on 18-10-2018 11:29 AM
Payments made to PayID are supposed be immediate, why is there a 4 hour delay when making payment to PayID that not made any previous payment to
on 18-10-2018 03:46 PM
Hey @bazcom the 4 hour hold is in place for first time payments so the normal security and fraud checking processes can be followed. The 4 hours quoted is a worst case scenario and it's likely the recipient will receive the funds at any point during this time. I'm very sorry for any trouble this may cause.
on 19-10-2018 09:29 AM
So every time I make a payment to someone new there is a possible 4 hour delay?
If this is the case if seems like a poor implementation of Pay I.D.
19-10-2018 01:55 PM - edited 19-10-2018 01:55 PM
on 19-10-2018 04:56 PM
I have never had any delay with NAB. Payments to first time payees are instant.
I believe the truth is more like its a Bankwest fraud prevention measure and payments are delayed for no other reason than Bankwest being slow to authorise the payment. If Bankwest, like NAB obviously do, authorise the payment quicker there is little to no delay.
Upto 4 hours of delay is hopeless for us users who want to make instant transfers to pay for goods or services.
Example: I go to a market and find an item that is priced more than the amount of cash I am carrying, I should be able to make an instant transfer using pay id. without the need to stand around waiting for hours for it to process.
Again, NAB payments have been instant for me.
on 24-10-2018 05:15 PM
Thanks for the response. I find it interesting that having accounts with 5 different financial institutions and when using PayID for the first time that none of these banks (including the Commonwealth) has this payment processing delay in place, it's only Bankwest and this doesn't seem to be mentioned in your policy, it also makes one of the promoted benefits of using PayID null and void being 'the money will be transferred and ready to use, usually within a minute' - PayID website.
As none of the other financial institutions seem to use this first time payment delay, I'm so glad that I can have faith in Bankwest being at the forefront of protecting my money with your so called fraud checking process policy to confirm first time payments, I'm curious to know that if it takes Bankwest 4 hours to confirm that a $2.12 payment request is not fraud and to process it, how long is it going to take to check and process a $10,000.00 first time payment? According to my calculation's it will take approx 18,868 hours which equates to approx 786 days or 2 years 1 month and 26 days. You go Bankwest, well done!!!
on 24-10-2018 06:07 PM
Just another example of Bankwest not giving a **bleep** about how their actions impact on their customers.
Much like how in 2007/2008 they did their big launch on the East Coast with a plan to open 160 new branches, don't know how many ended up opening but in the Sydney CBD seemed like there was a branch on every second block, they promoted longer banking hours open till 6pm, open Saturday and Sunday for normal banking etc etc etc. Despite within 6 months gaining 52,000 new customers (double the target), deposits growing by $683 million (2 1/2 times the target), lending growing by $1bn (4 times the target), in 4 years they had doubled the number of customers to over 282,000, added $1bn to their deposits and over $3bn to their lending, from 2009 to 2011 market share went from 2.3% to 2.9%. Roll on the years, opening hours were reduced, no longer open on Saturday and Sunday, would go into a branch one day then go back to the same branch the next day and it's gone. Roll on 2018 how many branches are still open in Sydney and the surrounding suburbs - 1.
on 30-05-2019 06:30 AM
My first payment of $100 as a test went through immediately. My second to the same institution of $900 said eta 4 hours so the security blurb is rubbish. Also I ordered a debit card on returning to Australia which I never received. Called and chatted with BW on numerous occasions. Gave up in the end and use another bank! Apologies mean nothing if problems aren’t fixed. My account will be closed soon.