Pay your investors via direct credit

To pay your investors via direct credit:

1. On record date, a new blue panel will appear in the Payment details view. From here, you can download an ABA file with an ABA payment date. An ABA file is a specially formatted text file that can be uploaded to your bank in order to send payments to your investors via electronic funds transfer.
2. Set the ABA payment date. Initially, this will be the payment date for the dividend. Subsequent payments may be required where payments to an investor fail or if the investor has not provided their bank details by the Payment date. See handling failed payments for further information.
3. Click Download .aba file. After the file has downloaded and you've uploaded it to the bank answer the following question: Did your bank accept the ABA file? 
   1. If your bank accepted the ABA file, click Yes, the file was accepted to set all Direct Credit payees to 'Paid'. Any failed or returned payments can be handled by changing the status of the failed payment from 'Paid' to 'Retained' or by updating the payee's bank details. Once bank details have been updated you can generate a new ABA just for those payees. 
   2. If the file was rejected because of a particular payee then click the No, the file was rejected button. Now you can go back and set any Direct Credit payees from Paid to Retained
   3. Once an investor's bank details have been updated, a new ABA file can be downloaded and re-uploaded to the bank
4. Once you have confirmed the ABA file upload, you can click the View ABA file details link to see a list of payments to be made. The list contains the following fields from the investors recorded banking information:
   • Account name
   • ABA reference no
   • BSB
   • Account number
   • Direct credit (this is the amount to be paid to the investor)
5. At this point, the status for each payment in the ABA file will be automatically set to Paid unless the investor is missing bank details. In which case, the status will be set to Payment retained - no bank details. See handling failed payments for more information on dealing with failed payments.  
6. To review the status of direct credit payments, from the Payment detail view click on the blue number next to Direct credit to go to the Direct credit detail list. This view shows the Status along with payment detail for each payment made to investors.