Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


Paul1977

3425 posts

Uber Geek


#233603 24-Apr-2018 11:19
Send private message

As per subject line.

 

Are these still overnight between banks, or is it faster now?

 

Specifically I ordered something this morning and paid from my Westpac account into their ASB account. I'm keen for them to ship it today, so was wondering if I asked them to check their account in a couple of hours if it would be in their.


Create new topic
jnimmo
What does this tag do
1040 posts

Uber Geek

Subscriber

  #2001494 24-Apr-2018 11:24
Send private message

Payments between banks are faster now - generally sent and received every hour, so it can take a couple of hours depending on the banks and timing


trig42
5045 posts

Uber Geek


  #2001495 24-Apr-2018 11:26
Send private message

Yep, hourly (during business hours) between most banks has been my experience.

 

I quite often pay between Westpac and Kiwibank, and that usually is within the hour during the day (transfer completed before 4pm).

 

Kiwi to ASB is about the same, and vice-versa.


 
 
 
 


Paul1977

3425 posts

Uber Geek


  #2001503 24-Apr-2018 11:33
Send private message

Thanks.

 

I'll give it 2 hours from when I initiated the transfer then email them.


coffeebaron
5738 posts

Uber Geek

Trusted
Lifetime subscriber

  #2001507 24-Apr-2018 11:37
Send private message

It will also depend on when the retailer does their bank transaction check, which if only once a day, then I guess it will be tomorrow :(




Chorus has spent $1.4 billion on making their xDSL broadband network faster and even more now as they are upgrading their rural Conklins. If your still stuck on ADSL or VDSL, why not spend $195 on a master filter install to make sure you are getting the most out of your connection?
I install - Naked DSL, DSL Master Splitters, VoIP, data cabling and general computer support for home and small business.

 

Cel-Fi supply and installer - boost your mobile phone coverage legally
Rural Broadband RBI installer for Ultimate Broadband and Full Flavour

 

Need help in Auckland, Waikato or BoP? Click my email button, or email me direct: [my user name] at geekzonemail dot com


Paul1977

3425 posts

Uber Geek


  #2001515 24-Apr-2018 11:48
Send private message

coffeebaron: It will also depend on when the retailer does their bank transaction check, which if only once a day, then I guess it will be tomorrow :(

 

I'd imagine they normally would only do it once a day, but I'm hoping they might check specifically for mine if I ask.


floydbloke
2296 posts

Uber Geek


  #2001549 24-Apr-2018 12:28
Send private message

Paul1977:

 

Thanks.

 

I'll give it 2 hours from when I initiated the transfer then email them.

 

 

Sounds like you're really keen to get your hands on whatever you've bought very soon.  Maybe you should phone them. 

 

Emails, especially to generic mailboxes, don't tend to get checked, let alone actioned, as often and quickly  as customers would like to think.  (This is of course a gross generalisation mainly applicable to large organisation, and I'm sure there are plenty of small business out there who pride themselves on prompt response and turnaround.)





= > ÷

 

 


Paul1977

3425 posts

Uber Geek


  #2001648 24-Apr-2018 13:59
Send private message

floydbloke:

 

Sounds like you're really keen to get your hands on whatever you've bought very soon.  Maybe you should phone them. 

 

Emails, especially to generic mailboxes, don't tend to get checked, let alone actioned, as often and quickly  as customers would like to think.  (This is of course a gross generalisation mainly applicable to large organisation, and I'm sure there are plenty of small business out there who pride themselves on prompt response and turnaround.)

 

 

As it turns out, the order status updated to "Paid" before I had a chance to email them.


 
 
 
 


Coil
6615 posts

Uber Geek
Inactive user


  #2001652 24-Apr-2018 14:08
Send private message

If I pay my friend who is Westpac it is always overnight from ANZ and ASB. Same with receiving payments.
I have noticed this is only the case with Westpac.

 


Cheers

 

 


Handsomedan
3123 posts

Uber Geek

Trusted
Subscriber

  #2001695 24-Apr-2018 15:00
Send private message

Under SBI, participating banks will settle multiple times per day (usually hourly, although some banks tout that they do this more frequently).

 

This means that the longest a payment should take is an hour - sometimes it'll be far quicker.

 

A same-bank payment should appear virtually immediately, as it doesn;t need to leave their environment.

 

 

 

From Payments NZ's website:

 

Settlement occurs multiple times throughout the business day and each settlement is closely followed by the exchange of the payment information (interchange) between Participants - Settlement Before Interchange.

 

For example, if you need to pay a business whose account is at another bank, you might set up a bill payment through your internet banking. Your bank will then take your payment request, along with those it has received from other customers, and create the payment instruction to send to the other bank. When this is sent, your bank pays the money to the other bank (called ‘settlement’) and once this payment between the two banks has occurred, the payment instructions are received and processed by the recipient's bank (called ‘interchange').

 

 





Handsome Dan Has Spoken.
Handsome Dan is also still somewhat perplexed...


Create new topic





News »

Nanoleaf enhances lighting line with launch of Triangles and Mini Triangles
Posted 17-Oct-2020 20:18


Synology unveils DS16211+
Posted 17-Oct-2020 20:12


Ingram Micro introduces FootfallCam to New Zealand channel
Posted 17-Oct-2020 20:06


Dropbox adopts Virtual First working policy
Posted 17-Oct-2020 19:47


OPPO announces Reno4 Series 5G line-up in NZ
Posted 16-Oct-2020 08:52


Microsoft Highway to a Hundred expands to Asia Pacific
Posted 14-Oct-2020 09:34


Spark turns on 5G in Auckland
Posted 14-Oct-2020 09:29


AMD Launches AMD Ryzen 5000 Series Desktop Processors
Posted 9-Oct-2020 10:13


Teletrac Navman launches integrated multi-camera solution for transport and logistics industry
Posted 8-Oct-2020 10:57


Farmside hits 10,000 RBI customers
Posted 7-Oct-2020 15:32


NordVPN starts deploying colocated servers
Posted 7-Oct-2020 09:00


Google introduces Nest Wifi routers in New Zealand
Posted 7-Oct-2020 05:00


Orcon to bundle Google Nest Wifi router with new accounts
Posted 7-Oct-2020 05:00


Epay and Centrapay partner to create digital gift cards
Posted 2-Oct-2020 17:34


Inseego launches 5G MiFi M2000 mobile hotspot
Posted 2-Oct-2020 14:53









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.