Payment Options

Payment Options

These are the three Payment Options for automating Super Payments in Beam

1. Direct Debit;

2. Direct Credit (EFT);

3. BPAY.  

Please note that Beam does not accept international transfers for batch payments. They do not have a SWIFT Code.

Direct Debit

If you selected direct debit as the payment option, you will be required to select the bank account you would like the funds to be debited to. 

• If you submit the contribution before 3.30pm AEST on a business day, Beam will debit the nominated account on that day, if you submit the contribution on or after 3.30pm AEST on a business day, or on a non-business day, Beam will debit the nominated account on the next business day,
• Funds debited from the nominated account(s) will be sent to the nominated superannuation fund(s) within 5 business days, which includes the time it will take for the funds to clear.

Direct Credit (EFT) and BPay

For EFT (Bank Transfer) and BPAY payment options, the payment details will be blurred out until you tick the acknowledgement. 

• EFT (Bank Transfer): There is a different payment reference number for each batch submitted.
• BPay: There is a different customer reference number for each batch submitted.

NOTE: Please ensure you enter the correct payment reference number / customer reference number (only use the 18 character number and do not add any letters e.g. 'Ref') within the correct banking payment reference field in your internet banking website so that the payment can be automatically matched to your super batch. 

NB. If either the reference number or payment amount you use in your banking details does not match EXACTLY your payment cannot be automatically matched to your super batch. The batch will be cancelled (due to non-payment or incorrect payment amount) and your payment will be refunded (this can take up to 12 business days). 

Once you tick the acknowledgement, the details will become visible. There is also a ‘copy to clipboard’ option next to each of the detail fields which allows you to copy the payment information from here:

An email notification will be sent to the payroll admin with the beam payment instructions if you select EFT or BPAY payment options.