Processing Times
Once an EFT transaction is initiated, it will take four business days for the deposit to be processed. This means that if you initiate the transaction on a Monday, for example, the funds will be available in the recipient's account on the following Friday. It's important to note that weekends and holidays are not considered business days, so if the fourth day falls on a non-business day, the funds will be deposited on the next business day. To avoid any delays, it's recommended to adjust your payment schedules to settle on the business day before or after weekends and holidays.
Cut-Off Times
The cut-off time is the recommended latest time on a business day by which we must receive your debit or credit Instructions in order for us to process them on the payment due date.
The payments are only processed or settled on business days. A business day is any day other than Saturday, Sunday or a bank holiday.
Please note that if the payment date falls on a non-business day, then the transaction is processed on the next business day. You can adjust your payment schedules to settle on the business day before or after the holidays.
There are three daily cut-off times to submit EFT payments:
