ANZ will be decommissioning the use of payroll letters of credit (PLOC’s) later this year.
Therefore we are creating a new payment method for our ANZ customers which uses ANZ’s Fileactive service. The Fileactive service is a direct connection between iPayroll and ANZ, which initiates payroll transactions directly from the cleared funds in your bank account on your behalf. The Fileactive service ensures we can continue to manage the net payments to your staff on a same day confirmation deadline, regardless of the payroll value.
You will need to ensure there are sufficient
available funds in the bank account by the 3pm cutoff, so that when the payroll
file is automatically sent to ANZ at 3.45pm for processing, it is not rejected.
In preparation for your change to the ANZ
Fileactive service, please arrange for the ANZ Third Party Authorisation
form to be signed, found under Setup > Onboarding > ANZ
Third Party Authorisation Form.
ANZ will validate the signatures on the form
against their own account records so please ensure the correct signatories sign
the form. If the bank account requires dual signatories, then both parties will
need to sign the form.
Please let us know if you do not wish to use ANZ
Fileactive service so we can discuss the other payment method options available
to you.