Direct Entry

Direct Entry (DE)

Cost-effective, easy funds transfers

Direct entry (DE) is a cost-effective, batch-based payment service that allows money to be easily transferred between individual accounts at Australian financial institutions. More than one third of the 20 million non-cash payments made in Australia each business day are made by direct entry through the Bulk Electronic Clearing System (BECS).

It’s an essential service for:

Financial institutions offering transactional banking
Companies wanting to debit or credit their customers’ or employees’ accounts

Cuscal is an authorised deposit-taking institution (ADI), regulated by APRA and a Tier 1 Participant in BECS. Last financial year we processed over 220 million DE transactions. We are Australia’s largest DE processor after the RBA and the big four banks.

Many clients choose to complement our DE service with one or more of our wide range of other payments products and services, for maximum ease and efficiency.

Quicker integration, reliable processing
We currently process DE transactions for more than 60 financial institutions in Australia and represent 16 BECS Tier 2 Participants – more than any other Tier 1 participant.

So, we’re very used to managing different technology platforms and client requirements and can quickly and easily integrate new clients onto our platforms. Our long experience has also allowed us to develop an enviable reputation for reliability and dependability.

Frequent, regular payments and submissions
We accept direct entry file submissions from clients up to 8pm and release incoming files eight times a day. This gives our clients greater flexibility to process transactions at times that suit them, allowing them to offer a better standard of service to their customers.

We provide clients with settlement services on a net, daily basis.

We’re a partner, not a competitor
At Cuscal, unlike many other Tier 1 BECS participants, we don’t have a retail business so we don’t compete with our clients. This allows our clients to focus on growing their businesses, confident we’re looking after their interests.

DE for FIs
DE for Businesses

DE for Financial Institutions

We offer a range of direct entry service models – either as sponsor, representative or courier – to suit the needs of your financial institution.

Sponsorship
We provide a comprehensive range of sponsorship services for more than 60 financial institutions, including:

Processing, clearing and settlement services over a secure and flexible network
Transaction enquiries, traces, recalls and claims
Dishonour and returns processing
Online submission of disputes and traces
Daily transaction reporting
Operational training
Industry and technical compliance assistance

We connect to all major banking systems so that most financial institutions can easily achieve straight-through processing of their direct entry payments.

Representation
For financial institutions that are Bulk Electronic Clearing System (BECS) Tier 2 Participants, or would like to be, we can act as your representative within BECS. We already support 16 Tier 2 Participants – more than any other Tier 1 representative.
Our Tier 2 clients benefit from all of our direct entry services, with the added benefit of processing using their own BSB range.

Courier services
We also provide processing services for Tier 1 BECS Participants as a courier service operator. This solution offers straight through processing and automated submission of settlement instructions to the financial institution’s own Exchange Settlement Account at the Reserve Bank of Australia.

DE for businesses

As a Tier 1 Participant of Bulk Electronic Clearing System (BECS), we sponsor businesses for direct debit and credit facilities. Our clients generally are high volume payment processors that value the wholesale banking and payment capabilities that we can provide. Our Direct Entry (DE) service includes:

Processing, clearing and settlement services over a secure and flexible network
Transaction enquiries, traces, recalls and claims
Dishonour and returns processing
Online submission of disputes and traces
Daily transaction reporting
Operational training
Technical compliance assistance

Our DE service provides businesses with everything they need for efficient, cost-effective, high-volume transaction processing, including VPN configuration, a dedicated BSB, direct entry User ID, and technical support.

Unlike most retail banking direct entry processing solutions, we enable our clients to fully automate file exchange and processing including returned and dishonoured payments.