I'm in FastNet Business, can I make same day cleared payments?
A Same Day Cleared Payment is a single payment to another New Zealand bank account and commonly used for major purchases eg: for property purchases, where the person receiving the payment requires a payment confirmation on the same business day.
- Useful if you need to make an urgent payment to a non-ASB bank account.
- The money would be credited to the account you're transferring within an hour.
- Same day cleared payment cannot be reversed and a fee is charged.
You can send a Same Day Cleared Payment to any participating New Zealand bank between 9.00am and 4.30pm on a business day online via FastNet Business or through a branch where the service will be available only till 2.30pm given processing requires manual activities.
Fee applied for electronic transactions is available on FastNet Business internet banking fees & costs | ASB where for manual transaction via the Branch is $30.
If you want to urgently pay funds from your ASB account to another ASB Account, we recommend that you use the one-off payment via internet banking instead, as these transfers happen instantly and incur no fees.
NOTE: below is further detailed on 7-day payment processing - Better payments every day with ASB
Property settlements mostly still use Same-Day Cleared Payments which process on business days. 7-day payment processing gives you more flexibility and can be used for payments any day of the week where Same Day Cleared Payments are not available on weekends. The payment method to use would be your choice and the choice of other parties involved in the settlement.
Same Day Cleared Payments provide a confirmation to all parties that the transaction has been processed whereas payment confirmation is not available when transferring funds via 7-day payment processing.
What are the participating banks for Same Day Cleared Payments? - ASB Help
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