BankLink have announced a new, faster option for adding CBA accounts to The BankLink Service. As of March 2013, in addition to the traditional Client Authority Forms, CBA customers now have the option to provide authority through the NetBank online portal.
“We are very excited about this new online Client Authority Form option,” says Lisa Hill, BankLink’s Head of Institutional Relationships. “It virtually eliminates the need for physical signatures, which makes the process of adding a new account to The BankLink Service much faster and easier.”
Only the accounts that are available for reporting via BankLink will be visible to account holders. “CBA’s system is very seamless”, Ms Hill adds. “The account holder selects his or her accounts from the drop box option, and their account data is delivered to BankLink the following day.”
However, it is vital that account holders include their accountant’s unique BankLink ‘Practice Code’ where required. If they don’t, their request will be rejected. In that case, the account holder will receive a call from BankLink Client Services asking for clarification.
Business accounts on CommBiz, CBA’s business banking portal, are not available for selection. For CommBiz generated accounts the traditional BankLink Client Authority Form is still required.
A number of BankLink clients have already started communicating this news to their customers who bank with CBA.
“Even though the new online Client Authority Form is very seamless, we understand that a few account holders struggle with technology,” Ms Hill warns. “So we are encouraging all accounting practices to forward our short manual to help their customers set up a CBA NetBank transaction feed to BankLink.”
Click here to view and download the manual “How to set up a CBA NetBank transaction feed to BankLink”.
The NetBank online account data request service is simply one option BankLink offer. Clients who prefer to continue using ‘customer signed’ BankLink Client Authority Forms are free to use the existing process.
Further assistance:
For enquires regarding BankLink Unique Practice Codes, please contact BankLink Client Services on 1800 123 242or email clientservices@banklink.com.au
For enquiries regarding CBA’s online client authority form, please contact the Commonwealth Bank support team on 13 2221.
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