Payments & transfers

On Sunday 10 November 2013, we made important changes to the way we process payments to help you get your money moving faster. All the information about these changes can be found here and for Business Online Customers in the business payment solutions section.

Payments from 10 Nov

We’ve made changes to processing times for planned payments (bill payments, one time payments dated in the future including the Pay Tax option) and Automatic Payments. These will be processed first thing in the morning instead of in the evening on the selected payment date.

Direct debits and cheques are not impacted by the changes.

If you have set up a payment from Monday 11 November 2013 you will experience the following:

  • Payments made to other Westpac customers - There is no change to payments (apart from Automatic Payments) made to other Westpac customers via Online Banking, Phone Banking or Mobile Banking, they will continue to receive the payment immediately.
  • Payments to other banks - The key change is that planned payments and Automatic Payments will leave your account first thing in the morning on the selected date of payment, instead of in the evening.  This change helps ensure payments are successfully processed on the due date.
  • Payments from other banks -You’ll see payments sent by other banks appear in your account during the day rather than at the end of the day. The money will be available to spend immediately if the other bank has cleared the payment before sending it to Westpac.

Automatic Payments and planned payments are normally processed from your account before the first payments arrive from other banks for the day. So, to ensure your payments go out on time, make sure that any transfers or money required to fund your Automatic Payments and planned payments are in your account the day before the selected date of payment.

You can set up payment alerts to help

We can also alert you by email or text when a planned or Automatic Payment is unsuccessful for the first time, alerting you to fund or modify the payment before the next attempt that evening. These alerts help you make your payments on time and avoid any failed payment fees.

We also have alerts that give you either regular balance updates, tell you when your balance has gone below (or above) a certain level or when your Credit Card is due.

E-mail and txt alerts are free. You can set these up by selecting ‘Email & txt alerts’ from the left hand navigation within Online Banking.

> read more about email & text alerts  and sign up today!

Questions about payments after 10 November

What if there’s not enough money in the account?

If you don’t have enough money in your account to cover your payment that morning (before 7am), on the day it is due, it will fail. If it fails, and you have set up a payment alert, you will be notified by text or email that morning to give you time to transfer the money. We will then retry your payment again in the evening (after 9pm), to help make sure it goes out on the due date. If necessary, we’ll retry once more at 7am the next day for planned payments or 7am the next business day for Automatic Payments. You’ll have until this time to transfer cleared funds (available money) into the account so the payment will be successful on the final retry.

If you have a planned payment due to be 'retried' you will receive a message when you log in to Online Banking and can cancel or change the payment in 'View, Amend or delete planned transactions & Automatic Payments'. Automatic Payments can be, suspended or cancelled using Online Banking while the payment is waiting to be retried.

If the final retry is not successful you’ll experience the following depending on the payment type: 

  • Automatic Payments – the payment won’t be paid and an AP failed fee of $19 will be applied (as it is currently).
  • Planned payments - the payment will be cancelled (as it is currently).

Other fees you may incur:

  • If you have to amend an Automatic Payment you’ll be charged Free for doing it online.
  • If your payments fail and put you into an unarranged overdraft you'll also be charged $15. 
Can I cancel a payment?

Payments you make to other people in Online Banking can no longer be cancelled once they are processed. If you do make a payment in error, there are two options available to you:

a) Contact the recipient of the payment and request that they send the funds back to you.

b) Contact your nearest Westpac branch or the Contact Centre (0800 400 600) and request a ‘Direct Credit Retrieval’.

There is a fee for this service. If the payment has been sent to:

  • another Westpac account, the fee is $25,
  • another bank, the fee is $50

This process may take up to 5 business days, and the fee is payable regardless of whether the reversal is successful or not.

 When are my funds cleared?

Any planned payment you receive online from another Westpac customer will be cleared and therefore is available to spend immediately.

Payments received from other banks are often cleared by the sending bank, in which case you will have access to spend this money as soon as it arrives in your account. In some circumstances the other bank does not clear their payments (usually because they can still be dishonoured)  and this means you will be able to see the payment arrive in your account but the extra funds will not yet be available for spending.

This is what causes  your ‘money available’ balance to be different to your ‘current balance’ after payments arrive. 

How do I change a Direct Debit?

Direct Debits are only processed at the end of a business day. Westpac doesn’t control when these payments are made from your account or for how much. If you want to cancel or change these you need to talk to the company that initiated the Direct Debit e.g. the power company or gym.

How do I view my planned payments online?

You can view any Automatic Payments or planned payments/transfers coming out of your account online, just go to the ‘Transfer money/Pay Anyone’ menu and select ‘View/amend planned transactions & APs’

Weekend & Holiday Payments

All planned payments to another Westpac account will occur immediately - 365 days a year.

Payments to other banks are only processed on business days, so you need to be aware of the impacts around weekends and public holidays.

Weekend payments

Online Banking transactions completed after 10pm will be processed the next business day e.g. a payment made at 10.10pm on a Friday will be processed on Monday and show in the receiving account on the Tuesday.

Holiday payments

If you make a payment on a weekend or public holiday (e.g. on any of the four days over Easter), the payment won't be sent to the other bank until 9:30am on the next business day (e.g. the Tuesday following Easter). Depending on the other bank’s payments policy, the money will be in the recipient’s account as early as that morning (e.g. Tuesday) or as late as the next business morning (e.g. Wednesday).

Although the funds will show as being paid from your account immediately, you will still receive any eligible interest until the money is actually transferred.

Any Westpac Loan payments that fall on a Public Holiday will be made on the next business day.

Automatic Payments

If your Automatic Payment falls on a public holiday, it will either be processed the business day before this date, or the business day after. You would have chosen this when the Automatic Payment was set up.

You can check these details by clicking 'View, amend or delete planned transactions & automatic payments' from the 'Transfer money/Pay anyone' page within Online Banking. The next payment date will be shown here and you can click the payment for more details.


Did you know:

  • you can set up and manage all types of payments through your Online Banking
  • you can sign up for planned and Automatic Payment alerts that let you know if a payment has failed to give you time to transfer the money
  • it’s cheaper to set up an Automatic Payment online than any other way - for example, over the phone
  • we have over 2,000 pre-registered billers listed (or you can set up your own)
  • we have over 25 IRD tax types available for online payment

What you can do:

  • transfers can be made immediately between your Westpac accounts or you can plan future transfers
  • make a payment to anyone with a NZ bank account or plan future payments and even save someone’s account details if you're likely to pay them again
  • any payment to another Westpac NZ account is available immediately
  • set up a planned and Automatic Payment text or email alert by registering your phone number or email address
  • set up, amend, suspend or cancel an Automatic Payment
  • make a tax payment for over 25 tax types
  • transfer money from your Westpac account to your Westpac credit card, or use the ‘manage your credit card bill’ to make sure you pay the right amount on the right day
  • make payments to your account in the Westpac KiwiSaver Scheme (you’ll see KiwiSaver payments within 3 days)


Unauthorised transactions

If you notice an unauthorised transaction on your account as a precaution, change your password immediately as a precaution.

Check any other online accounts and view previous weeks’ transaction details for any other suspicious transactions.

Call us as soon as possible on:

  • 0800 400 600 (7am to 11pm, 7 days a week)
  • + 64 9 912 8000 from overseas (international toll charges apply)