BPAY

If you hold Australian shares you may, from time to time, be offered the opportunity to take advantage of a corporate action. A corporate action is a general term that describes events carried out by a listed company, such as a rights entitlement or a share purchase plan. They often have tight deadlines and being able to act quickly to take up a corporate action can be important.

Arranging a BPAY through ASB Securities allows you to make a prompt electronic payment instead of having to arrange an International Money Transfer (IMT). Of the options available through ASB Securities, BPAY is the fastest and most straightforward method. It's also the least expensive which you can see when comparing the fees.

We'll arrange your BPAY payment for you

BPAY is normally only available to Australian Citizens, but we can arrange a BPAY payment on your behalf if you’re an ASB Securities client.

What you need to provide

Simply fill in the forms sent to you by the issuing company and forward them on to us, along with your client number and instructions for which ASB Securities account you want to use. This is the account we'll debit your BPAY payment and the $12 fee from. If you have both an ASB Cash Management Account and an ASB Foreign Currency Account, you can choose either one.

It's always best to plan ahead

When taking up a corporate action via BPAY we recommend acting as soon as possible, so you don't miss out. At a minimum, we need to receive your BPAY instructions and forms by 12 noon two business days before the offer closing date. Any requests received after this can only be processed and sent to the registry on a best endeavours basis.

Double check your details match

Your holder registration details must match your ASB Securities account details. For example, if your shares are registered to a Trust, you'll need to use an ASB Securities account under the Trust’s name to make the BPAY payment.

BPAY is available in these situations

• Chess Sponsored holdings (holdings under a Holder Identification Number [HIN]) with ASB Securities held via Finclear Execution Ltd (FinEx). If you have holdings with another Chess sponsor you are unable to use the BPAY service through ASB Securities.
• Issuer Sponsored holdings (holdings under a Security Reference Number [SRN]) where the holder registration details match the details of the account held with ASB Securities. For example, shares registered to a Trust on an SRN must use a Trust account to make the BPAY payment.