Corporate Online. Using Term Deposits

Transcription

1 Corporate Online. Using Term Deposits

2 About this Guide About Corporate Online Westpac Corporate Online is an internet-based electronic platform, providing a single point of entry to a suite of online transactional services specifically designed for major Australian, New Zealand and international corporations and government bodies. By working closely with customers like you, Westpac has developed Corporate Online as a portal environment that delivers greater control, productivity and flexibility to your business. Control how your organisation uses Corporate Online, including which applications and features staff members can use and which accounts and services they have access to. Increase productivity by getting straight to work with Corporate Online s easy-to-use interface and simple workflows. Use Corporate Online s flexibility to create a setup that matches your business needs and can grow and change as your business does. Security Note Corporate Online employs a best of breed security model, using a range of protective technologies to guard your organisation s information and to assist you in better managing the risks of fraudulent activity. These include 128bit encryption and SecurID Tokens For detailed information on Corporate Online s extensive security features, please ask your Westpac relationship manager. This user guide provides information for your use of this product within Westpac Corporate Online. Certain words used throughout the user guide may have a defined meaning in the Glossary. Copyright 2018 Westpac Banking Corporation ABN AFSL and Australian credit licence Using Term Deposits Page 2 of 42

3 About this Guide Contents About this Guide... 4 Introducing Term Deposits... 5 Term Deposits cut off times... 5 Lodgement date for Term Deposits... 6 Viewing term deposits via Accounts... 6 Online Deposits features... 6 Authorisation limits... 7 Offices not required... 7 Authorisation and Workflows in Online Deposits... 8 Opening Term Deposits Procedure: Opening a term deposit Working with Quotes and Opening Term Deposits Procedure: Getting [and accepting] an inte rest rate quote Procedure: Resuming and accepting a quote saved earlier today Procedure: Entering details to open a term deposit Procedure: Authorising a request to open a term deposit Procedure: Amending a request to open a deposit Procedure: Deleting a request to open a deposit Working with Maturity Instructions Procedure: U pdating maturi ty instruc tions for a te rm deposit Procedure: Authorising maturity instructions Procedure: Amending maturity instructions Procedure: Deleting maturity instructions Setting Deposit Preferences Procedure: Setting Deposits Preferences Basic Skills: Online Deposits Printing with Print preview Entering dates with the calendar Navigating a list screen using the grey navigation links Glossary Using Term Deposits Page 3 of 42

4 About this Guide About this Guide This guide describes how to use the Term Deposits functionality of Westpac Corporate Online. It is one of a suite of guides that cover the wide range of applications and features that are available through Corporate Online. Where can I find a copy of this guide? The most up-to-date versions of this and other Corporate Online user guides can be found on the User Guides page of Corporate Online. Click on a link to display the user for that application If you must print this document, always download the PDF from Corporate Online then print from that: don t print a saved PDF or photocopy a paper copy as it may not be current. What else should I read? What if I m in a hurry? We strongly recommend you read Introducing Corporate Online, which covers topics such as logging on and security. Click Corporate Online on the User guides screen. You should also read the Product Disclosure Statements and terms and conditions relevant to the products you access via Corporate Online. Term Deposits opened via Corporate Online are governed by the Westpac Term Deposits & Farm Management Deposits Terms and Conditions. If you re keen to get started with, turn to Opening Term Deposits on page 10. This covers all the steps for getting a quote for a term deposit interest rate and accepting it, creating a request to open a term deposit, and authorising your request. Using Term Deposits Page 4 of 42

5 Introducing Term Deposits The Online Deposits application gives you the ability to open and manage your term deposits online. There are four stages to opening a term deposit: Get a quote for a term deposit interest rate and accept that quote. Create a request to open a term deposit based on the accepted quote. Authorise the term deposit request. Fund the term deposit on the lodgement date. Provided you have fully funded the term deposit by the agreed lodgement date, Westpac opens the term deposit. Time then passes while the term deposit matures. Provide maturity instructions for current and maturing term deposits. Stages, and of opening a term deposit online must all be completed within the term deposit cut-off times. Term Deposits cut off times Business and Commercial Banking customers: Task Requesting a quote for a new Term Deposit Requesting a quote for a maturing Term Deposit Authorising a new term deposit Authorising maturity instructions Cut-off time For a Lodgement date of today, rates can be requested from 08:30 AEST/AEDT and must be accepted by 17:00 AEST/AEDT. Rates accepted after the cut-off time the Lodgement date will be for the next business day. Rates may be obtained from the maturity date up to 6 business days after the maturity date. Rates can be requested from 08:30 AEST/AEDT and must be accepted by 23:59 AEST/AEDT on the date the quote was issued. New Term deposits must be fully authorised by 17:30 AEST/AEDT on the Lodgement date. Maturity instructions (with quotes) must be fully authorised by 23:59 AEST/AEDT. Westpac Institutional Bank customers: Task Requesting a quote for a new Term Deposit Cut-off time Rates can be requested from 08:30 AEST/AEDT and must be accepted by 14:45 AEST/AEDT on the date the quote was issued (even though the Lodgement date may be up to 2 business days into the future) Using Term Deposits Page 5 of 42

