Editing Financial system in Australia (section)

=== Direct entry ===
Direct entry (also called CS2)<ref>{{Cite web |url=http://www.apca.com.au/docs/payment-systems/becs_procedures.pdf |title=Procedures for Bulk Electronic Clearing System Framework (CS2), Australian Payments Clearing Association Limited: accessed 26 July 2015 |access-date=26 July 2015 |archive-date=10 March 2015 |archive-url=https://web.archive.org/web/20150310131525/http://apca.com.au/docs/payment-systems/becs_procedures.pdf |url-status=dead }}</ref> can be used to transfer funds between bank accounts in Australia. Clearing and settling is regulated by AusPayNet as the Bulk Electronic Clearing System (BECS).

Direct entry uses the [[Bank State Branch|BSB]] and account number to identify the bank and accounts to debit and credit. Some common uses of the direct entry system include:
* setting up monthly [[direct debit]]s to pay recurring bills such as credit card bills
* transferring funds to other bank accounts, also known as third party transfers
* payment of wages and salaries
* government tax refunds and payments.

Participants of BECS exchange direct entry (DE) files at intervals through the day. Net positions are usually cleared daily.