Bankwest Forum

Ask a new question
Reply
New Member
SOLVED
Accepted Solution

Why did my automatic bank transfer cancel

Posted by Starfishgirl Starfishgirl
Message 1 of 4 1,399 Views
I have had a loan repayment set up through online banking for years, on a weekly basis. I had one week last week where unknown to me a payment I was expecting was delayed, therefore not leaving enough in my account for the payment to be made. I understand it was a "insufficient funds" but the whole transaction was cancelled. Lucky I checked my schedule payments, as it is no longer listed as a scheduled payment and I have set it up again.
Does this mean that every time now there is insufficient funds, the payment cancels in full ? Can't it go back to how it was, you skip that payment and the scheduled payment continues the following week ???
Reply
0 Kudos
Moderator
SOLUTION

Re: Why did my automatic bank transfer cancel

Posted by SarahF SarahF
Message 2 of 4 1,392 Views

Hi @Starfishgirl, thanks for your feedback in regards to scheduled payments. I'll make sure your feedback is passed onto our team in regards to having the payments stay in there even if one is missed. Thanks!

Reply
0 Kudos
New Member

Re: Why did my automatic bank transfer cancel

Posted by Charli74 Charli74
Message 3 of 4 1,279 Views

Mine has done the same thing today! I have just transferred to BW and set up a weekly payment to come out of our account the same day we get paid because of the very frustrating 3 business day turnaround of payments to other banks. I was very careful to read all the available information regarding setting this up to make sure our pays went in before the scheduled payment went out.  Unfortunately the scheduled payment was done very early in the morning (3:30am) of the day I scheduled it (not what the information I read told me!) and therefore I was emailed an insufficient funds notification. Then I went in to BOB to make a change to the schedule only to find there is nothing there anymore! I'm beginning to regret changing banks as I never had this issue with my last bank........

Reply
0 Kudos
Moderator

Re: Why did my automatic bank transfer cancel

Posted by SarahF SarahF
Message 4 of 4 1,273 Views

Hi @Charli74, I'm really sorry to hear that the scheduled payment was attempted before your funds were in the account. If there are insufficient funds for a scheduled payment this may cancel the payment for the future and you'll need to set this again via online banking. I'll ensure your feedback is passed onto our team as they are aware of this currently.

Reply
0 Kudos
Ask a new question
Top kudoed contributors

Bankwest SWIFT code: BKWAAU6P | Find your BSB by logging into Online Banking
© 2017 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.