Corporate Online enhancement – 26 August 2019
Effective from Monday, 26 August 2019, the following improvements to Corporate Online have been made to simplify your online banking.
Identifying the cut off time for payments has been made easier
The cut off time for each payment is now also included on the payments displayed on both the Pending payments and Authorise payments screen. There is also the ability to apply a filter to display those payments requiring authorisation today.
In addition to this, to assist with ensuring payments are authorised before the cut off time, payments awaiting authorisation will be displayed in red during the 60 minutes prior to the cut off time.
International payments using an Automated Live FX rate or Market rate
To provide more flexibility, the maximum international payment amount of AUD/NZD $500,000 that was allowed using an Automated Live FX rate or Market rate has now been increased to a maximum amount of AUD/NZD $2 million.
Authorising international payments with a foreign exchange deal
For an improved customer experience an Australian international payment with a foreign exchange deal can be authorised after the payment cut off time.
After the payment cut off time has passed, the Australian international payment with a foreign exchange deal can still be authorised up to 7:30pm AEST/AEDT allowing the foreign exchange deal and the payment to be debited on the value date. The beneficiary will receive their funds the next business day.
New standard cut off time for payments funded with a Trade Finance agreement
To ensure domestic and international payments funded with a Trade Finance agreement are processed on the selected value date the cut off time to authorise a payment has changed. The standard Australian cut off time of 5:30pm AEST/AEDT has been changed to 4:00pm AEST/AEDT and the standard New Zealand cut off time of 8:00pm NZST has been changed to 4:30pm NZST.
Reminder to be aware of scams and tips on how to identify them
A warning reminder has been added to the Manage payment and Authorise payment screens to be aware of Business email compromise scams (BEC scams). A help page is provided to educate and help protect from being impacted by BEC scams.
Improved information for Administrators
To simplify auditing processes, when requesting an Active profile report – Office, the details of the users with access to each office will now also be provided in the report.
To make it easier to complete Administration tasks, a description of what each task type action is used for has been added to screens.
Term Deposits (Business Bank)
The minimum term available is now 7 calendar days (previously 14 calendar days) and the ability to select a maturity date that is on a weekend or national public holiday is now provided.
Please refer to the User Guides and Online Help available within Corporate Online.
For assistance over the phone please refer to the Corporate Help Desk contact details and hours of availability for further details