6 Task Requesting a quote for a maturing Term Deposit Authorising a new term deposit Authorising maturity instructions Cut-off time Rates may be obtained 5 business days prior and up to and including the maturity date from 08:30 AEST/AEDT and must be accepted by 14:45 AEST/AEDT on the date the quote was issued. New Term deposits must be fully authorised by 15:00 AEST/AEDT on the Lodgement date. Maturity instructions (with quotes) must be fully authorised by 15:00 AEST/AEDT. Lodgement date for Term Deposits If the quote is requested on a Monday to Friday before the cut off time, this will be the lodgement date of the term deposit. If the quote is requested on a Weekend, National Public Holiday or after the cut off time the earliest available lodgement date will be the next business day. Viewing term deposits via Accounts In addition to being able to view them in the Online Deposits application, you can also view your current term deposits in the Accounts application and include them in your account group balances. Term deposits created online are added automatically to your organisation s Corporate Online set-up. Before they can be viewed in the Accounts application, your Corporate Online administrator must assign them to at least one office and at least one Australian dollar account group that you have access to view. See Administering Corporate Online for details on how to do this. Online Deposits features The Online Deposits functionality is broken down into a number of features to allow your organisation to manage which tasks can be performed by which users (according to their job role). The features are: Feature (as allocated in Administration) Get quotes for term deposits which allows you to Get a quote for a term deposit interest rate and accept that quote to create a request (but not enter details to complete that request). see Procedure: Getting [and accepting] an interest rate quote on page 15 see Procedure: Resuming and accepting a quote saved earlier today on page 18. Using Term Deposits Page 6 of 42

7 Feature (as allocated in Administration) Manage term deposits Disburse principal to other bank at maturity which allows you to Use the Manage screens to create a request to open a term deposit for a quoted rate, to amend or delete unauthorised requests, and to provide maturity instructions for term deposits. see Procedure: Entering details to open a term deposit on page 19 see Procedure: Authorising a request to open a term deposit on page 22. see Procedure: Updating maturity instructions for a term deposit on page 27 see Procedure: Authorising maturity instructions on page 31 Allows the principal of a term deposit to be disbursed to an account not linked to your Corporate Online service at maturity see Procedure: Updating maturity instructions for a term deposit on page 27 Authorisation limits These features are allocated to users by your organisation s Corporate Online administrators, who also allocate the role each will play (e.g. creator, creator / authoriser, or authoriser). Authorisation limits apply only to the authorisers and where they are assigned the Disburse principal to other bank at maturity feature. They are applied only when authorising term deposit maturity instructions that include a request to disburse the principal of the term deposit to an account not linked to your Corporate Online service. Each authoriser has a principal disbursement daily limit (the maximum principal amount that they can authorise to an account not linked to your Corporate Online service on any day) and a principal disbursement transaction limit (the maximum principal amount they can authorise to an account not linked to your Corporate Online service for any single term deposit) Authorisation limits can be adjusted by your Corporate Online administrators in Administration. Offices not required Unlike most Corporate Online applications, the Online Deposits application does not use Offices. All quotes and deposits are visible to all users. Using Term Deposits Page 7 of 42

8 Authorisation and Workflows in Online Deposits Corporate Online requires that requests to open term deposits and create maturity instructions must be authorised. To manage this authorisation, Corporate Online uses the concept of a workflow. A typical workflow might look like this. How many steps make up a workflow? The number of steps required to create and authorise a request is determined by the authorisation model chosen by your organisation for Online Deposits. There are two authorisation models on offer: single authorisation dual authorisation. Single Authorisation = 2 steps Single is the simplest authorisation model, in business terms. Each request must be created, then authorised (once), at which time Corporate Online accepts it for processing. Dual Authorisation = 3 steps Dual is the most robust and flexible authorisation model. Each request is created, then goes through a two-stage authorisation process before being accepted for processing. Which model are we using? Your Corporate Online administrator can tell you which authorisation model your organisation is using for Online Deposits by running an active profile report for your organisation (see Administering Corporate Online, available from the User Guides page under Administration). Who can perform which steps in a workflow? Corporate Online allows your organisation to restrict what steps users can perform in the Online Deposits workflow. This defines each user s role. There are two main roles in a workflow: creator authoriser. Using Term Deposits Page 8 of 42

