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Understanding payment processing times in ANZ

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Last editedAug 20237 min read

Payment processing times in ANZ are influenced by transaction type and bank policies and can range from instant to up to three days. Systems like Australia's BECS and the New Payments Platform (NPP), and New Zealand's NZETS, play a significant role. An accurate understanding of these timings is pivotal for effective cash flow management and transaction settlement forecasting.

Understanding payment processing times in ANZ makes it possible to predict when you will be paid accurately. Depending on how the payer sends the funds, this can be anything from a few minutes to a few working days. With that in mind, here is a simple guide to ANZ processing times by payment scheme. It also explains an ANZ money bounceback and how it differs from a chargeback.

Payment processing times and payment scheme processors

If you use a PSP (payment service provider), you must consider two payment processing times. (Please check out this article if you’re not clear on what a payment processor is).

Firstly, there is the time it takes your PSP to make the funds available to you. Secondly, there is the time for the payment to be processed. Assuming the funds are paid directly into your bank account, this effectively means the ANZ bank transfer times. These depend on your PSP's specific transfer method to send the funds.

For example, let’s say you support payments through payment cards with the help of a PSP. Your PSP determines how long they hold the funds before paying them out. They then allow themselves a certain amount of time to process the payout to you. This lies entirely with them (and should be specified in the merchant agreement).

From that point, the time it takes you to receive the funds depends on the ANZ processing times for the particular bank payment scheme. Some PSPs use more than one payment scheme. They may set down rules about what scheme they use in what situation. If so, these should be specified in your merchant agreement. 

Alternatively, they may give you a choice of payment schemes to use. If so, this is probably in your settings. It is worth checking these thoroughly. Often the quickest payment schemes charge the highest fees. You should therefore weigh up the benefit of getting your money quickly against the extra cost of the transfer.

How long does GoCardless take to process payments?

The time it takes for GoCardless to process payments depends on the local scheme, with the BECS ANZ processing times varying between Australia and New Zealand.

Typical ANZ payment processing times by payment scheme

Each payment scheme sets its rules regarding cut-off times for payments to be presented and their deadlines to be credited. As long as banks respect these, they can process payments whenever they wish. This may include outside of standard working hours. As a result, the actual times that bank accounts are updated tend to be highly variable, even within the same bank.

Intrabank payments

Payments made between accounts with the same bank (e.g. by Pay Anyone) are usually made instantly, regardless of when they are sent. They may, however, only attract interest from the next business day. 

If you are making a payment to a credit card issued by your bank, it can take longer for the payment to be credited to your account. Credit card payments are often applied the next working day.


Osko® payments are processed within a few minutes, regardless of when they are sent.


If a BPAY payment is made before 6 pm (Sydney) on a working day, it is credited to the recipient on the same day. BPAY payments made outside working hours are processed the next working day. 

Pay Anyone (interbank)

If the payment is made before 6 pm (Sydney) on a working day, it is credited to the recipient the next business day. Payments made outside working hours are processed with the payments made on the following working day. They are therefore received on the working day after that.

Direct debits

In ANZ, direct debits are usually processed after standard business hours but before midnight. Essentially this is to ensure that there is as much chance as possible of you receiving any funds you are due before any direct debits are charged.

What time does Westpac clear funds?

Westpac generally processes intrabank payments through Pay Anyone and credits accounts instantly. Interest is usually only added from the next business day. Westpac follows the deadlines set down by the relevant scheme for interbank payments.

Understanding ANZ money bounce back vs chargeback

An ANZ money bounceback happens when an account has insufficient funds to make a payment. They are generally associated with direct debits. This is because the payee rather than the payer initiates direct debits. 

The payee is unlikely to know whether or not a recipient has funds in their account at any given time. This means that a certain number of ANZ money bouncebacks is almost inevitable. GoCardless deals with these by offering both manual and automated retries.

A chargeback is when a payer actively disputes a transaction. Chargebacks are resolved according to the rules set down by the payment scheme used.


PayTo is a new service offered by GoCardless. It’s powered by Australia’s New Payments Platform (NPP) and allows merchants to charge customers directly from their bank accounts in real time. PayTo can be used for both one-off and recurring payments. You can learn everything you need to know about PayTo at the GoCardless PayTo University.

Key takeaways

Understanding payment processing times in Australia and New Zealand (ANZ) is crucial for effective cash flow management and predicting transaction settlements. Here’s what you need to know:

  • Payment Service Providers (PSPs) manage two processing times: time to make funds available and time to process payment.

  • Processing times with GoCardless depend on local schemes, with variations between Australia and New Zealand.

  • Payments between accounts within the same bank (Intrabank payments) are typically processed instantly.

  • Osko® payments are processed within minutes, irrespective of when they're sent.

  • BPAY payments made before 6 pm on a working day are credited the same day. Payments made later are processed the next working day.

  • ANZ's money bounceback refers to the inability to make a payment due to insufficient account funds.

  • GoCardless' new service, PayTo, powered by Australia's New Payments Platform (NPP), allows real-time direct charges from customer bank accounts.

