I'm thinking of using Direct Credit. How does it work for super contributions?

Direct Credit requires you to complete an extra step after uploading and submitting your file – namely, you must make a payment (via your own internet banking or desktop banking) to the Clearing House bank account using a Payment Reference Number (PRN) and an amount that matches the total for the submitted data. When your contribution file is successfully submitted, the Portal displays the PRN and the bank details as shown below.

It is important to remember the following:

• You must make the Electronic Funds Transfer (EFT) via NPP Osko, BECS or BPAY payment as soon as possible after submitting the contribution batch.
• Ensure to enter the correct amount to the correct payee (PayClear) and with the correct PRN.
• For each submission, the portal automatically generates a PRN, in the format ABNddmm999 where:
  • ABN is the 11-digit Employer ABN stored in the system
  • ddmm is the day and month of the submission, and
  • 999 is a sequence number for the day (first submission will be 001)
• You can change the PRN to a value of your own (up to 18 characters) when you submit a contribution. However, you must enter the same PRN when making the EFT payment.
• You must ensure the amount paid matches the total submitted via the Portal.
• You can save PayClear as a regular payee, as the BSB and account number will not change between submissions.
• When using internet banking to make a payment, it is important to note the following:
  • Internet banking sites typically do not use the term ‘PRN’ or ‘Payment Reference Number’. Look for terms like ‘Description’ or ‘Reference’, sometimes indicated as required for the payee’s statement. Another clue is that there will be only one field long enough to take the full 18 characters.
  • If PayClear is saved as a regular payee, the reference number might be auto-filled from a previous payment, so ensure to update it to the PRN for your current payment.
• The SuperChoice Clearinghouse / PayClear has been supporting NPP Osko Employer payments since 2021.
  • If your bank account is NPP-enabled, then your payment to the SuperChoice Clearinghouse / PayClear will be sent to via NPP Osko, rather than BECS.
  • NPP Osko has the benefit that payments can be made after the usual banking cut off time of 4pm (AEST). NPP payments can be made at any time of the day including after hours, weekends and public holidays.