9 In addition, your organisation can determine if individual users can play more than one role in a particular workflow (i.e. can they be both a creator and authoriser) and whether users performing both roles are permitted to authorise the tasks they themselves have created (called self-authorising ). Your user role is controlled by your organisation s Corporate Online administrators. You may have a different role in other applications (e.g. Accounts, Administration). Term deposit request status and workflow Each term deposit request in a workflow has a status that tells you where it is in the workflow. The request workflow and statuses can be summarised as follows: Only rejected, incomplete, or unauthorised requests may be amended or deleted. Using Term Deposits Page 9 of 42

10 Opening Term Deposits There are four stages to opening a term deposit via Corporate Online: Getting and accepting a quote for a term deposit interest rate Creating a request to open the term deposit Authorising the term deposit request Fund the term deposit on the lodgement date. Provided you have fully funded the term deposit by the agreed lodgement date, Westpac opens the term deposit. The new term deposit will be added automatically to your organisation s Corporate Online set-up. Before it can be viewed in the Accounts application, your Corporate Online administrator must assign it to at least one office and at least one Australian dollar account group that you have access to view. If you have the appropriate access, you can perform stages, and as one procedure (see Procedure: Opening a term deposit below). Alternatively, you can perform each stage separately (see Working with Quotes and Opening Term Deposits on page 15). Note that if you accept an interest rate quote you are not obliged to continue to open a term deposit, but accepting an interest rate quote guarantees the rate for the rest of the day until cut off. Rates that have not been accepted may change during the day. Procedure: Opening a term deposit Use this procedure to open a term deposit. To perform this procedure you need: creator access to the Deposits > Get quotes for term deposits feature. creator access to the Deposits > Open new term deposits feature. authoriser access to the Deposits > Open new term deposits feature. Getting and accepting a quote for a term deposit interest rate Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Term deposit quotes. Corporate Online displays the Manage term deposit quotes List of quotes screen 2. Click Get a new quote. Using Term Deposits Page 10 of 42

11 Corporate Online displays the Manage term deposit quotes Enter quote details screen 3. Enter the details of the term deposit you want an interest rate quote for Field Customer name Deposit held as security? Lodgement date Deposit amount Maturity Notes Select the customer name for the term deposit Select if this term deposit will be held as security for a loan Corporate Online displays the earliest available lodgement date. Where available, use the calendar to change the lodgement date. Remember you must fund the term deposit on the lodgement date. Enter the amount of the term deposit in Australian dollars. Enter a deposit amount of $5, or more. Please note that a maximum limit may apply when opening a term deposit online. If Corporate Online cannot provide a quote, it will display a message to contact your Westpac relationship manager. Specify when you want the term deposit to mature by either selecting a term or specifying a maturity date. Term OR Date To specify a term, select it from the drop down menu. Corporate Online will calculate the maturity date and display it. If the date falls on a weekend or national public holiday, Corporate Online displays a warning message. Use the calendar button to adjust the maturity date to select a valid week day for the maturity date. Use the calendar icon to set the maturity date for the term deposit. Interest payments Term deposits must mature at least 7 days after the lodgement date. Please note that a maximum maturity term may apply to the term deposit. Where available, select when you want to receive payment. Using Term Deposits Page 11 of 42

12 then click Get a quote now. Corporate Online displays the Manage term deposit quotes - New deposit quote confirmation screen. 4. Perform one of the following actions: To accept the rate quote and create a request to open a term deposit, click Accept rate. Corporate Online displays the Open a new term deposit Enter deposit details screen. Please go on to step 5. To save the term deposit details you have entered for action later today, click Save and resume later. The interest rate saved for this term deposit quote is an indicative rate only. You will have to obtain a new interest rate quote to accept and continue work. This must be done before the quotes cut-off time. To continue working on this quote, see Procedure: Resuming and accepting a quote saved earlier today on page 18. Creating a request to open a term deposit 5. Enter the details of the term deposit Step Field(s) Notes Deposit description Address for correspondence Deposit held as security? Deposit held in trust? Enter a description for the deposit for your own records. Enter the address for the term deposit you want to open. This address defaults to the registered address for your Corporate Online organisation. If this registered address is incorrect, please contact your Westpac relationship manager to update the organisation s details, as well as entering the correct address on this screen. If this term deposit will be held as security for a loan, select Yes and enter the loan details. If this term deposit is to be held in trust, select Yes and enter the trustee s details. Using Term Deposits Page 12 of 42

13 Step Field(s) Notes Exemption/ TFN/ ABN then click Continue. Enter your organisation s tax file number, exemption or Australian Business number, as applicable. Not entering a number may have tax implications. 6. Enter the remaining particulars of the term deposit Step Field(s) Notes Account to receive interest Funding options Where interest is paid during the term of investment, enter the details (branch number, account number, and account name) of the account that is to receive interest payments. Select to save the account for future use with the deposit. If this step doesn t appear, step 7 (below) becomes step 6. Choose how you intend to fund this term deposit. If you choose to debit a Westpac account, select an account from the list. This list includes all Australian dollar accounts that are listed by your organisation in Corporate Online for payments access. For more information on funding options, click the link included on this screen. then click Continue. Corporate Online displays the confirmation screen. Using Term Deposits Page 13 of 42

