WE SCRAP IT,
YOU BANK IT
CASH FOR SCRAP
Reverse EFT replaces cash payments
Cash payments for scrap metal are banned, however we can arrange direct transfer (EFT) to Account customers with an ABN or reverse EFT straight into your bank account.
Laws for dealing in scrap metal came into effect on 30 May 2018. As a part of these laws, businesses are banned from making or taking cash payments, possessing or trading an unidentified motor vehicle and will be required to keep records of all transactions involving scrap metal. Due to these changes, there will be traceable information for every transaction, with businesses facing maximum fines of more than $30,000 for not complying with these regulations.
Future Recycling has stayed ahead of these changes and wants to minimise the inconvenience to our customers. Future Recycling is one of the few scrap dealers in Victoria with the ability to reverse EFT straight into your bank account, meaning that you will have access to your funds almost immediately.
To arrange direct transfer (EFT) to Account customers with an ABN or reverse EFT straight into your bank account, simply complete our RCTI Agreement: