What is AIP?

Adviser Initiated Payments (AIP) are a service which allows advisers to make payments on behalf of their clients from their cash account. Advisers can also set up or amend a scheduled or recurring payment. AIP is a fast, easy and secure way for advisers to make client instructed cash payments.

Who can use AIP?

Authorised advisers can use AIP for their clients. For verification purposes, clients must have their current mobile number and email address on record and have account signing instructions as either one account holder or two account holders to sign-off. If the account signing instructions are one account holder to sign-off then one account holder will receive the secure code. If the account signing instructions are two account holders to sign-off then two account holders will receive the secure code. If the signing instructions require more than two account holders to sign-off then AIP will not be available.

What payments can be made using AIP?

AIP gives your adviser the flexibility to make a number of different payment types without the need for a signed request. The payment types available are:

  • PayAnyone, this includes transfers to any Australian account, up to a limit of $500,000 per day
  • Transfers to any nominated account
  • Unlimited BPAY® payments (subject to BPAY biller code limits).

® Registered to BPAY Pty Ltd ABN 69 079 137 518

How is a payment authorised when using AIP?

If your adviser makes a payment using AIP, they will be required to select a client to send a Macquarie Authenticator push notification or secure code to .

If the client has registered for Macquarie Authenticator, they will receive a push notification on their mobile device to approve or deny the payment.

If the client hasn’t registed for Macquarie Authenticator, then they will receive an SMS with a secure code which must be provided verbally to their adviser. The adviser will then use this code to authorise the payment. Once authorised, the client will receive a confirmation email and SMS for their records.

Please note for accounts that require two signatories, both account holders must approve the authenticator notification. For clients not registered with authenticator, an SMS will be sent to both account holders and the adviser must receive both codes to authorise the transaction.

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Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

Apple Pay, the Apple logo & iPhone are trademarks of Apple Inc, registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android Pay, the Android Logo and Google Play are trademarks of Google Inc. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. BPAY is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

Other than MBL, none of the Macquarie Group entities referred to are authorised deposit-taking institutions for the purposes of the Banking Act 1959 (Cth), unless noted otherwise. Their obligations do not represent deposits or other liabilities of MBL. Unless otherwise stated, MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity.

© Macquarie Group Limited