• Add and/or update financial institution details

    Information about the Update financial institution details screen in the Tax Agent and BAS Agent portals.

    This screen allows you to add and/or update financial institution details (FID) for your clients. The details include:

    • account name
    • BSB
    • account number.

    The FID for an income tax role or account are not displayed on the portal.

    If you intend to make a refund request for a client using the portal, ensure any FID updates are entered first.

    The FID provide details of the account to which your client wants to have any tax refund paid.

    The financial institution account provided must be held by one of the following:

    • the client, either solely or jointly
    • you as the client's registered tax or BAS agent (registered agent)
    • a legal practitioner acting as trustee or executor for the client.

    The following mandatory fields must be completed before you can add and/or update the FID:

    • account name
    • BSB
    • account number.

    The Account held by field is mandatory only for non-excise related accounts. Indicate whether the account is held by:

    • the client,
    • the client jointly with others
    • the registered agent on the client’s behalf
    • a legal practitioner as trustee or executor on behalf of the client.
    We will only pay tax refunds into a recognised financial institution account located in Australia.

     

    To add and/or update the FID for a role or account:

    • enter the required information in the mandatory fields
    • select the role/s or account/s that you want the details to apply to, or
    • choose Select all from this page to highlight all the roles/accounts displayed
    • select Next.

    Completing financial institution details fields

    Account names: 

    • must only contain valid characters:
    • valid characters are: A-Z a-z 0-9 & * space
    • invalid characters are: ' ! @ # $ % ( ) _ = { } [ ] \ : ; " . ? / ~ ^ + <>
    • should not exceed 32 characters in length
    • cannot have a leading space
    • cannot be all numbers.

    Account numbers: 

    • must only contain valid characters
      • valid characters are: A-Z a-z 0-9 hypen
      • invalid characters are: & ‘ / -( ) space ~ ` ! @ # $ % ^ * _ + [ ] { } \ | : ; ? / > < =
       
    • should not exceed nine characters in length
    • cannot contain a space in the middle of the number - for example, ‘123 456’ is not allowed
    • can have spaces before or after the number - for example, ‘ 123456’ or ‘123456 ' is allowed
    • cannot be zero.

    Examples of valid account numbers would include:

    • A1234567
    • 12345-S2
    • ABCDED1.

    BSB numbers: 

    • should be all numbers
    • valid characters are 0 – 9. All other characters are invalid
    • should not exceed six characters in length.

    BSB numbers containing six digits can be obtained from account statements or by contacting the relevant financial institution.

    If the correct account number and/or BSB number is not entered, the following error message may display:

    • ‘Error: Combination of BSB and Account number is not valid.’
    • Review the details and change them to proceed.
     
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