using corporate evergreen accounts - westpac...

Corporate

Online. Using Corporate Evergreen accounts

Effective as at April 2015

Westpac Corporate Online is an internet-based electronic platform, providing a single point

of entry to a suite of online transactional services specifically designed for major Australian,

New Zealand and international corporations and government bodies.

By working closely with customers like you, Westpac has developed Corporate Online as a

portal environment that delivers greater control, productivity and flexibility to your business.

Control how your organisation uses Corporate Online, including which applications and

features staff members can use and which accounts and services they have access to.

Increase productivity by getting straight to work with Corporate Online’s easy-to-use

interface and simple workflows.

Use Corporate Online’s flexibility to create a setup that matches your business needs and can

grow and change as your business does.

Corporate Online employs a “best of breed” security model, using a range of protective

technologies to guard your organisation’s information and to assist you in better managing

the risks of fraudulent activity. These include 128bit encryption and SecurID® Tokens

For detailed information on Corporate Online’s extensive security features, please ask your

Westpac relationship manager.

This user guide forms part of your Agreement with us and provides information for your use

of this product within Westpac Corporate Online.

Certain words used throughout the user guide may have a defined meaning in the Glossary.

Copyright © 2015 Westpac Banking Corporation ABN 33 007 457 141 AFSL and

Australian credit licence 233714

This guide describes how to use the Corporate Evergreen Account functionality of

Westpac Corporate Online. It is one of a suite of guides that cover the wide range of

applications and features that are available through Corporate Online.

Where can I find a copy of this guide?

The most up-to-date versions of this and other Corporate Online user guides can be found on

the User guides screen of Corporate Online.

If you must print this document, always download the PDF from Corporate Online then

print from that: don’t print a saved PDF or photocopy a paper copy as it may not be current.

What else should I read?

As well as reading this guide, we strongly recommend you read the Corporate Online User

Guide, which covers topics such as logging on and security.

Click on a link to

display the user

guide for that

application

The CEA is a flexible investment account with a market-linked variable interest rate and no

maturity date. Interest is calculated daily and paid monthly with the option of interest being

paid into a linked Westpac Nominated Account or reinvested within the CEA.

When a CEA account is opened, you must select a minimum notice period that will apply

before you can access funds of 31, 60, 90 or 180 days. For example, if you open a 31-day

CEA, you will need to give a minimum of 31 days’ notice before you can access your funds.

At any time while your CEA remains open, your funds will be treated as:

Funds on Hold (FOH);

Funds on Notice (FON); or

Funds at Call (FAC).

You can deposit additional funds into your CEA at any time. Funds that are deposited to a

CEA will be treated (on the day of deposit) as FAC until overnight system processing is

carried out. Following processing, deposits will be treated as FOH.

An annual statement of interest paid is provided in July each year for any CEA that has been

active in the 12 months proceeding that July.

There is no minimum balance level required to open or maintain a CEA.

Refer to the Corporate Transactional Accounts terms & conditions booklet for detailed

product information.

A withdrawal request may be made using your Corporate Online facility. Withdrawal notice

periods are calculated from (and include) the day that the withdrawal notice is received by

Westpac through your Corporate Online facility.

Notices of withdrawal may be cancelled by you at any time up to 21:00 AEST/AEDT

(Sydney time) on the last day of the relevant notice period. If a notice of withdrawal is

cancelled, the relevant amount will be treated as part of the FOH.

The Deposits application of Corporate Online can be used to:

Check the current balance of funds in each stage of your CEA;

Submit withdrawal notices, check the status of active or scheduled withdrawal notices;

Transfer funds from FAC out of the CEA or reinvest them; and

Cancel withdrawal notices.

In addition to being able to view your account in the Manage Evergreen Notices application,

you can also view the CEA in the Accounts application and include them in your account

group balances.

The CEA functionality is broken down into a number of features to allow you to manage

which tasks can be performed by which users in your organisation (according to their job

role). The features are:

Feature (as allocated in

Administration)

This allows you to…

View and print

Evergreen notices

View and print current and historical notices of withdrawal

on your account.

- see The Current notices screen on page 9

Manage Evergreen

notices

Manage all aspects of your account, such as submitting

notices of withdrawal and reinvesting funds. This feature is

in addition to the View and print function.

- see Managing Corporate Evergreen Accounts on page 10.

