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.