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Bankline shows my payment as an Inter Account Transfer (IAT), but it has appeared on my statement as a Faster Payment, why is this?


If an IAT is keyed in Bankline and the beneficiary account is then switched before processing begins, some or all of the transfer may be redirected to the new account via the Faster Payment scheme.

The amount that is redirected will depend on the balance of the beneficiary account at the time it is switched.

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