Recent content by Binniem

An automatic funds transfer would have been electronic. It would have been initiated from the senders bank to the receiving bank. It could be a once off transfer, which would have been organised in branch, or a regular one , like a weekly payment as an example. For a big amount, most people...

I was just referring to phone banking as that was what the previous poster asked about. NetBank has evolved quite significantly since it started, it’s essentially a full service now, but was a lot simpler when it started. I don’t recall when third party transfers became available.

I’m not sure, but I would think that most banks at the time had similar systems

And just to add to that, if you wanted to transfer to another bank, it could only be done in the branch for a fee. Usually people would withdraw the cash and then walk the deposit to the other bank

It would have to have been done in branch, with permission from both parties. The account was linked to the card as a secondary account, and could be used at an ATM for withdrawals. There was a special way to transfer or you had to talk to a staff member, it wasn’t as simple as doing a transfer...

I started working for CBA in 1999, in phone banking. There was no way to transfer to an account with another bank or in another name over the phone, unless you had an authority and the other persons account was linked to your keycard.