Simply tick the Process this as a Same day (RTGS) payment checkbox on the Make a payment screen after the Pay Anyone payee has been selected. 1 1. Tick Process this as a Same day (RTGS) payment on the Make a payment screen. Same Day payments will be settled with participating Australian financial institutions by close of business on any banking day and are limited to a maximum of $500,000 per day. Payments to the Australian Tax Office are not permitted. Be sure to request that Same Day payments are activated for your Westpac Live account. Contact your Administrator or call us on 1300 655 505 (8am - 8pm, 7 days a week) before attempting to make an urgent payment. Calling from overseas? Dial +61 2 9293 9270 Please note, there s a transaction fee for Same Day (RTGS) payments. See fees and charges for Online Banking in our Online Banking Terms and Conditions*. Payment cut-off times The payment must be created and approved by the cut-off time of 3pm (AEST), Monday to Friday. If you try to make a Same Day payment after the cut-off time, the payment won t be allowed and the option to send via this payment method will be unselected. If the payment has not been approved by the cut-off time, a new payment will need to be created. See Approving payments and payees for further guidance. * Online Banking Terms and Conditions: http://www.westpac.com.au/westpacliveterms 6
Paying multiple payees Find Multiple Payments in the Payments menu to pay more than one person at a time. Note, a payment made to multiple payees can contain either: International payees only (limited to a maximum of 10 payees), BPAY billers only, OR Pay Anyone and Funds transfer payees. Templates Creating a payment template allows you to make regular payments to the same payees without having to recreate the payments each time. Create a new template or view your existing ones by going to the Templates list from the Payments menu. Templates can also be saved from the Payment confirmation screen. Existing templates can be used to make a payment on your mobile or tablet device. Sign in to full online banking to create, edit or delete templates. TIP You can create up to 100 payment templates, each containing up to 400 payments. Payees must exist in the payees list before they can be added to a template. Please note, there s a transaction fee for payments made to non-westpac accounts from a payment template imported from your accounting software. See fees and charges for Online Banking in our Online Banking Terms and Conditions*. * Online Banking Terms and Conditions: http://www.westpac.com.au/westpacliveterms 7
Approving payments and payees Depending on how your business banking is set up in Westpac Live, some payments or payees you create may need to be approved by another person before they can be processed by Westpac. Check your Payments List to see if your payments require approval and who can approve them. If you have the ability to approve payments you can see the payments that need approval from the Approval button. Payments requiring approval must be approved within 90 calendar days after submission or they will expire. Check upcoming approvals Ensure you have enough funds in your account for any payments scheduled for a future date. For International Payments scheduled for a future date, the exchange rate must be reviewed and accepted on the payment date in order to complete the payment. Set up an alert to remind you to accept the rate in time. 8
What you can do if your payment was not approved and has expired Payments requiring approval must be approved within 90 days after payment submission or they will appear in the Awaiting Approval section on the Payments list page with an updated status of Approval expired. In order to reissue the payment it must be copied and recreated. 9
Payment Limits and Security When you make and approve payments in Westpac Live you are subject to a Daily Payment Limit, which is the total amount of money you can transfer out of Westpac Live on a given day. Pay Anyone, Tax, International and some BPAY payments will reduce your remaining Daily Payment Limit for that day. To make and approve some payments with a high value you need to be registered for additional security, either SMS Code or a SecurID token. You will be asked to enter a code when you are approving certain payments. For added peace of mind, our Westpac Protect Adaptive Authentication technology provides a comprehensive, risk-based authentication and fraud detection platform in real time. TIP If you need a higher Daily Payment Limit or additional security for your business banking on Westpac Live, speak to your Administrator. To see who your Administrators are, select Preferences from the Services & preferences menu. Administrators are listed in Profile access. 10
Managing payees & BPAY billers Westpac Live lets you manage or pay your payees and BPAY billers from one convenient place. Find Payees & BPAY billers in the Payments menu. 1 1. Create new payee. 2. View, edit or delete payee. 3. Pay payee. 3 2 Are you paying someone for the first time? The creation of the new payee may need to be approved first. Have you noticed new payees in your Payees and BPAY billers list? Westpac Live has a combined and shared Payee list for all people who bank on behalf of your business. This means any change made by one person is immediately available for all users. 11
Payee groups As an Administrator you can control which Users in your business network can view certain payee details. Start by creating a payee group and adding payees to it. Then assign the Users that you would like to view the payees to the group. Any additional payees that you add will automatically be visible to your Users. Note, whilst you can create up to 5 groups, a payee can only be added to one group. Find Payees & BPAY billers in the Payments menu. 1. Expand the Manage Groups menu to Create or Manage groups. 2. Expand the Move payees menu to assign a payee to a predefined group. 1 2 TIP Administrators can delegate the management of payee groups to others in the business network. Ensure that the User permissions for the relevant Users in your business network have been set up first. See the Online banking & user administration guide for further details. 12
Things you should know BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518. SecurID is a registered trademark of EMC Corporation. Read the Online Banking Terms and Conditions at westpac.com.au before making a decision and consider whether the product is appropriate for you. Transaction fees may apply. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian Credit Licence 233714 13