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Re: Voluntary HECS repayment processing times

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Newbie

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Replies 2

Hello ATO community.

 

I called the ATO 3 times today with differing answers.

My question was, if i make a voluntary hecs repayment, when will the HECS/Loan section on mygov update to reflect the payment and new balance?

On my first phone call, they told me instantly upon the payment being made.

Following this response, I made a payment using debt card (instant). Got my receipt and happy days.

I went to check the portal and the payment isn't showing up in transactions and my balance remains the same.

I called back, this time my response was, within 24 hours of payment being made.

Out of curiousity I called a third time, and this time the answer was within 4 business days.

Does anyone what the accurate turnaround time for this is? Furthermore, if someone has recently made a voluntary repayment, do you recall how many days it took for your balance to update on mygov?

 

Thank you in advance.

1 ACCEPTED SOLUTION

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Most helpful response

Community Support

Replies 1

Hi @Snorlax,

 

Thanks for your question.

 

I'm sorry about the first two incorrect responses you received, but the third one is correct.

 

There is guidance on our web site about the payment timeframe for electronic funds transfers. The ATO does not currently have a PayID so there is no real-time payment option at this time. The web site states "Payments you make to the ATO may take up to 4 business days to appear on your ATO account when a valid PRN has been provided."

 

Your payment may appear on your account earlier, but we generally say up to 4 business days to account for delays in transmission of the payment.

 

Hope this helps.

RochL

 

 

 

2 REPLIES 2
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Most helpful response

Community Support

Replies 1

Hi @Snorlax,

 

Thanks for your question.

 

I'm sorry about the first two incorrect responses you received, but the third one is correct.

 

There is guidance on our web site about the payment timeframe for electronic funds transfers. The ATO does not currently have a PayID so there is no real-time payment option at this time. The web site states "Payments you make to the ATO may take up to 4 business days to appear on your ATO account when a valid PRN has been provided."

 

Your payment may appear on your account earlier, but we generally say up to 4 business days to account for delays in transmission of the payment.

 

Hope this helps.

RochL

 

 

 

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Newbie

Replies 0

Thanks @RochL

 

No PRN was provided, i made the payment online, through the MyGOV portal and it did not ask for a PRN.