Rent Deduction Scheme (RDS) deductions 108-08130000

All changes to a business’s bank account must be requested in writing from an Authorised Officer.

The written request must contain:

• the business name
• the new bank account details including name, BSB and account number
• the new date on which the new account will be operational
• reason for the change. Note: it is important to make sure there has been no other changes, such as machinery of government changes

The Business Assurance and Compliance team must contact the Authorised Officer by telephone, using the contact details we have on record (not those in the written request to change bank account details) to confirm that the request is legitimate before taking any further action.

Note: 2 day delivery payments, for example pension payments, stripped the business day before the change, will still deliver to the previous bank account.

Did the Authorised Officer confirm that the bank account change is legitimate?

• Yes, go to Step 2
• No, bank account details cannot be changed. Procedure ends here

Go to the OSBS screen and select the line with the bank details to be updated. Press [Enter].

If the business is approved for more than one service reason, the OSBS screen will display bank account details for each service reason. Each service reason can have a separate bank account. The Service Officer can also group service reasons to hold one bank account. If multiple bank accounts exist and need multiple updates, each service reason must be selected separately.

Do not end date the old bank account details. If an end date is added, any customers with current deductions to the business for that service reason will be unlinked and the deduction cancelled.

New bank account details can only be added on the day they are effective, for example, today’s date. Past or future dates cannot be entered.

• Start date: if details are present, overstrike with today's date
• Financial Inst Code: key the bank’s BSB. The FI Type Code: field automatically prepopulates
• Account Number: enter the bank account number
• Account Title: enter the account name
• Abbrev Account Title: enter the abbreviated name
• DOR: code the relevant date
• Source: code with relevant option
• Action: field, code with 'I' for 'Insert'

Go to the Assessment Results (AR) screen. The activity will complete and finalise the on the Activity List (AL) screen.

DOC the business record with the details of the update, or annotate the existing DOC if appropriate.

Email the Authorised Officer to advise the bank account details are updated. Procedure ends here.