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csinclair83
31-03-2006, 05:16 PM
I've just brought something off Trademe now, and am wanting to make payment so seller can send immediately, but its a bit late to race down 2 the bank, so will go the lazy way and use Internet Banking...
But would they get the money tommorrow? even if its Saturday?

I'm with ANZ, Seller is with TSB?

CYaBro
31-03-2006, 05:33 PM
The money should show up in their account tomorrow but in saying that some banks can take 2 working days for it to show up.
Only way to make sure money will be in their account by tomorrow is to get cash and take it to a TSB and deposit it.

Terry Porritt
31-03-2006, 05:48 PM
For what it's worth, :groan: with Westpac it would be Tuesday before it appeared in recipients account, if the online payment was made today.

csinclair83
31-03-2006, 05:55 PM
BNZ is the same..

bugger them, just made the payment neway....have screenshotted the receipt and attached to email and asked them nicely if they could post it 2morrow even if moeny wont turn up till monday....am awaiting rejection lol. (paid $30 more than reserve as they only wanted $20,....I asked if they would put a buy now...they put 50...i didnt complain...so hope that got me in their good books lol)

no TSB here anyway so yeah, havent even heard of them...went to website adn found it was taranaki savings bank....no wonder its not here lol...no where near da naki...

brig
31-03-2006, 08:22 PM
A TradeMe seller showed me once the fastest way to transfer money......7 days a week.

He had an account with the TAB and he supplied me with his account number.

I went to the local betting shop, paid the money into his account, and he was able to access it instantly......no waiting.

:cool:

brig

EX-WESTY
31-03-2006, 08:37 PM
TSB is available nationwide thru chequebook, eftpos card or bankcard. All the bank machines accept their card and no fee's either if you have more than 5K in the account. Deposit to an account is simple as well as NZ Post / Books & More is an agent so can be done their or post the cheque to them in the free envelopes they supply.

Greg
31-03-2006, 08:46 PM
I'm with Westpac, and if money is deposited in my account from any other bank it takes 5 working days for it to become available to me. But it will show in my account the next working day.

PaulD
31-03-2006, 09:11 PM
5 working days implies that the deposit was by cheque, if it was cash or transfer from another bank it should be available the next day or change banks.

Greg
01-04-2006, 12:26 AM
5 working days implies that the deposit was by cheque, if it was cash or transfer from another bank it should be available the next dayNope - this is via Internet banking.

zqwerty
01-04-2006, 12:39 AM
Transfering money via internet banking takes a couple of days, they need a wake up call. They are still in the 19th century, the slackers. The costs are outrageous as well.

Parry
01-04-2006, 12:40 AM
How quickly the transaction gets between banks is determined whether its real time or a batching process & I believe your banks IB is batching. Each night banks do an end of day batch processing in the early hours of the morning and files are swapped between banks. These post the funds into the account and appear the next morning. If the transaction itself was on the weekend then these are heldover to Monday nights processing as if the transaction itself had occured on Monday (assuming no public holiday).

The nature of the transaction and the destination bank will determine the period of clearance. Internet Banking being an electronic method of payment should be treated as cleared funds by the receiving bank so they should post the funds to their customers account in such a way that its available immediately.

However, not all electronic transactions are treated as equal though. An automatic payment for example would not be treated as cleared funds by some receiving parties whereas a pay schedule would.

The short answer is yes your payment on Friday before your banks cutover (8PM?) will be in Friday nights batch so processing on Saturday morning should see the funds in the TSB persons bank. I would expect TSB to treat these as cleared funds for their customers presuming your banks batching details identified the funds as cleared.

Personally I use IB to transfer because of the convenience and the quick clearance of the funds.

pctek
01-04-2006, 09:00 AM
TSB is available nationwide thru chequebook, eftpos card or bankcard. All the bank machines accept their card and no fee's either if you have more than 5K in the account.
Yeah $5000.
Whereas PSIS you only need $500.

FoxyMX
01-04-2006, 09:08 AM
I recently transferred money via internet banking first thing in the morning and had my computer part in my hot little hands by 4pm that same day. Was very surprised as I am sure the dealer wouldn't have sent it unless he had received the funds first. Obviously some banks are on the ball.

csinclair83
01-04-2006, 10:18 AM
if i wait until 10:15pm on nights like tuesday to thursday, they receive the money 10-15 mins later (happens quite often to me as i transfer money to gfs account) but the catch is....anz to anz...
but anz to BNZ takes 2 nights....
anz to tsb...dunno yet depoisted the funds after 4:30pm yesterday and ahvent heard from seller yet....so yeah....

and with westpac, i've seen faster transcations than 5 working days....but if you're serious then they are really really slack....anz and bnz and probably tsb as you say is either next day or 2 days later....

dolby digital
01-04-2006, 02:35 PM
A TradeMe seller showed me once the fastest way to transfer money......7 days a week.

He had an account with the TAB and he supplied me with his account number.

I went to the local betting shop, paid the money into his account, and he was able to access it instantly......no waiting.

:cool:

brig

I love it. Maybe the TAB should open as a bank :D

Graham L
01-04-2006, 03:12 PM
The TAB take "investments", already.

csinclair83
01-04-2006, 03:17 PM
just so you guys know...
the package was sent today based on my good feedback history (thats what he said) but i think the screenshot helped 2 my advantage...

tab hmm thats a interesting way to go lol..they should start a banking service lol

Jester
01-04-2006, 07:44 PM
My :2cents:

I'm with Westpac and have bought and sold goods on TradeMe. Money has always shown in the other person's bank the day after I transferred it, and in mine the next day it was transferred to me, and I was able to draw on it as soon as it showed.

It says when doing an online payment (make a once only payment) that if processed after a certain time (10.00pm?) then it will not be actioned till the next day, so maybe that's the reason for delays.

It's unusual how so many of us have differing experiences!

snoozee
01-04-2006, 09:10 PM
If you use internet banking tonight the credit will go through as cleared funds on Monday night ie the person can access the funds on Tuesday. (depending on the bank they may be able to access Monday, the credit may be showing against their account as a "credit held" )

Transactions are processed on 'Business days' only, unless you are transferring between your own accounts via the internet then your money is available straight away i.e even in the weekends

kyokei
03-04-2006, 08:52 PM
Nope - this is via Internet banking.

Are you sure? I work at Westpac & haven't encountered anyone with this problem before.