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Info on Net Banking plz

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amazer kombi pilot

3,187 posts · joined Aug 2002 ·

#319944
OK with all this selling off my 15 year collection of dubcrap I've set up a bank account that I can use exclusively for net business. I will let people pay in, and I will transfer the money into the normal sacred account. Its just my little bit of insurance for when someone figures out how to withdraw my money, they wont find any there. Scared of sending bank account details around the internet and stuff.

The question is, when someone deposits money electronically into my account (and I have total belief that he has) how long does it take for it to turn up in my account.. because it hasnt as yet. If there has been any problems its probably the banks fault with the new account. I'm probably panicing early because it hasnt been 24 hours.
Chris.... kombi pilot, oval dreamer... finisher #26971 2005 city to surf

amazer kombi pilot

3,187 posts · joined Aug 2002 ·

#319950
Thanks. I thought that would probably be the case. Stupid banks, thought the internet was supposed to make things happen fast!
Chris.... kombi pilot, oval dreamer... finisher #26971 2005 city to surf

BiX Veteran Volks Folk

2,499 posts · joined Sep 2002 ·

#319952
i think most accounts are finilized on the next business day at midnite. sometimes also transactions must be in by 5pm sydney time. eg, if something was transfered at 8pm on last nite (tues) it should be finilized either last nite, but may wait till tonite to be completed. i think it depends on the bank. also any weekend transactions will not go through till monday nite.

you may find the money there but not showing on the transaction lists also until finalized.

[Edited on 16-3-2005 by BiX]
I have no sympathy for my car, only the wallet that pays for it!
Go hard or go home!!!!

EgeWorks Wolfsburg Wizard

602 posts · joined Jan 2004 ·

#319966
In some cases it will take up to a few day to appear in your account. I do netbanking with Westpac and for all "new" people you pay to they withhold payment while they check the validity of the payee. The other day they called me up after I payed a largeish amount to a business (for VW stuff of course) asking me if it was made by me, or someone had stolen my details, so the system actually works.

toplessbug Fahrvergnugen

879 posts · joined Aug 2002 ·

#320043
i get a lot of money paid into my business account and it can easily take 3 working days to complete the transaction even tho its done on the puter ,,,however the theiving banks wip the money out of your account at the close of business that same day when i pay an account in a similar manner so they have the pleasure of my and your monies for 36 hours to play on the short term market and make a few more bucks at no cost to themselves too easy !!!!!!!!!!! now dont panic and have a beer or 3 while you wait for the rogues

squizy Thinking about another dub...maybe

4,082 posts · joined Dec 2002 ·

#320264
In working for a large IT company that manages one of our majors Banks IT.....I'll add my 20c. Most cash transaction will process overnight, with batch runs occuring between 01.00 and 04.00. If your funds are coming from another Bank....and not the Bank you're with....then they will need to clear. Cheques of course still have a 3 day turnaround, and if you process something on a Friday, it won't go through until the Monday. Simple huh?

The security systems that are in place are rigourous....so long as you don't give out your passwords to anyone....especially with all the ghost websites and fraudulent emails coming from Russia.

68AutoBug Beetle Restorer - Experience over 138\% - YIKES --

11,654 posts · joined Aug 2002 ·

#320285
I've been Netbanking with the CBA Bank for many years...
I was the ONLY Netbanker at the Scone branch for many years....
At first I didn't like to give out details , so i used to phone the numbers thru, but Now I do it Over the Internet frequently...

I believe Netbanking was a lot faster years ago...
It was also free years ago... until they got most people with computers to use it... then they started to charge for it...
If the money comes from a small building society or bank from interstate, it can take a few days to show up....
I have transferred money into other peoples bank [ebay]
and they have confirmed the money came thru, VERY FAST,
but what it is, they kept an up to date Balance on their money in that account - Maybe an ebay ONLY a/c... so as soon as the balance went up... they knew they had the money-- which is sometimes 3 days before the actual showing of the transaction on their Net Banking a/cs..

Otherwise just wait.... until it shows on Your account.....
or do the balance thing....
Netbanking is VERY Safe....
Remember - Your Password shouldn't be in a dictionary....
otherwise You are asking for trouble...
and use letters & numbers....

Best of Luck...

Lee Noonan A Netbanker since it started....
- Helping keep Air Cooled VWs on the road - location: SCONE in the Upper Hunter Valley - Northern NSW 320 kms NNW of SYDNEY---

65busser Moderator Custom Title Time!

1,795 posts · joined Nov 2002 ·

#320302
Paypal has now recognised Australia and guarantees security. Check it out.

www.busnbug.com

vanderaj Administrator a suffusion of yellow

3,130 posts · joined Aug 2002 ·

#320308
Net banking has the lowest levels of fraud of any of the major forms of banking. However, it does get a lot of "Current Affair" type of press.

The three things you have to remember to do:

* keep your password to yourself. Don't tell anyone what it is. Change it from time to time. Banks will never ask you for your password, particularly if they ring you.

* keep your computer up to date, use (and update) anti-virus and anti-spyware tools.

* banks do not send e-mails to you with links in them. Always type the bank URL in yourself to log on to Internet Banking.

If you insist on using peer to peer software to commit copyright infringement, like Kazaa, or eDonkey, be aware that the vast overwhelming majority of this type of software (even the "lite" versions or some Bit Torrent clients which claim to be free of them) have spyware in them. Some really offensive programs use an intercepting proxy and report back your username and password to a third party and your information and browsing habits are sold to other companies. Get it off your PC immediately.

If you get an e-mail from a bank, 99% of the time it is a fraud (phishing) attempt. Do not click any links in e-mails asking you to confirm your password or account details. If you get a suspicious e-mail, look at your bank's web site - they will have an e-mail address where you can report the spoof. In the NAB's case, it's spoof@national.com.au

If you think something's wrong, e-mail or phone the bank immediately. You're only liable if you've been negligent (ie gave the password out, etc), or failed to report the issue. Even then, most banks have limits for this liability.

Andrew

amazer kombi pilot

3,187 posts · joined Aug 2002 ·

#320388
Im sure it will be fine. As I said in my question, I wont be keeping any money in this account.

My trading partner and I are both net banking virgins so we are a little tense. Just like being a true virgin and waiting to see if she got pregnant LMAO. :thumb
Chris.... kombi pilot, oval dreamer... finisher #26971 2005 city to surf

vanderaj Administrator a suffusion of yellow

3,130 posts · joined Aug 2002 ·

#320406
What about a little bit pregnant? 😉

Andrew

Che Castro ankle straps

1,945 posts · joined Aug 2002 ·

#320500
I use CBA netbank for pretty much most of my transactions. Never had a problem with it, seems pretty secure.

Although they charge $0.30 to transfer money online. bah
Jon