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Bank transfer

Posted by NickBrooker1 NickBrooker1
Message 1 of 2 219 Views

Why does it say online that it takes 3 business days for a transfer from another bank yet I transferred money 3 days ago and its not cleared yet. I gave cash to a nab teller over $5000 Monday morning. its in my account but not cleared and has been for days since tuesday! Yet I call bamkwest and you tell me the first time 48hrs now 5 days and it says 3 online. I want my money! I'm sick of bankwest. It doesnt take 5 days to move money online its just not good enough I am closing all my accounts!

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Re: Bank transfer

Posted by DanaeC DanaeC
Message 2 of 2 219 Views

Hi @NickBrooker1, I'm really sorry to hear of the experience you've had with this one. Generally speaking, a transfer of funds from one bank to another will take up to 3 business days, if done electronically (ie Pay Anybody). However, if cash was deposited over the counter at another bank, the processing and clearance time is 5 business days. Being that Monday was a Public Holiday in WA, please note that as banks were closed, this would not be counted as a processing day. I understand that you may be able to see the funds as uncleared in your account, however this is notification from the other bank that there is an incoming payment, for which a payment file has not yet been received. Bankwest will process a payment to your account on the same business day that it is received, and the funds will be available as soon as this is actioned. Thank you.

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