Direct deposit

[falcongtho19685]

Hi everyone, yesterday I deposited money into a company's bank account. The bank" they" use is Westpac, not my bank. Today they say the money hasn't cleared yet. How can that be,when the money has gone directly into their account and their bank?
Any answers would be appreciated. .Thankyou

[performance_parts_clearance_centre]

I'd probably wait another day or two - not at all unusual for counter deposits to take a couple of days to show up in the recipient's account (happened to me more than once!).

[falcongtho19685]

Okay. Thanks

[padi*0409]

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@falcongtho19685 wrote:
Mmmmmm, I have the receipt from the bank. I don't think there are going to be any problems . If it does turn out negative, Office of Fair Trading or the likes,will be mentioned to the company. As well as some negative reviews.

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Numerous members have come to the boards after paying by bank deposit and then having problems with the seller, hopefully your seller is honest, but many aren't, and in a lot of cases the buyers have lost their money. 

I hope there's not too much money involved with this, but I would very strongly urge you to use Paypal in the future to avoid any problems.

[falcongtho19685]

Hi everyone, you wont believe it, but just received confirmation my payment has been processed. Fewwww. Still can't understand why the payment didn't -doesn't show up straight away. Anyway.
Thanks everyone. ..

[twyngwyn]

ex-banker here: sometimes the banks 'hold on to the funds'...usually notorious on weekends in my experience

[lyndal1838]

Most banks don't do transaction runs over the weekend.

I know if I transfer funds on a weekday before 5.30pm they are usually received next day but if I do it on Saturday or Sunday it does not transfer till Monday night, so received Tuesday.

The only exception is between my St George accounts and Westpac accounts...they transfer every day even weekends.

[*bellee*]

From my experience, I've noticed sometimes the balance goes up, but information about where the money came from doesn't appear until perhaps the next day.