On Saturday two “PayID” money transfers for me was set up in a Commonwealth Bank account. When the transfer fund arrangement was set up there was a warning that the funds would be held for 2-days as a security because it was “a new account”.
I have set up a number of “PayID” transfers and I have never had a delay for the money to be moved to a NEW account!
2 Likes
I had a similar problem with them recently: I transferred a large amount of money from NAB - an fast Osko transfer - to my son’s Commonwealth Bank a/c - the wrong one (my mistake).
He returned it within a couple of hours, but it took nearly 3 days to actually land in my account… I call that shonky!
1 Like
Never discount the possibility that they are doing this because the government requires them to, either by law or in practice.
1 Like
