using notice saver accounts - westpac

Corporate Online User Guide for Notice Saver Accounts.

Issuer Westpac Banking Corporation ABN 33 007 457 141 Australian Financial Services Licence No. 233714

Effective as of March 2021

About this guide

User Guide For Notice Saver Accounts of 23 Effective as of March 2021

About Corporate Online Westpac Corporate Online is an internet-based electronic platform, providing a single point of entry to a suite of online transactional services specifically designed for major Australian, New Zealand and international corporations and government bodies.

By working closely with customers like you, we have developed Corporate Online as a portal environment that delivers greater control, productivity, and flexibility to your business.

Control how your organisation uses Corporate Online, including which applications and features staff members can use and which accounts and services they have access to.

Increase productivity by getting straight to work with Corporate Online’s easy-to-use interface and simple workflows.

Use Corporate Online’s flexibility to create a setup that matches your business needs and can grow and change as your business does.

Security

Corporate Online employs a “best of breed” security model, using a range of protective technologies to guard your organisation’s information and to assist you in better managing the risks of fraudulent activity. These include 128bit encryption and SecurID® Tokens

For detailed information on Corporate Online’s extensive security features, please ask your Westpac Representative.

Note

This user guide forms part of your agreement with us and provides information for your use of this product within Westpac Corporate Online.

Certain words used throughout the user guide may have a defined meaning in the Glossary.

Copyright © Effective as of March 2021.

Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.

About this guide


Contents About this guide..................................................................................................................................... 4

Introducing the Notice Saver Account ......................................................................................... 5

Withdrawal requests ...................................................................................................................... 5

Functions supported ...................................................................................................................... 5

Viewing your Notice Saver Account via Accounts ........................................................... 5

Notice Saver Account functions features ............................................................................. 6

Information history .......................................................................................................................... 6

Corporate Online fees and charges ......................................................................................... 6

Offices not required ........................................................................................................................ 6

Cut-off times ...................................................................................................................................... 6

Authorisation and workflows in Online Deposits ..................................................................... 7

Notice Saver account screens ........................................................................................................ 10

Working with current notices ................................................................................................... 10

Working with historical notices .................................................................................................11

Managing Notice Saver accounts ................................................................................................. 12

Creating a notice of withdrawal ...............................................................................................12

Cancelling a notice ........................................................................................................................ 13

Reinvesting funds from funds at call ..................................................................................... 14

Amending task details ................................................................................................................. 15

Deleting tasks .................................................................................................................................. 16

Authorising tasks ............................................................................................................................17

Setting deposit preferences ............................................................................................................ 19

Basic skills: Deposits .......................................................................................................................... 20

Printing with print preview ....................................................................................................... 20

Entering dates with the calendar .............................................................................................21

Navigating a list screen using the grey navigation links ...............................................22

Glossary .................................................................................................................................................. 23

About this guide


About this guide This guide describes how to use the Notice Saver Account functionality of Westpac Corporate Online. It is one of a suite of guides that cover the wide range of applications and features that are available through Corporate Online.

Where can I find a copy of this guide?

The most up-to-date versions of this and other Corporate Online user guides can

be found on the User guides screen of Corporate Online.

If you must print this document, always download the PDF from Corporate Online, then print from that - don’t print a saved PDF or photocopy a paper copy as it may not be current.

What else should I read?

As well as reading this guide, we strongly recommend you read the Introducing Corporate Online User Guide, which covers topics such as logging on and security.

Introducing the Notice Saver Account


Introducing the Notice Saver Account The Notice Saver Account is a deposit account which is issued as a 31-day, 60-day, 90 day or 180-day account (depending on which notice period you select)

The key feature of the account is that to access funds of a portion of the funds in the account you must submit a Notice of Withdrawal and wait the relevant time (i.e., 30 days, 60 days, 90 days, or 180 days) before you can access the funds specified in the Notice of Withdrawal.

At any time while your Notice Saver Accounts remains open, your funds will be treated as:

Funds on Hold (FOH).

Funds on Notice (FON).

Funds at Call (FAC).

You can deposit additional funds into your Notice Saver Account at any time. Funds that are deposited to a Notice Saver Account will be treated (on the day of deposit) as FAC until overnight system processing is carried out. Following processing, deposits will be treated as FOH.

An annual statement of interest paid is provided in July each year for any Notice Saver Account that has been active in the 12 months prior to that July.

