Direct Debit - Dishonoured Payments

The table below outlines the failed payment reason codes. Some codes will result in your account being placed on Hold.

When this occurs, no further fees can be taken until the information required has been corrected. When this occurs, Superfund Wholesale reserves the right to not continue any work until updated payment details are provided and/or all outstanding payments are made.

Dishonour Codes - Bank Accounts:

Code Reason Status Action Required
1

Incorrect BSB

Hold

Updated payment details required - update

2

Payment stopped

(DDR cancelled at bank by client)

Hold

Updated payment details required - update

3 Account closed Hold

Updated payment details required - update

4 Customer Deceased Cancelled

Updated payment details required - update

5 Incorrect Account Number Hold

Updated payment details required - update

6

Refer to Customer

(Insufficient Funds)

Active

Ensure funds available and contact Superfund Wholesale to schedule payment

***Dishonour fee may be applied***

9 Technically Invalid Hold

Verify bank account details provided and update if necessary - update 

Dishonour Codes - Credit Cards:

Code Reason Status Action Required
051 Insufficient Funds Active

Ensure funds available and contact Superfund Wholesale to schedule payment

033 / 054 Expired Card Hold

Updated payment details required or email updated expiry date to accounts@superfundwholesale.com.au

041 Lost Card Hold

Updated payment details required - update

005 Do Not Honour (Bank will not honour the payment) Active

Updated payment details required - update

043 Cancelled or Stolen - Pick Up Card Cancelled

Updated payment details required - update

 

SMS Reminders:

It's possible to set up an SMS reminder for any direct debits we schedule.

The pre payment SMSF reminder reads:

“Just a reminder that ($x.xx) will be debited from your (Bank or
Credit Card) on (Date). Thanks SUPERFUND WHOLESALE PTY LTD"

The Payment Reminders are sent at the following times:

  • 9:00am - sent to any customers who are due to be debited the next day. 
  • 4:00pm - sent to any customers that have been added to our system during the day that did not receive the SMS at 9am with a payment due the next day. 
  • 7:30pm - sent to customers that have been added to our system after 4pm with a payment due next day

To turn your SMS reminders on, please email accounts@superfundwholesale.com.au with your mobile number and we will update your details.

 

 

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