14 Authorising a request to open term deposit 7. Review the term deposit you have just created, then click Authorise now at the bottom of the screen. If the button doesn t appear, you don t have authoriser access. Corporate Online updates the deposit s status depending on the authorisation model used by your organisation for Term Deposits. Authorisation model chosen for Term Deposits Single authorisation Action Corporate Online updates the deposit s status to Bank accepted, then displays the funding instructions screen. Dual authorisation Follow the funding instructions displayed. Use the Print Preview button to print them, if required (see Printing with Print preview on page 36). If you do not fund the term deposit on the lodgement date it will not be created. Corporate Online updates the deposit s status to Partially authorised. This deposit must now be fully authorised. See Procedure: Authorising a request to open a term deposit on page 22. Using Term Deposits Page 14 of 42

15 Working with Quotes and Opening Term Deposits The four stages to opening a term deposit via Corporate Online can be performed separately by using the following procedures: Opening a Term Deposit Getting and accepting a quote for a term deposit interest rate Creating a request to open the term deposit Authorising the term deposit request. Fund the term deposit on the lodgement date Relevant procedures See Procedure: Getting [and accepting] an interest rate quote on page 15 See Procedure: Resuming and accepting a quote saved earlier today on page 18 See Procedure: Entering details to open a term deposit on page 19 See Procedure: Authorising a request to open a term deposit on page 22 Funding is not managed by the Term Deposit application. Your access may restrict which of these procedures you can perform yourself. Provided you have fully funded the term deposit by the agreed lodgement date, Westpac opens the term deposit. If you have the appropriate access, you can perform the first three stages as one procedure (see Procedure: Opening a term deposit on page 10). Procedure: Getting [and accepting] an interest rate quote Use this procedure to get a quote for a term deposit interest rate and save the details for working on a later today. To perform this procedure you need creator access to the Deposits > Get quotes for term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Term deposit quotes. Corporate Online displays the Manage term deposit quotes List of quotes screen 2. Click Get a new quote. Corporate Online displays the Manage term deposit quotes Enter quote details screen Using Term Deposits Page 15 of 42

16 3. Enter the details of the term deposit you want an interest rate quote for Field Customer name Deposit held as security? Lodgement date Deposit amount Maturity Notes Select the customer name for the term deposit Select if this term deposit will be held as security for a loan. Corporate Online displays the earliest available lodgement date. Where available, use the calendar to change the lodgement date. Remember you must fund the term deposit on the lodgement date. Enter the amount of the term deposit in Australian dollars. Enter a deposit amount of $5, or more. Please note that a maximum limit may apply when opening a term deposit online. If Corporate Online cannot provide a quote, it will display a message to contact your Westpac relationship manager. Specify when you want the term deposit to mature by either selecting a term or specifying a maturity date. Term To specify a term, select it from the drop down menu. OR Corporate Online will calculate the maturity date and display it. If the date falls on a weekend or national public holiday, Corporate Online displays a warning message. Use the calendar button to adjust the maturity date to select a valid week day for the maturity date. Date Use the calendar icon to set the maturity date for the term deposit. Term deposits must mature at least 7 days after the lodgement date. Please note a maximum maturity term may apply to the term deposit. Interest payments Where available, select when you want to receive payment. Using Term Deposits Page 16 of 42

17 then click Get a quote now. Corporate Online displays the Manage term deposit quotes New deposit quote confirmation screen. 4. Perform one of the following actions: To accept the rate quote and create a request to open a term deposit, click Accept rate. Corporate Online creates a request to open a term deposit. To continue working with this deposit, see Procedure: Entering details to open a term deposit on page 19 To save the term deposit details you have entered for action later today, click Save and resume later. Corporate Online saves the details of the quote, then displays the Manage term deposit quotes - List of quotes screen The interest rate saved for this term deposit quote is an indicative rate only. You will have to obtain a new quote to accept and continue work on the request. This must be done before the quotes cut-off time. To continue working with this quote, you will have to get another quote for the details entered. See Procedure: Resuming and accepting a quote saved earlier today on page 18. Using Term Deposits Page 17 of 42

18 Procedure: Resuming and accepting a quote saved earlier today Use this procedure to get a new quote based on details saved earlier today, then accept the quote given to create a request to open a term deposit. To perform this procedure you need creator access to the Deposits > Get quotes for term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Term deposit quotes. Corporate Online displays the Manage term deposits quotes List of quotes screen 2. Select the details of the quote you saved earlier, for example: then click Resume an existing quote. Corporate Online displays the Manage term deposit quotes Enter quote details screen 3. Amend the term deposit details if required, then click Get a quote now. Corporate Online displays the Manage term deposit quotes New deposit quote confirmation screen This screen shows the revised interest rate quote. 4. To accept the rate quote and create a request to open a term deposit, click Accept rate. Corporate Online displays the Open a new term deposit screen. Using Term Deposits Page 18 of 42