There’s no minimum balance level required to open or maintain a Notice Saver Account.

Withdrawal requests

A withdrawal request may be made by submitting a Notice of Withdrawal, using your Corporate Online facility. Withdrawal notice periods are calculated from (and include) the day that the Notice of Withdrawal is received by Westpac through your Corporate Online facility.

Notices of Withdrawal may be cancelled by you at any time up to the last day of the relevant notice period. If a Notice of Withdrawal is cancelled, the relevant amount will automatically become part of FOH.

Functions supported

The Deposits application of Corporate Online can be used to:

Check the current balance of funds in each stage of your Notice Saver.

Submit withdrawal notices, check the status of active or scheduled withdrawal notices.

Transfer funds from FAC out of the Notice Saver or reinvest them; and

Cancel withdrawal notices.

Viewing your Notice Saver Account via Accounts

In addition to being able to view your Notice Saver Account in the Deposits application, you can also view Notice Saver Accounts in the Accounts application and include them in your account group balances.

Introducing the Notice Saver Account


Notice Saver Account functions features

The Notice Saver Account functionality is broken down into several features to allow you to manage which tasks can be performed by which users in your organisation (according to their job role). The features are:

Feature (as allocated in Administration)

Description

View and print Notice saver Account Notices of Withdrawal

View and print current and historical notices of withdrawal on your account.

See Working with current notices on page 10.

Manage Notice Saver Notices of Withdrawal

Manage all aspects of your account, such as submitting notices of withdrawal and reinvesting funds. This feature is in addition to the View and print function.

See Managing Notice Saver accounts on page 12.

These features are allocated to users by your Corporate Online administrators.

Information history

Deposit information remains available in Corporate Online for 18 calendar months.

Corporate Online fees and charges

For information on fees and charges, refer to the Corporate Online Terms and Conditions, which is published on the Westpac internet site, or talk to your Westpac Representative.

Offices not required

Unlike most Corporate Online applications, the Online Deposits application does not use Offices.

Cut-off times

Notification requests must be fully authorised by the following standard cut-off times:

Notice type Cut-off time

Withdrawal notice 23:59 AEST/AEDT (Sydney time) on the Start date of Notice.

Cancel notice 21:00 AEST/AEDT (Sydney time) on the Final date of Notice.

Reinvestment request Not applicable.

Authorisation and workflows in Online Deposits


Authorisation and workflows in Online Deposits Corporate Online requires that requests to withdraw, reinvest and cancel notices must be authorised. To manage this authorisation, Corporate Online uses the concept of a workflow. A typical workflow might look like this.

How many steps make up a workflow?

The number of steps required to create and authorise a request is determined by the authorisation model chosen by your organisation for Online Deposits. There are two authorisation models on offer:

single authorisation

dual authorisation.

Single Authorisation = 2 steps

Single is the simplest authorisation model, in business terms. Each request must be created, then authorised (once), at which time Corporate Online accepts it for processing.

Dual Authorisation = 3 steps

Dual is the most robust and flexible authorisation model. Each request is created, then goes through a two-stage authorisation process before being accepted for processing.

Which model are we using?

Your Corporate Online administrator can tell you which authorisation model your organisation is using for Online Deposits by running an active profile report for your organisation (see Administering Corporate Online, available from the User Guides page under Administration).



Who can perform which steps in a workflow?

Corporate Online allows your organisation to restrict what steps users can perform in the Online Deposits workflow. This defines each user’s role. There are two main roles in a workflow:

creator

authoriser

In addition, your organisation can determine if individual users can play more than one role in a particular workflow (i.e., can they be both a creator and authoriser) and whether users performing both roles are permitted to authorise the tasks they themselves have created (called “self-authorising”).

Your user role is controlled by your organisation’s Corporate Online administrators. You may have a different role in other applications (e.g., Accounts, Administration).

Notice saver request status and workflow

Each Notice saver request in a workflow has a status that tells you where it’s in the workflow. The request workflow and statuses can be summarised as follows:

Notice Saver account screens


Notice Saver account screens This section gives you a quick tour of the main screens you will encounter when using the Notice Saver Account features.

Working with current notices

Use this procedure to view current balances and notices.

To perform this procedure, you need:

Creator access to the Deposits > View and print Notice Saver feature.

Start from anywhere in the Deposits application:

1. From the Deposits menu, select Manage > Notice saver.

Corporate Online displays the Current Notices screen which shows your account balance, accrued interest for the month and current notices on the account.

