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Faster Payments on Business Accounts

Posted by mat-tf mat-tf
Message 1 of 2 1,122 Views

Hi Bankwest,

 

When are Faster Payments likely to be turned on for Business PANs? I see the core banking platform is able to send Faster Payments from Business Accounts no problem, because when I log into my personal PAN which I have to have linked to business accounts to manage credit and debit cards, I am able to send a Faster Payment sourced from the business account.

 

This means the only thing preventing it is that BOB refuses to initiate a Faster Payment - I tried copy and pasting the URL from a session logged in using my personal PAN but it bombs out with a cryptic message saying something went wrong.

 

So - any ideas?

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Re: Faster Payments on Business Accounts

Posted by DanaeC DanaeC
Message 2 of 2 1,121 Views

Hey @mat-tf, thanks for getting in touch.

 

Using an eligible Business Transaction account via your personal PAN will allow you to send/receive Faster Payments, you're just not currently able to register these with a PayID. This transfer is instead actioned using a BSB and Account Number - though please keep in mind that not all accounts are eligible. You can click here for more info.

 

We don't have any time frame on when this will be available via Online Business Banking (OBB), and appreciate that this is probably not the answer you were hoping for. As soon as we have any news to share, we'll let you know.

 

Thanks.

 

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