19 5. Click Save and resume later. Corporate Online saves the details of the quote, then displays the Manage pending tasks - tasks not completed screen A request to open a term deposit must be completed and fully authorised by the authorisation cut-off time. To continue working with this deposit, see Procedure: Entering details to open a term deposit on page 19. Procedure: Entering details to open a term deposit Use this procedure to enter the details of a term deposit you saved earlier today or for which you accepted a rate quote earlier today. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks. Corporate Online displays the Manage pending tasks Tasks not completed screen. 2. Select New term deposits as the type of task you want to update, 3. Select the details of the term deposit you accepted the quote for earlier, for example: Using Term Deposits Page 19 of 42

20 then click Amend. Corporate Online displays the Open a new term deposit screen. 4. Enter the details of the term deposit Step Field(s) Notes Deposit description Address for correspondence Deposit held as security? Deposit held in trust? Exemption / TFN / ABN then click Continue. Enter a description for the term deposit for your own records Enter the address for the term deposit you want to open. This address defaults to the registered address for your Corporate Online organisation. If this registered address is incorrect, please contact your Westpac relationship manager to update the organisation s details, as well as entering the correct address on this screen. If this term deposit will be held as security for a loan, select Yes and enter the loan details. If this term deposit is to be held in trust, select Yes and enter the trustee details. Enter your organisation s tax file number, exemption or Australian Business number, as applicable. Not entering a number may have tax implications. 5. Enter the remaining particulars of the term deposit Step Field(s) Notes Account to receive interest Funding options Where interest is paid during the term of investment, enter the details (branch number, account number, and account name) of the account to receive interest payments. Select to save the account for future use with the deposit. If this step doesn t appear, step 7 (below) becomes step 6. Choose how you intend to fund this term deposit. If you choose to debit a Westpac account, select an account from the list. This list includes all Australian dollar accounts that are listed by your organisation in Corporate Online for payments access. For more information on funding options, click the link included on this screen. Using Term Deposits Page 20 of 42

21 then click Continue. Corporate Online displays the confirmation screen. This term deposit request must now be authorised by the cut-off time. To authorise this deposit, see Procedure: Authorising a request to open a term deposit on page 22. Using Term Deposits Page 21 of 42

22 Procedure: Authorising a request to open a term deposit Use this procedure to authorise a term deposit created earlier today. To perform this procedure you need authoriser access to the Deposits > Manage term deposits feature. 1. From the left-hand navigation menu, select Deposits > Authorise. Corporate Online displays the Authorise Tasks requiring authorisation screen. 2. Select New term deposits as the type of task to authorise. 3. Select the term deposit to authorise, for example: then click Review before authorising. Corporate Online displays the Term deposit details screen. 4. Review the term deposit particulars, then click Authorise now. Corporate Online updates the deposit s status depending on the authorisation model used by your organisation for Term Deposits and the previous status of the deposit. Authorisation model Previous status Action Single authorisation Unauthorised Corporate Online updates the deposit s status to Bank accepted. It then displays the funding instructions screen. Go to step 5. Using Term Deposits Page 22 of 42

23 Authorisation model Previous status Action Dual authorisation Unauthorised Partially authorised Corporate Online updates the deposit s status to Partially authorised. This term deposit must now be fully authorised by another authoriser (using this same procedure). Corporate Online updates the term deposit s status to Bank accepted. It then displays the funding instructions screen. Go to step Once a term deposit request is fully authorised, Corporate Online displays the Authorise Funding instructions screen. Follow the funding instructions displayed. Use Print Preview to print them, if required (see Printing with Print preview on page 36). You must fund the term deposit on the lodgement date. Using Term Deposits Page 23 of 42

24 Procedure: Amending a request to open a deposit Use this procedure to amend an incomplete request to open a deposit. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks. Corporate Online displays the Manage pending tasks Tasks not completed screen. 2. Select New term deposits as the type of task to amend. 3. Select the details of the deposit you want to delete, for example: then click Amend. Corporate Online displays the Open a new term deposit screen. 4. Amend the details of the term deposit (see step 4 of Procedure: Entering details to open a term deposit on page 20), then click Continue. 5. Enter the remaining details of the term deposit Corporate Online displays the confirmation screen. Using Term Deposits Page 24 of 42