These features are allocated to users by your Corporate Online administrators.

Deposit information remains available in Corporate Online for 18 calendar months.

For information on fees and charges, refer to the Corporate Online Terms and Conditions,

which is published on the Westpac internet site, or talk to your Westpac relationship

manager.

Unlike most Corporate Online applications, the Online Deposits application does not use

Offices.

Notification requests must be fully authorised by the following standard cut-off times:

Notice type Cut-off time

Withdrawal notice 23:59 AEST/AEDT (Sydney time) on the Start date of Notice

Cancel notice 21:00 AEST/AEDT (Sydney time) on the Final date of Notice

Reinvestment request Not applicable

Corporate Online requires that requests to withdraw, reinvest and cancel notices must be

authorised. To manage this authorisation, Corporate Online uses the concept of a workflow.

A typical workflow might look like this.

Authorise request

Create Evergreen

request

Corporate Online accepts request for processing

How many steps make up a workflow?

The number of steps required to create and authorise a request is determined by the

authorisation model chosen by your organisation for Online Deposits. There are two

authorisation models on offer:

single authorisation

dual authorisation.

Single is the simplest authorisation model, in business terms. Each request must be created,

then authorised (once), at which time Corporate Online accepts it for processing.


Create Evergreen

request

Authorise request

Dual is the most robust and flexible authorisation model. Each request is created, then goes

through a two-stage authorisation process before being accepted for processing.

2

nd Authorise request


1st Authorise request

Create Evergreen

request

Your Corporate Online administrator can tell you which authorisation model your

organisation is using for Online Deposits by running an active profile report for your

organisation (see Administering Corporate Online, available from the User Guides page

under Administration).

Who can perform which steps in a workflow?

Corporate Online allows your organisation to restrict what steps users can perform in the

Online Deposits workflow. This defines each user’s role. There are two main roles in a

workflow:

creator

authoriser

Authorise request


Create Evergreen

request

Creator Authoriser

In addition, your organisation can determine if individual users can play more than one role

in a particular workflow (i.e. can they be both a creator and authoriser) and whether users

performing both roles are permitted to authorise the tasks they themselves have created

(called “self-authorising”).

Authorise request


Create request and send

to authorise

Creator + Self-Authoriser

Your user role is controlled by your organisation’s Corporate Online administrators.

You may have a different role in other applications (e.g. Accounts, Administration).

This section gives you a quick tour of the main screens you will encounter when using the

Evergreen features.

From the Deposits menu, select Manage > Evergreen notices.

Corporate Online displays the Current Notices screen which shows your account balance,

accrued interest for the month and current withdrawal notices on the account.

Note: When a notice is selected, the Cancel notice button will be active.

For more information on using the features shown, see:

Procedure: Creating a notice of withdrawal on page 11

Procedure: Cancelling a notice on page 12

Procedure: Reinvesting funds from Funds at Call on page 13

Printing with Print preview on page 19

To use this screen you need access to the Deposits > View and print Evergreen notices

feature.

Click to see historical notices

Click to create a notice to withdraw funds.

Click to reinvest all or part of funds treated as Funds at Call.

Click to print a list of the current notices.

Current notices on the account and their end dates.

Click to refresh the screen with notices for the selected account.

Click the link to view and print notice details

From the Deposits menu, select Manage > Evergreen notices.

Corporate Online displays the Current Notices screen.

Click the Historical notices tab at the top of the screen.

Corporate Online displays a list of historical notice for the selected account.

For more information on using the features shown, see:

Printing with Print preview on page 19

To use this screen you need access to the Deposits > View and print Evergreen notices

feature.

Click to see current notices

Click the link to view and print notice details

Click to refresh the screen with notices for the selected account and search criteria.

Click to select search criteria.

You can use Corporate Online for:

Creating a notice of withdrawal

Cancelling a notice of withdrawal

Creating a reinvestment request

Use this procedure to create a notice of withdrawal.

To perform this procedure you need:

Creator access to the Deposits > View and print Evergreen notices feature.

Creator access to the Deposits > Manage Evergreen notices feature.

Authoriser access to the Deposits > Manage Evergreen notices feature.

Start from anywhere in the Deposits application:

1. From the left-hand navigation menu, select Manage > Evergreen notices.

Corporate Online displays the Manage Evergreen notices — List of current notices screen

2. Click the Create notice button.

Corporate Online displays the Create withdrawal notice – Enter withdrawal details

screen.

