Typical set up time is 2 weeks from getting all the appropriate documentation, however we can use one of the other methods in the meantime.
I don’t want to worry about a thing, but I don’t have a NZ bank account – Commercial Trust Account
This option is popular with our overseas employers as it minimises International Bank Transfer fees. It is also useful for customers who like to keep have a separate account for payroll related costs that they can’t easily access.
KeyLink operates Commercial Trust Account at ASB Bank on your behalf. Each customer using this service has their own account.
KeyLink uses AMSL to facilitate payment, fees are charged to your Commercial Trust Account.
Cost: $60 per month + AMSL fees.
KeyLink need to perform Customer Due Diligence to meet requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation.
Cleared funds must be available before bank file is sent to AMSL for payment.
KeyLink guarantees on-time payments if cleared funds are available.
I like to make payments myself, and have a NZ bank account – Bank File
Some of our customers need to manage their cash flow very closely and/or want to have complete control over the timing of payments.
KeyLink generates and e-mails you a bank file in specific format for your bank.
You upload into your Internet or Desktop banking application, approve and send.
Cost: Your bank charges its normal fees
Notes: NZ bank accounts only.
I like to make payments myself, and don’t have a NZ bank account – Pay from Reports
Employer makes payment from reports.
This option is generally used by overseas employers, or employers with very small payrolls.
Cost: Your bank charges its normal fees.
Customer Due Diligence
To meet the requirements Diligence to meet requirements of Anti-Money Laundering and Counter Financing of Terrorism legislation KeyLink is required to perform Customer Due Diligence (CDD) on customers who use AMSL or a Commercial Trust Account. AMSL also perform CDD on their customers. This is because we are authorising the transfer on your behalf.
We will ask you to use another method of payment until CDD is complete.
The process for CDD will depend on the type of organisation you are. Typical time to complete is 2 weeks. The basic steps are:
Collect basic information about your organisation
We determine who we will need to identify from your organisation and how we will determine your “source of funds”.
For those we have to identify, we will collect certified copies of:
Proof of residence
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