Account deposits and electronic transfers from other banks are processed to your account half-hourly between 9:15am and 11:30pm each day. The exception to the rule is: If the expected payment is a future-dated transfer between your Westpac accounts then it will take place before any other planned payments.
Pay Anyone payments to an existing Westpac payee are received the same day, even on non-banking days. The funds are available immediately, but might not be included in the account balance until the next banking day.
Automatic payments are processed 365 days a year. Automatic payments are processed at 7am. If there are insufficient funds available the payment will be retried at 10pm that day and 7am on the following day.
While the day cycle for processing ACH transfers is 8:00 a.m. to 1:00 p.m. EST, the night cycle usually runs from 10:00 p.m. to 1:30 a.m.
Business days for banks are typically Monday through Friday from 9 a.m. to 5 p.m., excluding federal holidays. Transactions received outside of these hours are typically posted on the next business day.
Once your employer processes and deposits your paycheck, you can expect the money to arrive in your bank account at midnight the day before the pay date.
Many business owners assume that BACS payments are credited to their recipients at midnight on the day of allocation. However, most BACS payments are made between 1am and 7am on any given day.
Exactly what time direct deposit hits varies by bank, but for most, you can expect the direct deposit to post at midnight.
Banks generally post deposits before withdrawals. However, the law does not require this. In addition, banks may establish a cut-off time for deposits made at a branch or through an automated teller machine (ATM). Deposits made after that time may be treated as having been made on the following business day.
The receiving bank is still processing the money
But some banks are slower than others — they might take up to 1 working day for them to release the money. So your money's safely on its way, but the recipient bank is still processing it. Your recipient can ask their bank to speed this up.
Westpac was founded in 1817 as the Bank of New South Wales, and was the first company and the first bank to be established in Australia. In 1850 the bank was incorporated by an Act of the New South Wales Parliament. We became Westpac Banking Corporation in 1982, following a merger with the Commercial Bank of Australia.
8:00 p.m. ET for next-business-day or 3-business-day transfer. Funds will be received by the recipient's bank either the next business day or within 3 business days. 5:00 p.m. ET for same-business-day (wire) transfer. Funds will be received by the recipient's bank on the same business day.
Interest is paid on the last business day of each calendar month. Balances in your account on and after the last business day won't be included in the interest calculation for that month but will be included in the interest calculation for the following month. Balances include deposits made to your account.
In most cases, the money from a check you've deposited will appear in your bank or credit union account in just one or two business days. But in certain situations, it could take up to six more days.
We take the money from your account immediately, and then send it to the other bank to process. If you set the payment up between 9am and 10pm, it will be sent that same day. If you set up the payment after 10pm, we'll send it the morning of the next day.
The time it takes for a bank transfer to be successful depends on a number of factors, and some of these factors could cause a delay. These factors include the timing of the transfer, where the transfer is being made, the currencies involved, security checks, bank holidays, and the reasons for the transaction.
Usually, you'll have access to your direct deposit at the opening of business on your payday — by 9 a.m. In many cases, direct deposits hit accounts even earlier, often between midnight and 6 a.m. on payday morning. But there are factors that can affect how long it takes your direct deposit to become available.
Generally, a bank or credit union has until at least the next business day to make most deposits available but can make them available sooner if it wishes.
Some banks or credit unions may make funds available more quickly than the law requires, and some may expedite funds availability for a fee. If you need the money from a particular check, you can ask the teller when the funds will become available.
What Time Do Direct Deposits Hit Your Bank Account? Each bank has different rules, but you can expect most direct deposits to hit your bank account at midnight. This is because some financial institutions update their accounts a few hours after midnight.
If you are making a payment after 6.30pm, on a weekend, or a Bank holiday, the payment will normally leave you account immediately and be available in the recipient bank account within a few hours.
The Uniform Commercial Code's (UCC) midnight deadline rule imposes an obligation on payor banks to return dishonored checks before midnight of the next business day after the date of receipt of the item.
Depending on your bank, funds will generally be available shortly after midnight on the day the payment is due. Some bank will deposit money slightly before midnight at around 11:30pm while other will release funds later in the night between 2am and 3am, others may have to wait until 6am.
First-time payments to or from an account linked to yours that you have authority to access, but belonging to someone else or an entity (e.g. Business accounts or accounts accessed by parents/legal guardians, Power of Attorneys, etc.), may take: 24 hours for transfers made before 7.30pm AEST.