Bankwest Trust Accounts
21-03-2018 05:38 PM
After a period of investigation and testing the availability of Bankwest Trust Accounts has now been expanded from the initial pilot group. Registration of a trust account in PEXA is now available to all customers.
Existing users would be aware that under the current payments model the time taken for the PEXA deal status to move from 'settling' to 'settled' may exceed 30 minutes, rather than the less than 10 minutes experienced when the Bankwest account is not used. To rectify this processing delay the Bank is actively working to move all our PEXA payments to the New Payments Platform (NPP) infrastructure. This move will deliver the smoothest settlement experience and will be fully completed before the end of 2018.
Until these changes have been made to the payments system, to assist in providing the best possible outcome for all parties and to allow for payment processing, it is recommended that settlements should not be booked after 1500 WST.
We’re evolving and improving our digital offering to customers by embracing emerging technologies that are increasingly influencing how customers want to interact with us. The expansion of the service and the subsequent increase in transaction volume will be closely monitored, and your assistance is greatly appreciated.
Executive Manager Digital Operations Strategy WA
Digital Operations Innovation I Group Operations
Re: Bankwest Trust Accounts
28-03-2018 07:24 PM
No direct impact @DMc and no change in the way you need to operate. It is however highly recommended and appreciated if you could have settlements no later than 1500WST to ensure processing cut off times at RBA can be met with our current background process.