Pay Anyone - Adviser FAQs

Pay Anyone is a facility that allows you to make payments from your client’s account to a third-party that has a bank account within Australia with a BSB and account number.

Pay Anyone set-up

What do I need before I can start using Pay Anyone?
How can my client accept the Pay Anyone terms and conditions?

Third-party payments

How do I add a new Pay Anyone bank account?
How can I make a payment to a Pay Anyone bank account?
Can I make regular payments to a Pay Anyone bank account?

Client consent

When is client consent required?
What consent methods are available?

Client details management

How can I update the account contact details?
How can I check my client’s InvestorHUB login ID and Pay Anyone status?
How can I verify my client’s InvestorHUB login or create a new InvestorHUB login for my client?
How can my client update their InvestorHUB login details?
How can my client enrol in multi-factor authentication?

Notifications

How is my client notified when consent is required?
How am I notified when using Pay Anyone that my client has consented to the request?

Pay Anyone set-up

What do I need before I can start using Pay Anyone?

Pay Anyone is only available to accounts where clients have accepted the terms and conditions to use the Pay Anyone facility.

How can my client accept the Pay Anyone terms and conditions?

Your client can view and accept the Pay Anyone terms and conditions through Accounts > Pay Anyone Terms & Conditions in InvestorHUB. Your client can revoke their acceptance at any time through InvestorHUB.

Third-party payments

How do I create a new Pay Anyone bank account?

You can add a new Pay Anyone bank account by navigating to the Accounts and Billers page found on the account menu in AdviserHUB. In the Pay Anyone tab you will have the ability to add, delete or make payments to these bank accounts. Adding a new bank account will always require consent from your client.

You cannot add a Pay Anyone bank account in your name as the client’s adviser, client’s attorney (appointed under power of attorney) or the client’s representative (such as executors of estates, agents and nominated representatives) as no payments can be made to these accounts.

How can I make a payment to a Pay Anyone bank account?

You can make a payment to a Pay Anyone account that has been established through the New Withdrawal page in AdviserHUB. Bank accounts from which withdrawals are processed are done via the Linked accounts tab whereas Pay Anyone accounts can be paid through the Pay Anyone tab.

You have the option to Pay Now, Pay Later or Pay when cash is available when using Pay Anyone. If using the Pay Now option, there must be enough available cash for the payment to be processed successfully. If you send a Pay Now request through InvestorHUB and there is insufficient cash when the client approves the request, the payment will not be processed and you will be notified.

Generally, payments to Pay Anyone bank accounts will not require prior consent from the client except when:

Establishing a new Pay Anyone bank account;
Making a payment at the same time as the new Pay Anyone bank account is established;
Making a payment that exceeds the aggregated threshold of $100,000 within 24 hours.

Can I make regular payments to a Pay Anyone bank account?

Pay Anyone bank accounts are not available for a regular payment plan.

Client consent

When is client consent required?

You will need your client’s consent when:

Establishing a new Pay Anyone bank account;
Making a payment at the same time as the new Pay Anyone bank account is established;
Making a payment that exceeds the aggregated threshold of $100,000 within 24 hours.

What consent methods are available to my client?

You may request consent from your client through the following methods:

One-time passcode sent to your client via SMS. Your client will need to provide you with this code within 15 minutes to authorise and submit the request for processing.
Digital consent via InvestorHUB. After you submit the request, your client will need to login to their InvestorHUB account to approve the request within 24 hours for it to be successfully processed.

The one-time passcode is only available if the account contact person on record is the account holder, and they have a valid mobile number. A six-digit code is sent to the contact person who will need to provide you with this code within 15 minutes to authorise the request for processing. If required, you may resend a new code to your client.

Digital consent can be sent to clients with eligible InvestorHUB logins. To be eligible, your client(s) must have an active InvestorHUB login with a valid mobile number, multi-factor authentication enabled and be verified to action Pay Anyone requests on the account as the account holder. If you have multiple eligible clients, you will have the option to select which client to send the request to.

Your client will be sent an SMS notifying them of an approval request in InvestorHUB. Your client can then approve the request through Accounts > Approval Requests in InvestorHUB or following the prompt when they log in.

