If you have an applicant applying for credit as a Trust, the applicant may occasionally encounter errors during the application process. Incorrect or incomplete trust or trustee details usually cause these issues.
Why Errors Occur for Trust Applications
When applying as a Trust, the application must include trustee details, not just the trust name. Errors typically occur when:
Trustee details are missing or entered incorrectly
The wrong entity type is selected
Required ACN or individual trustee information is not provided
How to Complete a Trust Application Correctly
Step 1: Complete the Initial Applicant Details
Start by entering the applicant’s details in the first section of the application form, including the entity name and entity type.
Once these details are entered, the Trust section will appear.
Step 2: Enter Trustee Details
For Trust applicants, trustee details are mandatory. The trustee can be either:
A Corporate Trustee
Enter the trustee’s ACN
The system will validate the corporate trustee details automatically
Individual Trustee(s)
Enter the full legal name(s) of the individual trustee(s)
Provide any additional required personal details
Where applicable, beneficiary details may also be required
Step 3: Confirm Trustee Type
When prompted, select whether the trustee is a company or an individual.
If Yes is selected, the corporate trustee fields (ACN) will appear
If No is selected, individual trustee fields will appear
Fixing Common Trust Application Errors
If you receive an error message, check the following:
The correct entity type (Trust) has been selected
Trustee details have been entered (corporate or individual)
The ACN is valid and entered without spaces (for corporate trustees)
All mandatory fields are completed
Correcting these details and resubmitting the application will usually resolve the issue.
Need Further Help?
If you continue to experience issues after confirming all trust and trustee details, please contact our support team for assistance.