3. Enter the details of the withdrawal

Field(s) Notes

Withdrawal amount Enter the Withdrawal amount

Start date of notice Select the start date which may be today or a future

date. The final date of notice field will be automatically

populated to match the account’s notice period.

Final date of notice Select the final date. The start date will be automatically

populated to match the account’s notice period. You

cannot select a final date less than the notice period or

more than a year from today.

4. Click the Send to authorise button.

Corporate Online displays the confirmation screen.

Depending on your authorisation, this request may be self-authorised or submitted for

authorisation by another Corporate Online user.

To authorise this deposit, see Procedure: Authorising tasks on page 16.

Use this procedure to cancel a notice.








2. Select the notice to be cancelled.

3. Click the Cancel notice button.





Use this procedure to reinvest funds from Funds at Call back into Funds on Hold.








2. Click the Create reinvestment button.

Corporate Online displays the Create reinvestment notice – Enter reinvestment details

screen.

3. Enter the Amount to be re-invested.

4. Click the Send to authorise button.





Use this procedure to amend an incomplete request.





1. From the left-hand navigation menu, select Deposits > Manage > Pending tasks.

Corporate Online displays the Manage pending tasks — Tasks not completed screen.

2. Select the “Task type” from the list (For example: Create notice or Create reinvestment),

then click the Update list button.

3. Select the task you want to amend then click the Amend button. (Note: Amend button is

unavailable for Cancel notice)

Corporate Online displays the Details screen based on the type of task selected.

4. Amend the details of the task then click the Send to authorise button.

For more information, see:

Procedure: Creating a notice of withdrawal on page 11

Procedure: Cancelling a notice on page 12

Procedure: Reinvesting funds from Funds at Call on page 13


This notice request must now be authorised.


Use this procedure to delete a request.

Note: Corporate Online automatically deletes incomplete, unauthorised, and partially

authorised tasks overnight: you do not need to manually delete them, unless you want to

prevent them being completed or authorised.

An unauthorised create notice task is deleted the next day after the start date while an

unauthorised cancellation is deleted the next day after the end date.





1. From the left-hand navigation menu, select Manage > Pending tasks.

Corporate Online displays the Manage Pending tasks – Tasks not completed screen.



3. Select the task you want to delete then click the Delete button.

Corporate Online displays the applicable manage pending tasks confirmation screen.

4. Check this is the task you want to delete then click the Delete now button.

Corporate Online will remove the deleted task overnight.

Use this procedure to authorise Corporate Evergreen account tasks.

To perform this procedure you need authoriser access to the Deposits > Manage Evergreen

notices feature.

1. From the left-hand navigation menu, select Deposits > Authorise.

Corporate Online displays the Authorise — Tasks requiring authorisation screen.



3. Select the task you want to authorise then click the Review before authorising button.

Corporate Online displays the authorise screen.

4. Review the task details carefully, then click the Authorise now button.

Corporate Online updates the notice status depending on the authorisation model used by

your organisation for the Deposits application.

Authorisation model Previous status Action

Single

authorisation

Unauthorised Corporate Online updates the tasks status to

Authorised

Dual

authorisation

Unauthorised

Corporate Online updates the tasks status to

Partially authorised

These instructions must now be fully authorised

by another authoriser (using this same

procedure).

Authorisation model Previous status Action

Partially

authorised

Corporate Online updates the tasks status to

Authorised

Set preferences allows you to set the default values displayed by Corporate Online Deposits

to the screens, you use the most. This can save you time and hassle.

Each user can set their own preferences. Preferences can be set for each Corporate Online

application (e.g. Payments, Accounts) individually.

Use this procedure to set your individual preferences for the Deposits application.

All users with access to the Deposits application can perform this procedure.

Start from anywhere in the Deposits application.

1. From the left-hand navigation menu, select Deposits > Set preferences.

Corporate Online displays the Set preferences — Deposits preferred settings screen.

2. Set your preferences by selecting them from the drop down lists displayed.

Heading Notes on fields

Select a Deposits screen from the drop down list.

Corporate Online will display this screen each time you

navigate to the Deposits application.

Select the Account you would like to see first within

Manage – Evergreen notices

3. Click the Submit button.

Corporate Online updates your preferences. This will not affect the preferences of any other

user or any of your preferences for other applications (e.g. Payments).

