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.
- Signatures must be registered/up to date with the bank (banks will only approve signatures that match their records)
- Ensure no handwritten account details are added to the form, banks will not accept this.
2. Ensure you sign and date the form in the appropriate fields.
- Your name will already be pre-filled.
- Ensure the dates are within 60 days, as dates outside of this time run the risk of being rejected by the bank.
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 firstname.lastname@example.org.
- Ensure all pages are included.
4. All bank feeds for Westpac accounts are to be setup through Westpac Live online.
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.