No, you can arrange one off BPAY deposits to be paid into your U Ethical account at any time of the month.
It is only scheduled cash movements (cash paid out and cash receipted) which will move from being processed across each day of the month to a single day of each month - the 15th calendar day.
You can complete the redemption form which is found on uethical.com
Unfortunately not. Due to U Ethical not holding a direct relationship with the congregation members under the Direct Offering program, contributions will now need to flow from a member's bank account to their congregation's bank account.
You will not need to close your U Ethical account, however direct offerings will now need to be channelled from a congregants bank account to the congregation’s bank account directly. Any surplus funds the congregation may have should then be invested with U Ethical, better aligning the intended purpose of your investment account and your standard bank account.
With Direct Offering contributions going directly to your congregation bank account this facility will need to be used to pay wages. Please contact CSPS for a direct debit form and CSPS will make the direct debit from the congregation's bank account for salaries.
Instead of making a 'pay anyone' transfer in future you will need to use BPAY to make a payment into your U Ethical account. We will inform you of the new Biller Codes and the date the 'pay anyone' facility will be retired once all elements are established in the near future. This will not effect the time taken to process transactions or their date of receipt.
'Congregations bank account' refers to a bank account held at an approved deposit taking institution (eg Westpac), this is not your U Ethical account, which is a separate investment facility.
Yes. BPAY will become the sole means of transferring funds into U Ethical accounts and will be extended to provide a specific biller code for each product allowing you more control over these payments.
No. All scheduled cash movements (cash paid out and cash receipted) will simply move from being processed across each day of the month to a single day of each month - the 15th calendar day. Weekly or fortnightly scheduled payments both in and out of U Ethical will be paused until a new Direct Debit or Periodic Payment form is received.
BPAY is currently one way for account signatories to transfer funds into their U Ethical account. In the future, BPAY will become the sole means of transferring funds into U Ethical accounts. Contributions from congregation members should be sent to your congregation bank account.
All Direct Offering contributors have been (or will shortly be) contacted by U Ethical by either email or post outlining instructions for updating their contribution allocation. U Ethical will run the last deduction under the current arrangement on 31 July. If members have been away or unable to change their Direct Offering before this date, funds will remain with them to donate upon their return once their new bank transfer facility has been established.
Unfortunately we need to press forward with these changes due to regulatory requirements, owing to the fact that U Ethical does not hold a direct relationship with the congregation member under the current program. All Direct Offering contributors have been (or will shortly be) contacted by U Ethical by either email or post outlining instructions for updating their contribution and we hope this will make it easier to alter contributions in the given time frame. If these arrangements have not been altered by the end of July, funds will not be deducted and as such will remain with the congregation member to donate at a later time.
Income returns for the end of the 2021 financial year are currently being finalised with processing and communication to all investors due later in July. While not yet finalised, returns on the fixed income products will reflect the low interest rate environment.