Posted 4mo ago inBaby Bonus Baby Bonus Approved Institution (AI)

Can the Approved Institution (AI) make a refund in the CDA on behalf of parents for the payments made in cash?

msf

Last updated 4mo ago

Cash payments collected by 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 or GIRO, from the corporate bank account into which the said payment was made to; (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.

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Can the Approved Institution (AI) make a refund in the CDA on behalf of parents for the payments made in cash?

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