2. Perform one of the following actions:

To print the list of notices, select Print Preview (see Printing with print preview on page 20).

To view notice details, select the Reference link.

For more information on using the features shown, see:

Creating a notice of withdrawal on page 12.

Cancelling a notice on page 13.

Reinvesting funds from funds at call on page 14.

Notice Saver account screens


Working with historical notices

Use this procedure to view historical notices.




1. From the Deposits menu, select Manage > Notice saver.

Corporate Online displays the Current Notices screen.

2. Select the Historical notices tab at the top of the screen.

Corporate Online displays a list of historical notice for the selected account.

3. Perform one of the following actions:

To print the list of notices, select Print Preview (see Printing with print preview on page 20).

To view notice details, select the Reference link.

Managing Notice Saver accounts


Managing Notice Saver accounts You can use Corporate Online for:

Creating a notice of withdrawal.

Cancelling a notice of withdrawal.

Creating a reinvestment request.

Creating a notice of withdrawal

Use this procedure to create a Notice of Withdrawal.



Creator access to the Deposits > Manage Notice Saver feature.

Authoriser access to the Deposits > Manage Notice Saver feature.


1. From the left-hand navigation menu, select Manage > Notice saver.

Corporate Online displays the Manage Notice saver — List of current notices screen

2. Select Create notice.

Corporate Online displays the Create withdrawal notice – Enter withdrawal details screen.



3. Enter the details of the withdrawal

Field Description

Withdrawal amount Enter the Withdrawal amount.

Start date of notice Select the start date which may be today or a future date. The final date of notice field will be automatically populated to match the account’s notice period.

Final date of notice Select the final date. The start date will be automatically populated to match the account’s notice period. You cannot select a final date less than the notice period or more than a year from today.

4. Select Send to authorise.

Corporate Online displays the confirmation screen.

Depending on your authorisation, this request may be self-authorised or submitted for authorisation by another Corporate Online user. To authorise this task, see Authorising tasks on page 17.

Cancelling a notice

Use this procedure to cancel a notice.







Corporate Online displays the Manage Notice saver — List of current notices screen

2. Select the notice to be cancelled.

3. Select Cancel notice.





Reinvesting funds from funds at call

Use this procedure to reinvest funds from Funds at Call back into Funds on Hold.







Corporate Online displays the Manage Notice saver — List of current notices screen.

2. Select Create reinvestment.

Corporate Online displays the Create reinvestment notice – Enter reinvestment details screen.

3. Enter the Amount to be re-invested and then select Send to authorise.





Amending task details

Use this procedure to amend an unauthorised task.





1. From the left-hand navigation menu, select Manage > Pending tasks.

Corporate Online displays the Manage pending tasks — Tasks not completed screen.

2. Select the “Task type” (For example: Create notice or Create reinvestment).

3. Select the task you want to amend then select Amend. (Note: The Amend button is not available for Cancel notice)

Corporate Online displays the Details screen based on the type of task selected.

4. Amend the details of the task then select Send to authorise.

For more information, see:



Creating a notice of withdrawal on page 12. Cancelling a notice on page 13.

Reinvesting funds from funds at call on page 14.


This notice request must now be authorised. To authorise this task, see Authorising tasks on page 17.

Deleting tasks

Use this procedure to delete a task.

Note: Corporate Online automatically deletes incomplete, unauthorised, and partially authorised tasks overnight: you don’t need to manually delete them, unless you want to prevent them being completed or authorised.

An unauthorised create notice task is deleted the next day after the start date while an unauthorised cancellation is deleted the next day after the end date.





1. From the left-hand navigation menu, select Manage > Pending tasks.

Corporate Online displays the Manage Pending tasks – Tasks not completed screen.


3. Select the task you want to delete then select Delete.

Corporate Online displays the applicable manage pending tasks confirmation screen.



4. Check this is the task you want to delete then select Delete now.

Corporate Online will remove the deleted task overnight.

Authorising tasks

Use this procedure to authorise Notice Saver account tasks.

To perform this procedure, you need authoriser access to the Deposits > Manage Notice Saver feature.

Start from anywhere in the Deposits application.

1. From the left-hand navigation menu, select Authorise.

Corporate Online displays the Authorise — Tasks requiring authorisation screen.


3. Select the task you want to authorise then select Review before authorising.

Corporate Online displays the authorise screen.

