As most payments are nearly instantaneous, banks take extra measures to prevent accidental or fraudulent payments. Many banks are also increasing their fraud awareness amongst their customers in light of increased scams and fraudulent payments.
Why is my bank saying my payment to Birchal could be a scam?
If you are seeing a warning from your bank when paying for a Birchal investment, it is likely because the payment is to a new or unfamiliar payee. Banks often issue warnings for payments to new or unfamiliar payees, as this could be a sign of fraud.
When you pay by bank transfer, we issue you a unique BSB and account number which are ‘virtual’ accounts. These virtual bank accounts are unique to your Birchal account and will not have received a transfer if you have never paid for an investment before via bank transfer.
If you are unsure why you are seeing a warning from your bank, you can contact your bank directly to inquire.
However, if you are confident that you are paying the correct account number and BSB, you can safely proceed with the payment.
What can I do if my bank warns me about a payment to Birchal?
Make sure that you are paying the correct account number and BSB. This information can be found on the Birchal website.
Proceed with the payment if you are certain that the details are correct. Your bank will provide a button or a prompt below the warning message to allow you to proceed.
If you cannot proceed, contact your bank to see if they can whitelist the Birchal account.
Try again using a different bank.
If you have any questions or concerns about paying for your investment, please do not hesitate to contact us by emailing [email protected] or by clicking on the chat widget on the bottom-right.