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Commsec / Bankwest

Discussion in 'Other Asset Classes' started by wombat777, 26th Jun, 2016.

  1. wombat777

    wombat777 Well-Known Member Premium Member

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    Since CBA/Commsec and Bankwest are part of the same group of companies, can anyone confirm whether transfers of funds between accounts with these institutions are instant?
     
  2. TwoDogs

    TwoDogs Well-Known Member

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    I wouldn't know but is the bank number part of the BSB for each account the same ? For CBA that's the 06 in 06x-xxx. If they are, then it's possible, if not then I don't think so.
     
  3. gecko235

    gecko235 Member

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    No I dont think so. My gf and I tried buying a phone and it ended up taking so long we moved money over from another account.
     
  4. ErYan

    ErYan Well-Known Member

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    No. Transfers between cba accounts aren't instant either.

    Nice way to make money for the banks. The way Richard Pryor did in Superman 3. Skim off the small money in this case whilst "in transit". Make up some ridiculous excuse when everyone knows that these could be done instantaneously.
     
    Excalibur1 likes this.
  5. Ghoti

    Ghoti Well-Known Member

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    Only instant between your own accounts within the one Bank. Even though different banks may belong to same group (e.g. Westpac/BoM or CBA/Bankwest) still legally required to undergo sanctions & laundering screening, clearance and ledger balancing so usually an overnight process at best.
     
  6. ramblin72

    ramblin72 Well-Known Member

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    I have an account with both and I've noticed if I trf from CBA to Bankwest early in the day its sometimes there that night. If I post later in the day, the money is in the next morning. I personally think it is quicker between them but not instant.