The Bank Transfer

I’ve been running into issues with banking here in Australia. I’d like to share with you some of the ridiculous scenarios I’ve been in. So, this will be the first installment of a series called “Broken Bank”.

The Transfer

Years ago I went into the bank to transfer money. I had recently moved to Australia and I didn’t have a new credit card set up yet to pay the down-payment on a new computer I wanted to buy online. So I go into the bank and wait in line. After 10 or so minutes it was my turn and I explain to the lady at the counter that I wanted to transfer money from my bank account to this other bank account and handed her a piece of paper on which I had carefully written down all the details. She looked at it for maybe 10 or 15 seconds and then slowly started to mumble something. Then she looked up and said to me “No. We don’t do that”. I asked her, “Sorry, what do you mean?”. She said, “We don’t transfer money like this. Well, we can, but it costs $25 and takes 5 working days”. When I asked her why she couldn’t tell me but the problem turned out to be that I was banking with NAB and I wanted to transfer money to CommBank. Apparently banks in Australia are so disjointed that they can’t transfer money to each other without undertaking a herculean effort. Her suggestion to me was to do the following: “Take the money out of the ATM and bring it to a CommBank branch to deposit into the bank account”.

Now, this is a organisation of which it’s core business is transferring money…

Banks in Australia are seriously broken!

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