Understanding Transfer Speeds Between the Two Banks
If you’re moving money from Commonwealth Bank to Bankwest, you might assume it happens right away since CBA owns Bankwest. In practice, the two banks run on separate core banking platforms, which means your payment is treated as a standard inter-bank transfer.
Fortunately, most transfers between the two banks are very fast. If both accounts are set up for Faster Payments, the money usually arrives in a matter of minutes. However, if you’re sending a large amount for the first time or using older payment methods, security checks can slow things down.
| Category | Details |
|---|---|
| Transfer Methods | Osko / PayID or standard BSB and Account Number |
| Typical Processing Time | Under a minute via Osko, or 1 to 2 business days for standard transfers |
| First-Time Payments | CommBank typically holds the transfer for up to 24 hours for security |
| Key Requirements | Correct Bankwest BSB (usually starting with 30) and Account Number |
How to Send Funds to Bankwest
To make sure your transfer goes through as quickly as possible, follow these standard steps using the CommBank App:
- Open the CommBank App on your device and log in using your PIN or biometrics.
- Tap the Pay someone option from your main dashboard.
- Choose whether you want to pay to a registered PayID or use a standard BSB and Account number.
- Enter the Bankwest details. The system will usually detect if the receiving account accepts Faster Payments (Osko).
- Review the details, enter the transfer amount, and tap Pay. If prompted, authenticate the transaction using your NetCode SMS.
Troubleshooting Delayed Transfers
If you run into trouble while trying to send your money, here’s how to handle the most common issues:
- NetCode SMS delays: Sometimes, you won't receive the SMS code needed to confirm the payment. This usually happens because of mobile network congestion. Give it a minute, ensure your phone has a strong signal, and request a new code. If it still fails, you'll need to call CommBank to verify your contact details.
- CommBank App freezing: If the app hangs on the final confirmation screen, it’s often due to a poor internet connection or outdated app data. Close the app completely, check your Wi-Fi, and log back in to see if the payment went through before trying again. You can also use NetBank on a desktop browser as a reliable alternative.
- First-time security holds: If your payment is marked as "Pending," CommBank's fraud prevention team might be holding the funds. This is a standard safety measure for first-time transfers to a new Bankwest account and usually lasts 24 hours. You simply need to wait it out, or call CommBank directly if you believe it's an error.
Pro-Tip: If you need to send a large amount of money to a new Bankwest account—like a deposit for a car or rent—try sending a small $1 test payment first. Once the initial 24-hour security hold clears on that small amount, the Bankwest account becomes a "known payee" in your CommBank app. This means your larger follow-up payment will typically process much faster, often within minutes.
Frequently Asked Questions
Why hasn’t my payment arrived at Bankwest yet?
If you sent the money to a new payee, CommBank often places a 24-hour security hold on the funds to protect against fraud. Alternatively, if the payment was sent using standard routing after the 7:00 pm AEST cut-off time on a Friday, it won't be processed until the next business day. In most cases, if it has been more than two business days, you should ask CommBank to formally trace the payment.
Can I cancel a transfer if I used the wrong Bankwest BSB?
If you used Osko or a PayID, the transfer usually happens too fast to cancel. If the account details don't match a real account, the money will typically bounce back to your CommBank account within a few business days. However, if the payment went to an active, incorrect account, you'll need to contact CommBank right away to lodge a misdirected funds recovery request.
Do transfers take longer on public holidays?
This depends on the transfer method. If the payment goes through the Osko network, it processes 24/7, meaning public holidays won't slow it down. But if your payment is sent as a standard electronic transfer, the banking system essentially pauses on weekends and national holidays. In that scenario, your funds will likely arrive on the morning of the next regular business day.
