Local Bank Tranfer from Citibank Pending Review?

joannatan on 18/01/2022 - 12:08

hi guys

does anyone here has experience you do local bank transfer within Australia from your citibank account but the bank pending review this transaction? The amount only aud 2k and the destination is student accomodation trust account.

So my friend in overseas asked me to pay her daughter accomodation fees and she will pay me back later. last friday, I was able to transfer instantly, but today i need make another transfer with the same bank account details but the bank pending review my transaction.

for me this is doesnt make sense why local bank transfer need to be review?

I did call their call centre and was told that because they are the subsidiary of US Bank so all transaction will be under US jurisdiction. Is that true?

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Comments

  • rektrading on 18/01/2022 - 12:19

    Legacy banks play games all the time.

    The two years long BRC gave them a good spanking.

  • John Kimble on 18/01/2022 - 12:24

    Citibank have a local presence, so I am pretty confident it doesn't go to USA for review.

    Citi Australia
    13 24 84
    https://maps.app.goo.gl/9Dx4Hwgy7VFCAaWF9

    If it does go offshore, it's more likely to go to Manila or something.

    In any case, your only recourse is probably to ask them to escalate for a resolution or speak to complaints, but chances are, your transfer will be processed before they get back to you.

  • toomuchdogfur on 18/01/2022 - 12:25
    +1

    Was the recent transfer of higher value than the previous transaction? You might have hit an arbitrary limit that triggered a payment hold.

    I know CBA holds PayID/OSKO payments for 24h when paid to a new account, regardless of amount, whilst ING is happy to do instant transfers to new accounts as long as you pass SMS authentication. So banks just seem to make up their own rules around these things sometimes…

    • John Kimble on 18/01/2022 - 12:26
      +2

      So banks just seem to make up their own rules around these things sometimes…

      How dare they!?

      • toomuchdogfur on 18/01/2022 - 13:08

        Somewhat annoying thing is that there's no way to override this 24h delay on an "instant" transfer, even if you call them. I get that there's some element of protecting people from themselves… but still, no way to override it at all even if you've specifically validated your ID and purpose?

        Hi yes I need this money sent immediately please.
        …bail money for old mate…
        …yeah he jacked a car
        …Daewoo Matiz.
        …yes, yes. I know.

    • joannatan on 18/01/2022 - 12:40

      the same amount of $2k, last week my friend youngest daugher accomodation, today is the eldest daughter accomodation fees, same amount $2k and paying to the same provider. yes i saw last friday payment was made via OSKO. and last friday was instant transfer

    • joannatan on 18/01/2022 - 12:42

      same amount of $2k from last Friday transaction.

    • lddv04 on 18/01/2022 - 13:06

      Yep, CBA did the same with me. $500 deposit for an item to a business, held for 24 hours. Balance of $9,500 on delivery to the same account, held for 24 hours.

  • AndyC1 on 18/01/2022 - 12:30
    -1

    In Australia they need to adhere to the Australian laws, not US laws.

    • John Kimble on 18/01/2022 - 12:34

      What has this got to do with laws?

      • AndyC1 on 18/01/2022 - 12:36

        See post "will be under US jurisdiction"

        • John Kimble on 18/01/2022 - 12:38

          I suspect someone's just used the wrong terminology.

    • Ocker on 18/01/2022 - 12:35
      +1

      USA banks (such as Citi) need to also abide by USA regulations

      • joannatan on 18/01/2022 - 12:42

        but i dont do international bank transfer, this is local bank transfer within australia. and the receipient bank is NAB. and NAB bought Citi Retail business in Australia. so in reallity the fund is internal transfer between NAB? am I wrong?

        • Kyle-K on 18/01/2022 - 13:17

          NAB bought Citi Retail business in Australia. so in reallity the fund is internal transfer between NAB? am I wrong?

          You are wrong unfortunately eventually this may be the case but at the moment they're still separate entities and NAB has not as far as I'm aware started any merging of the brands backend yet they're probably preoccupied by planning and the 86 400 acquisition.

  • trustnoone on 18/01/2022 - 12:43

    Could be a random check. My bro and I used to send money back and forth all the time though the bank. Then one time he sent me $2k and weirdly it went for review. We checked in and was told to wait a few days, and basically yeah, we just waited a few days and it went through and that was it. No idea why this time was any different to the times before but I do wonder if it just happens sometime, or they have some algorithm or trigger (this was with NAB).

  • zonra on 18/01/2022 - 13:24
    +4

    Wasnt it yesterday we had a user who blamed the bank for not having enough precautions after they willfully transfer 1.5k to a supposed breeder for a puppy that never came?
    Now we have a post about bank taking too much precautions.
    Not having a dig at you OP, but you can really see the ‘damned if I do, damned if I don’t’ situation here.

    • joannatan on 18/01/2022 - 17:43

      in that case the bank suppose to be dont process my transaction just reject it, so i can tranfer the fund from my other bank account. the customer service told me that every transaction has to be process manually ????

      • zonra on 18/01/2022 - 17:53

        Another user has mentioned that customer reps are often trained to make up excuses for these checks. They can’t tell you why the transaction got picked up and what the review process involved (for obvious and good reasons). I wouldn’t pay too much focus on their explanations. The process will take time and there’s not a lot you can do about it.
        I found that after the initial transfer to a new payee, subsequent ones tend to be a lot smoother, so it wont be like this everytime.
        And as for the bank causing you perceived ‘hassle’ when trying to pay large-ish sums of money to new payee/account, that just means safety measures are being appropriately implemented, and I would personally like to keep banking with them.

        • joannatan on 18/01/2022 - 18:06

          i can understand if this the first payee, the first payment on friday 14th jan 2022, it went trough smoothly, and this is the second payment the same amount and the same payee only different message, just weird why the alghoritm pick up this is suspicious. as the amount is less than $10k tresshold , just $2k transfer .

          • orangutan on 19/01/2022 - 08:50

            @joannatan: You have made same transaction twice, I wouldn’t surprised if the bank review that transaction. Give them a few days to review, shouldn’t take too long.

  • GG57 on 18/01/2022 - 13:50
    +2

    Perhaps the bank believes you are acting as a party to an informal money transfer arrangement (which you are). There is a lot of focus on those, to prevent money-laundering and potential breaches of embargoes, sanctions, etc.

  • Seraphin7 on 18/01/2022 - 14:16
    +3

    The transaction has been picked up by some sort of fraud/hacking protection algorithm.

    Because of this, you won't get a straight answer on precisely what caused it (as this can be used to determine ways around it).

    Frustrating, yes, but as @zonra above says, banks (or any business) can't win when faced with "just do what I tell you to do … but protect me from myself and indemnify me if something goes wrong".

    • burningrage on 18/01/2022 - 14:30

      This. From my experience, this is the reason of your predicament.

      The only element of this situation that I strongly disliked is when being queried about it. They were specifically told to lie for the reason as stated (to mitigate the possibility of being circumvented). This is very much unethical especially when it is your own money being involved and identity check has passed.

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