Setting up your bank account and direct debit

When completing Finalise Your Account, this step sets up two things: the bank account we pay your funds into, and the direct debit that collects repayments. Both have to be done before you can continue, and need to be completed using the same bank account.

Choosing the account

If you have connected your accounting software, your bank accounts appear as a list. Select one and a tick appears on it. Otherwise select Or Add Bank Account Manually and enter the details.

My account is not in the list

The list comes from your accounting software, so it only shows accounts already set up there. We recommend adding your bank account to your accounting software (such as Xero) so that Fundtap can correctly record payment transactions. Once you have added it, return to Fundtap and refresh the page. Alternatively, select Or Add Bank Account Manually and type the details in.

How to get back to the list of accounts from your accounting software

Select Back to accounts at the top of the manual form.

Which account should you use?

A business account in your business's name. We cannot pay into a personal account, and the direct debit has to come from the same account.

Entering the details

In New Zealand: Bank Name, Account Holder Name, Bank Code, Branch Code, Account Number and Suffix.

In Australia: Bank Name, Account Holder Name, Branch Code (BSB) and Account Number.

I am not sure which part is which

A New Zealand account number looks like 12-3456-7890123-00. Those four parts, in order, are the bank code, branch code, account number, and suffix. Enter each part in its own box without the dashes. Note: this breakdown applies to New Zealand accounts only. Australian account numbers use a different format.

The bank statement

Upload a recent statement so we can confirm the account belongs to your business. PDF, JPG, PNG or HEIC, and 5MB or smaller.

The direct debit

Repayments are collected automatically from the same account. We use GoCardless, a licensed payments provider. Their form appears inside the page.

The GoCardless panel is empty

It says "Complete your funding account details above to start the Direct Debit setup" until your account details are in. Finish the account above and the form appears.

You finished the GoCardless form but the page has not caught up

The page checks with GoCardless in the background and completes on its own, even when the form inside the frame is slow to finish loading.

If nothing has changed after a minute or so, refresh the page and look at the step again before retrying.

You changed your funding account and the direct debit reset

The direct debit authority is linked to a specific account, so changing your funding account triggers a fresh setup. You will need to complete the GoCardless form again to reauthorise the new account.

Your bank is not offered by GoCardless

For any other questions or troubleshooting, email us at info@fundtap.co.