This section introduces some of the basic skills that apply to many of the screens you will

encounter when using the Deposits application.

These basic skills can be used anywhere the feature (e.g. the Print preview button) appears.

They may not be referred to specifically in the procedures.

Many of the screens in the Deposits application include a Print Preview button to allow you

to preview then print the details displayed on the screen. To print:

1. Click the Print preview button.

Corporate Online pops up a print preview window. For example:

2. Click the Print this page button.

Your computer pops up a Print dialog. For example:

3. Make the appropriate printer selections and adjustments, and then click the Print button.

Your computer should now print the previewed information.

4. Click the Close button.

The user can enter a date into the date field or use the pop-up calendar. Using the calendar

ensures you won’t enter dates that are inappropriate for the context of the screen, e.g. by not

allowing a notice of withdrawal on a weekend or Australian national public holiday.

To use the calendar to enter a date:

1. Click on the Calendar icon to the right of the date you want to alter. For example:

Corporate Online displays a calendar pop-up window. For example:

The colour of the individual days on the calendar tells you whether they are appropriate for

the context of the screen you are working on. The calendar takes into account how far in the

past or future a date can be set and most Australian national public holiday restrictions.

2. If required, change the month by using the arrows or the drop-down box at the top of the

pop-up window. For example:

3. Select a valid date by clicking on a red or dark grey date. For example:

Corporate Online now displays the date selected. For example:

When Corporate Online displays lists of things (e.g. deposits), it does so in blocks of up to

20 items. At the bottom of such list is a grey band containing the links that allow you to

navigate through the items in the list. For example:

If a link cannot be used, it is greyed out. For example, if Corporate Online is displaying the

first 20 deposits in the list, “Start of list” and “Previous 20” are greyed out.

If there are 20 or fewer deposits in the list, all the navigation links do not appear.

To navigate the list:

1. Click on a “navigation” link. For example:

Corporate Online redisplays this screen with the selected part of the list.

1. From the left hand menu, select

Deposits > Manage > Evergreen notices

1. From the Current Notices screen, click

Create notice.

2. Enter the withdrawal amount.

3. Select the required Start date or End date

for the notice.

4. Click Send to authorise.

Procedure: Creating a notice of

withdrawal on page 11

1. From the Current Notices screen, select

the notice to be cancelled.

2. Click Cancel notice

3. Click Authorise now.

Procedure: Cancelling a notice on

page 12


Create reinvestment.

2. Enter the reinvestment amount.

3. Click Send to authorise.

Procedure: Reinvesting funds from

Funds at Call on page 13


Print preview.

2. Print the screen to your local printer.

Printing with Print preview on page

19

The following terms are used in the Corporate Online Corporate Evergreen Account user

guides.

Notices to withdraw funds which are active on the account.

Past notices to withdraw funds which have been processed or cancelled.

An office is a flexible logical entity used to segregate payments, billing, beneficiaries,

templates, and trade finance agreements within an organisation in a Corporate Online setup.

An organisation is the highest level entity that can be represented in a Corporate Online set

up.

Preferences define a set of default values (e.g. screens, offices, accounts) for a particular user

for a particular application.

A service is a particular type of banking facility accessed via a Corporate Online feature.

Corporate Online provides access to two groups of services: import services and receipt

services.

A user is an identifiable person registered to access Corporate Online whose identity has

been verified either by the bank or a Corporate Online administrator.

about

authorisation, 7

workflows, 7

authorisation

about, 7

authoriser, 7

creator, 7

models

dual, 7

single, 7

user roles, 7

which model?, 7

authoriser, 7

basic skills

calendar, 20

entering dates, 20

navigating lists, 21

print preview, 19

buttons

print preview, 19

calendar

basic skills, 20

creator, 7

dates

basic skills, 20

dual authorisation

model, 7

entering

dates, 20

lists

navigating, 21

models

dual authorisation, 7

single authorisation, 7

which one?, 7

navigating lists

basic skills, 21

preferences

setting, 18

print preview

printing, 19

printing

print preview, 19

procedures

setting receipts preferences, 18

setting

preferences, 18

single authorisation model, 7

skills

calendar, 20

entering dates, 20

navigating lists, 21

print preview, 19

user roles

authorisation, 7

users

authorisation roles, 7

workflows

about, 7

using corporate evergreen accounts - westpac...

Documents