Completing the attached third-party authority form will grant our SMSF software supplier (BGL) access to provide us the same information as your Bank Statement in a READ ONLY electronic format.
Authority Form Signing Guide:
Checklist
1. Confirm all details on the attached authority form(s) are correct.
- Account Name must match what is seen on the bank statement.
- BSB and Account Number(s) must match what is seen on your bank statement.
- Signatories listed are the owner(s) of the account(s).
- If the account(s) has more than one signatory, a minimum of two must sign.
- NOTE: Macquarie Bank, Commonwealth Bank, and ANZ require all signatories to sign the form if there are multiple.
- Signatures must be registered/up to date with the bank (banks will only approve signatures that match their records).
- Banks will accept handwritten account details with the exception of Commonwealth Bank.
2. Ensure you sign and date the form in the appropriate fields.
- The signatories’ names will already be pre-filled. Alternatively, you may also edit the names of the signatories after you have generated the authority form.
- The forms need to be dated where applicable.
- NOTE: The following banks will not accept authority forms that have been dated over 60 days:
- Macquarie Bank
- Commonwealth Bank
- NAB
- NOTE: The following banks will not accept authority forms that have been dated over 60 days:
3. All completed forms should be returned to your accountant to upload directly into Simple Fund 360. Alternatively, you can email the PDF(s) to bankfeeds@bglcorp.com.au.
- For further instructions on how to upload an authority form directly to the software, please refer to the following BGL Help Article - Uploading BGL Bank Data Service Authority Forms.
4. The turnaround time for approval from the banks can be up to 10-15 business days. Please note that we have the processes in place to follow-up with the bank on any authority forms which have been outstanding for approval for longer than 10 business days.
5. All bank feeds for Westpac accounts are to be set up through Westpac Live online. For more information regarding Westpac’s online authorisation process, please refer to the links below.
Digital Signing
There are currently three banks which support electronically signed third-party authority forms. Please refer to the below table for more details on the specific requirements for each of these banks.
Note: Digital Signing Certificate of Completion
If required, the certificate of completion generated by the digital signing provider must be combined with the authority form and uploaded to Simple Fund 360 or Simple Invest 360 as a single PDF file.
|
Institution |
Supported Digital Signature Providers |
Specific Requirements |
|
Bendigo Bank |
|
|
|
Macquarie Bank |
|
|
|
NAB |
All digital signature providers are supported. |
|
Frequently Asked Questions
Why am I authorising BGL to collect my data?
BGL’s Simple Fund software is used to maintain over 75% of Australia’s Self-Managed Superannuation Funds. Economies of scale that BGL’s service offers make it easier for BGL to provide the highest levels of physical and digital security levels that most professional organisations cannot implement on their own.
Can BGL transact on my behalf or access my internet banking?
BGL has no capability to transact on your behalf. You are simply authorising your bank to send through read only data, similar to a bank statement.