Client details management

How can I update the account contact details?

You can change the account contact person and their details through Product & Forms > Forms > Change of Details Form in AdviserHUB. This cannot be the contact details of you, the adviser or your client’s attorney (appointed under power of attorney) or the client’s representative (such as executors of estates, agents and nominated representatives)

For security reasons, you will no longer be able to change the mobile number or email address of the contact person through AdviserHUB. However, your client can update the contact person details through Account Menu > Update Contact Details in InvestorHUB.

How can I check my client’s InvestorHUB login ID and Pay Anyone status?

Your client’s login ID and login details can be found in the Account Details page in AdviserHUB.

The Pay Anyone Status is only visible if the Pay Anyone terms & conditions have been accepted and reflects whether the client can action Pay Anyone requests on the account.

How can I verify my client’s InvestorHUB login or create a new InvestorHUB login for my client?

Generally, when completing the online application if your nominated account contact person is the account holder, we will automatically create a verified InvestorHUB login for your client. However, in some cases we may not be able to verify, or you may want to create InvestorHUB logins for other account holders.

You can verify existing InvestorHUB logins or create new InvestorHUB logins for your client by through Product & Forms > Forms > Pay Anyone Facility Terms and Conditions and InvestorHUB Login Form in AdviserHUB.

How can my client update their InvestorHUB login details?

Your client can update their InvestorHUB login details by hovering over the login profile in the top right corner of InvestorHUB and selecting Update Login Contact Details. Here the client can update their details including their mobile number.

How can my client enrol in multi-factor authentication?

Your client can enable multi-factor authentication on their InvestorHUB login by hovering over the login profile in the top right corner of InvestorHUB and selecting Manage Multi-Factor Authentication.

Notifications

How is my client notified when consent is required?

When requesting consent from your client through the one-time passcode, your client is sent an SMS that contains the code and details of the request. They must provide this code to you so you can authorise and complete the request.

When requesting consent from your client through InvestorHUB, your client is sent an SMS notifying them of a new request in InvestorHUB. Your client will have the ability to view the details of the request and approve or reject the request in InvestorHUB.

How am I notified when using Pay Anyone that my client has consented to the request?

For requests using the one-time passcode, your client will need to provide you with the code to complete the request.

For requests using InvestorHUB, whether the request is approved, rejected, or expired will be recorded as an account activity. Additionally if further actions may be required from you such as in the event that the request is rejected or expired, you will be notified immediately via email.

DISCLAIMER: HUB24 Custodial Services Ltd (ABN 94 073 633 664, AFSL 239 122) (‘HUB24’) is the operator of HUB24 Invest (an investor directed portfolio service) and Margaret Street Administration Services Pty Ltd ABN 63 163 681 678 (‘MSAS’), a related body corporate of HUB24 is the administrator of Xplore Wrap ARSN 163 784 432 (‘XPW’) and Xplore Managed Accounts ARSN 128 111 857 (‘XMA’) (each an investor directed portfolio service-like) has jointly issued this document. The information contained in this document is general information only and not financial product or tax advice. It has been prepared without taking account of, or considering, any person’s objectives, financial situation, needs or circumstances. Accordingly, before acting on any of this information, the viewer should consider the appropriateness of the information having regard to their or their clients’ objectives, financial situation and needs. Disclosure documents, including the HUB24 Invest Guide for HUB24 Invest, the product disclosure documents and/or material event notice (as applicable) for XPW and XMA, as well as the relevant target market determinations(‘TMD’) which considers the design of this product, including its key attributes, and describes the class of consumer for whom this product is likely to be appropriate for, are available at www.hub24.com.au, or by calling 1300 854 994. It is important to consider these documents before making any decision to acquire or hold a financial product.

Past performance is not indicative of future performance. No representations or warranties express or implied, are made as to the accuracy or completeness of the information contained in this document. We do not accept liability for any damage sustained as a result of viruses, data corruption, errors, omissions, or other interference in respect of any information in this document. To the maximum extent permitted by law, neither HUB24 or MSAS, nor their directors, employees or agents accept any liability for any loss arising in relation to this document. This content must not be copied or reproduced without the prior written consent of HUB24 or MSAS.
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