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BankRec statements

BankRec utilises available transaction information to enrich bank statements. BankRec clients have access to:

  • Enhanced and enriched information which enables customers to reconcile more accurately
  • Expanded bulk settlements to instead show transaction detail
  • Time and cost savings through reduction of exceptions handling
  • Global standards enable easy consolidation and analysis of global accounts

BankRec's enriched bank statements conform to global standards, with enriched/debulked statements available via

  1. iLink,
  2. available in QuickStream as a downloadable report,
  3. or transmitted via the SWIFT Network.

Statement formats

BankRec produces statements in a number of standard formats.

Choosing a statement file format will be dictated primarily by your backend processing requirements. There is no "correct" statement format, but selecting various statements will have implications on implementation complexity and statement enrichment support.

Legacy statement formats:

The file formats produced by BankRec are considered standard bank statement formats. Deviation from these formats with modifications to business rules, alternate enrichment or manipulation to transaction codes will be treated as a change request and additional fees may apply. Files of the same type, including those received from other institutions, may have minor differences.

Privacy Statement

Privacy Statement (for individuals whose personal information may be collected - in this clause referred to as "you"). All personal information we collect about you is collected, used and disclosed by us in accordance with our Privacy Statement which is available at Privacy Statement or by calling us through your relationship manager or Westpac representative. Our Privacy Statement also provides information about how you can access and correct your personal information and make a complaint. You do not have to provide us with any personal information but, if you don't, we may not be able to process an application or a request for a product or service.