RZ Forex's local AUD account supports various payment methods. Please read the following information for an introduction to the payment methods and their timelines:
Direct Debit:
Direct Debit is a payment method that allows authorized recipients to directly debit funds from the payer's bank account. This method reduces the hassle of manual payments for the payer and ensures timely receipt of funds for the recipient. Funds are typically received within 3 business days after authorization.
Direct Credit:
Direct Credit is a payment method in Australia where funds are directly transferred from the payer's account to the recipient's account. With Direct Credit, up to 7 payment processes can be conducted during each Business Entity Clearing System (BECS) window on each business day. The specific processing times are at 8:30 AM, 11:30 AM, 2:30 PM, 7:30 PM, 7:45 PM, 9:45 PM, and 10:50 PM (emergency processing) in Australian time. This provides businesses with multiple opportunities to send and receive payments effectively and promptly within a day.
NPP (New Payments Platform):
The NPP enables real-time payments among participating banks and financial institutions in Australia. You can receive instant payments directly into your local AUD account through this platform.
Please note that we do not currently support payments via NPP.
By offering multiple payment methods, RZ Forex aims to provide you with flexible and convenient fund management.