BGL’s Bank Data can be loaded into the Simple Fund desktop software and Simple Fund 360, which BGL describes as “the next generation web SMSF solution.”
“Over the past 12 months we have released bank data, contract note data, now supporting over 70 brokers, and registry data. With these three services, BGL completes the SMSF dream by providing first-class automation for our clients,” said Ron Lesh, BGL’s managing director.
The Bank Data service uses BGL’s SmartPost technology to automatically allocate amounts to ledger accounts. It currently supports ANZ, BankWest, Bank of Melbourne, Bank of South Australia, Commonwealth Bank, Macquarie Bank, National Australia Bank, St George and Westpac.
In the coming months, BGL stated Adelaide and Bendigo Bank, Bank of Queensland and a number of other banks will be added to the service.
“The most arduous part of obtaining bank data is the authority process... we have established a transition team to prepare authority forms for clients,” Lesh said.
The Bank Data service is available now for all BGL clients.