Understanding Bank Transfer Speeds
When moving money from your ANZ account to a Bankwest account, the transfer time largely depends on the payment method you select. Thanks to the New Payments Platform (NPP) utilized by most Australian financial institutions, the days of waiting several business days for a simple money transfer are largely over. Both ANZ and Bankwest fully support Osko and PayID technologies, meaning the vast majority of everyday transfers between these two banks clear in under 60 seconds.
However, if you opt for a traditional Electronic Funds Transfer (EFT) using a BSB and Account Number without Osko routing, standard processing times apply. These traditional transfers typically take one to two business days to land in the Bankwest account, especially if initiated after daily processing cut-off times, which vary depending on the channel and payment type. Below is a detailed breakdown of transfer timeframes and how to execute your payments securely.
ANZ to Bankwest Transfer Timeframes
| Transfer Category | Estimated Processing Time |
|---|---|
| Osko / PayID Transfer | Under 60 seconds (24/7) |
| Standard EFT (BSB/Account) | 1 to 2 business days |
| First-Time Payee Transfer | May be subject to a security hold or delay (Up to 24-hour) |
| Weekend/After-Hours EFT | Processed the next business day |
Step-by-Step: How to Transfer from ANZ to Bankwest
- Open the ANZ App on your mobile device or navigate to ANZ Internet Banking on your computer and click Log In.
- Enter your Customer Registration Number (CRN) and password, or authenticate using biometric login (FaceID/Fingerprint).
- Navigate to the Pay & Transfer tab and select Pay Anyone.
- Select to pay via a registered PayID (mobile/email) or enter the Bankwest BSB and Account Number.
- Input the transfer amount, finalize the description, and authorize the payment by entering the SMS One-Time Password (MFA) sent to your registered mobile device.
Troubleshooting Common Transfer Hurdles
- MFA Delays: If the SMS code required to authorize your ANZ transfer doesn't arrive, ensure your phone has cellular reception rather than just Wi-Fi. You can also bypass SMS entirely by using the ANZ Shield app to generate secure, offline authentication tokens instantly.
- Browser Cache Errors: If the internet banking screen freezes after hitting the submit button, do not click it again, as this can cause accidental double transfers. Clear your browser's cache or log in via an Incognito window to confirm if the funds have successfully left your account.
- Locked Digital ID: Entering the wrong password or MFA code multiple times will lock your ANZ profile, pausing any pending transfers. Click the Forgot Login Details link to securely reset your credentials using your linked bank card and mobile number.
Pro-Tip: To guarantee an instant transfer, always ask the Bankwest recipient for their PayID (typically their mobile number or email address) instead of their BSB and account number. PayID automatically utilizes the Osko network. Be aware, however, that ANZ may apply a security hold on payments to new recipients, which can delay processing depending on risk checks.
Frequently Asked Questions
Do ANZ to Bankwest transfers process on weekends?
Yes, but only if the payment is processed via Osko or PayID. The Osko network operates 24/7, 365 days a year, including weekends and public holidays. Traditional EFTs sent on a Friday evening will not be processed by the banks until the following Monday.
Why is my transfer to Bankwest taking longer than usual?
If you used a BSB and account number, you may have initiated the transfer after ANZ's 6:00 PM daily cut-off. Additionally, if the transfer amount is unusually large or going to a brand-new recipient, the bank's fraud detection systems may delay processing while additional checks are completed.
