How to use Transact

Find out how to use Transact

Do I need to register with every super fund I play contributions to?

No. Transact operates as a clearing house so you can pay contributions for all your employees in one go regardless of the super fund they’re with.

Can I upload a file to pay contributions?

Yes. This method is recommended for employers that are paying for more than 20 employees. Simply send a copy of the contribution file you wish to upload to our Transact Helpdesk and they will confirm once the file can be ready to use.

An employee has changed super funds. Can I pay to their new fund on Transact?

Yes. On Transact, simply link the new fund the employee is with and then transfer their record using the ‘Transfer Member’ function.

Can we have more than one person registered to use Transact?

Yes. We recommend you have at least two registered users for Transact.

Our company has multiple associated businesses. Can we use Transact for all of them?

Yes. All the associated entities must first be registered with IOOF before they can be set up on Transact. Alternatively, we can group all the entities so that you can have a single group user ID to access each entity’s profile on Transact.

We’ve had a contribution returned to us as the employee left the fund. How do we send this to their current Choice of Fund?

Once you have received the refunded contribution and transferred the member record to their new fund, the contribution can be re-submitted through Transact by establishing a one-off contribution batch. This will send the payment to the member’s current Choice of Fund.

A new employee is already a member of IOOF. How do I add them on Transact?

If the member has an account with IOOF, they can be added on Transact the same way as if they had elected Choice of Fund. Alternatively, if the member wants to be under the employer-sponsored plan, a new member record can be added for them under the default fund. This will create a new IOOF account for them and the member can then consolidate their previous account into the new account.

An employee has ceased employment. What do I need to do on Transact?

You can terminate the member on Transact by exiting their record. This will send a notification to IOOF to begin closing the member’s account. Exiting member records also allows you to properly maintain your employee listing on Transact.