Slow BPAY Payments to Citibank

[hedge]

Bill was due on 16th, paid via BPAY on 16th. Still not credited to Citibank account and have had interest charged ($170). Not happy. Wish this stupid bpay payment would go through so I can get the interest charges removed. They won't budge until they receive my payment which is in the system somewhere.

 

[bambbbam2]

I know at my work we receive bpay money either the next day or the day after that.

I have spoken with the long-term workers and they tell me there has never been a case of more than 2 days..

 

[hedge]

I know at my work we receive bpay money either the next day or the day after that.

I have spoken with the long-term workers and they tell me there has never been a case of more than 2 days..

I have the same understanding however Eddy at the ANZ call centre told me it would take 3 days to be transferred, so ill wait until tomorrow.

 

[gregff]

I had thought that under the BPay agreement, payments would be recognised on the day they were made, notwithstanding the money may be actually transferred up to 2-3 days later.

 

[rwatts]

I had thought that under the BPay agreement, payments would be recognised on the day they were made, notwithstanding the money may be actually transferred up to 2-3 days later.

True, but in the OP's case the bank will not recredit the interest/late payment fee charged until the payment actually reaches them. Until them they only have his word that a BPay payment is in progress. Of course if they werent so quick to bang on the fee there wouldnt be an issue.

Richard.

 

[Flashback]

True, but in the OP's case the bank will not recredit the interest/late payment fee charged until the payment actually reaches them. Until them they only have his word that a BPay payment is in progress. Of course if they werent so quick to bang on the fee there wouldnt be an issue.

Richard.

They're well within their rights to do so, and it makes perfect sense to me.

IIRC on all bills it does mention you should allow 2-3 days for BPAY payments and hence I would not be putting one through on the due date.

 

[rwatts]

IIRC on all bills it does mention you should allow 2-3 days for BPAY payments and hence I would not be putting one through on the due date.

None the less if they accept BPAY payments then they are obliged to treat the date the payer's bank processes the transaction as the date they treat the payment as being received.

How long will it take for the payment to go through?

As long as you make a payment before your financial institution's cut-off time (this is the time at the end of the business banking day when you need to make a payment by for it to be processed overnight), the biller will acknowledge the payment as having been made that day and should process the payment the next banking business day.


If you make a payment after your financial institution's cut-off time, the biller will acknowledge the payment as having been made on the next banking business day (this does not include weekends or public holidays).
If you are unsure of your Internet or phone banking cut-off times or require more information, please contact your financial institution directly.

I always schedule payments to Amex, etc. for the very day they're due (if a business day) and have never had a problem. For the record, Amex payments have always shown up the very next day (credited against the previous day) so I dont know why Citibank would be so slow.

Richard.

 

[markis10]

None the less if they accept BPAY payments then they are obliged to treat the date the payer's bank processes the transaction as the date they treat the payment as being received.

You are missing a key part of that equation, you need to do it before the cutoff time, which in some cases is 3.30PM AEDST, that might catch the odd person out. My partner did one today with NAB at 4.30, its already in my ANZ Credit Card tonight.

 

[rwatts]

You are missing a key part of that equation, you need to do it before the cutoff time, which in some cases is 3.30PM AEDST, that might catch the odd person out. My partner did one today with NAB at 4.30, its already in my ANZ Credit Card tonight.

I didnt miss that at all - it was clearly in the text I quoted from the BPAY site. Obviously one needs to enter it before the paying bank's cutoff time, which is why wherever possible I use the banks' scheduling facility. Most banks process scheduled payments first thing - eg BankSA/St George at around 0700. For some reason Members Equity bank process their BPAY payments just after lunch (and occasionally forget and offer to reimburse for any interest and fees incurred as a result).

Richard.

 

[trippin_the_rift]

I've often made payments to citibank on a Sunday night where the balance is due the following day. The payment shows on citibank statement as the day SENT, not the day received.

Doesn't interest get added when your next statement is generated and not the final day the balance is due?

I know this probably doesn't affect you, however keep in mind you would have to have had the last 2 cycles paid in full on time to have interest free days with citibank.

 

[hedge]

I've never paid late, so I should have 45 interest free days (or 44). Rang ANZ and they said that it's definitely gone through. Citibank online still not showing it. This is crazy! Been 5 working days. Will call citibank now, but not sure what ill get out of it.

 

[one9]

Seems something has gone wrong. I have paid citibank using bpay for years and as long as i pay before my bank cutoff time the payment always shows up the next business day.

 

[hedge]

Spoke with a supervisor at citibank. They are reversing the interest charged so far and giving a temporary limit increase of $2000 for a week. They have also put a trace on the payment. Im beginning to think that this is related to the fact that I have 3 card numbers (soon to be 4) on my account which is due to citibank's incompetence in understanding how to upgrade a card.

 

[hedge]

Strange, but good. Payment came through (this morning I guess), but interest doesnt look like it has been reversed like promised. Looks like they have reimbursed me only half the interest I was charged.

 

[vilemerchant]

I once had a bpay payment (not to citibank) that got completely lost and never made it to its destination, despite using correct details and the bank claiming it went through. Took freakin months to sort out.

 

[hedge]

I once had a bpay payment (not to citibank) that got completely lost and never made it to its destination, despite using correct details and the bank claiming it went through. Took freakin months to sort out.

You're scaring me now! That would be a nightmare.

 

[JohnK]

I have not had any issue so far with BPAY. I have a number of credit cards and I pay them each month from CBA account and most of the time the payment has appeared on the credit card the next day or the day after. Rarely, if any, have I had to wait more than 2 days foir the BPAY payment to appear on the credit card....

 

[mick]

I have not had any issue so far with BPAY. I have a number of credit cards and I pay them each month from CBA account and most of the time the payment has appeared on the credit card the next day or the day after. Rarely, if any, have I had to wait more than 2 days foir the BPAY payment to appear on the credit card....

Yeah, same here. I use Westpac and have never had a problem, even after all these years of using BPay. My only gripe with Westpac is that you can't schedule payments more than three months in advance, which is a little annoying, but other than that, it runs like clockwork.

 

[hedge]

Well, money was paid on Monday, cleared on Saturday! Just spoke to them then, ALL the interest is being reversed rather than the 50% that the original supervisor put through (no idea why he only took 50% of the interest off).

 

[hedge]

Similar problem once again. Have gotten $7500 reversed by merchants (i.e. refunded) which will cover my bill. All was done just under a week ago, which was 3 days before my due date.

But...Citibank are so slow to process these refunds, and now my account is overdue once again and I have been slugged a late payment fee.

Looks like I am going to have to battle with them each billing period to get these charges reversed.