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Delay in processing Real Time Gross Settlement payments

Posted by marktaubert marktaubert
Message 1 of 2 2,712 Views

Why does it take a paper form and 3-4 days for a Real Time Gross Settlement payment to be made from my account. To date I have made 2 phone calls, sent 6 secure bank emails, filled out a RTGS form, chatted to an online consultant, updated my mobile phone number and I am still waiting for someone from BW to contact me to complete the payment. I would also like to know why I am being charge $35 to make a transfre to another Australian banking institution. Why arn't there other options such as overnight (as made with another Australian bank who chargeed $3) If there is why wasn't I offered this advice. Surely it is very common for people (1000's of these transactions per day) who want to tranfer more than $20k. The only advice I was given was that I could do multple transacations or pay for a RTGS payment. No other option was offered. This was an urget request as I had a house settlemnt taking place in 7 days. No of this has been taken into account and its now Friday when the request was made on Tuesday well before the cut off time. Not a happy customer. Please contact me to discuss.

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Re: Delay in processing Real Time Gross Settlement payments

Posted by LyndsC LyndsC
Message 2 of 2 2,711 Views

Hi @marktaubert, I'm sorry to hear you've been having an issue with this and that other options weren't discussed. Providing you're in Australia, the other option to transfer a large amount  would be to perform an RTGS in a Bankwest store. Alternatively you could opt to purchase a Bank cheque.

In regards to the maximum online payment of $20,000 per day - if the funds will be coming from a joint account, all parties can increase your daily transfer limit to a maximum of $20k per person, per day through their online banking. You can then split the payment between the joint parties over multiple days.

For security reasons we can't access or discuss any personal account information over the forum, however if you can give us a call on 13 17 19, we can look into this further for you. Thanks.

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