NPP Payment from CBA to CBA put on hold (Used Westpac & no hold)

Hi all, I know 'cash is king' but I had a scenario where I visited a FS shop and made a first time transfer to the receptionist for $540 from CBA to CBA and it got put on hold, I did another transfer from a different CBA account to the shop and again it was put on hold. Transfer showed as pending in the app now my balance is down $1K and I showed the receptionist but of course if they don't get the funds immediately then no service. So I transferred $540 from my Westpac account to CBA via NPP using the app and he got the funds straight away.

Shop receptionist transferred all of my CBA funds back once it hit their acct. :miao: but it took 2 business days for the pending to clear... :sweat:

always use cash for shops golden rule.

CBA hold the payment for a while for first payment to new account, it happened to me earlier, and i called them. I think this is to prevent scam payment (you can call the bank within that time and ask for reverse the transaction).

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CBA is just shit now with bank transfers. They even hold up PayID transactions. If it's simply to prevent scam payment, they should have a process to allow account holder to approve it over phone call or something.

I've never had any issues with CBA bank transfers. Funds always arrive within a few minutes. Maybe they know the recipient is a sex business and are giving you time to change your mind if you don't fancy the merchandise! :D

never had any problem with payid especially to a phone number even first time
been awhile since i did a normal transfer with bank so unsure

From Comm Bank website:

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First-time and some other transfers may be held for 24 hours though as a security measure. Your account balance and available balance will be updated immediately in NetBank once you make the transfer.

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I doubt the fact that it is a sex shop is relevant. It has happened to me, and I recall I got an email to say what happened.

Don't know about other banks yet.

Not surprised to see this. CBA have been under APRA's spotlight ever since that ATM money laundering scandal some 5 or 6 years ago. Now all they can do is try their best to be on APRA's good books, even if it means going above and beyond their regulatory obligations.

You'd think that they held your payment to safeguard your wellbeing? Nope, it's all about making sure their hands aren't dirty.

I always use cash. No trace of my private activities

Be very careful because banks do shut down accounts (they call it debanking clients) when they see what they consider unsavoury transactions or want to AML (anti-money laundering) clients.

A small, one off, transaction is hardly likely to set off AML alarms. Large, repetitive transfers might.

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Originally Posted by GoldfishMan

Not surprised to see this. CBA have been under APRA's spotlight ever since that ATM money laundering scandal some 5 or 6 years ago. Now all they can do is try their best to be on APRA's good books, even if it means going above and beyond their regulatory obligations.

You'd think that they held your payment to safeguard your wellbeing? Nope, it's all about making sure their hands aren't dirty.

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That was fucking hilarious, drug dealers were stuffing so much money into ATM deposits that the box was full. No one at CBA thought this was weird. Heehee.

And because the deposits were accepted straight away the money was immediately transferred overseas, again not weird.

They're just covering their arses these days.

That was what I told their agent over the phone when they said it's for "safety reasons". Holding up my transaction is exactly why people would think I'm a scammer.

I think if it's first time payment to a new bank account for over $100 it may take 24 hours to clear.

I prefer to use cash, however if I'm in a rush and can't find ATM then use payid.

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Originally Posted by ColesBag

That was fucking hilarious, drug dealers were stuffing so much money into ATM deposits that the box was full. No one at CBA thought this was weird. Heehee.

And because the deposits were accepted straight away the money was immediately transferred overseas, again not weird.

They're just covering their arses these days.

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Knowing how they work, it was probably "change management" that allowed the big gaping hole to persist. That department is always the weakest link in a big bank like CBA. Filled with poor, clueless souls being saddled with the job of "approving" changes with zero training and zero knowledge, and then having to wear the risks of their decisions on their necks.

A truly unenviable position!

As the shop is CBA too, the bank would be able to see very easily the transaction volume and nature of transactions that the shop account does which they may already be suspicious of. Therefore, any new payments in there are put are on hold to cover CBA’s arse.

Another thing…use the description box on your payments, even if it isn’t exactly true lol. $540 with no message v. $540 with “landscaping” or “invoice 001347” etc is going to be treated differently.

Thankfully no harm done in the end - but this should be enough of a scare to make the effort of going to an ATM beforehand!