Case study — streamlining payment processing workflows

LaunchLink Communications, a leading PR and communications agency, leveraged GoCardless to revolutionise their payment system, achieving significant time and cost savings while enhancing their cash flow. The company experienced a remarkable transformation from managing cumbersome legacy payment systems to enjoying an automated, set-and-forget payment solution.

Felicia Coco, Co-founder and Director of LaunchLink, highlighted the benefits of the move:

By partnering with GoCardless, we’ve been able to deploy some incredibly simple yet innovative payments solutions that benefit our clients and the LaunchLink business – solutions that would not have otherwise been at our disposal as a smaller player.

Automation of invoice payments through GoCardless alleviated the pressures of managing late payments and exhaustive administrative tasks, as Coco explains:

Shifting to GoCardless made the process of collecting recurring payments so simple for us and our clients. We could set and forget, knowing that the power of Bank Debit would do the heavy lifting, reducing admin burden for us and our clients.

Moreover, GoCardless for Xero integration streamlined their invoice distribution and processing workflow, leading to a 100% payment success rate and facilitating a better customer experience.

The time saved on payment collections and administrative tasks allowed the agency to focus on business growth and client relationships, enhancing its potential for success. Coco affirmed, 

Not only does recurring revenue and automated payments provide us with peace of mind and security, but it also leaves us to put our energy into the most important parts of the business: growing our agency and nurturing the relationships we have with our clients and journalists.

In summary, integrating GoCardless into LaunchLink’s operations revolutionised their payment collection process, making it efficient, reliable, and less burdensome, freeing up time to concentrate on their core business.

“Automating payments and all their related workflows, for a fraction of the per-payment cost of card payments, is a massive win for us.” - Lee Mellon, Head of IT, Cripps & Co.

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We can help

Setting up payment collection is fast and efficient with GoCardless. By automating the payment collection process, GoCardless drastically cuts down the administrative responsibilities of managing and tracking invoices for your team. 

GoCardless makes it quick and easy to get started with no contracts or long-term commitment required. You can set up instant, one-off, or recurring payments in the merchant dashboard in just a few clicks. GoCardless automatically creates and sends all the necessary forms, doing all the heavy lifting for you. You can connect to GoCardless via over  350 partner apps, such as Xero and Chargebee.

Discover how GoCardless can automate payment collection, making it easier to concentrate on what matters most - your business growth.

Frequently Asked Questions — FAQs

How long does ANZ take to process payments?

The processing time for ANZ bank payments largely depends on the type of transaction and whether it's made within the bank or across different banks.

Same-Bank Transactions: Transfers between ANZ accounts typically occur instantly, 24/7.

Interbank Transactions: For payments from an ANZ account to accounts in other banks, the processing time can be up to one business day if the transaction is made before the bank's cut-off time, usually around 6 pm on banking days. However, it's important to note that the receiving bank's processing times may also affect when the funds become available.

International Transfers: International payments or transfers may take several business days due to the involvement of foreign banks and different time zones.

What time do Australian banks process payments?

Australian banks typically process payments and transfers on business days (Monday to Friday), excluding public holidays. The timing largely depends on the type of transaction and whether it's intra-bank (within the same bank) or inter-bank (between different banks).

Intra-Bank Transactions: These are usually processed immediately, regardless of the time of day or week.

Inter-Bank Transactions: These are generally processed in batches during the bank's working hours. Most Australian banks use the New Payments Platform (NPP) which allows for near-instant transfers 24/7, including weekends and public holidays. However, if the receiving bank does not support NPP or certain types of transactions, it could take up to one business day.

Scheduled Payments: If you've set up a future-dated or recurring payment, it will be processed on the date you've specified. If the scheduled date falls on a weekend or public holiday, it will usually be processed on the next business day.

Remember, specific cut-off times can vary between banks, so for the most accurate information, it's always best to check with the individual bank. Most Australian banks process payments from 5 pm to 6 pm on banking days.

Does ANZ process transfers on weekends?

If you're transferring between your ANZ accounts, the transaction is typically processed immediately, including on weekends and public holidays.

However, for transactions between different banks (interbank transfers), ANZ typically processes these on business days only (Monday through Friday), excluding public holidays. The funds are typically available in the recipient's account within one business day, provided the transaction is made before ANZ's cut-off time.

That said, ANZ is part of the New Payments Platform (NPP), which allows for faster, near-instant payments 24/7, including weekends and public holidays. If both the sending and receiving banks are part of the NPP and support Osko payments (the service enabling instant transfers), the transfer can be processed over the weekend.

What time does ANZ process international payments?

ANZ typically processes international payments during business hours, Monday through Friday, excluding public holidays.

International payments made before the daily cut-off time, which can vary but is often around 3 pm to 5 pm (local time), are usually processed on the same day. Payments submitted after the cut-off time, on weekends, or public holidays are generally processed on the next business day.

However, it's important to note that the time it takes for the recipient to receive the funds can depend on several factors, including the recipient's bank's processing times, the time zones of the sending and receiving banks, and any intermediary banks involved in the transaction.

Therefore, while ANZ may process the payment promptly, international payments can take several business days to reach the recipient's account.

Over 85,000 businesses use GoCardless to get paid on time. Learn more about how you can improve payment processing at your business today.

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