Confirming your bank account details

To help protect your money, we need an approved bank document to accompany each initial payment request

This protects your money against:

• mistakes – incorrect bank details being passed to Prime Super
• fraud and theft – attempted deposit of super money into an account that isn't yours

Once we have this information on file, you don't need to provide it again unless the funds are being paid into a new bank account, or you have changed your name. 

If we have previously paid into an invalid/unacceptable bank account, we will not be able to do so again. We will ask you to provide a new valid bank account and statement for all future payments.

Any reference to ‘bank’ on this page refers to an Authorised deposit-taking institution (ADI). This includes building societies, credit unions and similar financial institutions.

Required documents

The documents you provide must be produced by your bank and include the following details:

• bank name
• BSB number
• account number
• account name - full name, initials only are not acceptable (a joint account requires the full names of both account holders).
  Family Trust Accounts and Business accounts are not acceptable.

Acceptable documents

You must provide one of the following documents:

• bank statement
• letter printed on bank letterhead with the required account details
• an interim bank statement produced with a teller’s stamp

Unacceptable documents

Some examples of documents that won’t be accepted include, but are not limited to:

• any document where the required details have been handwritten, even if a bank officer has written them (the bank must produce a document from their system to verify your account details)
• copies of your payslip
• a bank deposit slip
• a copy of your bank card or cheque book
• screenshot of account from the mobile app (as it does not reflect full name or bank name)

Acceptable account types:

• personal bank account (in member’s name or can be joint)
• savings account
• offset account
• personal bank account with overdraft facility
• mortgage account with redraw facility (excludes equity loans and line of credit)

Unacceptable account types:

• line of credit
• equity access or manager loans
• farm management accounts
• business accounts
• commercial overdraft

SMSF bank accounts:

When a self managed super fund (SMSF) is set up, a unique cash bank account in the SMSFs name is required, to be able to:

• manage the fund’s operations
• accept contributions
• accept rollovers of super
• accept income from investments.

For rollovers to an SMSF, the bank statement provided must list the super fund name and cannot be a business bank account.

Please note: an SMSF can have multiple bank accounts, for example, business bank accounts, cash management accounts, or share trading accounts, however, not all of them can accept rollovers and contributions.