Different processing and cutoff times apply to financial transactions depending on the type of transaction, the account the transaction is requested from and the account the transaction is going to.

For all RTGS Payments the cut off time is 4.00 p.m. (Sydney Time) on a business day*. RTGS Payments requested before the cut off time can take up to 120 minutes before they are received by the RTGS payee's bank (if the payment is requested after 8:30am and before 4:00pm Sydney time). 

If you request the RTGS Payment via Internet Banking on a non-business day or after the cut off time on a business day* the payment will be processed by BOQ at the start of the next business day. 

The following table outlines when your RTGS Payment will be credited to the nominated To Account:

When was the RTGS Payment request made Payment will be credited immediately (within 120 minutes)  Payment will be credited by start of the next business day 
Before 4.00 p.m. (AEST) on a business day  
On a non-business day or after 4.00 p.m. (AEST) on a business day  

* A business day is defined as any day on which BOQ head office is open for business that is also a day on which banks in Melbourne or Sydney are able to effect settlement through the Reserve Bank of Australia.

Related Help Topics: