How We Protect Your Building's Money & Records
Your building keeps its own Australian bank account, private records stay isolated, and two officers approve payments.
Your Building Holds Its Own Money ($0.00 Held by Us)Direct Bank Settlement. NSW SSMA 2015 s 78(1). Funds sit inside the Owners Corporation's own APRA-regulated Australian bank account (ADI). Inbound PayID and BPAY levies clear via Monoova (AFSL #421414) directly into your nominated account with $0.00 overnight platform float.
SelfStrata never holds your building's reserves in a pooled trust wallet. Your money stays in your Owners Corporation's own Australian bank account at all times:
Paid Straight Into Your Bank
Administrative and Capital Works funds sit in your building's own Australian bank account. When owners pay levies by PayID, BPAY, or at Australia Post, funds settle straight to your account with $0.00 held overnight by us.
Two-Officer Payment Approval
Optional Direct Debit & Spending Guardrails. Committees can pay bills manually in their own bank app or enable optional two-officer BECS Direct Debit authority (stored in the 7-year Document Vault). Usage charges settle at $100.00 AUD or month-end with itemised statements.Committees can pay supplier bills manually in their own bank app using 1-click Copy details, or switch on optional two-officer direct debit where two committee members must approve payments.
Read-Only Bank Statement ConnectionAustralian Open Banking. Statement feeds use Australia's regulated Consumer Data Right (CDR) Open Banking framework via accredited providers, giving read-only statement visibility without ever sharing banking passwords.
Connecting your building's bank statement feed uses Australia's official Open Banking standard:
- Read-Only Access: Statement lines (date, description, amount, balance) help match payments and verify cash balances — they can never move money.
- Zero Password Sharing: You approve access directly on your own bank's screen. SelfStrata never sees or stores your internet banking password.
- Disconnect Anytime: Your committee can view or turn off bank feed sharing whenever you choose.
Private Building Data & Australian Hosting
Strict Building Separation
Every record is locked to your building's unique workspace, and personal neighbour contact details are protected according to each member's role.
Encrypted in Sydney, Australia
Encryption Standards. All traffic uses TLS 1.3 transport encryption, and database volumes, backups, and Vault files are encrypted at rest with AES-256 in Sydney, NSW data centers.All connections, backups, and uploaded building documents are encrypted in transit and at rest inside Sydney, NSW data centers.
Privacy-First Assistant Controls
Assistant Access Guardrails. Optional assistant integrations are off by default, never expose personal owner contact details, and can only prepare draft items for human committee review.Optional document helpers are switched off unless enabled in Settings, never share personal owner details externally, and never send notices without committee approval.
Tamper-Evident Accounts & 7-Year ArchiveStatutory Record Retention. NSW SSMA 2015 s 180. Posted ledger journals are append-only (adjusted only via visible reversal entries), and all minutes, Strata Roll updates, and Vault documents are retained for the 7-year statutory period under Section 180.
Your building's financial history stays clean and transparent whenever committee members hand over roles:
- Posted financial entries are never silently edited or erased.
- Any correction is recorded as a clear, visible adjustment note.
- Meeting minutes, bills, insurance certificates, and statements are kept safely for 7 years.
Security Questions & Reporting
To ask about our security practices or report an issue, email our team at security@selfstrata.au.