ASB banking changes

Some key changes are happening for ASB customers from 28 November 2024. This is for customers who have linked their ASB bank account with their Smartly site(s). 

Key changes:

• Letter of Credit has been removed. This means you will need to have sufficient funds in your account at the time of processing your pay. If not, your bank file will fail and your pay run will be re-opened automatically for re-processing, which may result in a possible delay in the new bank file being processed by ASB. You will then need to ensure you have sufficient funds in your account and log into your Smartly site to re-process your pay run. 
• ASB bank files will change from overnight processing to being instantly processed. 
• The bank cut off time is 10pm. If you process your pay run after this, it will be processed early next morning. 
• When the bank file has been processed successfully:
  • A confirmation email will be sent on the Direct Credit date to the person who processed the payroll. 
  • The ‘Your pay is on the way’ notification will appear in the employees’ apps.
  • A payslip will be emailed to the employees if you have enabled the Auto Email Payslips option. You can have this option enabled from 28 November 2024. Please see our Understanding payslips article for more information on how to enable this feature. 
• Smartly can only drop (open) pays for future dated pay runs. 
• When you process your pay run, the banking fee charged by ASB is 36 cents per transaction. From 1 December 2024, this will appear on your Smartly invoice and will be deducted alongside your standard Smartly fees, rather than being deducted directly by ASB. 

Partially processed bank files due to issues:

If there are issues with your bank file, e.g. an employee's bank account is incorrect, you will receive an email similar to below:

"Your payroll file for ABC Ltd for the period ending 01/12/2024 due for payment on 01/12/2024 has been been processed with some errors found. This means some employees may not be paid. Please contact the Customer Support team on 0800 10 10 38 for further details on what to do next in order for your employees to be paid."

If this happens:

• Your employees with the correct information (e.g. correct bank account) will still be paid.
• The monetary amount for your employees with the incorrect information will remain behind in your bank account (i.e. these employees won't be paid).
• All of your employees will receive an auto email payslip. 
• All of your employees won't receive an app notification about their pay being on the way.

In this scenario, please contact our Customer Support team on 0800 10 10 38 and they can assist you with the next steps.