25 This term deposit request must now be authorised by the cut-off time. To authorise this deposit, see Procedure: Authorising a request to open a term deposit on page 22. Procedure: Deleting a request to open a deposit Use this procedure to delete a request to open a deposit. Deleted deposits cannot be authorised. Once a term deposit has been established, you cannot amend or delete it via Corporate Online. Note that Corporate Online automatically deletes incomplete, unauthorised, and partially authorised deposits overnight: you do not need to manually delete them, unless you want to prevent them being completed or authorised. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks. Corporate Online displays the Manage pending tasks Tasks not completed screen. 2. Select New deposits as the type of task to delete. 3. Select the details of the deposit you want to delete, for example: then click Delete. Using Term Deposits Page 25 of 42

26 Corporate Online displays the Delete term deposit confirmation screen. 4. Check this is the deposit you want to delete then click Delete now. Corporate Online will remove the deleted deposit overnight. Using Term Deposits Page 26 of 42

27 Working with Maturity Instructions The final stage in the life of a term deposit is updating the maturity instructions covering how the principal and interest are to be disbursed or reinvested. You will receive a secure message through Corporate Online when maturity instructions are able to be provided on a maturing term deposit. If you are reinvesting any funds, Corporate Online will provide a quote for the new term deposit, which you will need to accept to complete the maturity instructions. You may update the maturity instructions for any term deposit you can view on the Manage term deposits screen, even if the term deposit was not created via Corporate Online. Maturity instructions can be provided by Business and Commercial Banking customers from 2 business days prior to the maturity date and up to 6 business days after maturity. Maturity instructions can be provided by Westpac Institutional Bank customers up to 5 business days prior to the maturity date and on the maturity date. Procedure: Updating maturity instructions for a term deposit Use this procedure to update the maturity instructions for a current term deposit. Only one task for updating maturity instructions can exist for a particular term deposit at a time. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Term deposits. Corporate Online displays the Manage term deposits screen. 2. Select the term deposit you want to supply maturity instructions for then click the Update maturity instructions button. If an unfinished term deposits maturity instructions task already exists, Corporate Online displays a warning dialog. If you want to proceed, amend the existing maturity instructions task as follows: (a) Select Deposits > Manage > Pending tasks. Using Term Deposits Page 27 of 42

28 (b) Select a task type of Term deposit maturity instructions. (c) Select the term deposit you want to supply maturity instructions for, then click Amend. Corporate Online displays the Enter term deposit maturity instructions screen. 3. Enter your maturity instructions Field Instruction at maturity Reinvestment amount Additional funds to add Account to debit for additional funds Maturity Notes Select your instructions from the drop-down list. Options include: Reinvest all principal and interest* Reinvest principal only Reinvest part principal* Disburse all principal plus all interest* *Not available where Term deposit is held by the bank as security for a loan. The choice you make here affects which additional fields you will see on this screen. If you have chosen to reinvest some funds, specify the amount you want to reinvest of a minimum $5, This is not applicable if the funds are held as Security If you have chosen to reinvest all of the principal specify any additional funds you want to add to the deposit. If you have chosen to add more funds to the deposit, select an account from the list for the Bank to withdraw the funds from. If you have chosen to reinvest some funds, specify when you want the term deposit to mature (minimum term is 7 days) by either selecting a term or specifying a maturity date. Term OR To specify a new term, select it from the drop down menu Corporate Online will calculate the maturity date and display it. If the date falls on a weekend or national public holiday, Corporate Online displays a warning message. Use the calendar button to adjust the maturity date to select a valid week day for the maturity date. Using Term Deposits Page 28 of 42

29 Field Notes Date Use the calendar icon to set the new maturity date for the term deposit. Interest payments Account to receive principal Account to receive interest Term deposits must mature at least 7 days after the lodgement date. Please note that a maximum maturity date / term may apply to the term deposit Where available, select when you want to receive payment. If you have chosen to disburse some or all of the principal, specify the account where the principal to be disbursed should be transferred on maturity. Either select an account from the list or enter the details (branch number, account number, and account name) of the account to receive the principal where available. Select to save the account for future use with the deposit. If you have chosen to disburse some or all of the interest, specify the account where the interest to be disbursed should be transferred on maturity. Either select an account from the list or enter the details (branch number, account number, and account name) of the account to receive the interest. Select to save the account for future use with the deposit. then click Continue. 4. If you have chosen to reinvest some funds, Corporate Online displays details of the interest rate quote along with any other rates that may be applied to the reinvestment amount. Review and select (where applicable) the interest rate to apply to the reinvestment amount, click Accept rate. Using Term Deposits Page 29 of 42

30 Corporate Online displays the confirmation screen. 5. Review the instructions you have just created, then click Authorise now at the bottom of the screen. If the button doesn t appear, you don t have authoriser access. Corporate Online updates the maturity instructions status depending on the authorisation model used by your organisation for Term Deposits. Authorisation model Single authorisation Dual authorisation Action Corporate Online updates the maturity instructions status to Bank accepted. These instructions will be used when the term deposit matures (unless subsequently updated) Corporate Online updates the maturity instructions status to Partially authorised. This deposit must now be fully authorised by another authoriser. See Procedure: Authorising maturity instructions on page 31. Using Term Deposits Page 30 of 42

