If a Baby Bonus Approved Institution (AI) needs to update its bank account details, does it need to inform MSF?

Question

Accepted Answer

Yes, you need to inform MSF on the updated bank account details. You can inform via 'Update corporate bank details' service via the Baby Bonus Approved Institution Portal on MSF website.

Please note that Approved Institution is required to re-submit the Interbank Giro (IBG) application to the respective bank for the deduction from the CDA if it involves a different corporate bank account.

If the AI has an existing GIRO/Direct Debit Authorisation (DDA) arrangement, they should also inform their new bank.

If a Baby Bonus Approved Institution (AI) needs to update its bank account details, does it need to inform MSF?

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