Commbank have a very annoying policy regarding first time Osko and PayID payments - namely a delay for instant payments. They class it as a security feature which none of the other banks have - effectively defeating the purpose of instant payments that Osko and PayID provide.
Usually I just call in - wait on hold for 30mins to 1 hour and ask them to sort it out - they then "ring their security team" and get it pushed through (while making sure that they let you know they are doing this as a one off massive favour for you)
While I'm sure there are many out there experiencing the same issue and pulling their hair out when they really need time sensitive transfers - I thought I would share my experience I had on the phone with one of their staff members today.
I called in and when identifying the transactions I was promptly told that "Unfortunately there's nothing we can do - there is a delay for security reasons" blah blah blah.
I knew that there was something they could do so pressed on and told them I was aware that they could push it through. The guy sighs and reluctantly puts me on hold to "talk to the security team" and lo and behold the payment gets pushed through 5 mins later…
I ask "Why did you tell me there was nothing you could do when in fact you could ?" and his reply was "This particular transaction is high risk so we can't always push it through"… But see that's not what he said. So I ask again "But that's not what you said - you didn't talk about any risk or transaction details - you just blanket told me there was nothing you could do"
His answer was what really annoyed me. He tells me that "These are the instructions we are given and this is what we are told to say to customers"
So Commbank effectively have a ridiculous policy on instant transfer process that delays instant transfers and tell their staff to tell customers that there is "nothing they can do", when they can…
So he offers to lodge a complaint. I agree - he gives me a reference number and I ask "So how does the complaint process work ?"
He tells me "There is no process, we take your complaint and keep it on file and evaluate your feedback"…
If I wanted a secured delayed transfer I would have found another way to do it. Completely defeats the purpose of Osko / PayID. On top of that Commbank have discretion to push payments through but tell their staff to tell customers that they can't. If you don't like it - you can "lodge a complaint" that effectively has no 2 way documentation and is treated as "feedback" with no follow up process.
As annoying as it will be it looks like the only real solution not to have to deal with illogical and backwards policies is to change banks…
Isnt this standard practice? The first time you pay someone there's a 24 hour delay, from then onwards its instant.