About Real Time Gross Settlement (RTGS) Payments
An RTGS payment is a special type of payment where the transfer of money takes place from one Australian bank to another on a real time and gross basis. Settlement in real time means the payment is not subjected to any excessive waiting period. The payee will receive your funds within 120 minutes of the payment being requested.
From the Intl. Payments/RTGS menu you can view your RTGS History via the Real Time Gross Settlement History option and the Real Time Gross Settlement Payees used for RTGS Payments via the Real Time Gross Settlement Payees option. To create a new RTGS Payment you can click on the New Real Time Gross Settlement button.
Please Note: RTGS Payments can only be completed from registered accounts. If you do not have any accounts registered for International and RTGS Payments please refer to Access International and RTGS Payments.
The RTGS History screen displays a list of the previous RTGS Payments made from your registered accounts. The table displays the following information:
| Table(bordered) | |
|---|---|
| Field | Description |
| To | Personalised name that you have defined for the recipient of the funds |
| Date | Date the payment was debited from your account |
| Amount | AUD amount debited from your account |
| To Account | Australian bank account number of the RTGS Payee |
| From Account | Account that the payment was debited from |
By clicking on the Action menu button on the RTGS Payment entry the following actions are available:
| Table(bordered) | |
|---|---|
| Button | Action |
| Copy Payment | Create a new RTGS Payment using the beneficiary details of this previous RTGS Payment |
| View | Open in view-only the RTGS Receipt screen to show the payment's detailed receipt |
This screen provides a list of all existing RTGS payees that have been created, and allows you to view further details of each RTGS payee, or use the RTGS payee to make a new RTGS Payment.
An RTGS payee is the person/business who is the recipient of the funds for the RTGS Payment.
Please Note: If an RTGS Payment has been completed with a payee that has not been used before, this payee will not appear on the RTGS Payee tab until the relevant RTGS Payment has been approved by BOQ's processing system.
The RTGS Payee table displays the following information:
| Table(bordered) | |
|---|---|
| Field | Description |
| Name | Personalised name that you have defined for the RTGS payee |
| BSB | The BSB number identifies the bank, building society or credit union to which the payment will be made/requested. The BSB needs to be 6 digits long. |
| To account | Australian bank account number of the RTGS payee |
By clicking on the Action menu button of RTGS Payee entry the following actions are available:
| Table(bordered) | |
|---|---|
| Button | Action |
| Pay Payee | Create a new RTGS Payment using the details of this payee |
| Delete | Delete the RTGS Payee. A pop-up box will display asking to you to confirm whether you would like to delete this RTGS payee. |