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gwp
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Nowhere to deposit large cheque

Posted by gwp gwp
Message 1 of 6 1,591 Views

 I have a cheque for $10,000 that I wish to deposit in my Bankwest account.

 

From what I can make out, this is over the limit to deposit at Australia Post.  All the Bankwest branches within 2 hours of me have been closed down.

 

There seem to be no options for me to make this deposit?

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Re: Nowhere to deposit large cheque

Posted by MegB MegB
Message 2 of 6 1,588 Views

Hi @gwp, if you're unable to head to one of our branches, or the cheque exceeds the deposit limit for bank@post, you can mail the cheque to us for deposit.

Our postal address is Bankwest, GPO Box E237, Perth WA 6842.

We recommend sending the cheque by registered post and including a note with the name, bsb and account number you want it deposited to.

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gwp
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Re: Nowhere to deposit large cheque

[ Edited ]
Posted by gwp gwp
Message 3 of 6 1,561 Views

Other banks do not have a limit on the amount for cheque deposits at Australia Post, so makes it very awkward that Bankwest does have a limit.  It would be good if the $6000 limit could be increased.

 

We set up our Bankwest accounts when there were lots of branches in Victoria (most of which have now closed) - and according to the reply above it seems now the only option for larger cheque deposits is the unwieldly, lengthy and costy process of registered post to WA. 

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Re: Nowhere to deposit large cheque

Posted by MegB MegB
Message 4 of 6 1,556 Views

Thanks for your feedback regarding the deposit limit @gwp, I'll be sure to send this through as I can appreciate this may be inconvenient for those who frequently receive large cheques.

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Re: Nowhere to deposit large cheque

Posted by PK1606 PK1606
Message 5 of 6 716 Views

I recently deposited a large cheque via BankPost in an amount upwards of $40k and it appeared to go through. I called Bankwest on the day to check if there was a limit on deposit amounts and was advised that there wasn't. Now I'm reading posts on this forum that state a limit of $6000. Has this changed? I assume my cheque wouldn't have gone through if the $6000 limit was in place. 

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Re: Nowhere to deposit large cheque

[ Edited ]
Posted by DanaeC DanaeC
Message 6 of 6 713 Views

Hey @PK1606, thanks for getting in touch. I can see you have asked 2 questions over 2 posts, though I will respond to both here.

 

To clarify, the limit of a cheque being deposited via Bank@Post is $999,999.99 - the $6000 limit relates to cash deposits. I am very sorry for any confusion.

 

While it's not sent to a branch, Australia Post are an authorised third party, which is why there is a longer clearance time of up to 5 - 7 business days, for cheques deposited this way.

 

A Special Answer is a request to have your cheque cleared faster. This needs to be done in a branch at the time of deposit, wherein we will contact the initiating bank and request that they "release the funds" sooner. There is a fee for this, but no guarantee that we will receive a response from them, I do apologise for any inconvenience.

If you can remember when you called and who you spoke with, please do let me know so that I can ensure the feedback is addressed.

 

Thank you.

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