🛠️ Troubleshooting AUD Payments

Sending or receiving AUD payments can sometimes be challenging due to the wide range of policies, systems, and controls used by external banks. While our platform ensures smooth handling once funds are received, delays or errors often arise before the money reaches us.

❌ Incorrect Bank Details

Sending to the wrong account details is one of the most frequent causes of payment problems. Unfortunately, once a payment has been lodged, it cannot be stopped - this applies across all Australian banks.

The simplest way to prevent payments being sent to the wrong bank account is to double check the payment details before sending - this includes the BSB and account number before adding bank details for withdrawals, or confirming the transfer if depositing.

If a payment has been accidentally sent to the wrong bank details, the payment will be handled one of two ways, depending on the circumstances:

• If the details do not exist: The payment will bounce back to your account automatically. Allow up to 3 business days for this to occur.
• If the details do exist: The funds will clear into the wrong account.
  • Deposits (to the wrong VA): Contact the sending bank immediately to initiate a trace and recall.
  • Withdrawals (to the wrong account): Contact us right away so we can initiate the recall on your behalf. Alternatively, if you know the recipient, you may contact them directly to arrange return of the funds.

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What is a Trace and Recall?

A bank process to recover funds sent to the wrong account. The bank traces where the money went, then attempts a recall from the receiving bank. It isn’t guaranteed, fees apply, and acting quickly improves the chance of success.

🏦 Bank Policies

Some banks apply additional rules when it comes to payments involving cryptocurrency and digital assets. These may not always be clear until you attempt to make a transfer. Typical restrictions include:

• Transaction limits on how much you can send.
• Extra verification or security steps before releasing the funds.
• Complete refusal to process payments if flagged as crypto-related.

Unfortunately neither we, nor our banking partners have control over these restrictions. If they arise, the sender should contact their bank directly to raise the matter. If the bank refuses to resolve the issue, the only solution may be to use a different bank to complete your transfer.

⏳ Payment Processing Times

The speed of a deposit depends primarily on the senders bank and the rails it uses. Payments are either processed via NPP (1-2 minutes), or BECS (1-2 business days). Regardless of the method use, the bank may also apply additional reviews or delays before releasing the funds.

How to manage payment delays:

• For the avoidance of any doubt, we will notify you as soon as we receive your payment - whether it is cleared or held for review.
• If you have not received a notification from us, it means your bank has not yet processed the transfer.
• In such cases, your first point of contact should always be your bank.

📝 VA Names

All bank details issued for Virtual Accounts (VAs) under our service are registered to AUDC PTY LTD. Ensuring consistency with this name is essential for smooth processing. Important things to remember:

• Always include AUDC PTY LTD as the account holder when making deposits.
• Using any other name may cause your bank to hold or reject the payment.

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Transparency is Key

If you use our Gateway service or accept third-party customer payments, make sure your customers are aware of your relationship with AUDD to avoid confusion or using the wrong account name.