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Bank attempting a scheduled payment too early

Posted by Mr_MR Mr_MR
Message 1 of 2 754 Views

I had a scheduled payment set for Mon 10 Dec. Based on your payment cut-off schedule, this payment would be transacted after 3 pm Perth time (AWST). Why is it then that I get an email at 1:54 am (AWST) that the payment has failed? In my other banks this would mean the payment would be attempted on Sunday evening.

Why does Bankwest attempt to transact the payment before the business day has even started as opposed to your own published schedule?

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Re: Bank attempting a scheduled payment too early

Posted by MegB MegB
Message 2 of 2 730 Views

Hi @Mr_MR, I do apologise as it looks as though you've misunderstood the difference between our payment cut-off times and processing times.

The cut-off time is for online banking transfers to be processed same day. - Eg, if you submit a Pay Anybody transfer prior to 3pm it will process same day, if after 3pm, it'll process on the following business day.

These cut-off times don't apply to scheduled payments. 

Scheduled payments are the first batch of processing completed each day, so they will process between 12am - 2am WST. To ensure these process correctly and not fail, you'll need to ensure the account has sufficient funds to cover the payment by close of business the day prior. 

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