4. Review the task details carefully, then select Authorise now.



Corporate Online updates the notice status depending on the authorisation model used by your organisation for the Deposits application.

Authorisation model

Previous status

Action

Single authorisation

Unauthorised Corporate Online updates the tasks status to Authorised

Dual authorisation

Unauthorised

Corporate Online updates the tasks status to Partially authorised

These instructions must now be fully authorised by another authoriser (using this same procedure).

Partially authorised

Corporate Online updates the tasks status to Authorised

Setting deposit preferences


Setting deposit preferences Set preferences allows you to set the default values displayed by Corporate Online Deposits to the screens you use the most. This can save you time and hassle.

Each user set their own preferences. Preferences can be set for each Corporate Online application (e.g., Payments, Accounts) individually.

Use this procedure to set your individual preferences for the Deposits application.

Start from anywhere in the Deposits application.

1. From the left-hand navigation menu, select Deposits > Set preferences.

Corporate Online displays the Set preferences — Deposits preferred settings screen.

2. Set your preferences by selecting them from the drop-down lists displayed.

Heading Description

Entry screen Select a Deposits screen from the drop-down list.

Corporate Online will display this screen each time you navigate to the Deposits application.

Notice saver preferences Select the Account you’d like to see first within Manage – Notice Saver

3. Select Submit.

Corporate Online updates your preferences. This will not affect the preferences of any other user or any of your preferences for other applications (e.g., Payments).

Basic skills: Deposits


Basic skills: Deposits This section introduces some of the basic skills that apply to many of the screens you will encounter when using the Deposits application.

These basic skills can be used anywhere the feature (e.g., the Print preview button) appears. They may not be referred to specifically in the procedures.

Printing with print preview

Many of the screens in the Deposits application include a Print Preview button to allow you to preview then print the details displayed on the screen. To print:

1. Select Print preview.

Corporate Online pops up a print preview window. For example:

2. Select Print this page.

Your computer pops up a Print dialog. For example:

3. Make the appropriate printer selections and adjustments, and then select the Print button.

Your computer should now print the previewed information.

4. Select Close.

Basic skills: Deposits


Entering dates with the calendar

The user can enter a date into the date field or use the pop-up calendar. Using the calendar ensures you won’t enter dates that are inappropriate for the context of the screen, e.g., by not allowing a notice of withdrawal on a weekend or Australian national public holiday.

To use the calendar to enter a date:

1. Select on the Calendar icon to the right of the date you want to alter. For example:

Corporate Online displays a calendar pop-up window. For example:

The colour of the individual days on the calendar tells you whether they are appropriate for the context of the screen you’re working on. The calendar considers how far in the future a date can be set and most Australian national public holiday restrictions.

2. If required, change the month by using the arrows or the drop-down box at the top of the pop-up window. For example:

3. Select a valid date by selecting on a red or dark grey date. For example:

Corporate Online now displays the date selected. For example:


Navigating a list screen using the grey navigation links

When Corporate Online displays lists of things (e.g., deposits), it does so in blocks of up to 20 items. At the bottom of such list is a grey band containing the links that allow you to navigate through the items in the list. For example:

If a link cannot be used, it’s greyed out. For example, if Corporate Online is displaying the first 20 deposits in the list, “Start of list” and “Previous 20” are greyed out.

If there are 20 or fewer deposits in the list, all the navigation links don’t appear.

To navigate the list:

1. Select a “navigation” link. For example:

Corporate Online redisplays this screen with the selected part of the list.

Glossary


Glossary The following terms are used in the Corporate Online Corporate Notice Saver Account user guides.

Current notices

Notices to withdraw funds which are active on the account.

Historical notices

Past notices to withdraw funds which have been processed or cancelled.

Notices of withdrawal

Means a valid notice which specifies the amount of Funds on Hold that a customer wishes to transfer to being Funds on Notice.

Office

An office is a flexible logical entity used to segregate payments, billing, beneficiaries, templates, and trade finance agreements within an organisation in a Corporate Online setup.

Organisation

An organisation is the highest-level entity that can be represented in a Corporate Online set up.

Preferences

Preferences define a set of default values (e.g., screens, offices, accounts) for a particular user for a particular application.

Service

A service is a particular type of banking facility accessed via a Corporate Online feature.

Corporate Online provides access to two groups of services: import services and receipt services.

User

A user is an identifiable person registered to access Corporate Online whose identity has been verified either by the bank or a Corporate Online administrator.

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