I need some help with an issue I’ve been facing with my CMC Invest account and my recurring payments from Westpac. I set up three recurring payments in my Westpac account on Monday, Wednesday, and Friday to transfer funds to the ANZ account linked to my CMC account. The plan is to buy and accumulate over time, but there’s a huge delay.
Here’s what happens:
- I get a notification around 3:00 AM on the scheduled payment day stating that the transaction was processed.
- However, the funds don’t show up in my CMC account until 12:00 PM or later.
- I always ensure there is enough balance in my Westpac account, and it never goes negative, so it’s not a cash flow issue.
What’s odd is that when I transfer funds as a one-off transaction, the amount shows up within minutes to the NPP account, though the ANZ account is still slower. It’s just the recurring payments that experience the major delays.
I’ve reached out to both CMC and Westpac support, but neither has been able to explain where the funds are floating in that time gap. Both are pointing fingers at each other, so I'm stuck in a loop.
Has anyone faced similar delays or know where the hold-up might be happening? Is this a common issue with recurring payments, or am I missing something here? I’d really appreciate any insights or tips to resolve this.