How do I update my nominated bank account for my company, trust and joint portfolio?

When you open your Selfwealth trading account, you are required to provide details for your 'nominated bank account.' This is where your funds from your Selfwealth account will be withdrawn to.

It is not possible to withdraw funds to an external account other than your nominated bank account, meaning that, if you wish to withdraw your funds to a different account, you will need to update your nominated bank account first.

Here's how:

Step 1: Gather Your Documents

Before you begin, make sure you have the following documents ready to provide with your request:

• Download our Change of Nominated Bank Details form.
• A bank statement of your new nominated bank account issued within the last 90 days so that we can verify the name and bank account details of the account
• Proof of ID of all account holders so that we can verify your identity and signature (the driver's license or passport will suffice)
• A photo of each account holder holding their ID and a piece of paper with date written on it, with their face visible. Please make sure all information on the ID and the date on the paper is clear to read.

Please note: To keep your account secure, the nominated bank account must be in the same name as your Selfwealth trading account. You can find more details on page 2 of the 'Change of Nominated Bank Details' form.

Step 2: Fill Out the Form

Your Trading Account Details:

1. Find your Selfwealth ID following the instructions provided.
2. The 'Trading Account Name' refers to the name of the individual or entity the account is held under.

Your New Bank Account Details:

• Include the details for your new nominated bank account.

1. The name of the financial institution.
2. The registered name on the account.
3. The BSB number.
4. The account number.

Step 3: Sign the Form

Make sure all account holders sign and date the form in pen. For company accounts, sign as per the company constitution.

Please note: We cannot accept digital signatures.

Step 4: Submit Your Request

Once the form is completed and signed, submit it through our secure portal, via the 'Submit a Request' section on our website and include:

• A recent bank statement for the new account.
• ID for all account holders (driver's license or passport).
• A photo of each account holder holding their ID and a piece of paper with date written on it, with their face visible.

Step 5: Final Confirmation

Once all the required documentation has been provided and verified, we will update your nominated bank account. You will receive an email confirming the changes. After that, any funds you withdraw will go to your new nominated bank account.