31 Procedure: Authorising maturity instructions Use this procedure to authorise maturity instructions for a term deposit. To perform this procedure you need authoriser access to the Deposits > Manage term deposits feature. 1. From the left-hand navigation menu, select Deposits > Authorise. Corporate Online displays the Authorise Tasks requiring authorisation screen. 2. Select Term deposit maturity instructions as the type of task to authorise. 3. Select the term deposit to authorise, for example then click Review before authorising. Corporate Online displays the Term deposit maturity instructions screen. 4. Review the term deposit maturity instructions carefully, then click Authorise now. Corporate Online updates the maturity instructions status depending on the authorisation model used by your organisation for Term Deposits and the previous status of the maturity instructions. Authorisation model Previous status Action Single authorisation Unauthorised Corporate Online updates the maturity instructions status to Bank accepted. These instructions will be used when the term deposit matures (unless subsequently updated) Using Term Deposits Page 31 of 42

32 Authorisation model Previous status Action Dual authorisation Unauthorised Partially authorised Corporate Online updates the maturity instructions status to Partially authorised. These instructions must now be fully authorised by another authoriser (using this same procedure). Corporate Online updates the maturity instructions status to Bank accepted. These instructions will be used when the term deposit matures (unless subsequently updated) Using Term Deposits Page 32 of 42

33 Procedure: Amending maturity instructions Use this procedure to amend maturity instructions for a current term deposit that has not yet been fully authorised. Only one task for updating maturity instructions can exist for a particular term deposit at a time. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks. Corporate Online displays the Manage pending tasks Tasks not completed screen. 2. Select Term deposit maturity instructions as the type of task to amend. 3. Select the term deposit you want to supply maturity instructions for then click Amend. Corporate Online displays the Enter term deposit maturity instructions screen. 4. Amend your maturity instructions (see step 3 of Procedure: Amending maturity instructions then click Continue. 5. If you have chosen to reinvest some funds, Corporate Online displays details of the interest rate quote. To accept the rate quote and create a request to open a term deposit, click Accept rate. Using Term Deposits Page 33 of 42

34 Corporate Online displays the confirmation screen. These maturity instructions must now be authorised. To authorise these maturity instructions, see Procedure: Authorising maturity instructions on page 31. Procedure: Deleting maturity instructions Use this procedure to delete maturity instructions for a current term deposit that have not yet been fully authorised. To perform this procedure you need creator access to the Deposits > Manage term deposits feature. Start from anywhere in the Deposits application: 1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks. Corporate Online displays the Manage pending tasks Tasks not completed screen. 2. Select Term deposit maturity instructions as the type of task to delete. 3. Select the term deposit you want to delete then click Delete. Corporate Online displays the Delete maturity instructions confirmation screen. 4. Check these are the instructions you want to delete then click Delete now. Corporate Online will remove the deleted instructions overnight. Using Term Deposits Page 34 of 42

35 Setting Deposit Preferences Set preferences allows you to set the default values displayed by Corporate Online Deposits to the screens, you use the most. This can save you time and hassle. Each user sets their own preferences. Preferences must be set for each Corporate Online application (e.g. Payments, Accounts) individually. Procedure: Setting Deposits Preferences Use this procedure to set your individual preferences for the Deposits application. All users with access to the Deposits application can perform this procedure. Start from anywhere in the Deposits application. 1. From the left-hand navigation menu, select Deposits > Set preferences. Corporate Online displays the Set preferences Deposits preferred settings screen. 2. Set your preferences by selecting them from the drop down lists displayed. Heading Notes on fields Select a Deposits screen from the drop down list. Corporate Online will display this screen each time you navigate to the Deposits application. 3. Click Submit. Corporate Online updates your preferences. This will not affect the preferences of any other user or any of your preferences for other applications (e.g. Payments). Using Term Deposits Page 35 of 42

36 Basic Skills: Online Deposits This section introduces some of the basic skills that apply to many of the screens you will encounter when using the Deposits application. These basic skills can be used anywhere the feature (e.g. the Print preview button) appears. They may not be referred to specifically in the procedures. Printing with Print preview Many of the screens in the Deposits application include a Print Preview button to allow you to preview then print the details displayed on the screen. To print: 1. Click Print preview. Corporate Online pops up a print preview window. For example: 2. Click Print this page. Your computer pops up a Print dialog. For example: 3. Make the appropriate printer selections and adjustments, then click the Print button. Your computer should now print the previewed information. 4. Click Close. Using Term Deposits Page 36 of 42

