ASL’s low cost, batch payment solution
Direct Entry is used to batch process bank transfers, salary, Government benefits and direct debit transactions.
We offer two types of Direct Entry solutions:
- Standard Direct Entry
- Government Direct Entry – compliant to Government requirements
Direct Entry uses the Bulk Electronic Clearing System (BECS) for electronic debit and credit payment instructions. This system co-ordinates and facilitates the exchange and settlement of bulk electronic transactions between banks. Direct Entry is generally used for smaller day-to-day payments but is available for payments up to $100 million. To make and collect payments, a business needs to be approved as a direct entry user by a financial institution, that is, ASL.
We are a tier 1 participant of BECS clearing stream and provide tier 2 sponsorship to our Members. Our solution meets or exceeds APCA’s requirements and industry standards. We can also offer ASL-supplied BSBs or help source your own.
There are several features on offer with ASL’s Direct Entry solution:
- Scheme sponsorship, Direct Entry user number – your own unique identifier
- Same day, secure settlement (up to 5 times a day, plus one overnight)
- Batched payments capable of reliably handling high transaction volumes
- Daily reporting (ASL Direct portal)
The key benefits of ASL’s Direct Entry solution are:
- Relatively low cost
- Easy to implement
We consider our Customer’s as Members of ASL. As a Member, you also benefit from:
- Dedicated Account Management with access to a range of product, technical and operational resources. 24/7 monitoring and business continuity management.
- Best-in-class payment products to support your business with ongoing thought leadership and planning to ensure future products are available when your Customers need them.
- Payment experts available for consultation on your business and will represent your needs with key Suppliers, and industry regulators, associations.
- Member and Product onboarding are supported by a dedicated Implementation (Project Manager) so Members are supported at any point of these changes.
ASL have operated for over 20 years supporting Australian organisations and were the first non-bank to hold an Exchange Settlement Account (ESA). We are an approved deposit taking institution (ADI) and supervised by the Australian Prudential Regulation Authority (APRA).