I have recently switched to MeBank from Ubank.
I have found that when I transfer money from Ubank to HSBC, it's done by Osko and it's pretty much done in real time.
But with MeBank (SpendMe account) it takes days for the funds to go into HSBC. However, if I transfer from MeBank to Ubank, it's in real-time.
Are any other Ozbers having the same issue?
The way Osko is setup bank-by-bank is very janky. I know from personal experience with the setup of one institution that they essentially had a "blacklist" for certain BSB's. If they had issues sending Osko payments to BSB's for a while, they'd add it to a form of "blacklist" that would then send the payment via the old EFT method by default. Which could take a day or 2.
It's because there are actually two ways fast transfers can be sent: SCT (single credit transfer) and Osko. I don't really understand the difference between them, just SCT is not actually guaranteed to be instant (but always has been for me). The problem is that not all banks have full support for both ways, so they will fall back to a 'slow' transfer. Rather annoyingly, no bank I'm aware of actually discloses what they support, so you just have to trial and error a bit to work it out. There is this spreadsheet, but I think it is out of date by now.
In your case, HSBC is a SCT only bank. I'm guessing MeBank is Osko only while Ubank supports both.
I have the same problem. I need to do my transfers sometime around 6 AM for it to appear in HSBC around 3 PM to finish the round trip in the same day. BOQ\Virgin
You could try scheduling the transfers in advance, but I know some banks treat it as if it were transferred the previous day and you lose that day's interest; furthermore with spend accounts earning zero interest, it means you will usually lose the at least a day's interest if you schedule it.
ME to HSB is slow. Transfer to an intermediary first (e.g. Macq, Ubank) then do instant transfer from there.
Be advised HSBC is a SCT only bank and NAB (who I think owns UBank) is SCT compatible and hence it is instant.
If you are transferring from Bank of Melbourne/Westpac for example into HSBC, it will downgrade to Online Transfer (ie: Not instant).
I think CBA to HSBC would also be instant as CBA are both SCT/OSKO participant. Not sure about ANZ.
Edit: Also note, if outward transfer, HSBC can go to NAB instantly BUT must be done via mobile phone banking, not desktop online banking. HSBC to Westpac/BankofMelbourne will incur a day delay whether via mobile/desktop banking.
Use Beem for instant transfer.
Nope. Can't say I've tried this particular combination. It's an oddly specific request for a forum post.
My suggestion is to use the transitive property of money transfers and go MeBank —> Ubank —> HSBC to get an instant transfer. Problem solved. You're welcome. You can venmo me some money to show your gratitude.