You can now update your nominated bank account for Company, Trust, and Joint portfolios quickly and securely using our biometric verification process. Once all required account holders have been verified, your details will be updated immediately — no paper forms or bank statements required!
Before You Begin
Each account holder who needs to complete verification will receive a secure link via their registered mobile number. Please ensure all required account holders have a registered mobile number on their Selfwealth profile before starting.
Each holder will need one of the following forms of photo ID ready:
- Australian Driver Licence
- Australian Passport
- Most International Passports (you will need to manually enter your Australian address during verification)
How Many Account Holders Need to Verify?
The number of people required to complete biometric verification depends on your account type:
| Account Type | Verification Required From |
|---|---|
| Joint Portfolio | All account holders |
| Trust | Minimum 2 trustees (except where there is a sole individual trustee) |
| Company | Minimum 2 directors (except where there is a sole director) |
How It Works
Contact us via live chat
Start the process through our live chat support service. Our team will ask a few quick identification questions to verify your identity before proceeding.
Biometric links are sent to all required holders
We will send a secure biometric verification link simultaneously to the registered mobile number of each required account holder.
Each holder completes verification independently
Each person follows the secure link and completes the verification steps — this involves capturing data from your photo ID and taking a selfie. The process takes approximately 7–10 minutes per person.
Confirm your new bank account details
Once all required holders have successfully verified, we will ask you to send us a quick declaration in chat confirming your new bank account details. That is all we need.
Immediate confirmation
Your nominated bank account will be updated straight away, and you will receive an email confirmation. Any future withdrawals will go to your new account.
What if biometric verification is unsuccessful?
If biometric verification is not successful for any account holder, don't worry. We will revert to our standard manual process, which typically takes 1–2 business days. Our team will guide you through the next steps via live chat.