News

Transfers: is your money going to the right place?

Transferring money to anyone, anytime is one of the great advantages of online banking. It’s quick and convenient, saving you a trip to a branch or having to write a cheque.

Sometimes transfers end up in the wrong account because the details are mistakenly entered incorrectly.

As the Bank doesn’t validate the account name, BSB and account number for payments to non-linked accounts or accounts at other financial institutions, it’s important to check the recipient’s account details are correct — it’s a lot easier than going to the trouble of recovering an incorrect payment afterwards.

Just remember to check the recipient’s BSB and account number:

  • before submitting the transfer in NetBank
  • before confirming the transfer in NetBank
  • before entering your NetCode (if you are registered for NetCode SMS) to confirm the transaction

If you have already confirmed the transaction, but later discover that the details were incorrect, please contact the NetBank Help Desk on 13 2221 option 4 (24 hours a day, 7 days a week). We will attempt to recover the transfer on your behalf on a best endeavours basis.