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Make the switch and receive payments faster from PT

Public Trustee (PT) is encouraging customers and vendors to make the switch to take advantage of the efficiencies associated with electronic payment services.

Receiving payments via Electronic Funds Transfer (EFT) has been a service offered to PT customers and vendors for some time; however there are still a number of cheque payments being made due to historic set-ups.

PT can transfer funds overnight using EFT technology as opposed to sending a cheque which can take 3 to 5 days to arrive by post and then another 3 days to clear. So far around 330,000 payments per annum are being made as a result of customers and vendors choosing EFT.

Similarly remittance advices can be sent on the same day via email, eliminating the 3 to 5 day wait when sent by post.

PT currently makes a total of approximately 410,000 payments per annum, sending around 4,500 remittance advices per month by email. This number is steadily increasing as customers and vendors take advantage of this service.

To make the switch and change from cheque to EFT, and from hardcopy to softcopy remittance advices please contact your liaison officer or call 8226 9200.