Cash payments collected by Baby Bonus Approved Institution (AI) from parents should be refunded in cash. The AI is required to make a refund into the CDA if the refunded amount was originally deducted from the CDA. The refunded amount will not be matched.

Should an AI need to refund any payment made out of the CDA, the refund must be made into the CDA:

(a) via the AI Portal on MSF website if the AI has an existing Direct Debit Arrangement (DDA) with MSF, or by GIRO transfer. The AI must effect the refund from the same corporate bank account that originally received the payment;

(b) with the word ‘refund’ as part of the transaction details; and

(c) within one month from the date agreed upon by both the trustee and AI.