37 Entering dates with the calendar The only way to enter a date into most Corporate Online screens is by using the pop-up calendar. Using the calendar ensures you won t enter dates that are inappropriate for the context of the screen, e.g. by not allowing a term deposit to mature on a weekend or Australian national public holiday. To use the calendar to enter a date: 1. Click on the Calendar icon to the right of the date you want to alter. For example: Corporate Online displays a calendar pop-up window. For example: The colour of the individual days on the calendar tells you whether they are appropriate for the context of the screen you are working on. The calendar takes into account how far in the past or future a date can be set and most Australian national public holiday restrictions. 2. If required, change the month by using the arrows or the drop-down box at the top of the pop-up window. For example: 3. Select a valid date by clicking on a red or dark grey date. For example: Corporate Online now displays the date selected. For example: Using Term Deposits Page 37 of 42

38 Navigating a list screen using the grey navigation links When Corporate Online displays lists of things (e.g. deposits), it does so in blocks of up to 20 items. At the bottom of such list is a grey band containing the links that allow you to navigate through the items in the list. For example: If a link cannot be used, it is greyed out. For example, if Corporate Online is displaying the first 20 deposits in the list, Start of list and Previous 20 are greyed out. If there are 20 or fewer deposits in the list, all the navigation links do not appear. To navigate the list: 1. Click on a navigation link. For example: Corporate Online redisplays this screen with the selected part of the list. Using Term Deposits Page 38 of 42

39 Glossary The following terms are used in the Corporate Online user guides. Adobe Reader Adobe Reader is a piece of software that allows you to view and print a PDF file. Adobe Reader is available for free from Adobe s website ( Application An application is a high level group of functionality offered by Corporate Online. Authorisation model An authorisation model defines how many users are required to authorise a particular type of task and what combinations of users are required for a successful authorisation. Authoriser Browser An authoriser is a user whose access allows them to perform the authorisation step of a workflow. Corporate Online verifies the identity of authorisers with a security token. A browser is a piece of software that allows you to view pages over the internet. BSB and account number BSB and account number identify an Australian domiciled bank account. The BSB is a six digit number that identifies the Bank, State and Branch (e.g ). The account number identifies the account. We always require both to correctly identify an account. Business day In Corporate Online, business day means any weekday (Monday to Friday) that is not a public holiday in the jurisdiction(s) relevant to the payment type or service. Term deposit requests are not processed if the weekday is an Australia-wide public holiday. Corporate Online administrator A Corporate Online administrator is a user within your organisation who has access to the Administration application and can manage the assignment of applications, features, accounts, and services to users and offices within your organisation. A Corporate Online administrator is empowered to verify the identity of users of Corporate Online within their organisation. Creator A creator is a user whose access allows them to perform the creation step of a workflow. Creator/authoriser A creator is a user whose authority level allows them to both create tasks in Corporate Online and to authorise tasks created in Corporate Online. If an organisation s authorisation model permits self-authorisation, a creator/authoriser can authorise tasks they themselves have created. Cut-off time A cut-off time is the time by which (a) a quote for a term deposit interest rate must be accepted or (b) a request to open a term deposit must be completed and fully authorised. The cut-off times for (a) and (b) are different. Dual authorisation Dual authorisation is an authorisation model that requires two users to authorise a particular type of task. Using Term Deposits Page 39 of 42

40 Feature Office A feature is a logical group of application functionality offered by Corporate Online. An office means a grouping within the organisation in a Corporate Online setup, for example, a department. An organisation may have multiple Offices. Organisation An organisation is the entity represented in a Corporate Online setup. Partially authorised A task that has been authorised by only one authoriser where the authorisation model set for the workflow is dual authorisation is said to be partially authorised. PDF PDF stands for Adobe Portable Document Format, a widely used format for printing and archiving documents. A PDF file is usually referred to as a PDF. PDFs can be viewed and printed with Adobe Reader. Self-authoriser Self-authoriser is a user who is permitted by the authorisation model to both create and authorise a particular type of task. Setup A setup is how a customer s business structure is established in Corporate Online to control access to information (e.g. account transactions), services, applications and features. Single authorisation Single authorisation is an authorisation model that requires only one user to authorise a particular type of task. Status Task Status is the attribute that identifies where a particular task (or sub-task) is up to in a workflow. A task is a piece of work managed by workflow (e.g. creating a request to open a term deposit). Unauthorised A task that has been created but not yet authorised is said to be unauthorised. User Workflow A user is an identifiable person registered to access Corporate Online whose identity has been verified either by the bank or a Corporate Online administrator. A workflow is a defined series of steps that a task must pass through to be completed correctly. Corporate Online uses workflows to manage the creation and authorisation of items deemed to be of value. For example, in Accounts, creating and authorising an accounts export schedule is managed with a workflow. Using Term Deposits Page 40 of 42