What to do if you’ve been asked to provide remittance advice
As a regulated financial institution, we have a legal obligation to monitor the movement of funds as they pass through the banking system to us. This means there may be times when our automated systems or team of experts place a temporary hold on an inbound payment, so checks can be done to confirm the source of funds.
Before you can receive your payment that has been held, we may ask you to provide us with a remittance advice to verify the source of funds for the money that is being transferred into your account.
For more information on how we collect, process and safeguard your personal data, please refer to our privacy policy.
FAQs
Source of funds means where the money has come from.
A remittance advice is a document that provides more information about where money being transferred into your account is coming from, such as income from employment, sale of an asset, or payment of an invoice.
Examples of a remittance advice include:
- A invoice
- Copy of a receipt or sales contract
- Employer payslip
Remittance advice typically includes more details about the:
- Person or organisation sending the money
- Person or organisation receiving the money
- Amount the payment is for
- Purpose of the payment
Normally we only require a copy of an invoice, sales receipt or payslip to prove the source of funds.
If we ask you to send us a remittance advice we will provide you with an address to send your documents to. Please include the Zempler reference number we provide along with the remittance advice.
If you don’t provide a remittance advice by the date requested, we will return the funds to the person or organisation that made the original payment.